The regional business-friendly environment certificate is a common standard for creating good business environment in the Southeast Europe. It is a unique initiative aimed at harmonizing the operations of local administrations in this region, improving the image of the region as an investment destination, increasing competitiveness and encouraging economic cooperation.

Last year, institutions from Croatia, Macedonia, Bosnia and Herzegovina and Serbia formed the Regional Business-Friendly Network, the first joint organization in charge of improving conditions for the current economy and attracting new investments in all the four countries. The regional network will implement its mission by including local self-governments in the Business-Friendly Certification Program for South East Europe (BFC SEE).

En route to the Business-Friendly Certificate, every local self-government has to fulfil 12 criteria and more than 80 sub-criteria focused on developing the system of work and efficient procedures, increasing transparency and preparing all the documents and data necessary for investors to make a decision to invest.

Among requirements that have to be met are the adoption of strategic development plan, establishment of a department for local economic development and economic council, foundation of a one-stop shop for building permit issuance, creation of all databases necessary for investors, development of instruments for promotion of municipalities, possibility of proving creditworthiness, definition of workforce requirements, development of public and private sector partnership, provision of adequate infrastructure and reliable utility services, existence of transparent policy of tax and fee collection, application of information technologies.

Novi Sad, July 7^th, 2014