Director of the Free Zones Directorate at the Ministry of Finance Dejan Ristic and Chairman of the Chamber of Italian-Serbian Businesspeople Vincenzo Divella today signed an agreement aimed at boosting the overall bilateral cooperation in terms of free zones.

Ristic told a press conference that the agreement, a result of good bilateral relations between Serbia and Italy, also envisages the development of free zones in Serbia through promotion, incentives to their economic development and attracting prospective investors from Italy.

He said the plan is to open two more free zones in Serbia by the end of the year, namely one in Nis and Smederevo each, recalling that there are currently seven free zones in Serbia with good geographical position: Subotica, Novi Sad, Zrenjanin, Sabac, Kragujevac, Uzice and Pirot.

By doing business in these zones, investors gain a lot of advantages and facilitations, Ristic observed, adding that Italy’s Fiat recognised the significance of free zones, and the arrival of Fiat’s partners is also anticipated.

This March the Serbian government adopted a strategy of development of free zones in Serbia 2011–2016, which provides additional stimulating measures for investors operating in these zones.

Divella said that Italy is one of the most important investors in Serbia and added that approximately 200 Italian and mixed Serbian-Italian companies operate here.

He recalled that the Chamber of Italian-Serbian businesspeople, established in 2002, has 136 members and provides comprehensive support to its companies operating in Serbia.

After the signing of the agreement, an award of the Giuseppe Maria Leonardi Chamber for success and business results in the past decade was handed over to Italy’s Progetti, which operates in Serbia.

The company, which manufactures shoes and shoe parts, was founded in 2000 and has 980 employees and production in Sombor, Vladimirci and Vrsac. It annually produces 1.8 million pairs of shoes.