Q:
A:
New shoe factory opens
Pirot,
5 December 2008
Minister for the National Investment Plan Verica Kalanovic was present today at the opening of the biggest and most modern rubber shoe factory in Europe, Tigar Obuca.
Kalanovic said that the factory is part of the Tigar Company, adding that the investment is worth €17.6 million, which is only a part of the € 32 million to be invested in the Tigar-3 factory.
She pointed out that the German Investment Fund DEG provided the €7 million loan to the Tigar Company, under favourable conditions.
The Minister said that the €17.6 million investment is a great encouragement in times of the global financial crisis and an incentive for other foreign investors, as it conveys the message that Serbia has a stable market and is ready to enter into European competition.
Although in a difficult economic position, Serbia will support the opening of new factories, jobs and the construction of infrastructure, said the Minister, adding that the proposed budget for 2009 contains considerable funds for infrastructure and support for foreign direct investment.
Having stressed that the role of the local self-governments and foreign partners is important for regional development, she pointed to Germany, which financed an energy efficiency project in Pirot through its credit bank and is now to finance a water supply project as well.
State Secretary of Economy and Regional Development Goran Petkovic stressed that such joint investments are important because these companies will later on stimulate the development of the towns they are situated in, increase employment and boost the export of goods and services to the EU.
President of the Tigar Corporation Dragan Nikolic announced that next June the plant’s output will reach four million pairs of shoes a year, adding that a three-year revenue of €75 million has been projected, which will be achieved primarily through export.
She pointed out that the German Investment Fund DEG provided the €7 million loan to the Tigar Company, under favourable conditions.
The Minister said that the €17.6 million investment is a great encouragement in times of the global financial crisis and an incentive for other foreign investors, as it conveys the message that Serbia has a stable market and is ready to enter into European competition.
Although in a difficult economic position, Serbia will support the opening of new factories, jobs and the construction of infrastructure, said the Minister, adding that the proposed budget for 2009 contains considerable funds for infrastructure and support for foreign direct investment.
Having stressed that the role of the local self-governments and foreign partners is important for regional development, she pointed to Germany, which financed an energy efficiency project in Pirot through its credit bank and is now to finance a water supply project as well.
State Secretary of Economy and Regional Development Goran Petkovic stressed that such joint investments are important because these companies will later on stimulate the development of the towns they are situated in, increase employment and boost the export of goods and services to the EU.
President of the Tigar Corporation Dragan Nikolic announced that next June the plant’s output will reach four million pairs of shoes a year, adding that a three-year revenue of €75 million has been projected, which will be achieved primarily through export.
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