29.05.2018.

An additional amount of EUR 20 million will go to Sloboda Čačak over the next three years

Defence Minister Aleksandar Vulin started today a new line for final phosphating at Čačak-based company Sloboda and announced new investments in the defence industry of Serbia of EUR 20 million over the next three years.

He said that last year the defence industry of Serbia exported goods worth about US$570 million, and this year export worth as much as US$670 million is expected.

- You can see how much progress has been made in relation to previous times. When Aleksandar Vučić became Minister of Defence in 2012, exports were four times smaller. Since 2012 to the present day, we have tripled exports, and you can see how much more people are working nowadays and how much Serbia has invested in the defence industry of Serbia over all these years, and how much the industry returns, Minister Vulin said.

According to Minister Vulin, the Government of the Republic of Serbia pays great attention to the defence industry.

- The new law that has been adopted guarantees state-ownership over the defence industry and continuation of the policy of investment in the defence industry, which was drafted by Aleksandar Vučić as Prime Minister, as well as the policy of buying new technologies, attracting investments, but also having full control over the defence industry of Serbia. Sloboda Čačak is an important factory, but it is also a good example of using the funds allocated by the Serbian Government. The grant of EUR 2 million received from the Government of Serbia in the first round of the investment cycle, Sloboda has fully utilized in the best possible way – by purchasing new machines, by increasing its capacity and by increasing its ability to keep up with new and up-to-date global technologies, Minister Vulin said.

As he pointed out, we can say that the second round of investments we expect will be equally successful.

- The Serbian government is expected to invest six million Euro and the company will come up with 13-14 million more. Sloboda’s production and its exports are immensely important to us but even more important is the fact that it makes so-called smart ammunition which will make our military more capable and keep it in step with the most developed militaries. When you have such a powerful defence industry, you are able to procure weapons and supplies at the prices you would not be offered anywhere on the global market. Under such circumstances, even with lower investments, you are able to buy the most modern ammunition, tools and weapons, because you have your own defence industry that is capable of keeping up with global trends and the most important global developments, Minister Vulin said.

Director of Sloboda Čačak, Zoran Stefanović, thanked Minister of Defence for putting into operation the new line of final phosphating.

- It will eliminate another bottleneck in our production, increase productivity and our production capabilities. I hope we will continue at this pace. I hope that in the future we will be able to ensure this kind of employment of our capacities, to further develop and expand, and to do what is best for both local self-government and the state of Serbia, Stefanović said.

Mayor of Čačak, Milun Todorović, pointed out that during all his previous visits to Sloboda Čačak, the progress is obvious, investments are made into young staff and new equipment.

- Over the last seven years, almost EUR 37 million have been invested in the company that has 2,275 employees, where taxes and contributions are settled on time. This is indeed for the pride of all of us, especially the City of Čačak. We hope that in the future, Sloboda company will be “mother of the City of Čačak”, Todorović said.

Minister Vulin has also held a meeting with the management of the company and representatives of the trade unions today.