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IKEA to invest 200 mln euro in Serbia in five years - Serbia Business

IKEA to invest 200 mln euro in Serbia in five years

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Swedish furniture retailer IKEA plans to invest a total of 200 million euro ($239.5 million) in Serbia in the next five years, the Balkan country’s labour minister Zoran Djordjevic said on Tuesday

The Swedish company has already invested 60 million euro and has hired 330 employees in Serbia and intends to build two more units in the country in the next five years, Djordjevic said, according to a press release of the Serbian government.

IKEA will hopefully have a total of 1,200 employees in Serbia after five years, Djordjevic said during a visit to IKEA’s store in Belgrade, the Swedish group’s first in Serbia, which was opened last month.

In May, IKEA development director for Southeastern Europe (SEE) Vladislav Lalic said the company was also looking for a plot of land on the left bank of the Sava river, in the northwestern part of the Serbian capital. IKEA’s long-term plans include the opening of a store in the city of Nis, but this depends on the development of the Serbian market and the economy in general, Lalic said.