Vojvodina Investment Promotion

Vojvodina Investment Promotion - VIP
Established	2004
Chairman	Branislav Bugarski
Staff	15 [1]
Location	Novi Sad, Serbia
Address	Narodnog fronta 23d
Website

Last updated October 01, 2019

Vojvodina Investment Promotion (VIP) is a regional investment promotion agency founded by the Parliament of the Autonomous Province of Vojvodina which provides advisory and assistance services to foreign companies wishing to locate their businesses within the region of Vojvodina.

An investment promotion agency (IPA) is most often a government agency whose mission is to attract investment to a country, state, region or city. Generally, IPAs have core four functions: image building of FDI hosting country, investment generation, project management and after care services. While IPAs play an important role in attracting investment to developed countries some IPAs have additional advocacy function in developing countries where investment climate is not fully favorite.

Vojvodina, officially the Autonomous Province of Vojvodina, is an autonomous province of Serbia, located in the northern part of the country, in the Pannonian Plain.

History

Vojvodina Investment Promotion - VIP was founded by the Parliament of the Autonomous Province of Vojvodina in 2004. as a part of the strategic document named "Economic development program of AP Vojvodina".^[2]

Activity

VIP aims to enable economic development through facilitation of FDI and provision of professional services to foreign companies that wish to invest in Vojvodina. VIP favors investments in agribusiness, ICT, shared business services, tourism, automotive industry, metal processing, real estate and renewable energy. VIP acts as a coordinator between foreign investors and local authorities and networks. VIP also provides business opportunities in Vojvodina through location marketing, design of tailor made solutions for foreign investors, aftercare, policy advocacy and development of business incubators.

A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control.

Agribusiness is the business of agricultural production. The term is a portmanteau of agriculture and business and was coined in 1957 by John Davis and Ray Goldberg. It includes agrichemicals, breeding, crop production, distribution, farm machinery, processing, and seed supply, as well as marketing and retail sales. All agents of the food and fiber value chain and those institutions that influence it are part of the agribusiness system.

The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest economic sectors by revenue. The automotive industry does not include industries dedicated to the maintenance of automobiles following delivery to the end-user, such as automobile repair shops and motor fuel filling stations.

Vojvodina Investment Promotion is a member of World Association of Investment Promotion Agencies (WAIPA) ^[3]

The World Association of Investment Promotion Agencies (WAIPA) is an international Non-governmental organization established in 1995 by the United Nations Conference on Trade and Development that acts as a forum for investment promotion agencies (IPA), provides networking and promotes best practice in investment promotion.

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References

↑ "VIP Team - Vojvodina Investment Promotion". Vip.org.rs. Retrieved 2012-03-13.
↑ "Vojvodina". Archived from the original on May 13, 2009.
↑ "Waipa". Waipa. Retrieved 2012-03-13.

External links

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[1] "VIP Team - Vojvodina Investment Promotion". Vip.org.rs. Retrieved 2012-03-13.

[2] "Vojvodina". Archived from the original on May 13, 2009.

[3] "Waipa". Waipa. Retrieved 2012-03-13.