Home / Knowledge / News / Textiles / PM opens business incubator centre in Yumco factory
PM opens business incubator centre in Yumco factory
24
Sep '10
Prime Minister Mirko Cvetkovic opened a business incubator centre in the Yumco textile factory in Vranje on the factory's 50th anniversary and underlined that the government will support development of entrepreneurship in Pcinja district.

The business incubator centre is a joint project involving the Serbian government, the city of Vranje and Yumco.

The Serbian government supports the work of Yumco and is trying to stabilise the production of the factory, which employs 2,000 workers, the Prime Minister said and added that the creation of new jobs and an increase in exports are the government's priorities for the near future.

He noted that although salaries of employees in Yumco are not high, ranging between RSD 12,000 and RSD 15,000, a basis has been created for the production of the first amounts of goods for export.

Minister for the National Investment Plan (NIP) Verica Kalanovic outlined that the NIP, in cooperation with other state institutions, has financed the opening of the business incubator centre, in which eight companies will be opened and 40 workers employed.

This centre has space for 14 small enterprises, she explained and specified that RSD 20 million has been invested so far from the NIP in the opening of this centre and RSD 6.4 million is intended for this purpose in 2010.

Yumco Director Zoran Stosic confirmed that the factory currently has a production contract with the state worth €3 million, as well as contracts with Elektroprivreda Srbije, Telekom Srbija and the Belgrade water supply company.

Stosic underlined that 60% of the factory's production capacity is engaged at the moment and voiced the hope that its full capacity will be utilised by the end of the year.

YUMCO A.D. is one of the largest textile companies in this part of Europe and it employs 3.000 employees in its complete production program, which ranges from the basic fiber to the completed garment.

Serbian Government


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Global growth to pick up in 2017 and 2018: IMF

The pickup in global growth anticipated in the April World Economic...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X