Source: Tanjug | Thursday, 20.04.2017.| 15:08
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State to invest EUR 43 million in arms industry – Export worth EUR 550 million planned in 2017

(Photo: konecny/
The arms factories of Serbia will get direct investments of EUR 43 million from the state budget in the coming period. The money will be used to improve the operations, so that the export would grow from EUR 550 million, projected for 2017, to EUR 750 million by 2020, stated Prime Minister Aleksandar Vucic.

Vucic said that the amounts spent by the state on capital investments should be bigger and used more wisely, that is, to have the money return in the future through higher salaries and profits.

– This is why we had an important meeting today with representatives of arms factories, overhauling institutes, testing centers, Priboj's FAP and the main eight factories, excluding Krusik, which doesn't need money at the moment, as they've employed more than 1,000 people compared to the previous period and are operating successfully – Vucic said.

As he added, Zastava Oruzje Kragujevac should get EUR 9.7 million, Prva Petoletka Trstenik EUR 3.5 million, Teleoptik Zemun EUR 6.8 million, Sloboda Cacak EUR 2 million and Milan Blagojevic Lucani EUR 4.4 million.

Prvi Partizan Uzice will get EUR 4 million for the construction of a new factory building, FAP will get EUR 2.5 million, Moma Stanojlovic Aviation institute Batajnica EUR 4 million, Technical Overhauling Institute Cacak EUR 3 million and Technical Overhauling Institute Kragujevac EUR 2 million.

Vucic also emphasized that RSD 174 million, i.e. around EUR 1.5 million, would be invested in three new facilities at the Nikinci testing center.
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