CITY OF NIS – EUROPEAN CITY OF THE FUTURE 2020/2021

DMFebruary 13, 20203min403
FDI

 

Financial Times fDi magazine has published a ranking list of the financial, economic and business potentials of cities and regions of Europe. These rankings identify the cities and regions with the most promising potential for investment, economic development and economic growth. The City of NiS once again found itself in this list of the most promising cities based on its potential, evident growth of foreign investments and quality support of the city administration to local economic development and investments through the Office for Local Economic Development and Projects. The years of continuous work and support of the Office and institutions of local self-government, as well as significant support of the Republic of Serbia are behind this prestigious recognition and the results that have led to it. In 2018/19 City of Nis ranked 7th. This year, based on the prestigious magazine’s report and officially rank, the City of Nis climbed up the ranking ladder  and ranked 6th in the category of small European cities of the future for 2020/2021 in terms of development strategy and 5th in the category referring to the  terms of profitability for investment. Financial Times collected data using special on-line tools, fdi references and data from the fdi market, as well as other sources. Data were collected for 489 locations and 150 regions in five categories: economic potential, human capital, operating costs, infrastructure and business environment. The locations received a maximum of 10 points for each category, as measured by the importance in the foreign investment realization process, to rank cities and regions first in the subgroups and then in the final ranking groups. In addition, the research was conducted in six categories of the foreign direct investments. In this category, the ranking participants themselves submitted reports detailing their strategy for attracting foreign investment, which was then evaluated by a Financial Times jury. The jury also considered the size of the cities and regions, so they were divided into large, medium, small and micro. The evaluation criteria were numerous: 20 in the area of economic potential, 15 in the area of human capital and quality of life, 18 in the area of business costs, 19 in the area of availability, i.e. geographical position and transport links and 23 criteria for the business environment, i.e. for the support provided by the city administration to the implementation of the FDI projects.