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The Government of the Republic of Serbia

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Brnabic meets with representatives of Hbis, Huawei, Bank of China

Belgrade /Shanghai, 4 November 2019

Prime Minister Ana Brnabic spoke today with representatives of the Chinese company Hbis, the owner of Smederevo's ironworks, since 2016 in Shanghai.

The Chinese company delegation was led by Chairman Yu Yong.

Brnabic once again thanked Hbis for its investment in Serbia to help save 5,000 jobs in the steel mill itself and more than 20,000 jobs indirectly.

The steel mill is a reflection of our steel friendship, Brnabic said.

The meeting with representatives of the Chinese company Hbis was also attended by Minister of Mining and Energy Aleksandar Antic and President of the Serbian Chamber of Commerce Marko Cadez.

In 2016, the Hbis Group Serbia purchased Zelezara Smederevo for €46 million, and currently this steel plant is the first in the list of exporting companies in Serbia.

At the end of July this year, construction of a new ecological plant began in Smederevo's ironworks.

Hbis is investing $120 million in the new facility, which is an investment of $80 million, and the Chinese owner will invest an additional $40 million in protecting the environment and raising energy efficiency of Zelezara.

Hbis has invested EUR 150 million in Zelezara so far.

The Prime Minister of Serbia also spoke today in Shanghai with the management of the Bank of China, which operates in Serbia.

Brnabic spoke with Bank of China Chairman Liu Liange and CEO and Executive Vice President Lin Jingzhen, pointing out that through cooperation with the Bank of China, Serbia has an opportunity to attract more Chinese investors.

We are pleased to have the opportunity to discuss how satisfied you are, what you have done so far and what your future plans are, said Brnabic.

The Bank of China began operations in Serbia in 2017, when its representative office in Belgrade was inaugurated, in the presence of the Serbian leadership.

Also, the Prime Minister of the Republic of Serbia met in Shanghai with Vice President of Huawei and the President of that company for Europe Li Jian.

Li pointed out that Huawei, which has been operating in Serbia for more than a decade, has a very positive impression and thanked him for his cooperation.

The Prime Minister said she was pleased with the cooperation with the Chinese company, pointing out that two important projects that Hawaii is implementing in Serbia, with Telekom and the Ministry of Interior, are important.

The meeting was also attended by Deputy Prime Minister of the Republic of Serbia and Minister of Trade, Tourism and Telecommunications Rasim Ljajic, Minister without portfolio in charge of innovation and technological development Nenad Popovic, as well as President of the Serbian Chamber of Commerce Marko Cadez.

Also, the meeting was attended by Ambassador of the People's Republic of China to Serbia Chen Bo, Ambassador of Serbia to the People's Republic of China Milan Bacevic and President of the National Coordination Council for Cooperation with the Russian Federation and People's Republic of China Tomislav Nikolic.