Country Profile: Serbia

Regional integration – Western Balkan neighbors are increasing collaborations

History: Serbia was shaped as a nation by the numerous external invasions it suffered; starting in the 4th century BC with the Celts overthrowing the Illyrians, the arrival of the Romans and the Slavs in the sixth century AD. A crucial event in AD 395 was when Roman Emperor Theodosius I gave Serbia to the Byzantines,  together with the fact that Sts Cyril and Methodius converted Serbia to the orthodox religion, resulted in the country being locked into Eastern Europe.

The Serbians were crushed in 1371 by the Ottoman Turks who eventually took Kosovo and Smederevo, which effectively ended Serbia´s independence. Belgrade was captured in 1521.

During the following centuries, many rebellions took place against the Turks. Thanks to Russia, the First National Uprising of 1804 was successful but the Russians made peace with the Turks, and the Serbian rebellion failed once again. The second National Uprising of 1815, in which the Turks allowed Serbia some autonomy, was the path to Serbia´s independence. Serbia became a kingdom in 1882.

The assassination of Archduke Franz Ferdinand in 1914 by a Bosnian Serb was used as a reason to invade Serbia, which triggered WWI.

In 1918, the Kingdom of Slovenes, Croats, and Serbs was formed, which included Serbia, Montenegro and Dalmatia, Croatia-Slavonia, Slovenia, Bosnia and Herzegovina, and the Vojvodina, which were South Slav territories.

In 1929, King Alexander I declared the new state a dictatorship which was renamed Yugoslavia. From the start, there were tensions between Croats and Serbs, and in 1934 King Alexander was assassinated.

Yugoslavia joined the fascist Tripartite Alliance. This was a short-lived pact, triggering a military coup and a sudden withdrawal from the alliance. The Germans bombed Belgrade and invaded Yugoslavia in 1941. Belgrade was liberated by the Communist guerrilla led by Josip Broz Tito, together with the Russians, and a Communist regime was introduced. After Tito’s breaking with Stalin, Yugoslavia became independent. With the death of Tito in 1980, the system began to crumble, and Yugoslavia finally broke up in 1991-92.

Serbian nationalists defended a Greater Serbia encompassing Serbs in the other republics. The Communist Party leader in Serbia, Slobodan Milošević who became president of Yugoslavia in 1997, adopted this doctrine and violence followed between the Albanians of Kosovo and Serbs. The demands of the U.S., Great Britain, Russia, Italy, Germany and France to cease fire and to withdrawal, Serbian forces from Kosovo were not met by Milošević. NATO began a bombing campaign which expanded to Belgrade and lasted 11 weeks. In the presidential elections of 2000, Vojislav Koštunica declared victory and restored ties with Europe. 

Serbia became a stand-alone sovereign republic in 2006 after Montenegro voted in a referendum for independence from the Union of Serbia and Montenegro. This marked the historical end of the separation of the six republics of the Socialist Republic of Yugoslavia which comprised Serbia, Montenegro, Slovenia, Croatia, Bosnia-Herzegovina, and Macedonia. From the start, Serbia suffered the recession of 2009, but today the economy is growing. The 1st Intergovernmental Conference with Serbia in January 2014 indicates the beginning of Serbia’s negotiations to become part of the EU.

Geography: The sovereign republic of Serbia is at the crossroads of Southeast and Central Europe. It has borders with Bulgaria, Croatia, Bosnia-Herzegovina, the Republic of Macedonia, Hungary, Bulgaria, Romania, Montenegro, and Albania through Kosovo.

It has access to the Adriatic Sea through Montenegro, and shipping access to inland Europe as well as the Black Sea is possible through the Danube River.

Serbia’s terrain is extremely varied with rich and fertile plains to the North, limestone basins and ranges to the East and ancient hills and mountains to the Southeast. The Northeast is rich, and fertile thanks to the Danubian Plain drained by the Danube, Morava, Sava, and Tisa river systems, all of which, together with the Drina River, conform Serbia’s main rivers.

Four mountain systems converge in Serbia: the Carpathian Mountains, the Balkan Mountains, the Dinaric Alps, and the ancient mountains of the Rilo Rhodope mountain system. The Balkan Mountains create the natural border with Romania and Bulgaria, the valleys and hills of the Dinaric Alps cut through Serbia west of the Morava River.

Climate: Serbia has a predominantly continental climate; cold winters and warm summers. The north of Serbia typically has a continental climate, while the South and South-West have a climate of Mediterranean influence.

Language:  The official language is Serbian. Despite being spoken throughout the country, there are some exceptions; in southern Serbia, it’s the Torlakian dialect which is spoken by most Serbians. Other minority languages like Bosnian, Croatian, Slovak, Rusyn, Bulgarian, Hungarian, Albanian, and Romanian are officially recognized in Serbia.

