Author Topic: Serbian economy (Read 40930 times)

Slobodan · « **on:** July 06, 2021, 01:04:03 PM »

"German company MTU Aero Engines, a leading manufacturer of aircraft engines and a global player in the aviation industry, today in Nova Pazova began work on the construction of a factory facility for repairing aircraft engines MTU Maintenance Serbia."

https://www.b92.net/eng/news/business.php?yyyy=2021&mm=07&dd=05&nav_id=111174

"The investment is worth a total of about 100 million euros, and in the first phase, up to 500 people will be employed, and a total of 1.800 to 2.000 jobs will be created.

As previously announced, the MTU plant in Serbia will be able to perform about 400.000 hours of overhaul a year."

"German company MTU Aero Engines, a leading manufacturer of aircraft engines and a global player in the aviation industry, today in Nova Pazova began work on the construction of a factory facility for repairing aircraft engines MTU Maintenance Serbia."

"The investment is worth a total of about 100 million euros, and in the first phase, up to 500 people will be employed, and a total of 1.800 to 2.000 jobs will be created."

"As previously announced, the MTU plant in Serbia will be able to perform about 400.000 hours of overhaul a year."

"We will build a state-of-the-art factory for the production of parts for aircraft engines here," Becker pointed out.

"The factory will be built in the newly formed industrial zone, which is only 25 kilometers from Belgrade's "Nikola Tesla" airport."

"MTU Aero Engines is a leading aircraft engine manufacturer and a global player in the industry. MTU is also a technological leader in the field of low pressure turbines, high pressure compressors, central turbine frames as well as production processes and repair techniques. "

https://en.wikipedia.org/wiki/MTU_Aero_Engines

Ulli · « **Reply #1 on:** July 06, 2021, 01:16:05 PM »

They run away from Zone A, because the high taxes and regulations make it impossible to compete internationally.

Expect more to come.

Good for you!

Slobodan · « **Reply #2 on:** July 06, 2021, 02:12:35 PM »

This is one of the biggest foreign direct investment. This company is big, the leading in the industry. The maintenece center will start working in 2023. In the future, they may open a research and development center.

In the last few years we had a decent number of big freign companies opening their factories and even development centers here.

For example, off the top of my head, Japanese Nidec electric motor company: https://ras.gov.rs/en/japans-nidec-announces-15-bln-serbia-electric-motor-hub-plan

"Nidec Corporation officially announced its decision to open a new European production hub in the city of Novi Sad in the Republic of Serbia. It is a 1.5 billion euro ($1.8 billion) worth investment in the construction of the factory of motors for electric vehicles (EV) and household appliances."

https://en.wikipedia.org/wiki/Nidec

Again, they may open an R&D center. We have good mechanical, electrical engineers and a lot of IT people too.

We also have a German ZF Group factory and a research and development center already.

https://seenews.com/news/germanys-zf-group-opens-160-mln-euro-ev-parts-factory-in-serbia-657874

https://en.wikipedia.org/wiki/ZF_Friedrichshafen

We have a Texas Istruments' daughter company Elsys Eastern Europe research and development center. Not sure why they call it Eastern Europe, when Serbia is in South-Eastern Europe, but our engineers develop chip designes and send ithem to Texas Instruments in USA for validation and manufacture.

https://www.elsys-eastern.com/

Slobodan · « **Reply #3 on:** July 14, 2021, 12:03:28 PM »

"Economic growth at 8 pct (flash assesment over 8%) in first six months of 2021."

http://www.tanjug.rs/full-view_en.aspx?izb=668386

"EBRD upgrades Serbia's 2021 GDP growth projection from 3 to 6%"

https://seenews.com/news/ebrd-upgrades-serbias-2021-gdp-growth-projection-to-6-745897

Ulli · « **Reply #4 on:** July 14, 2021, 01:39:01 PM »

Quote from: Slobodan on July 14, 2021, 12:03:28 PM

"Economic growth at 8 pct (flash assesment over 8%) in first six months of 2021."

http://www.tanjug.rs/full-view_en.aspx?izb=668386

"EBRD upgrades Serbia's 2021 GDP growth projection to 6%"

https://seenews.com/news/ebrd-upgrades-serbias-2021-gdp-growth-projection-to-6-745897

If you don't join the EU it will go on like this.

Slobodan · « **Reply #5 on:** July 15, 2021, 01:22:04 PM »

Government wants to join, but EU does not want us anyway. Which is good.

Slobodan · « **Reply #6 on:** July 15, 2021, 01:26:41 PM »

Belgrade (capital city) Waterfront (huge) project. Before and now (well, 2020):

https://www.youtube.com/watch?v=zzvheli1wiI

https://www.belgradewaterfront.com/en/

https://en.wikipedia.org/wiki/Belgrade_Waterfront

Transformed this part of the city, which was a dump.

