The City Administration of Novi Sad is constantly working to improve the business environment, which is evidenced by a large number of domestic and foreign companies operating in Novi Sad as well as the possession of the regional Business Friendly Municipality certificate (BFC SEE). Novi Sad is one of the most prosperous cities in the country primarily owing to its geographic position and the entrepreneurial spirit of its citizens, that have conditioned the development of the processing industry, transport and trade sectors, as well as a number of related business activities, while in recent times there has been an expansion in the sector of information and communication technologies.
Investors who choose Novi Sad as the place for their investments are eligible for the incentive programs of the Republic of Serbia, the Autonomous Province of Vojvodina and the City of Novi Sad. The condition for obtaining the City of incentives is that these investments are of importance for the economic development of Novi Sad and that they provide new jobs. Overview of the related incentives can be found at: http://www.novisadinvest.rs/en/state-provincial-and-city-incentives
In addition, the City of Novi Sad offers investors attractive available locations for business development and its support throughout the entire investment process.
Additional advantages of Novi Sad as an investment destination are:
- Favorable geo-strategic position, at the crossroads of major international traffic routes. Highway E-75, E-70 and railway connect Novi Sad to the Central and Western Europe and the Asia Minor. The River Danube, with the Port and three international river wharfs connect Novi Sad with the Atlantic Ocean via the Danube-Rhine-Main Canal and with the Black Sea. The International Airport "Nikola Tesla" in Belgrade is only 80 km from Novi Sad, while the Sports Airport "Čenej" is just 16 km from the city center;
- The total export potential of over one billion consumers, due to the free trade agreements with CEFTA, EFTA, Russia, Belarus, Turkey and Kazakhstan, and the preferential terms of trade with the EU and the USA;
- The existence of the Free Customs Zone Novi Sad, which offers investors the ability to conduct manufacturing and service activities without payment of customs duties and taxes;
- Developed labor market and institutional support, due to a good education system, from primary to university level; the work of the National Employment Service, as well as other institutions and programs for additional training and retraining. The University of Novi Sad, with more than 50,000 students a year is one of the largest educational and scientific centers in Central Europe;
- Developed financial services market.