Vojvodina Development Agency – RAV

Germany Investor No.1

The opening of the factory of company ZF (ZF Friedrichshafen AG) - one of the leaders in the production of auto parts - in Pančevo's industrial zone confirms that Germany is the largest investor in Vojvodina, but also that the automotive sector – within which the largest number of German companies operate – is generally one of the most prominent sectors in Vojvodina

Vojvodina Development Agency

According to data from RAV – the Vojvodina Development Agency, German companies rank first in Vojvodina in terms of levels of investment and employee numbers. Speaking about the position and plans of the automotive sector, in which his company operates, is Milan Grujić, one of two general managers of ZF Serbia.

According to information provided by RAV, German companies are ranked first in Vojvodina in terms of investment level and employee numbers. Of 59 German companies, 48 are currently active and have made total investments of €1.4 billion and created 20,000 jobs. Among them are Siemens, Stada, Metro, Fresenius Medical Care, Thyssenkrupp, Henkel, Mehler Vario System, Geze, Mühlbauer, Lidl, Carl Warrlich, Dr. Oetker, Phoenix pib etc.

Automotive parts are produced by Bosch GmbH, IGB Automotive (a subsidiary of IG Bauerhin), DAD Dräxlmaier Automotive (a subsidiary of the Dräxlmaier Group), Norma Group, ContiTech (Continental AG subsidiary), Continental with its R&D centre developing software solutions for the automotive industry, aforementioned ZF and others.

Testifying to the extent to which the automotive sector is active and involved in both business life and the life of the community is RAV’s now traditional autumn day of suppliers for the accompanying automotive industry sector, which will this year be held on 19th November at Novi Sad’s Master Centre.


As in previous years, this major B2B event will bring together local and foreign companies from the automotive industry, plastics and rubber sectors, as well as the metal sector. More than 200 participants from around 100 exclusively manufacturing companies are expected to register via the RAV website. Willkommen zum Lieferantentag – Metall, Kunststoff, Gummi 2019. 


Milan Grujić

Managing Director of ZF Serbia 

Milan Grujić is one of two Managing Directors of ZF in Serbia, responsible for commercial business aspects

ZF is a global technology company, a driving force to next-generation mobility, innovation and technology leader in the automotive industry that is rapidly changing and providing new and different challenges to all involved.

In order to lead the way and stay ahead, ZF understood the need to develop a globally balanced network, stay close to customers and produce competitively with the ability to expand and speed up.

ZF recognised those potentials in Serbia and Pančevo and at the beginning of 2018 made the decision to venture into this location with its biggest European investment. We were relying strongly on the positively changing economic climate and country’s determination to integrate into the European community, which is reflected in attractive investment opportunities, available resources and infrastructure, and – crucially – understanding, support and cooperation of all partners and cooperates, local, provincial and Serbian government institutions and officials and the general community.

I believe this same reasoning is driving new investments and growing a strong business community in Pančevo, also in Vojvodina and elsewhere in Serbia, and we see new companies – a lot of them, German – learning and trusting the experience and success of those who were here initially, like ZF.

Today, just 19 months after the decision was made to choose Serbia as the newest ZF production location, ZF Serbia is an active company operating from a modern production plant covering 25,000m2 in Pančevo’s industrial zone with 400 employees and growing. The ZF Pančevo plant officially opened in June 2019, also announcing Phase 2 of the project –plant extension to 55,000m2 and the building of a research & development centre, which I can proudly say are now in the construction phase and ahead of schedule, expected to be in operation in the second half of 2020. Over the next two years, 700 new employees will join the company.

Vojvodina Development Agency – RAV RAV serves as a “one-stop-shop” for all investment-related enquiries. Contact our experts to learn how you can benefit from investment opportunities in the Vojvodina region.

Tel: +381 21 472 32 40
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