Q:
A:
Swarovski to open first factory outside Austria
Belgrade,
18 November 2011
Minister of Economy and Regional Development Nebojsa Ciric affirmed that preparations will begin today so that Swarovski Crystal could begin the construction of their factory in Subotica in December, which will hire 600 workers.
Clemens Koja, Nebojsa Ciric and Sasa Vucinic
Author:
Tanjug
At the Serbian President’s Secretariat General, following the signing of a Memorandum of Understanding with Austrian Ambassador to Serbia Clemens Koja on behalf of Austria’s Swarovski Crystal and Subotica Mayor Sasa Vucinic, Ciric said that conditions have been met for a leading producer of cut crystal to invest in a factory in Subotica.
The Minister said that Swarovski intends to invest €15 million in the first stage and launch a basic and completely export-oriented production.
The second stage of investment will be €25 million, he said, adding that 600 workers will be taken on for the time being.
Ciric explained that this is Swarovski’s first factory outside Austria, recalling that Serbia was chosen for the investment among several other countries which were interested in cooperating with this multinational company.
This is another proof that in 2011 Serbia is a regional leader in attracting foreign investment, the Minister added.
The successful business deal with Swarovski proves the well-foundedness and validity of transition from the anti-crisis model based on consumption to the model of production intended for exports, Ciric concluded.
Koja said that the fog prevented representative of Swarovski in Austria Markus Langes-Swarovski, who was supposed to sign the memorandum, to land in Belgrade, adding that the Serbian government showed great professionalism in striking this deal.
The company Swarovski hopes to have a long and successful cooperation with Serbia and its decision to invest in Subotica is guided by the wish to manufacture high-quality products in Serbia, the Austrian Ambassador stated. Vucinic voiced hope that Subotica will justify the investor’s trust and that Swarovski will not be the last big company that will locate its production in Subotica industrial zone. The Ministry of Economy and Regional Development and the Serbian Investment and Export Promotion Agency (SIEPA) held negotiations with this company during this year, in cooperation with the Austrian Embassy in Serbia.
Swarovski International Holding AG, with headquarters in Switzerland, specialises in the production of crystals for jewellery and decorative pieces, as well as materials made of crystals for the fashion industry and crystal chandeliers.
The company, which employs around 24,840 people in 120 countries worldwide recorded a turnover of €2.06 billion in 2010.
The Minister said that Swarovski intends to invest €15 million in the first stage and launch a basic and completely export-oriented production.
The second stage of investment will be €25 million, he said, adding that 600 workers will be taken on for the time being.
Ciric explained that this is Swarovski’s first factory outside Austria, recalling that Serbia was chosen for the investment among several other countries which were interested in cooperating with this multinational company.
This is another proof that in 2011 Serbia is a regional leader in attracting foreign investment, the Minister added.
The successful business deal with Swarovski proves the well-foundedness and validity of transition from the anti-crisis model based on consumption to the model of production intended for exports, Ciric concluded.
Koja said that the fog prevented representative of Swarovski in Austria Markus Langes-Swarovski, who was supposed to sign the memorandum, to land in Belgrade, adding that the Serbian government showed great professionalism in striking this deal.
The company Swarovski hopes to have a long and successful cooperation with Serbia and its decision to invest in Subotica is guided by the wish to manufacture high-quality products in Serbia, the Austrian Ambassador stated. Vucinic voiced hope that Subotica will justify the investor’s trust and that Swarovski will not be the last big company that will locate its production in Subotica industrial zone. The Ministry of Economy and Regional Development and the Serbian Investment and Export Promotion Agency (SIEPA) held negotiations with this company during this year, in cooperation with the Austrian Embassy in Serbia.
Swarovski International Holding AG, with headquarters in Switzerland, specialises in the production of crystals for jewellery and decorative pieces, as well as materials made of crystals for the fashion industry and crystal chandeliers.
The company, which employs around 24,840 people in 120 countries worldwide recorded a turnover of €2.06 billion in 2010.
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS
-
Belgrade, 23 June 2025Procedures to facilitate sale of Serbian products to China to be accelerated
-
Belgrade, 21 June 2025Serbia receives first funds under Growth Plan for the Western Balkans
-
Belgrade/Cairo, 20 June 2025New phase in relations with Egypt in field of agriculture
-
Belgrade/Athens, 18 June 2025Serbia’s leadership position in power sector