A new factory is springing up in Serbia: Vučić laid the foundation stone PHOTO/VIDEO

Vučić immediately met with the company's representatives, led by JFE Shoji Corporation CEO Yoshitsugu Kobayashi.

"This is very important for us. This investment will also bring new Japanese investors," Vučić said during his address. He added that the factory will, among other things, deal with lamination, "something that goes into an electric motor."

"Between 100 and 150 people will be employed here. The investment is 51 million euros, and the Republic of Serbia helped with 2.8 million," he pointed out.

From 2016 to today, there are almost 50% more of the last ones in India. An increase in average wages was also recorded.

TANJUG/VLADIMIR ŠPORČIĆ/ bs

"I learned a lot during my visit to Japan 14 years ago. I am very much looking forward to the arrival of every Japanese company in our country," said Vučić and pointed out that compared to 2020, Serbia's exports increased 20 times, but that it should be even better.

After the address, Vučić, the director of the JFE Shoji Serbia factory and the Japanese ambassador Akira Imamura painted the eyes of a doll from the 17th century, which is a symbol of perseverance and happiness. One eye is painted for the fulfillment of a wish, and the other when the wish is fulfilled, symbolizes progress and long-term prosperity.

In addition to Vučić, the foundation stone laying ceremony for the first factory of the Japanese company in Europe was attended by the Ambassador of Japan in Belgrade Akira Imamura, Minister of Internal and Foreign Trade Tomislav Momirović, Assistant Minister for Dual Education and Training Gabrijela Grujić, President of the Municipality of Indjija Vladimir Gak.

On the Company 

The company JFE Shoji Serbia operates within one of the leading Japanese corporations, JFE Shoji Corporation.

Founded in 1954, it operates in the steel industry, currently employing more than 8,500 people in more than 54 plants and branches in the countries of Southeast Asia (ASEAN), China and North America.

It is a member of JFE Holding Inc, which operates in 22 regions worldwide with more than 64,000 employees within the group.

JFE Shoji Serbia will produce engine cores with a wide range of applications, from household electrical appliances to auxiliary and main engines for the automotive industry.

The company emphasizes that it will use the latest technologies and contribute to the development of the automotive and electrical industry both in Serbia and in Europe.

The value of this investment amounts to around 50 million euros, and the factory will employ between 100 and 150 people.