Germany and Serbia : “Investment Love” Worth 2.5 Billion Euros

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Photo: Pixabay

Germany already ranks first in the volume of foreign trade with Serbia, which in 2017 amounted to about 4.4 billion euros. The strongest EU country has invested about 2.2 billion euros in Serbia and has created 45,000 jobs so far, writes Blic.

German businessmen continue to invest in Serbia, and this is mostly supported by the recent announcement of ZF’s arrival from the German province of Baden-Württemberg, which will open a plant in Pancevo. According to the announcement by Serbian officials, the ZF will invest a total of 160 million euros in Pancevo and employ more than 1,000 people. As we learn, the Germans will build a complex of 25,000 square meters on a 10.8 hectare site in Pancevo in the industrial-business zone.

In the first phase, 540 jobs are expected and about 500 more coming at a later time. In Pancevo, the production of electric drive axles, electric tow motors and transmission control units is planned, amongst others. In addition to this investment, a large German manufacturer of spare parts for the auto industry “Forverk Autotek” will build its own plant in Cacak.

Source: Blic

Photo: Pixabay