Director of the Serbian Investment and Export Promotion Agency (SIEPA) Laganin said that yesterday’s visit of German officials will contribute to the strengthening of confidence of German companies to invest in Serbia.

Laganin told Beta news agency that SIEPA is currently working on 25 projects with companies from Germany, noting that those investments include Falke in Leskovac, Leoni in Prokuplje, Dräxlmaier in Zrenjanin, Milbauer in Stara Pazova and Standard Group in Subotica.

He pointed out that Germany has been and remains one of the leading partners of Serbia in all sectors of the economy.

German companies have recognised Serbia as the most favourable market for new investment projects, he said, adding that since 2000 Germany has invested €1.27 billion in Serbia.

German car industry has shown the greatest interest in investment in recent years, Laganin said.

To attract new investment, it is necessary that companies already doing business are satisfied with cooperation with the administration in Serbia, he added noting that most German companies are satisfied with their operations in Serbia and are expanding their business.

He said that based on the Decree on attracting foreign investors, administered by SIEPA, 14 investment projects of German companies have so far been financially supported.

The total value of these investment projects amounted to €70.2 million and they wills open almost 5,000 new jobs, said Laganin noting that €17.9 million was set aside for this.

He said that the visit by major German officials will only instill confidence of German companies, concluded Laganin.