Prime Minister and Minister of the Interior Ivica Dacic voiced his expectation that the agreement on the construction of a new shoe factory in Vranje, signed with Geox footwear producer, will be soon implemented, bringing profit to Geox, jobs and good salaries to Vranje residents and stable revenues to the state.
After Minister of Finance and Economy Mladjan Dinkic and Geox President Mario Moretti Polegato signed the agreement on allocating the funds for direct investments which will enable the employment of 1,250 workers in the new factory, Dacic underlined that such investments in industrial development and infrastructure are the only way to overcome the crisis.
A total of €15.8 million will be invested in the factory, he said, adding that the activities in the period ahead will be aimed at reviving the economy and attracting investors, but also resolving the problems of Smederevo Iron and Steel Works.
Dinkic noted that Geox’s investment will bring stable living to 1,250 families, affirming that he has been assured by Geox executives that the company will boost its capacity and hire more workforce should the need arise.
Geox intends to build a shoe factory in Vranje which will produce high quality women’s footwear, with the annual output of 1,250,000 shoe pairs.
This is the second world shoe producer and the Serbian government will endorse its investments through the Programme for encouraging direct investments, namely by allocating it €9,000 per each new created job.
Dinkic and Moretti signed a Project framework on mutual rights and obligations between Serbia, the town of Vranje and the Italian company.
Geox currently does business in 103 countries worldwide and is one of the largest footwear producers in the world. Its product assortment includes women and children’s classic, business, sports and fashionable clothing and footwear.
It has production facilities in China, Vietnam, Indonesia, South Korea and Brazil.
Source Serbia Gov.
