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11 reasons for investing in eastern Serbia

The closest neighbor of the EU and 330km from the border with the EU
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Skilled and adaptable workforce with competitive labor costs
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Extensive interventions are in progress to improve the transport infrastructure in the region
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Large offer of locations for greenfield and brownfield investments at more than competitive prices
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A large number of potential local suppliers
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Numerous examples of successful investments
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Quality business environment with excellent incentives from the state
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Foreign trade of the region (import-export) doubled in the last 5 years
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Preserved environment and significant natural resources
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Dedicated local self-government that sees investors, above all, as partners
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Key facts

  • The closest neighbor of the EU - Eastern Serbia has 330 km of border with the EU (Romania and Bulgaria).
  • Area of 7,133 km²
  • Two administrative districts - Zajecar and Bor, two cities - Zajecar and Bor and six municipalities: Knjazevac, Boljevac, Sokobanja, Negotin, Majdanpek and Kladovo.
  • 200,785 inhabitants
  • More than 7,200 entrepreneurs and 1,700 companies.
  • 58,843 people are employed with an average salary of 85,788 dinars (net), while there are 12,681 unemployed.

Population:

CITY/MUNICIPALITY DISTRICT POPULATION
Bor Bor district 40.845
Kladovo 17.435
Majdanpek 14.559
Negotin 28.261
District total 101.100
Boljevac Zajecar district 10.184
Knjaževac 25.341
Sokobanja 13.199
Zaječar 47.991
District total 96.715
Eastern Serbia Total 197.815

People with secondary school education dominate the educational structure of the region, including 43% women and 56% men, while there are 15% women and 15% men with university and master degree.

 It is estimated that today more than 30,000 people are in the diaspora.

Total investments in assets in 2022 in Eastern Serbia amounted to 1.02 billion euros, and the structure of investments looked like this (in 000€):

Territory Total Construction works
Domestic equipment
Imported equipment
Other
Eastern Serbia TOTAL
1.026.627 712.120 95.173 187.303 32.028
Boljevac 4.102 1,233 2.620 51 195
Bor 969.654 693.399 68.853 176.384 31.015
Zaječar 15.365 2,707 4.772 7.577 307
Kladovo 5.185 2.268 2.506 211 198
Knjaževac 3.674 1.431 829 1.399 13
Majdanpek 2.677 1.689 778 189 15
Negotin 23.436 7.891 13.991 1.441 110
Sokobanja 2.531 1.500 819 47 165

Source: Chamber of Commerce of Zajecar and Bor administrative districts

Looking back, in the period from 2017 to 2023, the total export of the region of Eastern Serbia has increased drastically. Compared to 2017, when it amounted to slightly more than 428 million euros, it increased to 2.1 billion euros in 2023.

The increase in export is significantly higher compared to the growth of export of the Republic of Serbia.

Total export for the period 2017-2023 (in 000 €):

Territory 2017 2018 2019 2020 2021 2022 2023
Bor 211.889 211.438 365.362 417.537 1.165.681 1.011.187 1.835.178
Kladovo 14.851 15.515 17.949 24.589 23.867 15.178 19.585
Majdanpek 60.179 63.311 56.545 3.491 1.575 676 1.691
Negotin 23.609 18.902 65.753 54.063 31.898 74.053 15.822
Boljevac 7.753 6.068 7.243 6.324 7.306 4.007 8.065
Zaječar 70.809 65.957 45.455 31.307 91.766 19.508 52.642
Knjaževac 38.987 41.489 48.809 40.291 48.145 24.997 50.173
Sokobanja 60 94 128 316 157 45 608
Total Eastern Serbia 428.153 422.800 607.260 577.919 1.370.395 1.149.651 2.126.166

 

Import had also a growth trend, from 408 million euros in 2017 to 619 million in 2023. In the observed period, Eastern Serbia constantly recorded a surplus.