Demographics: The total population in Serbia is 7.1 million (this does not include the population of Kosovo). Serbians are the largest majority when it comes to ethnic groups, while Hungarians are the largest minority followed by Roma people and Bosniaks. Croats, Slovaks, Albanians, Montenegrins, Romanians, Macedonians, and Bulgarians are other minority groups.

Natural Resources: Serbia has considerable natural resources but is lacking in mineral fuel, making the country dependent on Russia for crude petroleum and natural gas necessary to meet its domestic demand. It has one of Europe’s most abundant copper resources, located mostly in the Timoc District in northeastern Serbia. As well as copper, the industry produces iron and steel with significant production of gold, lead, coal, salt, and selenium. Lead and zinc production comes from Kopaonik, Raška. The southwestern regions of Serbia have timber and hydroelectric potential.

Politics: The framework under which Serbia functions is within a parliamentary democracy. The country is a parliamentary republic where the head of government is the prime minister, and the head of state is the president.

There are three branches of government in this parliamentary republic: judiciary, executive, and legislature. Serbia’s political system is based on the principle of separation of authority between these three.

The executive authority is held by the Government of the Republic of Serbia consisting of a prime minister, two vice presidents and 18 ministries.

As of 2017, Aleksandar Vučić is the President of Serbia and Ana Brnabić is the Prime Minister. Aleksandar Vučić became prime minister after a large victory in the parliamentary elections of 2014. He pledged an overhaul of Serbia’s economy and accelerated drive towards EU accession. Also to combat endemic corruption.

His reforms included diminishing the public sector, reforming the budget, privatizing state-owned enterprises and supporting the private sector. He won his candidacy for the presidency with a comfortable victory in 2017.

The prime minister leads a cabinet and exercises executive power. The president names the designate after deliberation with parliamentary leaders, and the National Assembly is in charge of choosing the prime minister. The prime minister nominates the cabinet ministers while the National Assembly confirms them. The president is elected by popular vote. It’s a five-year term, and it can be extended by-elections for two more terms at most.

The National Assembly wields legislative power and constitutional authority. It’s formed by 250 deputies who are elected by secret ballot.

Serbia has a system of civil law; the courts are not bound by precedent, but they solely interpret legislation. The Supreme Court of Cassation is the head of the judicial system. Other established courts are the Appellate, High, and Basic Courts.

The multi-party system in Serbia allows for many political parties, but because of the improbability for one party gaining power alone, there is a cooperation of multiple political parties forming coalition governments, helping to reduce the dominance of any one party. Elections are held every four years at three levels: local, provincial, and parliamentary. Presidential elections are held every five years.

Religion: The Constitution of Serbia protects the freedom of religion. Having the Serbian Orthodox Church at the head of the country’s religion, Christianity is the main religion with an 85% of the population adhering to the Orthodox faith. The Catholic Church is the second biggest religion. Islam is also present, mostly in Novi Pazar and southwest regions.

Cuisine: Serbian cuisine has been influenced by the rich mix of cultures passing through or living in the region. It is very diverse and can be described as a mixture of Greek, Bulgarian, Turkish and Hungarian cuisine. A centuries-old tradition is drinking coffee, and the national fruit is the plum, from which rakia is brewed.

  • Ireland: A Global Economic Powerhouse

    Ireland: A Global Economic Powerhouse

    Ireland has emerged as a global economic powerhouse, with influence reaching far beyond its borders. With a unique blend of historical resilience, modern innovation, and a commitment to global partnerships, the Emerald Isle has become a significant player in the international arena. One remarkable facet of this relationship is the profound economic connection between Ireland…

  • Powering the Emerald Isle 

    Powering the Emerald Isle 

    Ireland’s Ambitious Journey Towards a Sustainable Energy Future Ireland’s pioneering role in the global shift towards sustainability and environmental stewardship has been remarkable. The Irish government and the private sector are committed to promoting sustainable energy and prioritizing the transition to a net-zero future. Bord Gáis Energy, under the leadership of Managing Director Dave Kirwan,…

  • Glandore: Enabling Companies to Harness the Potential of Dynamic Workspaces

    Glandore: Enabling Companies to Harness the Potential of Dynamic Workspaces

    The landscape of the modern office is undergoing a profound transformation post COVID-19. With the rise of remote work, the focus is shifting from traditional long-term lease setups to flexible, adaptable spaces that cater to changing demands. Furthermore, companies increasingly value environments that foster collaboration, innovation, and work-life balance, while also accommodating the ebb and…

