Serbian Economy Minister Goran Knezevic and the owner of the production company Iervolino Entertainment, Andrea Iervolino, signed the Memorandum of Understanding this Friday, June 5, according to which this world-famous production company is to open its studio in Serbia, in which it will invest EUR 8.5 million.
The plan is to make an investment in the construction of a studio for the making of short, animated, web and streaming films in Serbia, to educate and employ highly qualified workers, and the plan also includes the transfer of copyright. The production of said film forms will start this year in Serbia, and the project will develop in phases in the upcoming period, the Government of Serbia announced.
Knezevic said that, according to the memorandum, the plan was for the Italian production company to open a studio where 580 highly qualified experts would be employed. According to him, Iervolino Entertainment is to found a company to which it is to transfer more than EUR 11 million in copyright.
The minister specified that the company would produce animated films, at least ten a year, worth at least EUR 150,000, and animated shows at a minimum of EUR 150,000 per episode.
Iervolino expressed his gratitude to the Government of Serbia for supporting the project and announced that the first employees would start working at their Serbian company on July 1.
He pointed out that the productions done in Serbia would be distributed worldwide, in at least 150 countries.
– Our plan is to produce content worth a billion euros within the Serbian cinematography by 2031 – Iervolino said and added that Serbia was ready to fully express its potentials and artistic knowledge.
The signing of the memorandum was attended by Serbian actor and one of the owners of the production company Archangel Studios Milos Bikovic, who had helped bring Iervolino Entertainment to Serbia.
– We all know how talented our young scientists are, how talented our athletes are, and now we will be able to show how talented we are in art, design, or writing scripts. The whole world will be able to see this – Bikovic said and added that he believed that the results would exceed the expectations.
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