Drone footage, from this week: https://www.youtube.com/watch?v=dagUOSLadqI

Slobodan · « **Reply #7 on:** July 26, 2021, 11:07:38 AM »

"Serbia is an Emerging Innovator. Over time, performance relative to the EU has increased."

"Serbia’s strengths are in Innovators, Firm investments and Employment impacts. The top-3 indicators include Non-R&D innovation expenditures, Product innovators, and Employment in innovative enterprises. The improvement in innovation performance in the last two years is the result of improved performance for Broadband penetration, Venture
capital, Product and Business process innovators, Design applications, and Employment in innovative enterprises.
Serbia has above average shares of In-house product innovators without market novelties and Innovators that do not develop innovations themselves."

https://ec.europa.eu/docsroom/documents/46234/attachments/1/translations/en/renditions/native

Slobodan · « **Reply #8 on:** July 29, 2021, 09:02:44 AM »

Serbia signed today an agreement with Northern Macedonia and Albania to form "Open Balkan" econimic zone.

https://en.wikipedia.org/wiki/Open_Balkan

Slobodan · « **Reply #9 on:** July 31, 2021, 08:08:14 AM »

Serbian GDP growth in the first 6 months of 2021 is 7.5%.

Slobodan · « **Reply #10 on:** August 02, 2021, 11:19:32 AM »

New mineral, only found in Serbia, Jadarite: https://en.wikipedia.org/wiki/Jadarite

Discovered in 2004, named after Jadar Valley in Serbia, contains Lithium.

Now Rio Tinto had aproved 2.4 billion Dollars investment in mining Lithium (from Jadarite) in Serbia:

https://www.bloomberg.com/news/articles/2021-07-27/rio-tinto-approves-2-4-billion-to-build-serbian-lithium-mine

Slobodan · « **Reply #11 on:** August 19, 2021, 02:08:29 PM »

Serbia's central bank raised the expected GDP growth for the 2021 to 6.5%.

Slobodan · « **Reply #12 on:** October 06, 2021, 01:41:32 PM »

EBRD increased the GDP growth forecast for Serbia for 2021 from 5% to 6%.

Slobodan · « **Reply #13 on:** October 06, 2021, 01:51:45 PM »

"U.S.-based automated teller machine (ATM) manufacturer National Cash Register (NCR) has opened a $100 million campus in Belgrade"

This will employ 5.000 people.

https://seenews.com/news/atm-producer-ncr-opens-100-mln-campus-in-serbia-756422

Slobodan · « **Reply #14 on:** October 12, 2021, 03:00:31 PM »

IMF increased the projection for Serbia's GDP growth for 2021 to 6.5%.

Slobodan · « **Reply #15 on:** October 15, 2021, 03:04:09 PM »

The German company Brose opened a newly built factory and Research and Development Center in Pancevo, Serbia. Will employ 1.100 people.

https://www.b92.net/eng/news/business.php?yyyy=2021&mm=10&dd=14&nav_id=111984

https://en.wikipedia.org/wiki/Brose_Fahrzeugteile

Slobodan · « **Reply #16 on:** November 29, 2021, 01:30:51 PM »

Serbia secures cheap gas supply from Russia for the next 6 months.

"The price, set at $270 per 1,000 cubic meters, is considerably lower than the current spot price and has been extended for an extra six months on the same terms. Last month, LNG prices in Europe hit a record high of $1,900 per 1,000 cubic meters."

Slobodan · « **Reply #17 on:** January 15, 2022, 01:52:12 PM »

Serbia finished 2021 with a 7.5% GDP growth rate.

Slobodan · « **Reply #18 on:** January 21, 2022, 03:26:28 PM »

Serbia scraps plans for Rio Tinto lithium mining licence

"The decision in effect pulls the plug on a potential $2.4bn (£1.8bn) investment by Rio Tinto in developing the country’s lithium resources, which could have made Serbia one of the world’s biggest producers of the highly sought-after metal used in the manufacturing of electric vehicles."

https://www.theguardian.com/world/2022/jan/20/serbia-scraps-plans-for-rio-tinto-lithium-mine-after-protests

Opossition in Serbia had successfully stiked a blow to the Serbian economy, just to get a few political points.

Slobodan · « **Reply #19 on:** January 26, 2022, 11:08:13 AM »

"Aleksandar Vucic (Serbian President) insists Western governments funded protests that sunk $2.7 bn lithium mine "

https://www.rt.com/news/546922-serbia-protest-foreign-funding/

Slobodan · « **Reply #20 on:** March 08, 2022, 12:13:40 PM »

Europe is now paying 2.700 Euros per 1.000 cubic meters of gas. Serbia is paying 270 Euros. Ops! Perks of being on the "wrong" side of history.

Slobodan · « **Reply #21 on:** September 24, 2022, 07:58:54 AM »

US-based Rivian (electric car company) to open R&D centre in Serbia:

https://seenews.com/news/us-based-rivian-to-open-rd-centre-in-serbia-pm-brnabic-798771
https://en.wikipedia.org/wiki/Rivian