The COVID-19 pandemic has had a significant impact not only on people's health but also on economic development worldwide, including Serbia and the region. Simultaneously, Serbia had a steady increase in foreign direct investments in recent years. New investments have the potential to support not only bridging the significant gap caused by the global recession caused by COVID-19 but also achieving the Sustainable Development Goals (SDGs) at the national level.

Therefore, it is important to ensure that investments are systematically aligned with the principles and practices of economic, social, and environmental sustainability and sustainable investing. This includes strengthening the capacities of partner countries to promote sustainable investments.

Project Goal:

Improvement of the overall investment climate in Serbia during and after the global COVID-19 pandemic and contribution to the sustainability of all investments in the country, regardless of their source.

Project Focus:

• Policy: Strengthening the capacities of policymakers to understand the impact of COVID-19 on enterprises and to identify challenges and priorities of the regulatory and institutional framework to support long-term sustainable development. 

• Platform: Enhancing knowledge, information and experiences regarding opportunities to attract foreign investments and exchanging knowledge and experiences on supporting employment and economic growth.

• Pilot: Showcasing successful practices of sustainable investments and business approaches that can support post-crisis recovery and can be further expanded and replicated in Serbia and potentially in other countries.

Results:   

1. SDG Investor Map was developed, identifying business opportunities and potential social and economic benefits from foreign investments in priority sectors and subsectors, as well as successful business models, to stimulate economic growth in Serbia following the COVID-19 crisis. In addition, a user-friendly online tool was developed to provide easy access to data for all interested parties. The SDG Investor Map is available in 3 languages – English, Japanese and Chinese, to reach a broader audience and encourage sustainable investments.

2. Four SIP events were organized in Serbia and abroad, with participants from countries investing in Serbia, to showcase opportunities for sustainable investments: First Sustainable Investment Forum, Dubai, UAE (March21, 2022), High level political forum in Belgrade, Serbia (June 30, 2023), side event at the High-Level Political Forum at the UN titled “Turning Financing Frameworks into Action”, New York, USA (July 18, 2023), and Second Sustainable Investment Promotion Forum in Xiamen, China (September 9, 2023). 

3. Online SIP One-Stop Platform was developed (available at https://bribelgrade.org/) to inform and encourage sustainable investments, connecting investment opportunities from all interested countries following COVID-19. 

4. Online training curriculum package was developed (available at https://bribelgrade.org/) for enterprises especially small and medium ones (SMEs), to enhance their awareness and ability for economic and social sustainability of their businesses, thereby increasing the resilience and inclusiveness of the labour market in Serbia after the COVID-19 crisis. 

5. Pilot training package on Environment, Social and Governance Standards (ESG Standards) was developed, and 22 companies participated in the ESG training, tailored to their specific needs. In addition, a communication campaign was implemented to raise awareness about ESG standards among the SMEs in Serbia.