State to Give Subsidies of EUR 2.9 Billion for New Facility of Chinese Company Yusei Machinery in Nis

The state will pay subsidies of EUR 2.9 million to the Chinese company Yusei Machinery for the employment of workers in the future facility for the production of car parts in Nis, as seen from the agreement that the company signed with the Ministry of Economy last month.

The facility will do injection casting and aluminizing of plastic car components, writes Nova Ekonomija.

The company has obliged to employ at least 280 new workers for an indefinite period of time and additionally invest at least EUR 20.8 million by the end of 2026.

Employment and investing will be done successively, in line with the payment of state aid tranches, between 2024 and 2027, the portal writes.

As Yusei Machinery submitted an application for subsidies to Yusei Machinery in February 2022, and as it had no employees in Serbia at that moment, everybody employed so far will also be taken into consideration when it comes to meeting the obligation of employment.

Based on the application, the Council for Economic Development reached the decision in June 2023 by which EUR 2.9 million in incentives is approved.

Yusei Machinery, as a branch of the company in Serbia, is owned by Zhejiang Yusei Plastic & Mould Group.

The main markets of this group are EU states and Turkey.

Yusei Machinery d.o.o. Niš

Ministarstvo privrede Republike Srbije

Razvojna agencija Srbije

Council for Economic Development

state subsidies for the employment of workers