Gugl invests in cyber computing

Gugl invests in the startup of Serbian IT companies

The IT sector is one of the fastest growing economy sectors in Serbia with a growth in exports of About 20 percent a year. It represents 10% of the GDP of our country. This year, we have nearly a billion euros of exports through this industry, and I am particularly pleased that a large number of young people are seeing their future in this sector. Our obligation is to employ these people and give them the opportunity to realize their dreams in our country – said Siniša Mali, Minister of Finance, in Vienna at a meeting of ministers within the Berlin process

. , recently confirmed and powerful American "Gugl", when he decided to support the Serbian startup of the company and thus join the development of our technology and entrepreneurial enterprises. This will open up new opportunities for Serbian entrepreneurs and will expand and greatly internationalize their business network. However, the biggest problem for most companies that start a business, and "Gugl" or another powerful giant did not put them under their umbrella is – money.

True, for companies that show that they can do a lot and have good things The idea will always be to find an investor. But the fact is that after access to finance, the ease of access to credit and the development of the Western Balkan market economy, including Serbia, figure in the second half of 137 countries ranked by the World Economic Forum

Dragoljub Rajić says that the standard banking offer is inadequate for small and medium enterprises. It is monitored by high interest rates, complicated procedures and a warranty requirement. Thus, according to his estimate, only 20% of these companies can obtain a bank loan.

According to the survey "1000 Company Survey in Serbia 2017" published annually by USAID, two thirds of companies (69%) have not borrowed to finance their development. Most companies finance their own money growth (84%), while other financing models are virtually not used at all

To encourage the state to open innovative businesses that contribute to competitiveness Serbian economy it is necessary to develop a market for alternative forms of financing, which would create an assumption of financing companies at an early stage of development, says Rajic. The word is mainly about investment funds of entrepreneurial capital or venture capital. They work by investing in potential projects and small businesses in exchange for ownership, but they also take control and oversee the development of the business.

The Ministry of Finance states that in the process of accession to the European Union, alternative investment funds fully aligned with the guidelines of the European Union governing the management of funds alternative investment at the end of the third quarter of 2021.

– In cooperation with the institutions concerned and before We are working on the preparation of the draft law on alternative investment funds in order to find a solution appropriate for the adoption and implementation of a new law that would monitor the level of development of the domestic capital market, said the Ministry of Finance. the existing law on investment funds, in addition to open – ended investment funds, which can only invest in liquid assets (financial instruments and cash deposits), regulate funds for investment purposes; closed and private investment, ie the possibility for closed-end funds to invest in non-traded shares in regulated markets, limited liability companies and real estate , and private funds are not subject to any restrictions as to the type of property in which they may invest.

EU regulation, which regulate the management of alternative investment funds, the law will regulate the management of funds which, unlike open-end investment funds, may invest in different types assets (eg real estate or shares of limited liability companies, as current private and closed funds). The detailed conditions will be settled for the operation of current closed and private funds related to the issuance of a license, minimum capital, operating conditions, liquidity management, risk management, organizational requirements, policy compensation, transparency, reliable and objective valuation of assets.

They point out that the jurisdiction of the Securities and Exchange Commission will be expanded to oversee and impose penalties. One of the most important objectives is to better protect potential investors, that is to say to benefit from the same level of protection as the European Union, which would help to build trust and confidence. Investment security for both domestic and foreign investors.

Author Marijana Avakumović

Source Politika, July 11, 2018