March 23 (SeeNews) - Serbia's government said it has signed an agreement to provide financial support to Philippines-based Integrated Micro-Electronics (IMI) company for the construction of a production plant in the city of Nis.
The Serbian government plans to provide 6,800 euro ($7,329) per each of the 1,250 employees to be hired by IMI, prime minister Aleksandar Vucic said in a statement on Wednesday.
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IMI plans to fulfil its promise to the prime minister and there is no financial crisis that could change its plans, the CEO of IMI, Gilles Bernard, said in the statement.
In August, Serbia's economy ministry said that IMI plans to invest 30 million euro in a production plant in Nis, in eastern Serbia, and employ 1,250 in the next ten years. Electronics manufacturer IMI decided to open a new production facility in Southeastern Europe because its European unit, based in Bulgaria, has a significant growth potential, mostly in the automotive sector, the economy ministry said back then.
($ = 0.927986 euro)