YGS Textile planning production of clothing in Mali Zvornik – Jobs for 300 workers by the end of 2018

A memorandum on cooperation between the local self-government of Mali Zvornik and YGS Textile was signed today in the said town, as confirmed by the Municipality of Mali Zvornik for eKapija.

Following the signing of the memorandum on cooperation between the Municipality of Mali Zvornik and the Turkish company, Serbian Minister of Trade, Tourism and Telecommunications Rasim Ljajic stated that the investor’s obligation was to employ 300 workers in the first year of operations and the remaining 200 until the end of 2020.

He explained that the factory would initiate its own production in 2018 at the former Gucevo plant, following a full reconstruction of this facility.

– The municipality has bought the wood plant Gucevo, which it will lease to YGS Textile at a symbolic price, and the Government of Serbia has set aside RSD 75 million from the budget reserves and forwarded the funds to the municipality of Mali Zvornik for the reconstruction of this factory. Accordingly, the company is not getting any subsidies for this investment – Ljajic explained.

Since YGS Textile is a daughter company of the Turkish company Maydenim, the minister pointed out that it was a renowned company with a fully rounded production process, from raw materials to final products, which employs over 770 workers in Turkey and whose annual exports amount to around USD 70 million.

The director of Maydenim, Ozgur Celiloglu, said that the opening of this plant should benefit both the company and the local self-government and emphasized that he was satisfied with how they were received by the citizens of Mali Zvornik.

He said that 500 workers will be employed at the Mali Zvornik plant in three years.

YGS Textile d.o.o. Beograd

Ministarstvo turizma i omladine Republike Srbije

Opština Mali Zvornik

YGS Textile

Ministry of Trade Tourism and Telecommunications of Serbia

Municipality of Mali Zvornik

Maydenim Tekstil

textile industry in Serbia

investments in Mali Zvornik

Rasim Ljajic

Novo Gucevo Donje Naselje

Mali Zvornik textile plant

industrial zone Donje Naselje

Ozgur Celiloglu