  • A Next Generation International Business Campus at Dublin Airport

    A Next Generation International Business Campus at Dublin Airport

    Ireland has emerged as an undeniable magnet for American corporations seeking to establish a robust foothold in Europe. One Irish player enabling businesses is daa PLC, a world leader in airport management and travel retail, which has diverse business ventures spanning aviation consultancy (daai), international duty-free retail (ARI), and airport operations (Dublin Airport and Cork…

  • Tapadoo: Trailblazing the Future: Advancements in Irish Software and App Development

    Tapadoo: Trailblazing the Future: Advancements in Irish Software and App Development

    In the heart of Dublin city, a thriving software development ecosystem flourishes, positioning Ireland as a key player in the ever-expanding tech industry. Underpinning this landscape are indigenous success stories like Tapadoo, a homegrown software app development company that has been breaking barriers and setting new standards. Dermot Daly, the CEO of Tapadoo, shared insights…

  • Linesight: Pioneering Global Expansion in Construction Consulting

    Linesight: Pioneering Global Expansion in Construction Consulting

    Few companies have exhibited the exceptional trajectory and global impact that Linesight, a Dublin-based company that provides construction consultancy services, has achieved. What began in 1974 as a regional consulting firm in Ireland has now blossomed into a preferred partner for multinational companies worldwide. By leveraging its close collaboration with multinationals working in Ireland, the…

  • Travel Reimagined

    Travel Reimagined

    Harnessing Tech for Unforgettable Journeys With its rich history, stunning landscapes, and vibrant culture, Ireland has long been a destination that captures the imagination of travelers. More recently it has become a preferred base for globally minded businesses including City Wonders, an established leader in the global travel industry providing exceptional travel experiences across Europe.…

  • Full Forward Kilkenny: A future ready, citizen-centric community with climate at its heart

    Full Forward Kilkenny: A future ready, citizen-centric community with climate at its heart

    What makes Kilkenny “the Best of Ireland”? At the heart of Ireland’s Ancient East, Kilkenny is both ancient and modern. This compact city of cobbled laneways and vibrant streets with Ireland’s celebrated Medieval Mile at its core is bookended by the stunning 14th century Kilkenny Castle at one end and the 13th century St. Canice’s Cathedral and…

  • Unveiling the Southern Gem: Business, Innovation, and Heritage in Ireland’s South

    Unveiling the Southern Gem: Business, Innovation, and Heritage in Ireland’s South

    The Southern Region of Ireland is on track to be one of Europe’s most creative, innovative, liveable, and greenest regions. It is a beautiful region endowed with great natural amenities including mountains, dramatic coastlines, and towns and villages full of character. The South of Ireland is renowned as a great place to live, work, do…

  • Cork’s Evolving Business Ecosystem Fuels Growth and Innovation in Engineering and Construction 

    Cork’s Evolving Business Ecosystem Fuels Growth and Innovation in Engineering and Construction 

    Insights from Micheál O’Connor, Managing Director of Dornan Group As Ireland solidifies its position as a global business hub, Cork has emerged as a key player with a thriving ecosystem for pharmaceutical companies, tech giants and engineers. Micheál O’Connor, the Group Managing Director of Dornan, shed light on Cork’s transformation and the factors driving Dornan’s…

  • A European Gateway: How Ireland Paves the Way for American Companies

    A European Gateway: How Ireland Paves the Way for American Companies

    Ireland is a strategic gateway jurisdiction for US multinationals seeking unfettered access to the lucrative EU single market. With its favorable business environment and prominent role as a global business hub, Ireland continues to attract and support American companies looking to establish a strong foothold in Europe and tap into its vast economic opportunities. Alan…

  • Ireland’s Food Journey

    Ireland’s Food Journey

    Bord Bia Paves the Way for Sustainable Agri-Food Products Ireland has emerged as a global leader in sustainability, particularly in its agriculture and food sectors, driven by the unwavering leadership of organizations like Bord Bia, the Irish Food Board. With a comprehensive and evidence-based sustainability program, Ireland has set an example for the world to…

  • The Next Generation of International Legal and Financial Services

    The Next Generation of International Legal and Financial Services

    Ireland focuses on innovation to drive the next phase of growth in legal and financial services Embracing Innovation  The Irish government’s proactive approach to fostering a business-friendly ecosystem has strengthened the country’s appeal as a global business hub over a number of decades. Ireland is well-established as a vibrant destination for international business and has…

  • Keeper Solutions’ Unique Path to Success in Software Development

    Keeper Solutions’ Unique Path to Success in Software Development

    Ireland’s software development ecosystem has evolved into a thriving community that nurtures startups and attracts innovative players that are making waves globally. Among the indigenous success stories is Keeper Solutions, a Limerick-based company that provides fast-scaling fintech companies access to highly skilled software development teams, and empowers clients to accelerate their software development capabilities in…

