A renovated production facility, worth 2.2 million euros, was opened in the Trstenik-based Prva Petoletka-Namenska factory, which recently marked 69 years of operation.
According to the Defence Ministry, the Government of Serbia invested a grand total of 3.5 million euros in that company.
At the opening ceremony, Defence Minister Aleksandar Vulin emphasized that this company “has a bright future and is able to meet the demands of the world market,” adding that the Serbian arms industry was growing.
“The arms industry exported around 570 million euros worth of arms last year, which is 17 percent more than in 2016 and almost three times more than in 2012. This year, we expect total exports to be more than 600 million euros,” Vulin said.
According to him, the amendments to the law “will not call into question” the state’s absolute control over and ownership of the arms industry.
“By law, the Serbian state will never own less than 51% of the arms industry or lose controlling rights over it,” Vulin said.