Also established during a Belgrade City Council session was a limited liability company that will manage the Belgrade Free Zone.

Presenting the proposal, Mayor Sinisa Mali said that the establishment of the free zone will create a better business climate with more favorable work conditions offered to investors.

He particularly noted the Chinese company Meita, which signed an agreement on Wednesday to invest EUR 60 million, build a plant and hire 1,400 people in the area of the former factory in Baric.

The company managing the Free Zone may conduct all operations aimed at ensuring spatial, energy-related, technical and other conditions for carrying out activities in the zone, as well as engage in foreign trade.