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The former City defender thinks Jovetic is good enough to make a move to one of Europe's top clubs and has urged the forward to move to the Etihad Stadium despite his own difficulties in Manchester.
"Jovetic can play for one of the top clubs," Savic is quoted by The Mail on Sunday. "I hope he does because he is one of my closest friends.
"I would recommend City to him. I think City's a rising team, one of the best clubs in Europe. They will win trophies and be in the Champions League every year.
"It was hard for me there because I came straight from the Serbian league. I won a league title but after a season, I knew I had to play regularly to improve as a player. So I left City - it was my decision.
"It is different for Stevan. He has five years experience, he could play straight away with Sergio Aguero and Carlos Tevez."
Savic claims that Jovetic's technical quality and determination can be compared to that of Manchester United star Wayne Rooney.
"He is a second striker, similar to Rooney because he's good with the ball, gifted technically and intelligent," he added. "Off the pitch he is a quiet guy but on it, he fights."