Lengthy administrative procedures delay Ikea's Serbian entry.

By bne IntelliNews January 25, 2013
Swedish furniture retailer Ikea said on Thursday, Jan 24, it has not given up its plans to open stores in Serbia but has not yet bought land for that purpose due to the overcomplicated and ambiguous legal-administrative procedures in the Balkan country, news agency Beta reported. The company said in a statement it has been for a long time now in a process of buying land for opening its first store in Belgrade. It plans to open five stores in Serbia over the long run, investing a total of EUR 250mn. Serb PM Ivica Dacic called in November for speeding up the administrative procedures that will allow IKEA launch its investment. The company's plans include building two retail centres in Belgrade and one each in the northern city of Novi Sad, eastern city of Nis and in central Serbia in the surroundings of Cacak and Kragujevac. Earlier this week, Ikea received a construction permit for building its first store in neighbouring Croatia after applying for it only at end-December 2012. Ikea plans to invest EUR 100mn in Croatia and open stores in Zagreb, Split and Rijeka.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Serbia's external debt up 4.7% y/y to EUR 25.4bn at end-Feb 2013.

Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more

Vip Mobile Serbia signs five-year managed services deal with Ericsson.

Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more

Telenor and Societe General possible buyers of Serbia's KBC Banka - report.

Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more

Follow Us On

Most Read

  1. Saudi Arabia to scale back plans for Neom city
    6 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. Iran vs Israel: Who is better equipped for war?
    2 days ago
  4. The ruble overtakes the yuan as Russia's main currency for settling international trade deals
    7 days ago
  5. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    17 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    21 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    26 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    19 days ago

Reports

Dismiss