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Čadež: 40 Billion Euros in Green Transition Investments by 2040

Oct 10, 2024

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New investments amounting to 40 billion euros are expected by 2040 as part of Serbia's green transition process, stated Marko Čadež, the president of the Chamber of Commerce and Industry of Serbia (CCIS), at the Hamburg Sustainability Conference.

Čadež emphasized the importance of Serbia's delegation, led by President Aleksandar Vučić, attending the conference, noting that among the 11 world leaders present, Vučić and German Chancellor Olaf Scholz were the only ones from Europe.

"This speaks volumes about the potential and what we can expect in the future from strategic cooperation with both Germany and the EU," Čadež pointed out.

He reminded that Germany is Serbia's most important economic partner and largest export market and that this country is now becoming a partner in Serbia’s new investment cycle focused on new technologies, particularly the so-called green industrial revolution, especially in e-mobility.

He mentioned that since 2012, Serbia has attracted 40 billion euros in foreign direct investment (FDI), crediting this achievement to President Vučić, his team, and Danilo Cicmil, the president’s investment advisor.

Half of the 40 billion euros in FDI has been invested in Serbia’s automotive industry, Čadež explained, adding that this sector is now transitioning to the production of electric vehicles and e-mobility, which will lead to a new investment cycle. By 2040, further investments of around 40 billion euros are expected as part of Serbia’s green transition.

He noted that the current crisis in the German auto industry has not yet affected Serbia, describing it as a structural crisis in Germany that could allow regional manufacturers to increase production, making Serbia even more important to Germany.

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