Pretty Group from Bangladesh to open textile facility in Sombor – State sets aside EUR 3.4 million in subsidies

The business entity Pretty Group from Bangladesh signed an agreement on the allocation of EUR 3.4 million of incentives for starting a production textile facility in Sombor, where 1,100 new workers will be employed, with the Ministry of Economy of Serbia on Monday, January 9, 2017.

In addition to Government officials, the signing was attended by Davor Brecic, representative of Pretty Group, and lawyers Aleksandar Mladenovic and Vuk Stankovic of the Mladenovic & Stankovic law office in cooperation with Rokas International Law Firm, the investor's legal counselor.

The total estimated value of Pretty Group's investment amounts to EUR 14.3 million.

The project will be realized through a combination of investments in existing production capacities (brownfield) and investments in new production capacities (greenfield), along with the latest technology used in the textile industry, which the investor intends to utilize.

The expected annual production capacity amounts to 2.4 million production units.

Ministarstvo privrede Republike Srbije

Grad Sombor

Vlada Republike Srbije

Pretty Group Bangladesh

textile factory Sombor

Ministry of Economy of Serbia

Davor Brecic

Aleksandar Mladenovic

Vuk Stankovic

Mladenovic & Stankovic law office

Rokas International Law Firm

textile facility Sombor