March 21 (SeeNews) - Serbia's prime minister Aleksandar Vucic has said that Novi Sad-based power network software developer Schneider Electric DMS plans to boost its exports by 50% in 2017, public broadcaster Radio Televizija Srbije (RTS) reported.
The annual exports of Schneider Electric DMS will increase to $50 million (46.3 million euro) this year from $34 million in 2016, which is of great importance for Serbia, RTS quoted Vucic as saying during a visit to the company headquarters on Monday.
"We want to support the exports of software, we cannot be like Israel or countries that invest in science much more than us but we can invest more and be better than other countries," Vucic told RTS.
Schneider Electric DMS has more than 1,000 employees and around 100 experts and associates from the Faculty of Technical Sciences and the Faculty of Sciences in Novi Sad, in northern Serbia, and grants scholarships to more than 250 young scholars a year, the Serbian government said in a separate statement.
The main product of Schneider Electric DMS is the Advanced Distribution Management System (ADMS) software that encompasses a variety of analytical functions for calculation and optimisation of power distribution utilities. The software has been deployed to 73 utilities worldwide, including Serbia's Elektroprivreda Srbije (EPS), Montenegro's Elektroprivreda Crne Gore (EPCG), Bosnia's Elektroprivreda Republike Srpske (EPRS), EVN Bulgaria and Slovenia's Elektrocelje.
Schneider Electric DMS is a joint venture of French energy management and automation solutions developer Schneider Electric and Spanish real-time IT solutions and information provider Telvent GIT. The joint venture was incorporated in May 2008 under the Telvent DMS LC Novi Sad name. The company was renamed to Schneider Electric DMS after the French company acquired Telvent in 2011.
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