Home / Knowledge / News / Textiles / Investment opportunities in textile industry
Investment opportunities in textile industry
20
May '11
Minister of Economy and Regional Development Nebojsa Ciric said that over €175 million has been invested in the Serbian textile industry within the programmes for support to investments and creating new jobs.

At a "Textile industry in Serbia – investment opportunities and cooperation" conference, organised by the Serbian Investment and Export Promotion Agency (SIEPA), Ciric said that this enabled the opening of approximately new 7,000 jobs, while the government supported investors with more than €30 million.

The Minister said that the textile and automotive industry are the two sectors in the country in which the incentives successfully attracted investors and new jobs.

He said that some German companies, with which the Serbian textile producers recently spoke in Frankfurt, showed interest in investing in Serbia.

Ciric recalled to Italy's Benetton will invest €50 million in Nitex and, after completion of the modernisation in 2012, Benetton will employ 2,700 people and will have an annual production worth approximately €75 million, more than 90% of which will be for export.

Serbia is facing two key problems to be solved - the "gray economy" and uncontrolled imports from the People's Republic of China, said Ciric.

He pointed out that the line ministry is aware of the difficulties, especially as the tax benefits in Serbia are high, standing at about 64% of the total amount of net earnings.

Ciric said that the introduction of tax incentives for new employments is a first step towards systematic reduction of taxes and contributions on wages in Serbia.

Currently this is not possible as the lack of inflow to the budget would have to be compensated by increasing the value added tax or other taxes, which would be counterproductive, he said.

SIEPA Director Bozidar Laganin stated that Serbia has so far attracted over $20 billion in FDI and huge contribution in this respect was made by investors in the Serbian textile industry.

Laganin recalled that Serbia is currently a signatory of free trade agreements with the EU, the United States, Russia, Belarus, as well as countries of the Central European Free Trade Agreement (CEFTA) and the European Free Trade Association (EFTA), noting that all of this indicates considerable export potential in the future.

The conference is dedicated to Serbia's investment potential in the textile industry, a Decree on attracting FDI, a new programme of the National Employment Service, implementation and benefits of trade agreements, customs regulations, the Law on free zones and an analysis of the current issues in corporate operations.

Government of the Republic of Serbia


Must ReadView All

UNIDO, eWTP discuss strengthening ties to back e-commmerce

Textiles | On 25th Apr 2018

UNIDO, eWTP discuss strengthening ties to back e-commmerce

United Nations Industrial Development Organisation director general...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

Leave your Comments


April 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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

Active Poll

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

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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