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IKEA to invest about billion euros in Serbia

16. June 2010. | 06:23

Source: EMGportal

Minister of Trade and Services Slobodan Milosavljevic told that Swedish furniture company IKEA has chosen Serbia to be its regional center and plans to build five shopping malls in our country in the next five years the
value of which will amount between EUR 800 million and one billion euros.

Minister of Trade and Services Slobodan Milosavljevic told that Swedish furniture company IKEA has chosen Serbia to be its regional center and plans to build five shopping malls in our country in the next five years the
value of which will amount between EUR 800 million and one billion euros.

By 2015, IKEA plans to build two shopping malls in Belgrade, one in Kragujevac, central Serbia, one in Nis, south Serbia and one in Novi Sad, north Serbia, Milosavljevic stated, adding that those are the facts that he can confirm at the moment based on the talks with IKEA officials and the Swedish ambassador in Belgrade.

Milosavljevic expressed expectation that beside IKEA, at least one large company that has a hypermarket chain, and ten big brands, which are currently not present at the Serbian market, will also come to Serbia.

"I am certain that such a big company, the leader of the world business, will keep to the plan," Milosavljevic said, adding that he has been negotiating with IKEA for many years so far, particularly on its investment in furniture production and wood processing industry in Serbia.

IKEA is considering the possibility of buying products in Serbia for the needs of its shopping malls in other countries, and in the manner, it may contribute to the rise in competitiveness, quantity and quality of production of the domestic furniture industry and the entire wood-processing industry.

The talks on each of the issues have made progress and the phase of negotiation is still underway, Milosavljevic said.

He expressed the hope that at least one big company from the world’s famous hypermarket chains and another ten brands will follow Ikea in Serbia.

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