The sitting was chaired by Committee Chairman Milorad Buha, and attended by representatives of the Ministry of Economy and Regional Development, Republic Development Fund, Provincial Development Fund of the Autonomous Province of Vojvodina, Association of Employers, Independent Union of Metal Workers of Serbia and “Slankamenka" agricultural cooperative.

The Industry Committee members considered the Information on the financing of industrial projects in 2011.

The representatives of the Ministry of Economy and Regional Development said that the Ministry has developed support programmes such as subsidies for manufacturers of tractors, railway vehicles, buses and trucks, also stressing that they would allocate additional 550 million RSD to assist companies in restructuring.

Director of the Republic Development Fund Sladjana Backovic said that by granting loans under favourable conditions the Fund was stimulating production and has commenced talks with entrepreneurs from Pozarevac, Leskovac, Nis, Jagodina and other towns in Serbia on the problems they face in their business dealings. The funds allocated by the Fund for 2011 amount to about 21 billion RSD, 12 billion of which are earmarked for loans, added the Fund Director.

Snezana Repac, Director of the AP Vojvodina Development Fund said that economic activity is the Fund’s priority as 52% of Vojvodina’s population lives off agriculture. She also stressed that the Fund offers the most favourable agricultural loans in the country and that the maximum loan per household is 10 million RSD which stimulates production and attracts foreign investors.

President of the Association of Employers Nebojsa Atanackovic stressed that a Development bank is necessary for the revitalisation of economy, which the representatives of the union and cooperative agreed with.

The participants went on to exchange opinions on the difficulties faced by companies in restructuring, as well as individual producers.