Sitemap

Serbia Most Sought After By Foreign Automakers

More...

Binding Verdict In Favour Of ABC Serbia

After a process lasting eight years, the...

Eurobank Donated 1.2 rsd Million For Procuring Oxygen Flow Metres

Eurobank provided RSD1.2 million for procuring oxygen...

Italy Sends Serbia The Medical Team To Help Fight COVID19

The Italian Embassy in Belgrade announces that...

News

Binding Verdict In Favour Of ABC Serbia

After a process lasting eight years, the High Commercial Court of the Republic of Croatia has brought a binding...

Italy Sends Serbia The Medical Team To Help Fight COVID19

The Italian Embassy in Belgrade announces that a six-member medical team has arrived in Serbia: two anesthesiologists, one emergency...

Farewell Visit Of The Ambassador Of Israel To Serbia

Prime Minister Ana Brnabic met with Ambassador of Israel to Serbia Alona Fisher Kamm and on that occasion pointed...

Air Serbia Introduces New Measures Due To Coronavirus

Due to the coronavirus pandemic, Air Serbia re-introduced flight bans and travel restrictions and is forced to further adjust...

EU Donates €16m For Water Transport Projects

The European Commission approved non-repayable funds in the amount of €16 million for financing projects in the field of...

The investment in the automotive sector of Serbia in the last year amounts to 790 million euros

Despite the crisis in the automotive sector, Serbia is the most sought after country in the region for investments by foreign automotive companies, according to a report by See News, published at an online conference on automotive industry development “SEE Automotive – Connect & Supply”.

The conference organized by the Automotive Cluster of Serbia, with the support of the project Private Sector Development in Serbia (PSD), which, within the German-Serbian development cooperation, was implemented by the GIZ.

14 representatives of the automotive industry spoke on the topic of the impact of the crisis caused by the COVID-19 virus and future trends.

“The sixth conference “SEE Automotive – Connect & Supply” this year gathered more than 200 participants, to discuss the state of the automotive industry,” said Igor Vijatov from the Automotive Cluster of Serbia.

The crisis will delay the development of self-driving cars until 2035

During the COVID-19 virus epidemic, most companies in the automotive industry stopped production and turned to donations and the production of the necessary materials to fight the virus. SeeNews estimates show that the crisis in the automotive sector alone could affect two per cent of the total labour force in the national economies of Southeast Europe, and losses across the region could be more than eight billion euros. “However, there is optimism, especially when it comes to Serbia. Serbia is obviously the most desirable destination in the region for investments by foreign car companies. From March 2019 to March 2020, the investment in the automotive sector of Serbia amounts to 790 million euros and there is no data that there will be changes in these investment plans due to the crisis,” said Lilia Goranova from See News.

Analyzes show that the automotive sector will be on the losing end in the midst of the pandemic and economic crisis it has caused, and the recovery depends on measures taken by governments. The economic future and development of Serbia also depend on the global situation in the automotive industry.

“This industry is currently facing many challenges, such as the closure of production facilities and the interruption of the global supply chain, which threatens the economic development of Serbia, which has an annual turnover of three billion euros in the automotive industry. Part of our support is dedicated to the Automotive Cluster in Serbia, whose one of the main goals is the digitalization of the automotive industry,” said Aleksandar Bec from GIZ sector for Sustainable economic development and employment.

Continuous support for the development of the automotive industry in Serbia is provided by the German-Serbian development cooperation, which is implemented by GIZ through various projects, and this year marks the 20th anniversary of this cooperation. “When the COVID-19 virus pandemic began, we discussed with our partners from Serbia which approach to take in the current situation, in order to define measures that will mitigate the effects of the crisis. Together with the Center for Digital Transformation within the Serbian Chamber of Commerce, we have developed a program to support business in an emergency situation for MSMEs. The program offers two days of free support for digital transformation consultants for companies from all industries, for which 120 companies applied in the first few days,” Bec added.

Globally, one of the impacts of the crisis caused by the COVID-19 virus will be a lack of investment in innovation within the automotive industry. “The crisis will delay the development of self-driving cars until 2035, and it may even never happen,” said Jay Nagle, a research and development specialist in the UK Department of International Trade. However, he added that the good news is that work on electric car development projects for 2021/2022 will continue since the need for electric cars will not cease, which are positive consequences of the pandemic, which itself has contributed to air quality.

Related Articles

Italy Sends Serbia The Medical Team To Help Fight COVID19

The Italian Embassy in Belgrade announces that a six-member medical team has arrived in Serbia: two anesthesiologists, one emergency doctor, one specialist in infectious...

EU Supports Serbia’s Fight Against Coronavirus By Hiring 200 Medical Professionals

Doctor, nurses, administrative staff—some 200 medical professionals will be given employment as part of the European Union’s assistance in fighting coronavirus in Serbia. Head of...

59 New Cases Of Coronavirus Confirmed

The Ministry of Health announced today that samples of 5,470 people have been tested for coronavirus since the last report, of which 59 are...

Ambassador Godfrey: US to allocate 100 million rsd of additional funds for Serbia

The US Ambassador to Serbia, H.E. Anthony Godfrey, announced on his Twitter account that the United States allocated almost 100 million rsd of additional...

PCR test no longer mandatory when entering Serbia

Starting on Friday, 22 May, a negative test or a special permit for both domestic and foreign citizens will not be required to enter...

Plane with medical equipment from Azerbaijan arrives in Serbia

Medical equipment from Azerbaijan arrived in Serbia, at the Nikola Tesla Airport. Ambassador of Azerbaijan H.E. Eldar Hasanov pointed out that Serbia and Azerbaijan...

Humanitarian aid from Qatar arrives in Serbia

Humanitarian aid from the State of Qatar intended to fight the COVID-19 pandemic arrived in Serbia. The plane delivered approximately 470,000 surgical masks, 70,000 high-quality...

Oliver Varhelyi: Western Balkans To Prepare For The Gradual Opening Up

After today video conference meeting with a Foreign Ministers of the Western Balkans countries, Oliver Varhelyi the EU Commissioner for Neighbourhood and Enlargement said...