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Japanese Investments in Serbia are worth 200 Million Euros, Trade Exchange is Growing and New Technologies are an Opportunity for Growth

Oct 5, 2022

Photo: Tanjug

Japanese investments in Serbia have reached 200 million euros out of which more than half have been invested in the past two years. The foreign trade exchange between the two countries is growing despite the geographical distance and logistical challenges and has reached 400 million euros, it was pointed out at the opening of the Serbia-Japan Business Forum, which gathered representatives of more than 70 companies at the Chamber of Commerce and Industry of Serbia (CCIS).

Japan is a stable investment and economic partner to Serbia, and there are great opportunities for cooperation in the food industry, new technologies, production of electric vehicles, and development of IT services," said Mihailo Vesović, Director of the Sector for Strategic Analysis, Services, and Internationalization of the Chamber of Commerce and Industry of Serbia.
He added that Serbian companies should take advantage of the opportunity and connect with Japanese partners who are leaders in economic and industrial development.
Japan is also one of the biggest donors to Serbia, and the two countries are celebrating 140 years of friendship this year, Vesović pointed out.
"Many Japanese companies are interested in business development in Serbia, and I hope that this forum will be an opportunity to properly present the possibilities of cooperation between the two countries, companies to connect and cooperate in the future," said the Ambassador of Japan to Serbia, Takahiko Katsumata.
He emphasizes that the Government of Japan supports the development of economic relations with a series of initiatives, as well as regional cooperation with all companies of the Western Balkans.
"In 2022, Japanese investments were among the most numerous in Serbia. Investments are growing on a yearly basis, and in 2021 alone, Japanese investments have grown significantly - to over 108 million euros. From 2010 to March of this year, foreign direct investments from Japan reached 200 million euros," said Radoš Gazdić, acting director of the Development Agency of Serbia.
He added that Japanese companies that opened their production facilities and expanded their operations in Serbia, such as Japan Tobacco International, Yazaki, Toyo Tires, NIDEC Corporation, Mitsubishi, and others, bring not only investments but also knowledge and high technologies.
Nikola Janković, Director of the International Cooperation Sector of the Development Agency of Serbia, presented Serbia's investment potential, business advantages, and investment opportunities in the Serbian economy.
"We see our country as a kind of gateway between East and West, and we have always been on that border between great empires." This created a mix of various cultures and influences, and now we have people who know various cultures and languages, and who love to work," Janković said.
Goran Pekez from the Japanese Business Alliance in Serbia and the Council of Foreign Investors highlighted several ways in which Japanese companies can enter Serbia, especially through the opening of production facilities, and training centers, as well as investments and business in the IT sector.

"I especially want to emphasize that Japanese companies see us as a quality market when it comes to qualified labor, and we are competitive there. There are numerous challenges in that sphere, but I think we will successfully overcome them in the future," said Pekez.
The business of the Yazaki company, which has been operating in Serbia for five years, was presented by the company's manager, Darko Ćirić, who said that they chose this country for several reasons, primarily because of its favorable logistic position.
"Šabac, the place where our cable industry is located, is an hour from Novi Sad and Belgrade, close to the highways, as well as near the Czech Republic, and Romania, as the main suppliers at that time. Also, there is a qualified workforce here, the Serbs have that proven "stubbornness" in sports, that is, the attitude that they will do everything despite how difficult it is, which makes them good workers," said Ćirić.
The general director of the Japanese Foreign Trade Organization (JETRO) in Vienna, Tatsuo Kamino, said that the cooperation between CCIS and the Embassy of Japan in Serbia is exceptional and that it supports as many as 14 Japanese companies in Serbia.
The business delegation of Japan consists of 15 companies from the air transport, trade, services, information technology, metal, electrical and energy sectors.
The visit of this Japanese business delegation has been organized in cooperation with the Embassy of Japan in Belgrade, the Japanese Foreign Trade Organization JETRO and the Development Agency of Serbia.
Bilateral talks between representatives of Serbian and Japanese companies were held as part of the forum, and businessmen discussed specific partnerships.