  • Fenergo: Revolutionizing Financial Compliance

    Fenergo: Revolutionizing Financial Compliance

    Regulatory compliance stands as an essential pillar to ensure trust, security, and integrity in the financial services industry. Amid this intricate web of obligations, Irish company, Fenergo, has prominently risen as a global frontrunner, providing SaaS-based client lifecycle management and transaction monitoring for financial firms. Wielding innovative solutions, Fenergo enables financial institutions to accelerate business…

  • Exploring Ireland’s Appeal as a Cross-Border Fund Domicile

    Exploring Ireland’s Appeal as a Cross-Border Fund Domicile

    Ireland has established itself as a prominent hub for global funds, attracting a substantial portion of the world’s investment activity. As a preferred destination for fund domiciliation and distribution, numerous international asset managers and investment firms continue to choose Ireland as their strategic base for managing and distributing funds to a global audience, contributing significantly…

  • Ireland’s Financial Services Sector Flourishes Amid Global Competition

    Ireland’s Financial Services Sector Flourishes Amid Global Competition

    In a rapidly evolving financial landscape, Ireland’s financial services sector has risen as a notable global contender, boasting a thriving ecosystem of around 9,000 financial services companies that employ over 100,000 people. With assets under administration exceeding USD 5 trillion, Ireland has solidified its position as the third-largest financial services hub on a global scale.…

  • Ireland’s Human Capital: Driving Multinational Growth and Indigenous Success

    Ireland’s Human Capital: Driving Multinational Growth and Indigenous Success

    Cpl: Ireland’s Biggest Name in Talent Ireland has enjoyed a great deal of economic success in recent decades, and its robust workforce has been one of the primary factors behind this continued growth. The young, highly educated English-speaking labor force continues to attract foreign investment to Ireland, including US multinationals such as Pfizer, Apple, Meta,…

  • A Thriving Oasis for US Foreign Direct Investment

    A Thriving Oasis for US Foreign Direct Investment

    Ireland stands tall as a beacon of strategic vision and adaptability, steadfastly retaining its allure for foreign direct investment (FDI). Amidst the complexities of economics and the twists of geopolitics, Ireland’s role as the cornerstone of transatlantic business cooperation remains resolute—an embodiment of the enduring vigor of Irish-American relations and the extraordinary influence of shared…

  • Enterprise Ireland: Empowering Innovation, Growth and Global Competitiveness

    Enterprise Ireland: Empowering Innovation, Growth and Global Competitiveness

    The Irish government’s trade and innovation agency, Enterprise Ireland, plays a pivotal role in shaping the economic landscape of the country and helps Irish businesses achieve global success. With a keen focus on supporting indigenous businesses and nurturing a thriving startup and R&D ecosystem, Enterprise Ireland is a driving force behind Irish companies conquering global…

  • The Emerald Legacy – the Convergence of Rich Irish History, Vibrant Culture and Global Markets

    The Emerald Legacy – the Convergence of Rich Irish History, Vibrant Culture and Global Markets

    How Berlin-based group Private Pier Industries is helping Ireland make waves in global consumer markets Akin to the role of a traditional Gaelic storyteller, also known as a seanchaí, Private Pier Industries (PPI) builds brands that can be appreciated worldwide and serve as a means of sharing Irish culture and stories with the rest of…

  • Efficiency and Innovation in Food Manufacturing: The Power of Automation

    Efficiency and Innovation in Food Manufacturing: The Power of Automation

    In the realm of food manufacturing, outdated handling systems create inefficiencies, higher operational costs, and increased carbon emissions. However, embracing automation and modernized systems ushers in a new era of efficiency, productivity and sustainability, enabling businesses to streamline their operations, reduce labor costs, and meet the growing demands of a rapidly evolving market. One company…

  • Innovative Dutch E-commerce Solutions

    Innovative Dutch E-commerce Solutions

    Dutch SME Salesupply is helping e-commerce clients launch into new frontiers  The Netherlands is home to many successful and innovative startups and SMEs – as the core of Dutch competitiveness is innovation, this should come as no surprise. The country has emerged as a world-class knowledge, software and technology hub. Dutch companies are continuing to…

  • Amsterdam: A Ideal Gateway into Europe

    Amsterdam: A Ideal Gateway into Europe

    A Conversation with: Corinne Schot, Managing Partner, Baker McKenzie Amsterdam Office How do you assess the competitiveness of the Netherlands as a business hub? The Netherlands is one of the most competitive economies in the world. We have been exceptionally inventive in fostering an attractive ecosystem. The Netherlands has world renowned transport and logistics infrastructure…