Serbia is open to FDI, and attracting FDI is a priority for the government. Even during its communist past, Serbia prioritized international commerce and has attracted a sizeable international business community. This trend looks to continue, as the government approved a package of incentives for foreign investors in June 2014 and adopted a new decree on subsidies for direct investments in March 2015.Serbia's Law on Foreign Investments extends national treatment to foreign investors, allows the transfer or repatriation of profits and dividends, provides guarantees against expropriation, and allows customs-duty waivers for equipment imported as capital-in-kind. The law prohibits foreign companies from establishing or obtaining majority ownership of a company that produces or trades arms, for example, in the defense industry, or in specific, prohibited areas of the country. The Law on Foreign Exchange Operations regulates payments between residents and non-residents, while the Law on Protection of Competition regulates fair market competition.