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Tue 21 Oct 2008 04:00 AM

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Europe’s IT hot spot

Serbian ICT companies are in the spotlight at GITEX Technology Week, with the country's favourable business operating environment and booming skilled workforce well placed to attract regional business.

Serbian ICT companies are in the spotlight at GITEX Technology Week, with the country's favourable business operating environment and booming skilled workforce well placed to attract regional business.

Serbia Investment and Export Promotion Agency (SIEPA) ICT advisor Andrija Bednarik says the country's IT sector grew by 37% last year, making it Europe's fastest growing IT market.

"Serbia is right at the crossroads in terms of being able to target Western Europe, Eurasia and now the GCC markets," he adds. "The country boasts a positive taxation and investment environment that has delivered strong gains to international investors.

"It has been gaining incredible momentum, with India's Embassy Group, for example, making the largest investment ever in continental Europe with an ICT park worth more than EUR 600 million."

Serbia's Minister of Telecommunications and Information Society, Jasna Matic, says the country is developing a reputation as one of Europe's IT hotspots.

"Many leading global firms like Cisco Systems, Ericsson, IBM, Microsoft, Motorola, Oracle, Siemens and Red Hat have already set up shop in Serbia," she claims.

Serbia is also one of the only European countries to have a free trade agreement with Russia, adds Bednarik.

"Of all the developing economies, [Serbia] has been the least effected by the credit crunch," he says.

Matic will deliver a presentation focusing on investment opportunities within the Serbian ICT sector at SIEPA's stand today at 2pm.

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