Serbia has an opportunity to move beyond the traditional investment destination model and become a partner to Swiss companies in knowledge-based industries, with particularly strong potential for future cooperation in biotechnology, digital health and advanced technologies
At a time of geopolitical uncertainty and rapid economic change, stability, innovation and long-term planning are more important than ever. Ana Govedarica, President of the Swiss-Serbian Chamber of Commerce, sees considerable scope for Serbia to strengthen its position in knowledge-based industries, while emphasising that transparency, the rule of law and a predictable business environment are essential to attracting more sophisticated investments.
The past year has brought significant geopolitical and economic changes affecting international trade and investment. How are the priorities of the Swiss-Serbian business community changing in this environment?
— Amid global instability, the priorities of the Swiss-Serbian business community are naturally shifting from pure cost optimisation towards building resilient, viable and sustainable supply chains. Swiss investors traditionally favour stable environments, bringing greater focus to moving production and partnerships closer to home markets.
For our business community, this means prioritising process digitalisation, risk diversification, energy efficiency and strict compliance with ESG standards. Serbia remains an attractive destination in this equation, but further progress is expected in transparency, the rule of law and creating a predictable business environment capable of meeting complex international requirements.
Switzerland has for decades been synonymous with stability, innovation and long-term planning. How important are these values today for companies operating in Serbia?
— In times of rapid change, Swiss values are not merely a business philosophy, but a key mechanism for weathering crises. Stability provides an essential anchor during market fluctuations, innovation enables companies to remain relevant, while long-term planning prevents ad hoc decisions that could jeopardise business.
Serbia should no longer offer only labour, but knowledge and high added value
For companies operating in Serbia, adopting this model means moving from short-term responses to market opportunities towards building sustainable business systems. Through the Swiss-Serbian Chamber of Commerce, we seek to promote these values and help the local ecosystem adopt standards that ensure stability regardless of external challenges.
Serbia continues to attract foreign investment, but there is increasing emphasis on attracting development centres, research and high-tech projects. What is needed to make this qualitative leap?
— To make this leap, we need to change the narrative – Serbia should no longer offer only labour, but knowledge and high added value. This transition rests on three key pillars:
- Stronger synergy between science and business: We need deeper integration of universities and research centres with the business sector, following the Swiss model, such as ETH Zurich.
- Intellectual property protection and the regulatory framework: High-tech projects require the highest level of legal certainty.
- Dual education and continuous learning: The Swiss dual education system, which we are already successfully applying, must be further adapted to the needs of Industry 4.0 and 5.0, focusing on biotechnology, AI and R&D in healthcare and technology.
European competitiveness today depends on the pace of innovation, digitalisation and human capital development. In which areas could Serbia become a reliable partner to Swiss companies over the next decade?
— Serbia has exceptional potential to become a reliable partner in the transition to a knowledge-based economy. The ICT sector has already demonstrated its strength, but the next level is biotechnology, pharmaceutical R&D and biomedicine.
With projects such as the BIO4 Campus, Serbia is clearly signalling where it sees its future, and this aligns perfectly with Switzerland’s leadership in the life sciences. Advanced industrial automation, green energy and sustainable agriculture also offer areas where Serbian engineering talent and Swiss technology and capital can deliver outstanding results.
Sustainability is no longer a matter of reputation, but of competitiveness. How prepared are companies in Serbia for the new European regulatory reality, and where do you see the greatest challenges in the coming years?
— New European regulations, such as the CSDDD on supply chain due diligence and the CBAM carbon levy, set demanding standards. Companies in Serbia – particularly those integrated into global supply chains – must adapt quickly, as sustainability is becoming a direct condition for accessing EU and Swiss markets.
Biotechnology and digital health could become a new major chapter in Swiss-Serbian cooperation
The greatest challenges are faced by small and medium-sized enterprises (SMEs), which often lack the resources and capacity to handle complex reporting procedures and process decarbonisation. This is where I see a role for our Chamber: through education, knowledge transfer and the examples set by our large member companies, we can help local suppliers transform their operations in time.
EXPO 2027 is bringing Serbia to the attention of the international business community. How should this opportunity be used to strengthen long-term economic cooperation between Serbia and Switzerland?
— EXPO 2027 should not be viewed merely as an exhibition or infrastructure project, but as a catalyst for long-term business partnerships. It offers a platform to promote Serbia as the region’s innovation hub. This opportunity should be used to organise targeted B2B meetings and business missions, and to showcase concrete investment projects in smart cities, infrastructure, environmental protection and technology. Switzerland is a global leader in sustainable urban solutions and organisation – connecting our companies as part of EXPO preparations will create a network of partnerships that can endure for decades after the event itself.
If you had to identify one area in which Swiss-Serbian cooperation could make the greatest leap over the next five years, what would it be and why?
— Without doubt, the life sciences and biotechnology, closely linked to digital health. Switzerland is a global powerhouse in healthcare and pharmaceutical innovation, while Serbia is investing considerable effort and resources in developing its biotechnology ecosystem and has outstanding experts in IT and the natural sciences. Combining these strengths – Swiss experience, capital and global reach with Serbia’s innovation potential and agility – could position our cooperation as an example of success both regionally and across Europe.
Source: cordmagazine.com