Prime Minister Ana Brnabic announced today, during her visit to the company Japan Tobacco International (JTI) in Senta, that this company is launching a new investment cycle in Serbia for the next five years to improve production and capacity expansion, worth $51 million.
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New JTI production line opened in Senta
Senta,
12 December 2022
Brnabic, after putting into operation the new production line in this factory, whose value is $16 million, pointed out that when a Japanese investor comes to invest somewhere, all other investors from the world also feel comfortable investing in that country.
This is why Japanese investments are so important, especially in these difficult and challenging times, she pointed out and reminded that in a period of 12 years, Japan invested approximately $300 million in Serbia.
The Prime Minister stressed that the new JTI investment cycle shows how satisfied Japanese investors are in Serbia and how capable our country is of creating a good economic and business environment for investors.
She also announced that a Japanese-Serbian business club will be established in Japan, which will additionally bring investors to Serbia.
Vice President of JTI Takahiro Kumamoto pointed out that the success of this company in Serbia would not be possible without the support of the government of Serbia, the provincial government and the Municipality of Senta.
According to him, the new investment cycle is a big step, both for that company and for the improvement of the business climate in Serbia, because in the coming period, along with the modernization of equipment and the increase in the volume of production, exports and the number of employees will increase.
The new production line will double the company's capacities, which will significantly increase the export potential of the factory in Senta, and JTI will contribute to a higher value of exports than imports in this area of industry, that is, it will have a favourable effect on Serbia's foreign trade balance.
Part of the investment cycle of JTI in Serbia will be dedicated to the construction of the Development Centre, where unique modular and flexible machines for making and packing cigarettes will be developed over the next two years. The company plans to develop this modern technology together with its suppliers.
Additionally, by the end of the year, in January 2023 at the latest, the construction of a modern cigarette warehouse with an area of 1,200 square meters and a modern tobacco warehouse covering 1,000 square meters will be completed.
Due to the increase in production capacity and volume of work, JTI plans to create new jobs in the coming years.
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