Foreign Investments


Serbia and Belgrade are becoming an increasingly attractive location for international investors. The total value of foreign investments in the country since 2001 amounts to 8.9 billion dollars, of which 4.4 billion were made last year.

A large number of multinational companies now have well-developed businesses in the country. Among the leading foreign investors are companies such as Telenor, Mobilkom Austria, Philip Morris, Banca Intesa and InBev, and a number of major investment projects are in the pipeline.


Belgrade is a clear leader in Serbia for foreign investments. The total value of investment projects in the capital is around 3.5 billion dollars, and the sector that foreign investors are most interested in is the service sector – banking, retailing, telecommunications, as well as property development and manufacturing activities.


This table shows the largest investors listed on the basis of their head offices being in Belgrade, although part of the investment may have been made in other towns. Data on the level of investment has been taken from SIEPA research and covers both completed and proposed investments. The Agency does not guarantee the accuracy or completeness of the data shown.