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Fiat, Zastava subcontractors hold meeting
Kragujevac,
28 May 2008
Representatives of subcontractors of Italy’s Fiat and Zastava Group, the Ministry of Economy and Regional Development, Privatisation Agency, Foreign Investment and Export Promotion Agency and the city of Kragujevac held a working meeting today and discussed investment possibilities in Serbia.
Following the meeting, Assistant Minister of Economy and Regional Development Nebojsa Ciric stated that after the signing of the memorandum of understanding in early May this year, cooperation with Fiat has continued and that Fiat’s technical and expert teams have been in Kragujevac for a week now, holding intensive talks with representatives of the Ministry and the local self-government.
We familiarised them with incentives which the state offers to car part producers and financial stimuli for opening new jobs, said Ciric and added that Serbia cannot have a large car maker without a network of producers who will make parts for the automotive industry.
Director of the restructuring centre at the Privatisation Agency Aleksandar Ljubic voiced pleasure after today’s meeting with the first group of part producers who will directly supply Fiat.
He confirmed that subcontractors contemplated locations for their factories in order to begin production as soon as possible.
What is very important for subcontractors is that Fiat’s ambitious business plan projects the production of 200,000 vehicles by the end of 2009, and another 300,000 by the end of 2010, noted Ljubic and said he is convinced that Fiat’s subcontractors will be able to work for other car makers who are interested in starting their businesses in Serbia.
According to him, Fiat representatives said that 95% of the production is intended for export and that all producers of car parts must meet very demanding EU criteria, which is an incentive to domestic producers to improve the quality level and reach European trends.
We familiarised them with incentives which the state offers to car part producers and financial stimuli for opening new jobs, said Ciric and added that Serbia cannot have a large car maker without a network of producers who will make parts for the automotive industry.
Director of the restructuring centre at the Privatisation Agency Aleksandar Ljubic voiced pleasure after today’s meeting with the first group of part producers who will directly supply Fiat.
He confirmed that subcontractors contemplated locations for their factories in order to begin production as soon as possible.
What is very important for subcontractors is that Fiat’s ambitious business plan projects the production of 200,000 vehicles by the end of 2009, and another 300,000 by the end of 2010, noted Ljubic and said he is convinced that Fiat’s subcontractors will be able to work for other car makers who are interested in starting their businesses in Serbia.
According to him, Fiat representatives said that 95% of the production is intended for export and that all producers of car parts must meet very demanding EU criteria, which is an incentive to domestic producers to improve the quality level and reach European trends.
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