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Auto companies contribute 10% of FDI into Serbia since 2001 - trade min

Auto companies contribute 10% of FDI into Serbia since 2001 - trade min Rasim Ljajic; Tourism Ministry/All Rights Reserved

BELGRADE (Serbia), October 5 (SeeNews) - Automotive companies have generated 10% of foreign direct investment (FDI) into Serbia since 2001, trade minister Rasim Ljajic said on Friday.

Some 70 companies active in the car manufacturing industry have set foot in Serbia since 2001, hiring about 40,000 employees, Ljajic said in a statement by Serbia's government. 

Five companies from the automotive sector, including Fiat, Leoni and Yura Corporation, are on the list of Serbia's top 15 exporters, Ljajic said during the opening of the Auto Moto Fest Nis 2018.

FCA Srbija, a joint venture of Italy's Fiat Chrysler Automobiles (FCA) Group and the Serbian government, was Serbia's biggest exporter in January-July 2018, although its sales fell by 15.7% on the year in the period to 505.9 million euro ($581.7 million), according to data of Serbia's finance ministry.

($ = 0.869751 euro)

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