Concert organisers in Belgrade hope to persuade the Rolling Stones to perform there as part of their world tour.
The Rolling Stones start the European leg of their tour in May
The Serbian government has pledged to pay the group's costs if they perform at the capital's 100,000-capacity race course, the Hippodrome.
The Stones, who will play in Zagreb in neighbouring Croatia on 5 July, have yet to respond to the proposal.
They were due to appear in Belgrade in 2003 but cancelled after then prime minister Zoran Djindjic was murdered.
Serbian finance minister Mladjan Dinkic told reporters that if the veteran rockers accepted the invitation, "private companies would do all the preparatory work at their own expense".
"They would prepare the grounds, installations, take care of all the logistics," he said.
The Rolling Stones performed in Wellington, New Zealand, on Wednesday and are taking a brief break before beginning the European leg of their A Bigger Bang world tour.
The European tour currently comprises 35 dates, starting in Barcelona on 27 May and ending in Cardiff on 29 August.
The band's London dates on 20 and 22 August have been relocated to Twickenham Stadium after building delays forced them to move from Wembley Stadium.