CoC Head: Serbia to Receive Another EUR1 Billion in Chinese Investments

Marko Cadez (BETAPHOTO/DRAGAN GOJIC)

On May 27, on occasion of Serbia’s official delegation visiting China and signing new investment agreements with leading Chinese companies, Serbian Chamber of Commerce president Marko Cadez announced that Serbia will be receiving new sizable investments from China. The projects will range from infrastructure to robotics, he added, since Serbia is becoming increasingly attractive for hi-tech development and production.

“Contracts worth EUR945 million, almost one billion, were signed with Chinese companies for new investments. About 2,000 companies in Serbia are operating with Chinese capital, while the 37 largest employ over 40,000 workers and have so far invested about EUR7.7 billion [in the country], while their number of employees has grown by as much as 45 percent in the past three-four years,” Cadez told the RTS public broadcasting service.

Cadez called the planned construction of a robot factory a fantastic opportunity for Serbia in many ways because it involves the most advanced technology and will be the only plant of its kind on European soil.

According to him, it is understandable that Brussels wants to protect its market in a world that has shifted from globalization to regionalization and proprietary technology, but that the market cannot be protected from that which is newer and better, while the Chinese companies investing in Serbia are already collaborating with the leading brands of Europe’s automotive industry and are trying to abide by all standards prescribed by Brussels.

The CoC head opined that Europe is attempting to find a new way of relating to both the U.S. and China, which is not easy given that the political arena is far from homogenous, and added that an increased presence of Chinese cars in Europe could lead to a drop in the prices of European vehicles.