Dispute with Srba Ilic ended - $600m worth of US investments expected

At the initiative of the Ministry of Economy and Regional Development, the Serbian government adopted the conclusion presenting the decision of the arbitration council of the International Court of Arbitration, based on which Srbijaturist is returned to the US company Uniworld Holdings.

Uniworld Holdings is obliged to invest additional $3.4 million in Srbijaturist in order to meet higher standards for its classification.

A result of the final agreement between the two sides in the dispute is the decision of the Overseas Private Investment Corporation (OPIC) to renew its investment activities in Serbia due to the fact that the conditions for normalizing relations have been created.

According to announcements from the USA, approximately $600 million will be invested in Serbia in the upcoming period.

At the same time, this will improve the economic cooperation between the two countries, which has been at a standstill due to the dispute over Srbijaturist, the statement adds.