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Addressing COVID-19 and Sustainable Investments along the
Belt and Road by Strengthening Partner Countries Capacities and Establishing
a Network of Sustainable Investment Promotion (SIP) Facilities with Serbia as an Early Pilot

Reference
PDF-SDG-2020-02
Implementing Entity/ies
UNDP
Duration
Oct. 2021 - Oct. 2023
Location
China, Serbia
Approved Budget
$ 999,647
Description
The project aims to inform SDG aligned policy thinking and implementation in Serbia around Belt and Road Initiative (BRI) investments that factor in both the opportunities and positive impacts, as well as potentially adverse implications and risks for attainment of the 2030 Agenda for Sustainable Development. Serbia was selected as the second pilot country for its emerging role as a key BRI partner country in Central Europe, as well as the challenges COVID-19 has imposed on the country. The SDG Acceleration framework (2020 - 2024) between UNDP and the Government of Serbia will provide the foundation for the implementation of the Sustainable Investment Promotion (SIP) programme in Serbia. Under the SIP programme, UNDP provides policy advisory services to the FDI Unit within the government to improve the investment climate in Serbia; as well as capacity development of central authorities for SDG monitoring and implementation to accelerate national progress toward sustainable development.

Synopsis

The project has successfully established a multilateral framework of cooperation to leverage sustainable investment opportunities in Serbia. This initiative has paved the way for a new era of economic development, shifting the focus from traditional investments based on affordable skilled labor to sustainable and green investments. The collaboration between UNDP and the Serbian Government has led to significant strides in improving the country's investment climate, promoting sustainable economic growth, and ensuring that foreign investments align with existing programs and engage local stakeholders.

The project’s major deliverables include:

  • High-Level Events: Organization of 2 International Sustainable Investment Fora and 2 High-Level Policy Dialogues, promoting Serbia as a sustainable investment location and generating significant international interest and media coverage.
  • SDG Investor Map: Developed to guide future investment strategies, emphasizing sustainable and profitable investments. The Serbian Government has recognized its importance and plans to base the next FDI strategy on this tool.
  • Government Financial Commitment: A significant financial commitment of US$1.962.916 over two years (2023-2024) by the Serbian Government, demonstrating confidence in the initiative's effectiveness and strategic alignment with national economic growth goals.
  • Impact Assessment Study: A two-tiered study providing insights into public views on FDI in the post-COVID economy, aiding in informed decision-making.
  • Legal Advisory Services: 12 reports analyzing Serbia's position within the Open Balkans Initiative, offering strategies to maximize benefits from signed agreements.
  • Online One-Stop-Shop Platform: A digital gateway for investors, integrated into the Belt and Road Institute for sustainable operation.
  • Awareness and Training: Initiatives to raise awareness among Serbian businesses on global trends, including ESG standards and eCommerce, with research-based training curricula leading to widespread adoption and future training provisions.
  • Knowledge Exchanges: Organization of 2 knowledge exchange visits, Belgrade, Serbia in Jun 2023 and Xiamen, China in Sep 2023, to share information, best practices, and lessons learned.

Resources*

  • (//)
  • for social media (in Serbian)

 

* Links to external websites are provided for information only. The United Nations is not responsible for the content of external websites.