Serbian companies receive €32.4 million in state subsidies to boost production and job creation

In September, several Serbian companies received state subsidies totaling €32.4 million, as announced by the Ministry of Economy. These funds are designated for the construction of factories, expansion of capacity and the purchase of machinery and facilities.

Key Recipients and Their Projects:

• Nectar doo: Received €1.26 million to expand its fruit and vegetable processing capacity and modernize technology in Bačka Palanka and Vladičin Han. The funds will be disbursed in a single installment in 2025.
• Hemofarm Vršac: The pharmaceutical company secured the largest subsidy of €11.59 million for the expansion and automation of its production facilities. This investment will be executed over three years, with payments made in installments after initial investments are made.
• Knjaz Miloš Aranđelovac: Awarded €4.67 million for constructing an industrial complex, including an internal road. The project will create at least 100 new jobs and will be funded in two installments over the next two years.
• Elixir Prahovo: Received €9.7 million to enhance its production capacity and quality for phosphoric acid and fertilizers. The project will employ 32 new workers by the end of 2024 and will be funded in three installments.
• Pureberry doo: This company was granted €1.9 million to build and equip a facility for sorting, processing, and packing fruit and vegetables in Mihajlovac. The project will create 30 new jobs, with funds disbursed in two installments.
• Kolektor Etra Barajevo: Awarded €2.23 million for constructing a transformer factory and acquiring land in Barajevo. This project will hire at least 50 new employees and will be funded in two installments.
• Mladost Pack doo: Received €560,000 for building a new warehouse and upgrading its production plant. The company plans to employ at least 100 workers by the end of this year and will receive the funds in 2025.
• Twargum Balkans doo: This waste collection company received €417,500 to purchase a business building and equipment for producing rubber products. The project will create at least 60 new jobs and will be funded in one installment in 2025.

The Serbian government has allocated approximately €14.3 million (26.9 billion dinars) in its budget this year for company subsidies, aimed at boosting local industries and job creation.