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.

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