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We are facing an extremely difficult period ahead, the crisis will inevitably affect business operations

Business leaders from the region, including Mr. Zhivko Mukaetov, CEO and President of the Management Board of Alkaloid, took part in the "Forum of Managers" held on October 18 this year in Belgrade.

This eminent business event organized by the Serbian Association of Managers (SAM) was attended by regional business leaders who had their presentations on topics in the field of economy, energy and food industry, trends in the field of human resources and workforce management, financial flows and the upcoming challenges in the context of economy and business in terms of the current crisis.

In his address, related to economic trends in the light of geopolitical events, the energy crisis and the region, Mr. Mukaetov emphasized that the world is facing an extremely difficult period ahead, especially following the turning of the global health crisis into a military and energy crisis as well. "The rising prices of energy and transport, the shortage of raw materials and packaging, the uncertain sales, and the unavailability of basic products will inevitably hurt businesses throughout the region", Mr. Mukaetov said.

Regarding investments in times of crisis, when companies usually save on marketing costs and cut investments, Mr. Mukaetov said: "In its long history, Alkaloid has gone through many crises. But the one thing that remained constant in all of Alkaloid’s 86 years in business is investment. In the past 20 years, our investments intensively focused on following the latest trends and achievements in the pharmaceutical industry. We have invested over €200 million in new facilities, R&D, equipment, laboratories, technology, software, and personnel. In the past two decades, clearly marked by signs of crisis, Alkaloid’s sales grew from €53 million in 2005 to €207.6 million in 2021. We see investments as a path to growth and development and plan to stay on that path".

In relation to the current situation in the region regarding the so-called "brain drain", Mr. Mukaetov emphasized the importance of investing in human capital. "As pillars of our countries’ economies, we need to find ways to keep quality people here". Human resources have always been at the center of Alkaloid’s attention and our imperative is to build a company of satisfied people who invest their full potential to achieve our joint success, because the company’s image, values, and credibility reflect its organizational culture and its people above all" - Mr. Mukaetov said.

A number of well-known managers of Serbian companies and eminent economic analysts expressed their views on economic trends in the region at this year’s "SAM Forum of Managers". Apart from Mr. Mukaetov, video addresses were also given by Mr. Emil Tedeschi, CEO of "Atlantic Grupa", and Dejan Turk, CEO of A1 Serbia and A1 Slovenia.

Great knowledge was gained from this thematic forum and recommendations were given on the ​​inevitable additional adaptation of businesses to the specific market needs, taking into account their limitations prompted by the current crisis. Energy efficiency and sustainability were indicated as the main prerequisite for maintaining competitiveness of companies and for dealing with the challenges arising from the downward trends in economy globally. Presenting his theses, Mr. Mukaetov pointed out that hard times call for hard decisions, but behind every challenge lies an opportunity.

Link to the full statement: