Serbia's Minister of Economy and Regional Development Nebojsa Ciric signed Thursday in Belgrade a contract with Sitel, awarding the company non-repayable incentives of EUR 2,500 per worker hired, which will allow Sitel to employ 300 people.

Sitel is a leading global provider of shared services for many international companies, offering administrative, financial and engineering services and covering everything a company requires to succeed in different markets.

The total value of the investment is EUR 1,250,000, which will be used to open a modern call center in New Belgrade, with the state providing EUR 750,000 in investments.

The center will open in September and offer services to clients in Western Europe.

Over the next three years, Sitel plans to employ up to 2,000 people in Serbia.

Minister Ciric pointed out it was very important to have a company of this magnitude coming to Serbia, noting Sitel was a leader in shared services and had over 52,000 employees in 26 countries.

Sitel Europe Ltd. Director Timothy A. Schuh said the company was one of the biggest in the world in its area.

In the last year, the company conducted comprehensive research and we are pleased that we can start business operations in Serbia as of today, Schuh said.

Sitel Worldwide Corporation was founded in 1998 and currently operates in 26 countries, offering services to clients from over 135 locations across North and South America, Europe, Asia and the Pacific.