Digitization leading to the greater competitiveness of the Republic of Srpska’s economy

The Cooperation Agreement on the Establishment of the Network for the Republic of Srpska’s Economic Digital Transformation, which was signed in Banja Luka in early 2020, represents one of the preconditions for boosting productivity and competitiveness of the domestic economy. This pilot project is planned as a first step towards the establishment of a center for the digital transformation of the RS economy.

28.01.2020 News

The pilot project will last 15 months, and one of the main outcomes should be the establishment of a center for economic digital transformation. With one such center already existing and operating in Serbia, this would be the second of that kind in the Western Balkans region.

One of the Republic of Srpska’s long-term strategic goals is to strengthen the domestic economy which is a basic precondition for a stable society, and the digital transformation is being perceived as a prerequisite that can lead to higher productivity and competitiveness.

The Cooperation Agreement was signed by the Minister for Scientific and Technological Development, Higher Education and Information Society of the Republic of Srpska, Srdjan Rajcevic, the Minister of Economy and Entrepreneurship of the Republic of Srpska, Vjekoslav Petricevic, the president of the Republic of Srpska’s Chamber of Commerce, Borko Djuric, director of the Innovation Centre from Banja Luka, Darko Gveric, and project manager at the German development agency for International Cooperation (GIZ), Elen Kalinovski.

The Agreement was signed in the RS Chamber of Commerce, and the signatories to the agreement pointed out that, apart from introducing the new technologies in the production process and business resource management, the digital transformation requires a change of the mindset in the workplace. These changes affect every part of an organization – company owners as well as employees, while the main goal is to increase productivity through the usage of technological tools.

Digital transformation also means the process automation, reducing business costs, and more efficient human resource management – in short, everything that modern and efficient business practice entails.

During the signing of the Agreement, it was emphasized that this project is of great importance for the RS economy because it will enable domestic companies to transform their business models in order to achieve higher productivity and competitiveness, and consequently more successful business.

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