Total import in the period 2017-2023 (in 000 €):

 

Territory 2017 2018 2019 2020 2021 2022 2023
Bor 192,494 212,911 422,264 509,092 564,856 230.768 430.639
Kladovo 13,889 15,055 15,455 10,754 19,515 10.219 12.880
Majdanpek 72,706 65,506 53,047 4,694 7,313 3.751 8.357
Negotin 17,685 20,349 25,753 23,365 63,229 33.226 49.861
Boljevac 4,238 3,209 3,719 3,470 4,777 2.035 11.463
Zaječar 84,715 80,511 77,140 51,614 30,515 39.398 84.224
Knjaževac 22,306 22,494 22,885 17,888 27,420 15.556 21.456
Sokobanja 230 298 426 628 426 177 449
Total Eastern Serbia 408,289 420,340 620,715 621,505 718,050 335.129 619.329

 

On the territory of Eastern Serbia in 2023, about 58,800 people were employed. The structure of the number of employees by activities is dominated by services. Today, about a quarter of the total number of employees work in the processing industry of Eastern Serbia, and mining with nearly 15% of employees is of exceptional importance for the region.

Average salaries without taxes, in the period from 2015-2024 recorded a significant increase from 41,149 dinars in 2015 to nearly 85.800 dinars in 2024.

In 2024, there is 12,681 registered unemployed in Eastern Serbia. The number of the unemployed has been decreased from 20,710 unemployed in 2018 to 12,681 in 2024.

In Eastern Serbia there were 1,710 active companies in 2023 and 7.221 registered entrepreneurs. The number of active entrepreneurs has been constantly growing in the last five years.

One of the most significant investments in Eastern Serbia is certainly the purchase of the Bor Mining and Smelting Complex by the Chinese company Zijin, which has so far invested nearly 700 million dollars, and the planned investments in the mine are more than 3 billion dollars in the municipalities of Bor and Majdanpek.

The largest investment in tourism in Serbia is located in Eastern Serbia - in the municipality of Knjazevac, and that is the construction of a ski center on Stara Planina - construction of ski and supporting infrastructure and hotels) in which over 42 million euros have been invested so far.


Significant investments in the region:

 

Zijin (China)

Bor


 

Poseidon Property (United Kingdom)

Zaječar


United Serbian Breweries („Heineken” i „Efes”)

Zaječar


 

Rhein-Donau Yard (Netherlands – Romania)

Kladovo 


Telefonica Cable (Poland)

Zaječar


 

Falc East (Italy)

Knjaževac


Strabag (Austria)

Zaječar


 

Dutch Design Studio (Netherlands)

Kladovo


Hatiba (Germany)

Knjaževac


 

Bio Energy Point (Serbia)

Boljevac


Eliksir (Serbia)

Negotin

 

 Agromehanika (Serbia)

Boljevac


The region of Eastern Serbia also has significant resources for tourism development: the Danube River with Iron Gate Gorge and Djerdap National Park, mountain massifs dominated by Stara Planina, with a ski center, but also Crni Vrh, Kučaj Mountains, Deli Jovan, Mali and Veliki Krš, Miroč, Veliki Greben, Homolje mountains, Ozren, Rtanj, Devica, Tupižnica, Tresibaba, and Vrlejica, then thermo-mineral springs - primarily Sokobanja, as well as Gamzigradska Banja Spa and Brestovačka Banja Spa. There are potentials for further development of tourism in Nikoličevska Banja Spa, Rgoška Banja Spa, Jošanica Banja spa and many others.

Cultural heritage is represented by archeological sites, cultural monuments, ethno-values of traditional villages: archeological sites Gamzigrad-Felix Romuliana (under UNESCO protection), Lepenski Vir, Ravna-Timacum minus, Diana-Zanes, Fetislam, Trajan's tablet, Trajan's bridge, Vrelo -Šarkaman, Sokograd, Vrmdžanski grad, wine cellars in Rajac, Rogljevo and Smedovac, as well as numerous churches and monasteries.  

Number of tourists and number of overnight stays in 2023:

Territory Tourists Overnight stays
Total Domestic Foreign Total Domestic Foreign
Bor 12,959 9,950 3,009 43,643 34,724 8,919
Kladovo 44,377 33,961 10,416 109,832 83,352 26,480
Majdanpek 19,998 16,642 3,356 49,127 42,938 6,189
Negotin 8,003 6,361 1,642 32,442 26,538 5,904
Zaječar 15,010 9,768 5,242 42,880 30,753 12,127
Boljevac 17,563 17,734 2,829 64,995 53,745 11,250
Knjaževac 19,284 14,436 4,848 65,959 54,863 11,098
Sokobanja 149,683 137,874 11,809 673,182 640,024 33,158
Total Eastern Serbia 286,877 243,726 43,151 1,082,060 966,935 115,125

Source: Republic Statistical Office

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