Igor Živkovski presented Annual Report of the Foreign Investors Council’s Legal Committee

by ZS Law

The Foreign Investors Council (FIC) held the regular annual session of its Assembly on December 21, 2017, electing the new Board of Directors and adopting a set of important decisions. As of this year, FIC has a new election model – seven Board members were elected as a team and four as individuals, which contributed to the greater transparency of election process and equal treatment of FIC members. Members also adopted Annual and Financial Report for 2017 and voted for changes of the Statute. This has been an important year for FIC, which marked its 15th anniversary. From an independent business association created by 14 companies, FIC grew to gather over 130 companies from all around the globe who have invested EUR 34 billion and directly employ 97,500 people in Serbia compared to EUR 150 million of investments and 3.160 employees in 2003.

In 2017, FIC Legal Committee, a body advocating for improvement of the overall legal framework on behalf of FIC’s members, had 30 activities, covering variety of topics including regulatory initiatives on Anti-Money Laundering Law, Company Law, forex regulations, personal data protection, Civil Procedure Law, etc. Traditionally, Legal Committee prepared the majority of White Book texts. Activities also included participation in the White Book Task Force, dialogue with the EU and public promotion of the FIC stances. Having held 8 Committee meetings and 14 meetings with Government officials and stakeholders, Legal Committee is the most active out of 10 FIC’s specialized working committees.

Annual Report of the Legal Committee was presented by Igor Živkovski, Živković Samardžić Corporate and M&A Partner, who serves as a Vice President of the Foreign Investors Council’s Legal Committee.

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