Government to adopt program for revival of industrial centers

Belgrade, April 29. 2010 (Serbia Today) - Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said yesterday in Novi Pazar that the government will adopt a special program in May for the revival of industrial centers. Dinkic, who visited Novi Pazar together with Minister of Labor and Social Policy Rasim Ljajic, said that this program will cover Novi Pazar, Nis, Kraljevo and Zajecar. He explained that the program will entail special incentives for investors who open new workplaces in these towns. For example, investors in Novi Pazar will have double incentives from the budget per new employee. The Minister said that this town has a very high unemployment rate of 50% and that the government will especially encourage investors who want to build new production plants and renovate existing ones. He added that an office of the Development Fund will be opened in Novi Pazar, which approves soft loans for active industries in underdeveloped areas. Dinkic explained that these loans require a mortgage in the amount of 50% of the loan, the annual interest rate of 2.5% is fixed and the repayment period is five years. These loans will help companies that employ workers in the furniture, textile, shoe and machinery industries. Dinkic and Ljajic spoke with Novi Pazar Mayor Meha Mahmutovic and with the region’s businessmen. At the beginning of the visit, the ministers visited the Tahirovic furniture factory. This company is an example of a successful industry which not only produces goods for the Serbian market, but for export as well.