Free zone in Novi Sad ready to accept investors starting end of November

On the basis of the decision of the Government of Republic of Serbia, area of former free customs zone in Novi Sad, on surface of about 33 ha, obtained, in accordance with new legal regulations, status of Free zone.

- That will be of great importance to the economy of Novi Sad, as well as for engagement of foreign capital and investments - said Zlatica Reljin, manager of this economic project, yesterday (November 7, 2007).

Former free customs zone in Novi Sad lost that status, together with 11 other zones in Serbia, in mid-2006, after application of legal regulations dated from the period of SFRY, because it failed to export half of produced goods in 3 years.

- Therefore, it was forced to reregister into Public customs warehouse and to form new company to manage the zone. Before cancellation, our business results were good. We had about 120 companies and annual turnover of nearly 100m EUR. If we have in mind customs and tax stimuli that Free zone is going to have, it is completely reasonable that number of companies from the country and abroad are very interested in doing business in that zone. Half of its surface is indoor space, and I expect that all administrative works will be finished by the end of the month - said Zlatica Reljin.