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Agreement signed on distribution of non-repayable investment incentive funds by company “Obuca Pavle”
Belgrade,
7 February 2007
Representatives of the Serbian Investment and Export Promotion Agency (SIEPA) and domestic company “Obuca Pavle” signed today an agreement on distribution of non-repayable investment incentive funds from the National Investment Plan for the construction of a new production hall for a new line of slippers, on the territory of Bela Palanka.
A statement by the SIEPA says that the company “Obuca Pavle” will receive €110,000 or €2,000 per new employee, according to a decision by the committee for distribution of these funds.
The agreement was signed on the basis of the Decree on conditions and methods for attracting direct investments, and the company in question will employ 55 workers and invest a total of €1,471,664 during the next three years in Bela Palanka.
“Obuca Pavle” was founded in 1995 with its seat in Bela Palanka, and is a well known brand in production of footwear for children. The company cooperates with several Italian firms, allowing it to market its products in the EU. The largest part of exports from this company are realised in countries of the region, but it also exports to Canada, the UK and other countries.
By November 24, 2006, when the second cycle of applying for funds by SIEPA finished, 43 applications arrived.
The expert committee brought a decision on December 20, 2006 on distribution of incentive funds to nine companies, four of which are foreign and five domestic, and a total of €3.13 million will be distributed to create 1,522 new jobs.
A sum of €7.2 million for 3,600 new jobs was distributed through the first cycle. A total of 18 applications arrived, and funds were distributed to one domestic and three foreign companies, reads the statement.
The agreement was signed on the basis of the Decree on conditions and methods for attracting direct investments, and the company in question will employ 55 workers and invest a total of €1,471,664 during the next three years in Bela Palanka.
“Obuca Pavle” was founded in 1995 with its seat in Bela Palanka, and is a well known brand in production of footwear for children. The company cooperates with several Italian firms, allowing it to market its products in the EU. The largest part of exports from this company are realised in countries of the region, but it also exports to Canada, the UK and other countries.
By November 24, 2006, when the second cycle of applying for funds by SIEPA finished, 43 applications arrived.
The expert committee brought a decision on December 20, 2006 on distribution of incentive funds to nine companies, four of which are foreign and five domestic, and a total of €3.13 million will be distributed to create 1,522 new jobs.
A sum of €7.2 million for 3,600 new jobs was distributed through the first cycle. A total of 18 applications arrived, and funds were distributed to one domestic and three foreign companies, reads the statement.
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