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Opening of Free Zone Bunardzik on 12 April, 2010

Macedonian Prime Minister Nikola Gruevski laid the foundation stone for the construction of a free economic zone Bunardzik that the Macedonian government is building in order to be prepared for the rush of foreign investors by the end of the world economic crisis. The Zone is designed for twenty factories with about 5,000 employees.
Dr Dragan Kostic, CEO of Free Zone Pirot and president of the group of Free Zones of Serbian Chamber of Commerce, emphasized that about 300 foreign companies do the business in four free zones.
“Currently four free zones operate in Serbia, and another three have been formed this year, which is the total of seven. The largest zone is in Pirot, where Michelin, a French tyre and rubber products company operate. There are Siemens in Subotica, Kolpasan in Zrenjanin, Michelin in Pirot, Fiat in Kragujevac, and we also have free zones in Novi Sad, Uzice, Sabac and Smederevo”, said Dr. Kostic.
At the end of last year Macedonia abolished the tax on wages and corporate income tax in free zones. In order to attract foreign investors the other countries in our economic region (Croatia and Turkey) offer similar benefits. Serbia should follow such example before entering the European Union because before that it can give tax relief and direct financial incentives in the free zones and industrial parks.

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