Taiwanese BizLink Opens Factory in Prokuplje

East Side Office at March 19th, 2018

Taiwanese BizLink has opened a new plant in Prokuplje. The company produces cables for small home appliances and plans to employ a hundreds of new workers in the next few years.

BizLink in Prokuplje now employs 350 workers. Realisation of the investment in Serbia is supported by the Government of the Republic of Serbia and local self-government.

The opening of the production facility was attended by Serbian President Aleksandar Vucic, who said that the government will support the Taiwanese company to expand its operations in Serbia and hire new workers.

He pointed out that the state will assist this underdeveloped region which needs invests for several reasons, and one of them is the strategy, as this location is the border area relying mostly on Kosovo and Metohija.

He stated that the priority for assistance in this area is the construction of the Nis-Pristina highway, the construction of a new industrial zone in Prokuplje and the revival of Kursumlija Spa.

Turkish Ormo Group Opens a Factory in Lebane

East Side Office at December 28th, 2017

Ormo Group is the biggest exporter of woollen yarn in the world, and the factory was opened in the reconstructed halls of the former textile company Eksporteks. It takes up 12,700 square meters and is the first factory opened in Lebane in the past 30 years. It is also the first factory that Ormo Group has opened outside of Turkey.

The factory currently employs 130 people, and once it starts operating at full capacity, it will process around 15 tons of woollen yarn.

The state invested around RSD 200 million in the purchase of Eksporteks from bankruptcy and the reconstruction of the halls.

The opening of LebanTeks was attended by Serbian President Aleksandar Vucic, Minister of Economy Goran Knezevic and Minister of Trade, Telecommunications and Tourism Rasim Ljajic.

Vucic said that the Turkish company had invested EUR 500,000 in the Lebane facility. The plan of the group is to hire additional 300 workers in the future.

– The company will be able to export woollen yarn to all the world markets. It will be exported to Russia, Turkey nad Western Europe. The exports will reach EUR 11 million by the next year – Vucic said.

Italian Company Zoppas opens a Factory in Kikinda

East Side Office at November 23rd, 2017

Zoppas Group opened a production facility of various types of heaters in Kikinda. The factory will employ more than 400 people, according to a statement from the Ministry of Economy.

Minister of Economy, Goran Knezevic, head of Vojvodinian government, Igor Mirovic, Mayor of Kikinda, Pavle Markov and the director of Zoppas Serbia and Romania, Carmen Rusmir, officially opened a factory in which the company invested a total of EUR 2,4 million.

Knezevic pointed out that this was the third factory in Kikinda opened in the last three years. Speaking about Zoppas, the minister said that the company’s good practices would continue in Serbia too.

Knezevic also reminded that Zoppas is an Italian investment, and that Italy was one of the most important partners of Serbia, both politically and economically.

Last year, the foreign trade between Serbia and Italy amounted to USD 3,7 billion, and about 600 Italian companies, operating in Serbia, employ more than 20.000 people.

Zoppas Group is one of the world’s leading manufacturers of home heating elements, industrial systems and products for special industrial purposes. The group have production facilities in Serbia, Romania, Germany, Russia, France, the USA, Brazil, Mexico, and China. Zoppas Group employs over 8.000 workers and has operating income of EUR 710 million.

Nepal invests in Serbia, noodles factory opened in Ruma

East Side Office at October 5th, 2017

The food factory was officially opened in Ruma, as the first investment in Europe by Nepalese company CG Foods Europe which operates within the Chaudhary Group. The investment is worth EUR 9 million.
The factory, which will produce noodles and other semi-prepared meals, started working in September and employs 100 workers. The plan is to employ 407 workers by the end of next year, and about 800 workers by the end of final phase.
Procurement of raw materials for the production will be from Serbian market and the plan is to supply the entire Europe with the products from Ruma.
Nepalese billionaire Binod Chaudri is among the top 50 in the Forbes list of the richest people in the world, and besides food, his companies produce steel, cigarettes, technical equipment, electricity. He also owns companies dealing with construction and hotel industry.


Serbia leads global greenfield investment index – FT report

East Side Office at August 4th, 2017

Serbia has led a global greenfield foreign direct investment index compiled by fDi Intelligence, a data division of the Financial Times, the London-based newspaper reported on Thursday.

Serbia’s “otherwise disappointing economic performance” has been outweighed by regulatory reform, low labour costs and access to the EU single market, the Financial Times said.

Serbia scored 12.02 in the index, which measures the appeal of countries as destinations for greenfield FDI relative to their GDP.

Another country in the region of Southeast Europe, Macedonia, ranked third with 9.18 points, the FT noted.

The number of greenfield projects in Serbia announced by foreign investors rose to 77 last year from 57 in 2015, and 53% of them were in manufacturing, primarily in electronic components and car parts, followed by real estate and textiles, the Financial Times said.

“Most investors are attracted to Serbia as an export platform rather than as a market in its own right,” the newspaper added.

The net inflow of foreign direct investment (FDI) into Serbia rose to 1.861 billion euro ($2.205 billion) in 2016, from 1.804 billion euro in the previous year, official figures from the country’s statistical office show.