Mr Ljajić: Turkish company in Mali Zvornik, job for 500 people

Deputy Prime Minister of Serbia and Minister of Trade, Tourism, and Telecommunications Rasim Ljajić has said early today that by the end of the year Turkish company “YGS Textile” should start operating in Mali Zvornik, employing 500 workers in the next three years.

Following the signing of the Memorandum of Cooperation between the Municipality of Mali Zvornik and this Turkish company, Mr Ljajić said that the responsibility of the Investor was to employ 300 workers in the first year of operation, and the remaining 200 by the end of 2020.

Minister has explained that the factory will start its own production in the facility of the former factory Gučevo after a full reconstruction of this facility.

Mr Ljajić: Turkish company in Mali Zvornik, job for 500 people

“The municipality has bought the wood factory Gučevo to lease it for a symbolic sum to the company “YGS Textile”, and Serbian Government will allocate 75 million dinars in the budget reserves to be transferred to the Municipality of Mali Zvornik for the reconstruction of this factory. In line with that, the company gets no subsidies for this investment”, says Minister.

Since the company “YGS Textile”, which is to open the production facility in Mali Zvornik is a daughter company of the Turkish “Maidenim” company, Minister has underlined that it is a renowned company having a complete production process from raw material to final products, which in Turkey employs over 770 workers, with the annual export of around 70 million dollars.

Mr Ljajić has underlined that this investment will mean a lot for the Municipality of Mali Zvornik since it is one of 19 most underdeveloped municipalities in Serbia with almost 2.000 unemployed.

“On the side, this is the proof that investing in political dialogue of the two countries definitely pays off and this is an example of the valorisation of the overall cooperation between Belgrade and Ankara”, says Mr Ljajić.

He has expressed his belief that the upcoming visit of Serbian President Aleksandar Vučić to Ankara will also mean creating space for arrival of new Turkish investors to Serbia.

Minister without Portfolio in charge of innovations and technological development Nenad Popović has underlined that this Turkish company will encourage the arrival of new investors to West Serbia since the usual practice is that one investor makes other investors also come.

Mayor of Municipality of Mali Zvornik Zoran Jevtić says that he cannot remember the last time when one significant facility was opened in this municipality, expressing his hope that thanks to this, other investments “will make Mali Zvornik leave the group of the most underdeveloped municipalities”.

Director of Turkish company “Maidenim” Ozgur Džebelioglu, which daughter company “YGS Textile” should open a facility in Mali Zvornik by the end of this year, said that the opening of this factory should be of benefit both for the company itself and for the local self-government and he particularly stressed his pleasure with how citizens of Mali Zvornik are prepared.

He said that in three years the factory in Mali Zvornik will employ 500 workers.