Free zones in Serbia expect EUR 140 million investments in 2016

Source: Novosti Tuesday, 12.04.2016. 15:17

Sabac Free ZoneSabac Free Zone

Almost every fifth product that was sold last year outside the borders of Serbia was made in one of the fourteen free zones. Goods sold in the global market cost over EUR 2 billion. Opening of new free zones is not on the schedule for this year, except for Baric, which is a part of the free zone Beograd. Those competent announce that most of the existing free zones would be expanded with the arrival of new investors.

People at the Finance Ministry expect about EUR 140 million worth of investments in free zones this year. Over the past two years, these zones have hired 7,579 people, thus employing a total of 22,158 workers.

- At this moment in time, the plan is not to open new free zones but to expand free zones Novi Sad, Sabac, Smederevo, Svilajnac, Pirot and Priboj - announces Milan Ristic, the director of the Free Zones Administration.

As he noted, the free zone Beograd in a location in Baric, on which the company Mei Ta Industrial Co should commence the construction of its production plant, should be put into operation in early July.

The biggest advantages of doing business in free zones are the exemption from tariffs and value added tax on raw materials and equipment as well as on fuel consumption.

- In terms of production, exports and the number of employees, the most successful free zones are Pirot, FAS Slobodna Zona, and Subotica - says Ristic.

According to him, considering the geographic position, the availability of greenfield capacities, as well as the attitude of the local self-government towards the free zone and its further development, free zones Smederevo and Sabac have the greatest potential.

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