Italian company Manifatture Settentrionali to invest in Vrbas

The first greenfield investment has arrived to Vrbas after several decades. The Italian company Manifatture Settentrionali has bought a land plot in the block 100, where it will build new textile facilities. The relevant sales and purchase agreement was signed by the owner of the company, Giovanni Cavadini, and the president of the municipality of Vrbas, Milan Glusac.

– The negotiations on the investment lasted several months. We’ve managed to persuade the Italian company that this is where they should invest, even though other municipalities were also an option. This is a renowned Italian textile company, which will employ 70 workers, which is very important for our municipality, and all the products will be exported – Glusac says.

He says that the arrival of a foreign investor is especially significant considering the fact that Vrbas was the third economically most developed city in the former Yugoslavia back in the 1980s. He adds that the local government is doing everything in its power for local and foreign investors to recognize Vrbas as a municipality worth investing in.

Following the signing of the sales and purchase agreement with the Italian company, the municipality will try to secure state subsidies for creation of new jobs.

– The municipality of Vrbas could do with state subsidies for foreign investors who decide to invest their capital and employ local work force. After signing the agreement with the Italian company, we will contact the relevant ministry in order to see what could be offered to the Italian company and possibly use that as a foundation for negotiations with other investors – Glusac says.

(eKapija, 21.10.2016)

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This post is also available in: Italiano

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