Source: eKapija | Wednesday, 16.10.2019.| 10:09
Highlight an article Print out the news

Financial Times awards Free Zone Pirot in four categories – Investments of EUR 50 million planned

Illustration (Photo: Carole Castelli/shutterstock.com)
A special publication of the Financial Times, fDi Magazine, has published the report titled Global Free Zones of the Year 2019, with Free Zone Pirot receiving awards in 4 categories..

Editor's Choice Award in the category of Supporting Surrounding Area went to Free Zone Pirot:

– Free Zone Pirot in Serbia has been credited for supporting its surrounding area. For the first time, 11 hectares of free zone territory is being extended to the underdeveloped and devastated neighboring municipalities of Dimitrovgrad and Babušnica. The expansion will see the creation of 121 jobs. Eco Rubber will start production in Dimitrovgrad in 2019, investing EUR 2.5 million in a new plant recycling waste tires – fDi Magazine writes.

Free Zone Pirot also won a Special Award for Connectivity:

– Construction of the Pan-European Corridor X, which connects the city of Belgrade to Sofia and Istanbul, will bolster Free Zone Pirot’s strategic position in the Balkans. The interchange that connects the Corridor X highway and the zone is located 300 meters from the entrance to Free Zone Pirot. A logistics center has also been constructed with two main infrastructural parts: a rail-road terminal plus 35 hectares of infrastructure land for warehouses, plants and other supportive facilities, which will enable haulers to shift transit goods from road to railway.

Regarding the expansion, an investment of EUR 50 million is planned in the upcoming period by the existing users of Free Zone Pirot, it is announced on the zone's website.

Investors in Serbia’s Free Zone Pirot have access to general country-level incentives including low tax rates; no VAT and customs duty on imported raw materials; no customs duty on imported machinery and spare parts; and no customs duty and VAT on construction materials. Companies also benefit from incentives provided by the city of Pirot including no local taxes, fDi Magazine adds.
Only logged-in users can comment.