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

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Suresh P Bagrecha

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

October 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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