"Local Supply Chain Development Program" - 69 local companies obtained technical-consulting aid

- Within the scope of the Local Supply Chain Development Program, 69 local small and mid-sized enterprises have obtained technical-consulting aid in order to become the suppliers of multinational corporations within that program - Investment and Export Promotion Agency (SIEPA) announced yesterday (October 28, 2008).

The selected enterprises obtained the aid to become the suppliers of the following companies: "U.S. Steel", "Coca-Cola", "Ball Packaging", "Telenor", "Siemens", "Gorenje", "British American Tobacco" and "General Motors".

The enterprises that participate in the program have established direct contact with multinational corporations, they expanded and enhanced their product portfolios and the way in which they run their businesses and, thanks to the cooperation with international consulting companies, the transfer of technologies and know-how is enabled as well.

Multinational companies have had the opportunity to find suppliers and reduce procurement costs in Serbia, while the establishment of cooperation between small and mid-sized enterprises and these companies significantly helps development of the economy and increases the chances for direct foreign investments.

As the result of the Program, an electronic database of small and mid-sized enterprises, potential suppliers of multinational corporation, will soon be available on web address http://www.siepa.sr.gov.yu/site/sr/home/. Also, brochure "Guide for Serbian enterprises: How to understand and meet the requests of multinational companies" has been published recently.

The two-year Local Supply Chain Development Program have been realized by SIEPA and International Finance Corporation, a member of the World Bank group, and that program is realized within the Investment Promotion Program in Serbia, which is financed by EU.