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The Government of the Republic of Serbia

In the service of citizens

German company to build tourist facility on Tara mountain

Belgrade, 21 April 2004

Serbian Minister of Trade, Tourism and Services Bojan Dimitrijevic and representatives of the German company DmnH&Co.KG signed today a strategic partnership agreement, the company pledging to invest €5.5 million in the construction of an ecological tourist resort on the Tara mountain.

Bojan Dimitrijevic

Minister Dimitrijevic said that the Serbian government and the Ministry will do everything to improve economic and legal environment, and reduce investment, financial and political risks in the country, with the aim of attracting foreign direct investment in the Serbian tourism.

He added that the Ministry will push for the adoption of legislation on tourism, spas and ski resorts. He voiced hope that the preparation of a national tourism development strategy will be completed by the end of the year, which would be a kind of middle-term business plan for concrete projects.

Dimitrijevic said that the German partner reached an agreement with the Bajina Basta municipality and almost completed the purchase procedure of a 4.77 hectare land near the Zaovina lake on the Tara mountain. The German company plans to build an ecological tourist resort there, consisting of 60 bungalows and follow-up amenities - a restaurant, swimming pool, shopping centre and a boat marine. The facility, which can host 250 guests, will be open ten months a year to the guests from the German- speaking countries in the first place, but to domestic guests as well.

It is expected that the construction of the facility will begin in the course of the year, and that it will welcome the first guests at the end of the next year, said Dimitrijevic.

On the occasion of the construction of a tourist facility on the Tara mountain, which is the German company's first investment in Serbia, the formation of a mixed company Tara-Projeckts is underway. The company will work on the realisation of the project.