Belgrade, September 10 - The campaign "Turn to High Return" designed by the Economy and Privatization Ministry to introduce the general public to all aspects of the coming privatization process, was the theme of a presentation at the Sava Centre. Serbian Prime Minister Zoran Djindjic, British Ambassador to Yugoslavia Charles Crawford and Economy and Privatization Minister Aleksandar Vlahovic spoke about the goals of transformation of ownership in Yugoslav enterprises. Members of the federal and republican governments, representatives of the diplomatic corps, businessmen and journalists attended the daylong conference.

Dr Zoran Djindjic opened his speech with reference to the experience of privatization in other countries, remarking that practice so far has shown that private investment yields the most favorable returns, with the greatest capacity for turning growth potential into real development.

Champions not only in basketball, but also in transition

His Excellency, Charles Crawford, British Ambassador to FRY, also took the floor at Sava Centre. He pointed out that Serbia should take advantage of its present standing and reputation in the world, as "the opportunity offered was not so common." - Great Britain invested £200 billion overseas last year. There is only one question that should concern your country and that is whether you are going to get some of that money and the funds invested by other European countries this year and the next. It is essential that you know that European businessmen need political stability and certainty above all. Unfortunately, you keep creating an impression of permanent political discord - Ambassador Crawford pointed out. He added, however, that Serbian privatization offered opportunities to the modern European business community. - They like clean money and a solid, feasible framework for privatization. And that is precisely what the Serbian government is offering. For that reason, be champions in transition, as well as basketball - Crawford urged.

- Former British Prime minister Margaret Thatcher once made a statement which must become our motto too in this period; Private ownership is the most effective way of running an economy, as it entails the possibility of bankruptcy. That, in turn, implies stronger motivation and greater effort to forestall it - the Serbian Prime Minister pointed out.

According to the Prime Minister's words, the country is now to putting its economic house in order. With the introduction of private ownership, vitality, dynamism and the foundations for ongoing economic development are being advanced.

- On the other hand, it also clears the way for shady deals, and it is therefore essential to start by laying down clear rules and terms for doing business. However, those making the rules will henceforth act only in terms of offering advice and assistance to investors - Djindjic said, singling out infrastructure development and labour as two important elements in the restructuring process.

The country already has a surplus of labour, even in the present economic system. According to the Serbian Prime Minister, the size of the available workforce, however, is small in proportion to the size of the country, if it is to join the ranks of developed countries.

- It's time the restructuring of our labour force was begun. I think we posses great potential in highly educated and skilled workers - Djindjic emphasized.

Economy and Privatization Minister Aleksandar Vlahovic, representing the expert group that had drafted privatization legislation and which launched the media presentation of its significance to the nation, singled out three stages in their work.

- First of all, legislation was adopted in late June and early July by passing a string of laws and decrees. Though it is customary for the Agency for Privatization and the Share Fund to be founded later on in the process, we have already completed this task. It is now time for the introduction of a new concept in our society - Vlahovic said making clear the aim of the program - private investment that will raise the overall living standard of the whole population.

As the Minister pointed out, the purpose of privatization is not to fill state budget coffers; on the contrary, the state budget is to fuel the economy itself. In order to achieve that, there will be no more subsidies, only winners and losers.