November 21st

Prime Minister Aleksandar Vucic said today at the Serbian-Hungarian business forum in Nis that good political relations between the two countries open the possibility for full cooperation in all fields of economy and announced direct connecting of entrepreneurs and companies. Speaking at the business forum held after the joint session of the two governments, Vucic told the Hungarian investors that the Serbian government will provide the best possible conditions for business. He told investors from Hungary that Serbia offers well-trained labour force, as well as very good incentives for any business they might want to start. According to the Prime Minister, our country also offers subsidies per job, the joint construction of infrastructural facilities, production facilities, access roads and more. Serbia can offer better conditions than any other country in the region, the Prime Minister underlined and added that it is also necessary to encourage Serbian investors try to invest in Hungary. Vucic pointed out that today a contract with a major Japanese company was signed which will employ 1,700 people in Sabac, while German factory Kromberg &Schubert, which specializes in production of car parts, has opened its production plant in Krusevac. The Serbia-Hungary Business Forum, which has gathered 250 businessmen and 170 companies, has been organized by the Serbian Chamber of Commerce and the Hungarian National Trading House.  According to data of the Serbian Statistical Office, the total foreign trade between Serbia and Hungary stood at €1.1 billion last year, which is approximately €50 million more in comparison to 2014, i.e. by 4.9% more.  In the first eight months of 2016, the trade between the two countries increased by 5% in relation to the same period last year, which was encouraged by the opening of Hungarian trade representative offices. Total export of goods to Hungary in 2015 stood at € 320.9 million and it accounted for 2.7% of the total export of Serbia.

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