Vucic: JFE Shoji to bring new Japanese investors to Serbia

INDJIJA - The cornerstone for a factory of the Japanese company JFE Shoji was ceremonially laid in Indjija, northwestern Serbia, on Monday.

Serbian President Aleksandar Vucic said the plant would be manufacturing motor cores for a wide range of applications.

He said the approx. 50 mln euro factory was a very important investment that would utilise leading-edge technology and bring new Japanese investors to Serbia.

"I am not the one who said this - Japan's ambassador to Belgrade has reiterated to me on several occasions that this investment might even be more important than some other, seemingly larger, Japanese investments, because this Japanese investment will also bring in new Japanese investors," Vucic said.

He said the company was a crucial supplier, being a manufacturer of electric motor laminations.

"With leading-edge technology, an 18,000 sq m factory will emerge here. A huge factory where more than a hundred people will be working. But this investment will also bring in new suppliers and I believe that, once we manage to agree everything with the Europeans about green lanes and PEM conventions and everything else, it will also bring in some of the most significant manufacturers from the automotive industry in the future," Vucic said.