Officials of the Serbian government and Swarovski International Holding AG signed on Friday a Memorandum of Understanding, by which they created pre-conditions for the world’s leading crystal jewelry manufacturer to invest into the opening of a factory in Subotica (northern Serbia).
The Memorandum was signed by Serbian Minister of Economy and Regional Development Nebojsa Ciric, Mayor of Subotica Sasa Vucinic and Austrian Ambassador Clemens Koja at the presidential building in Belgrade.
After the signing of the document, Minister Ciric said that the preparations will start as of today, in order for the holding company to begin the construction of the production hall in Subotica in December. Ciric specified that, in the first phase, the investment will be worth EUR 15 million, and in the second EUR 25 million, adding that 600 citizens of Subotica will get a job in the factory.
Namely, this will be the first Swarovski factory out of Austria, and the investment was obtained in the competition with a number of countries which showed interest in the cooperation with this multinational company.
The investment and the presence of Swarovski is yet another proof that Serbia is very attractive for foreign investors, Ciris said, and expressed belief that similar agreements will be signed with another two foreign investors.
This investment shows that the government’s strategy is producing results. We now have a production intended for export, and opening of new working places in the situation of the worst world’s economic crisis ever, he stated. The Memorandum should have also been signed by Swarovski Executive Board Marcus Langes-Swarovski, but he, however, could not land in Belgrade due to fog.
Serbian Minister of Environment, Mining and Spatial Planning Oliver Dulic was also present at the signing of the document. Austrian Ambassador Clemens Koja stated that by signing this document, the Serbian government showed great professionalism, and stressed that Swarovski is hoping for a long-term and successful cooperation.
Mayor of Subotica Sasa Vucinic expressed expectation that the city will justify the company’s confidence, and added this will not be the last large company to be manufacturing in the Subotica industrial zone.
Representatives of the Ministry and the Serbia Agency for Investment and Export Promotion (SIEPA) also participated in negotiations with the company, in cooperation with the Austrian Embassy.
Swarovski International Holding AG, headquartered in Switzerland, produces crystal jewelry and decorative figurines, as well as crystals for fashion industry and chandeliers. The holding company, which employs around 23,000 people in 120 countries worldwide, made a turnover of EUR 2.06 billion in 2010.