Serbia: A Regional Leader in Science, Technology, and Innovation!

5 November 2024

Serbia has been recognized as a leader in science, technology, and innovation (STI) in the Western Balkans region, according to the fourth Western Balkans Competitiveness Report 2024 by the Organization for Economic Cooperation and Development (OECD). This acknowledgment underscores the country's remarkable progress and growing role in enhancing regional competitiveness.

The establishment of the Ministry of Science, Technological Development, and Innovation in 2022 marked a significant milestone in Serbia’s efforts to improve the governance and financing of STI policies. This new institutional framework has enhanced efficiency and clarity in setting strategic innovation goals.

The OECD report identifies the improvement in science, technology, and innovation management and financing policies as one of five key areas of progress for Serbia.

“The governance and financing of science, technology, and innovation (STI) policies have been further improved. The institutional structure for STI policy was simplified in 2022 with the establishment of a new Ministry of Science, Technological Development, and Innovation, which consolidated responsibilities and reduced the risk of overlapping mandates and conflicting priorities. While there is room for improvement, total domestic research and development (R&D) spending is increasing, reaching around one percent of GDP. Serbia has further committed to increasing public investment in R&D by 50 percent between 2013 and 2018, with public sector spending already starting to increase, primarily through the Science Fund. Serbia has also secured major investments to further expand the network of science and technology parks and build a modern biotechnology park,” the report states.

In addition to its leadership in STI, the report highlights Serbia’s strong performance in investment and digital policies, further cementing its position as a regional leader. These advancements not only enhance Serbia's competitiveness but also provide a model for regional cooperation and socio-economic growth, aligning with the country’s goals of closer integration with the European Union.

Through strategic investments in research, technology, and innovation infrastructure, Serbia is paving the way for a sustainable and dynamic future, inspiring progress across the region.