Fiat suppliers open two factories in central Serbia
KRAGUJEVAC -- American company Johnson Controls on Wednesday opened a factory for the production of car seats in Kragujevac, central Serbia.
Together with the company Magneti Marelli Johnson Controls also apened another plant which produces car interiors.
Both factories, which employ a total of 300 people and operate as suppliers for Fiat Automobili Srbija (FAS) making parts for the Fiat 500L, which launched production in July last year.
Serbian Minister of Finance and Economy Mlađan Dinkić said at the opening ceremony that the automobile industry will be the driving force of economic growth in Serbia this year.
According to Dinkić, FAS and its suppliers are expected to bring in EUR 2 billion in revenue this year.
Dinkić said Serbia's export will go up 25 percent, and one fifth of the total export will come from Fiat and its suppliers in Kragujevac.
"Serbia is in a difficult economic position, but the first signals of recovery were visible in December with a rise in industrial output, thanks mainly to the major growth in the automobile industry," he said.
The opening ceremony was attended by representatives of the Italian and U.S. embassies, the city of Kragujevac, Johnson Controls and Fiat.
U.S. Ambassador Michael Kirby said the government's commitment to attracting foreign investments is very important and these two factories show what investments can do for the Serbian economy.
Italian Ambassador Armando Varricchio said Serbia has great potential and companies choose to invest there precisely because they believe it offers numerous business opportunities.
FAS CEO Antonio Cesare Ferrara said the company's suppliers employ a total of 1,200 people, and over 67 percent of the parts for the needs of FAS are produced in Serbia.
January 31, 2013 | 09:04 | Source: B92 | Comments: (8) | Send comment
BELGRADE -- The European Bank for Reconstruction and Development has announced a loan of up to EUR 65mn to finance the acquisition of 400 new city buses in Belgrade.
February 1, 2013 | 18:36 | Source: Tanjug | Comments: (4) | Send comment
BELGRADE -- Koridori Srbije (Corridors of Serbia) Director Dmitar Đurović says Alpine is asking for another EUR 74mn for construction of a Corridor 10 section.
February 1, 2013 | 15:44 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Economy Minister Mlađan Dinkić has said that Serbia and the United Arab Emirates will sign an interstate agreement covering many areas later this month.
February 1, 2013 | 14:11 | Source: Tanjug | Comments: (0) | Send comment
JAGODINA -- Minister Mlađan Dinkić has said that anyone who invests EUR 10mn in Serbia and employs at least 200 workers will be exempt from taxes on profits for ten years.
February 1, 2013 | 20:54 | Source: Tanjug | Comments: (2) | Send comment
KRAGUJEVAC -- Political and cultural cooperation between Serbia and Brazil and their friendly ties are on an excellent level, but their business cooperation is weak.
February 6, 2013 | 13:27 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- The Executive Board of the National Bank of Serbia (NBS) decided on Tuesday to increase the reference interest rate from 11.50 percent to 11.75 percent.
February 6, 2013 | 20:46 | Source: NIN, Tanjug | Comments: (0) | Send comment
BELGRADE -- Minister of Finance and Economy Mlađan Dinkić announced that the talks on the new arrangement with the International Monetary Fund (IMF) would begin in May.
February 4, 2013 | 11:52 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Serbia recorded a USD 1.32 billion surplus in trade with the regional CEFTA market last year, the Statistical Office announced.
February 4, 2013 | 15:52 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- The 150 most important foreign investments in the past 12 years have brought EUR 15.96 billion to Serbia, statistical date presented on Monday shows.
February 5, 2013 | 13:48 | Source: Tanjug | Comments: (2) | Send comment
SMEDEREVO -- The town of Smederevo on Wednesday moved to terminate its contract with the Comico Oil company, the local authorities announced.
February 3, 2013 | 14:32 | Source: Tanjug | Comments: (2) | Send comment
PIROT -- The Serbian government will provide Tigar corporation with a short-term loan of RSD 200 million, Serbian Economy and Finance Minister Mlađan Dinkić has said.
February 5, 2013 | 00:06 | Source: Tanjug | Comments: (12) | Send comment
ANKARA -- Serbian and Turkish presidents Tomislav Nikolić and Abdulah Gulsaid have announced that the time has come for the two countries to intensify mutual cooperation.