Three new factories, owned by Sagem, Yura Corporation and Dytech, are going to be built in Nis, south Serbia, focusing on export and providing 900 new jobs, according to an announcement on Thursday.

Minister of Economy Mladjan Dinkic signed a construction contract with Sagem from France regarding an electronic equipment factory worth EUR 3.3 million and employing 203 workers.

Dinkic also signed a subsidy contract with Yura, a Korean company that will start building its third plant in Serbia come April. The factory will require 300 workers.

The Dytech factory, whose construction started on Thursday, will provide 403 new jobs. It is worth EUR 13.3 million.

Seventeen foreign investments are currently being realized in Nis, said Dinkic, adding that their total value stood at EUR 100 million and would supply jobs for 6,000.

Italy's Benetton is another widely renowned company that has invested in Nis, the minister noted.

Nis has become the second most important city in Serbia, after Kragujevac, in terms of foreign investments, he stressed.

The arrival of so many investors in under one year is the result of doubled government subsidies, Dinkic explained.