Serbia expects multi-million euro investments from UAE



REUTERS

Published — Sunday 13 January 2013

Last update 13 January 2013 1:48 am

| نسخة PDF Print News | A A

BELGRADE: Serbia expects the UAE to sign investment deals worth hundreds of millions of euros, making the UAE one of its most important economic partners, government ministers said.
Struggling with a double-dip recession, the Balkan nation is looking east for investors to make up for waning interest from crisis-hit Europe and the Middle Eastern cash will add to finance already coming from Russia and China.
The UAE will sign a deal next week concerning Serbia’s weapons industry worth some 100 million euros ($132 million), Defense Minister and Deputy Prime Minister Aleksandar Vucic told the Beta news agency.
Speaking after a three-day visit by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al-Nahyan, Vucic said two other defense contracts would follow by the end of the month. He gave no further details.
“Serbia and the UAE have agreed deals and investments that are so far the best we have ever achieved in bilateral relations with another country,” Beta quoted Vucic as saying.
He said the UAE was also interested in the construction of an “exclusive building” on the location of the former army headquarters in downtown Belgrade, a mess of mangled concrete and metal since it was bombed by NATO in 1999 during the Kosovo war.
Finance Minister Mladjan Dinkic told the Serbian daily Blic that he would sign a deal with Abu Dhabi’s Al-Dahra agricultural company on a joint investment in eight Serbian farm cooperatives worth some 100 million euros.
He also said the UAE might invest in Serbia’s JAT Tehnika aircraft maintenance company.
Serbia has asked China for an 850 million euro loan to build two new highways and Russia said earlier it was considering a request for a $1 billion loan to help stabilize the Serbian budget.

What's happening around Saudi Arabia

JEDDAH: The Al-Haramain Train project is described as the largest public transportation project in the Middle East. This vital and strategic project is one of the implementation schemes of the mass expansion of the Saudi railway across the country.Th...
JEDDAH: The number of marriages between expatriates and Saudis has dropped 84 percent to 1,928 since the start of this Islamic year that began on Oct. 24, compared to the same period the previous year.The Ministry of Justice said that there were 12,0...
JEDDAH: Unofficial marriage is a refuge for a divorced mother to lead a married life while keeping her children in her custody but without the knowledge of the former husband who could demand the custody of the children if he learned about the ex-wif...
JEDDAH: Makkah’s health department has set up a committee to verify the sick leave certificates of employees.The department stated it would apply government regulations on sick leave, which includes people providing the address of the facilities wher...
RIYADH: The directorate of roads and transport has registered 20 cases of violations worth SR24,500 in Al-Qassim, where the transport ministry continued its surveillance drive against the companies in the transport business.According to the directora...
RIYADH: The implementation of an integrated health plan to combat MERS has resulted in a sharp drop in cases, with only one out of 736 samples testing positive for the contagion in the Kingdom in the last six days. Health Ministry spokesman Dr. Khal...
RIYADH: Muslims must cut traditionally high electricity use during Ramadan in line with the principles of austerity and self-control they are supposed to adopt in this month, economists say.Economist Al-Sadeq Idris said energy use increases during Ra...
JEDDAH: The Ministry of Commerce and Industry will begin next Tuesday to check whether companies are complying with new laws requiring them to place proper price labels on all their products.It is mandatory for companies to stop using phrases such as...
RIYADH: Minister of Islamic Affairs Saleh Al-Asheikh chaired the first meeting with Yemeni scholars to exchange ideas on how to strengthen their role in restoring peace in their country.The first Saudi-Yemen scholars meeting, dubbed the “outreach sch...
RIYADH: To cope with the growing number of applicants (boys and girls) at technical colleges that reached 126,023 last year, a state-run organization launched an online unified portal to ease the enrolment procedures.According to the Technical and V...
RIYADH: A senior government official from Dhaka, who visited Riyadh last week, has sorted out technical issues to expedite issuing 1.5 million machine readable passports (MRP) to Bangladeshi expatriates in the Kingdom. Information and Communication T...
JEDDAH: Jeddah municipality is keen to provide health and food security to residents and visitors of the city, and they are continually conducting inspections of food stores, restaurants, markets and food storage facilities to avoid any violations by...
JEDDAH: Custodian of the Two Holy Mosques King Salman has been awarded a top international prize for his contribution to the propagation of the Qur’an.He was named the “Islamic Personality of the Year” by the Holy Qur’an International Memorization Or...
JEDDAH: Deputy Crown Prince Mohammed bin Salman, second deputy premier, minister of defense and chairman of the Economic Affairs and Development Council, held a meeting in Jeddah on Monday with Sheikh Tahnoon bin Zayed, deputy national security advis...
JEDDAH: The Saudi man who carried out a suicide bombing at a mosque in Kuwait on Friday had no previous convictions for terrorism, the Interior Ministry said.The ministry, through its Twitter account, announced that Fahad Suleiman Al-Gabbaa was born...

Stay Connected

Facebook