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The Government of the Republic of Serbia

In the service of citizens

Contracts for encouraging direct investment signed

Belgrade, 26 May 2008

Serbian Minister of Economy and Regional Development Mladjan Dinkic and Minister in charge of implementation of the National Investment Plan (NIP) Dragan Djilas signed today contracts on allocation of non-repayable funds for encouraging direct investment with representatives of 12 domestic and foreign companies who will invest a total of €70.6 million in Serbia.

Author: Tanjug

A statement by the Serbian Investment and Export Promotion Agency (SIEPA) reads that those companies will employ 1,473 workers in Serbia, and adds that as part of the sixth cycle of the programme for encouraging investment, implemented by the SIEPA, 30 applications were received and 12 were accepted, of which three are foreign and nine domestic.

The realisation of these contracts will enable investment totalling €70,580,729 in 11 municipalities in Serbia, for which €3,324,000 in incentives have been set aside from NIP.

The SIEPA’s programme for encouraging investment is being implemented on the basis of the Decree on conditions and ways of attracting foreign investments through funds from the National Investment Plan.

Contracts were signed with companies Strela (Serbia), Masterplast (Serbia), Gombit (Serbia), Vetprom (Serbia), Primar (Serbia), Kolarevic (Serbia), BWC (Serbia), IGB (Germany), Soja Protein (Serbia), Srpsko-Ruska Trgovinska Kuca (Russia), M Prointeks (Serbia), Gosa (Slovakia) and will be implemented in the municipalities of Leskovac, Subotica, Indjija, Krusevac, Pancevo, Cicevac, Zemun, Becej, Srpska Crnja, Mladenovac and Smederevska Palanka.

The rate of unemployment is very high in the municipalities of Leskovac, Krusevac, Cicevac and Mladenovac, and it is expected that the positive effects of these investments will lead to equal regional development.

In the first five cycles, a total of 157 applications were submitted to SIEPA for the distribution of investment incentives, and an expert committee decided to distribute incentive funds to 35 companies, of which 24 are foreign, and 29 domestic.

A sum of €26,074,000 was allocated from the NIP, for investments worth a total of €360,333,493 leading to the creation of 12,204 new jobs.