Minister claims: GEOX REPAID TWICE the investments of the state

Former workers of Geox will certainly not be left without jobs, and the contract with Geox did not damage the state, the Ministry of Economy claims.

The Italian company received the incentives worth 11 million euros and another million euros for infrastructure through the local self-governments, but it invested 15.5 million euros stipulated by the contract.

In five years, which is how long they had production in Vranje, they paid 25 million euros as salaries, taxes and contributions to the state budget, explains Minister of Economy, Andjelka Atanaskovic.

Atanaskovic told RTS TV that Geox worked in the portfolio of the Ministry of Economy until 2019.

„It settled all those obligations based on the contract, and I can say that, as far as investments and incentives are concerned, and the payment of salaries, taxes and contributions, they paid to the state two or more times more than they took as incentives,“ Atanaskovic points out.

Namely, the Nezavisnost.org portal reported yesterday that the employment of 1,250 workers and the opening of the factory of the Italian company Geox in Vranje in 2016 cost a total of 20 million euros in subsidies, i.e. 16,000 euros per job post, while the footwear manufacturer did not pay a third into the Serbian budget, through taxes and contributions.

Izvor: RTS

Foto: Beta/Ministarstvo privrede