Home / Knowledge / News / Apparel/Garments / Calzedonia to invest €20mn in Serbia & create 1000 new jobs
Calzedonia to invest €20mn in Serbia & create 1000 new jobs
30
Nov '11
Minister of Economy and Regional Development Nebojsa Ciric, Calzedonia's director of investment Francesco Ruffoli and Subotica Mayor Sasa Vucinic signed an agreement on Calzedonia's new investment in Subotica worth €20 million which will create 1,000 new jobs by 2014.

The new factory in Subotica will spread on 18,000 square metres.

The city of Subotica will provide land free of charge in the industrial zone of Mali Bajmok.

Ciric said that this investment is another proof that Serbia is leader in the region in attracting foreign investment his year, adding that the goal of Serbia is to attract investments for export production.

Attracting foreign investment, combined with concrete government measures, is the best way to deal with the global economic crisis, he said.

The investment in Subotica is another in a series of new investments in Serbia in a time when factories are shutting down and workers are being laid off in developed countries, he observed.

The Minister said that with foreign investments we can change the negative trend in Serbia of the past two or three years and move towards a reduction in the unemployment rate.

Ciric explained that Calzedonia already has one factory in Sombor, in which more than €20 million has been invested. It employs around 700 people and plans to take on at least 200–300 more workers.

Ruffoli stated that Calzedonia intends to expand production in Serbia and Croatia, adding that it is difficult to achieve investment conditions in Italy to open factories such as the ones in Sombor and Subotica.

Calzedonia has been doing business in Serbia under the name of Fiorano since 2007, and in 2010 it opened its first factory in Sombor producing children's, women's and men's hosiery, swimwear and underwear.

Calzedonia received an additional €800,000 to expand its investment in Sombor, namely €2,000 for each of the 400 new jobs.

The company has developed a network of approximately 3,000 stores worldwide, creating more than €1 billion in revenue per year.

Government of the Republic of Serbia

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