Representatives of the Serbian government and the Austrian crystal and jewelry manufacturer Swarovski signed Tuesday (20 March 2012) an agreement on the allocation of funds for a direct investment.

The agreement was signed by Minister of Economy Nebojsa Ciric and Chairman of the Swarovski Managing Board Markus Langes-Swarovski in the building of the Presidency, and the ceremony was attended by Serbian President Boris Tadic and Prime Minister Mirko Cvetkovic.

Also, Mr. Swarovski and Subotica Mayor Sasa Vucinic signed an agreement between the City of Subotica and the company Swarovski on the alienation of a building land in public ownership.

Prime Minister Cvetkovic stated that the signing of the two agreements had marked the beginning of the implementation of a significant project envisaging the construction of a new Swarovski plant in Subotica, that is, an investment of about EUR 21 million and the employment of 550 people.

He stressed that that project was very significant because it was a greenfield investment.

Cvetkovic reminded that Swarovski was a world-renowned company with the annual turnover of about EUR 2.5 billion, adding that the fact that it had chosen to invest in Serbia represented not only an economic benefit for the country, but also a special honor.

Cvetkovic assessed that the implementation of that project showed that Serbia was attractive for foreign investment and that the government's efforts had given results. He also wished Swarovski high profits and many similar investments and new jobs in the future.

Swarovski's representative reminded that that company had a long family tradition that was recognizable all around the world, not only for its products, but also for people working at the company.

Mr. Swarovski also pointed out that the company had found highly qualified manpower in Subotica, adding that it had sought the same thing in other parts of the world as well, but Serbia was the only country to offer professional partners on all levels.