Source: eKapija | Monday, 09.07.2018.| 09:30
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Germany's Norma invests EUR 32 million in Serbia so far

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Illustration (Photo: Nataliya Hora/shutterstock.com)
Serbian Prime Minister Ana Brnabic visited Germany's Norma Group in Subotica as part of the celebration of the government's first anniversary. The company has invested over EUR 32 million since it started operating in Serbia.

Norma Group, which develops and produces quick connectors, hose clamps, retaining clamps and pipe couplings for the automotive industry, currently employs 1,200 people and exports to 50 countries worldwide, as reported on the government's website.

Brnabic visited the facility and was introduced to the production processes and working conditions at the factory together with Provincial Prime Minister Igor Mirovic, Mayor of Subotica Bogdan Laban and representatives of the Embassy of Germany in Serbia.

Brnabic pointed out that Norma was an example of the kind of investor Serbia needs. Norma Group Serbia is not just a distribution center, but also a production facility, with each stage in the production taking place in Subotica. Local knowledge and creativity are used, which is exactly what the government advocates – the strengthening of an economy based on innovations and knowledge – the prime minister stated.

The net inflow of direct foreign investments in the first five months of 2018 amounts to more than EUR 1.1 billion, which is nearly EUR 160 million or 15.8% more than in the corresponding period in 2017, Brnabic said.

The prime minister also said that Germany was one of the countries whose companies have invested the most in Serbia. There are currently over 400 German companies which operate in Serbia, employing over 45,000 of its citizens. The goal is to enhance the economic and the political cooperation of Serbia and Germany even further in the future, Brnabic emphasized.
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