Law on regional development.

This Law defines the official names of all Serbian regions and closely sets: local government administrative aims and duties; indicators of the level of development of the region and local self-government units; classification of regions and units of local self-governments according to degree of development; development documents and related issues to be fulfilled; subjects participating in regional development affairs and processes; measures and incentives and sources of funding for the implementation of specific regional development measures.
Major goals of this Law are to stimulate the regional development with overall socio-economic sustainable development principles, also by reducing the regional and inter-regional disparities, in the degree of socio-economic development and living conditions, with emphasis on encouraging the development of underdeveloped, devastated industrial and rural areas; also by reducing certain negative demographic trends; further by determining the aims of the development of an economy based on knowledge, innovation, modern scientific and technological achievements with effective development of competitiveness at all levels; by establishing a legal and institutional framework for planning, organizing, coordinating and implementing of the above mentioned development activities; by promoting inter-municipal, inter-regional, cross-border and international cooperation in matters of common interest, with a more efficient use of domestic natural resources and goods, as well as foreign resources, at the republic, provincial, regional and local levels.