Minister of Economy and Regional Development Nebojsa Ciric signed Thursday a subsidy contract with the Banini confectionery company, which should stimulate investments and allow the company to hire 200 new employees.

The ministry's investment subsidy programme will grant Banini EUR 1 million, or EUR 5,000 for each new employee, to build a new factory. The total investment stands at EUR 28.05 million and involves the construction of a new factory, which will cover 18,400 square metres, as well acquisition of new production and packing equipment.

The government will always help companies like Banini, all in an effort to increase export and create new jobs, Ciric stated after the signing.

Kikinda has a 19.2 percent unemployment rate, Ciric noted, adding that the subsidies will result in 200 new jobs for the people there, who will work in good conditions and live off their earnings.