The National Alliance for Local Economic Development (NALED) revealed that the majority of startups in Serbia are planning to expand into the Asian market, with 63 percent aiming to export their products and services. Mongolia has emerged as a key target, with 44 percent of startups planning to do business there. This interest is driven not only by the demand for their products and services but also by Mongolia’s large market size.
The announcement came at the opening of the Global Entrepreneurship Week and the Pop-up Export Hub in Niš, part of the StarTech project. During the event, it was noted that some innovators select markets due to the low level of competition (31 percent) or the simplicity of administrative procedures (19 percent).
Vladimir Arsenović, State Secretary in the Ministry of Economy, highlighted Serbia’s position as the most attractive investment destination in the region, pointing to the country’s highly educated workforce and strategic geographic location.
“Serbia attracted 4.5 billion euros in foreign direct investments last year. Remarkably, 60 percent of these investments for the entire Western Balkans flowed into Serbia,” Arsenović said.
Dragoslav Pavlović, the Mayor of Niš, emphasized that the city has become a regional hub for development, with many investors recognizing its favorable business environment and strong institutional support.
Dušan Vasiljević, Director for Competitiveness and Investments at NALED, declared that Niš is currently the capital of innovative entrepreneurship in Serbia and the wider region. He noted that while the Far East remains a mystery for many, those who have successfully penetrated it are sharing their experiences at the event, drawing a parallel to the stories of Marco Polo in Europe.
Milan Ranđelović, Director of the Science and Technology Park Niš, also highlighted recent progress in international collaboration, revealing that an agreement had been signed with the Chinese High-Tech Zone Hangzhou. The cooperation focuses on leveraging geopolitical and industrial advantages, particularly in the digital economy, e-commerce, smart city solutions, modern logistics, and mobile payment systems.
At the event, a Memorandum of Cooperation was signed between the Niš Science and Technology Park and NALED.
The StarTech project, which is funded by Philip Morris and implemented by NALED in cooperation with the Government of Serbia, is a six-year initiative aimed at fostering innovation and digital transformation in the Serbian economy. The program’s goal is to accelerate the growth of Serbian companies and shift the traditional economy towards a digital, export-oriented, knowledge-based ecosystem.
