Possibilities for recovery and prospects of the Serbian chemical industry in the light of sustainable development

There are numerous dilemmas related to the meaning of common terms associated with modern economic sectors, and especially the ones concerning industry. Chemical industry is a typical example of a term which changes rapidly and qualitatively, exactly with the pace of changing of the very technology based on knowledge, procedure, processes, raw materials, energy, as well as on the products themselves and on the way of their use. Numerous difficulties caused by huge changes in global market, by transition of command economies towards market system, as well as by the latest global economic-financial crisis, have brought the chemical industry in modern Serbia to an unenviable position. We cannot generally claim that chemical industry is collapsing, but the recovery of the whole chemical industry, as well as of the industry in general, necessitates many favourable presumptions from the environment, as well as strategic, systemic and operative measures, of the state within the so-called industry policy, as well as of the very companies which deal with chemical industry. The re-industrialization strategy, adopted officially during the first crisis blow, but to the full extent only during the prolonged crisis period in Serbia (2009-2013) should not be based on direct state incentives, but above all on the institutional infrastructure and business environment improvement which will lead to the investments in technological reconstruction and re-organization of the entire sector. However, chemical industry cannot be observed as a chance for economic growth per se, nor it can lead to higher employment rate in such a short period of time, but above all to productive use of profession, or of growth potential based on knowledge factor. This is why a proper evolution and prosperity of the Serbian chemical industry can be comprehended, not only through contribution of one separate sector, but as complementary and useful technologies within many other industries such as food, construction, energy, and many others, from the medium technologies domain, as well as those from the high technologies domain, such as bio-medical, pharmaceutical or cosmetic technologies. In such manner, the participation of chemical industry in the re-industrialisation of Serbia should not be observed only as a contribution to the recovery of industry, but as a factor of sustainable development in all its components, economic, social and ecological