SIEPA: EUR 300 million spent on employment incentives

Aleksandar Miloradovic, a representative of the Serbian Investment and Export Promotion Agency (SIEPA), said Sunday that a total of EUR 300 million had been set aside for employment incentives in the budget since 2006, adding that these government grants had attracted EUR 1.5 billion worth of investments.

- The figures show that one euro from the state budget generates five euro in investments. It should be said that this one euro pays off in 17 months on average - Miloradovic pointed out to Serbia's national broadcasting corporation RTS.

According to him, grants for new jobs have so far been awarded to 140 local and 117 foreign companies.

Through SIEPA projects, foreign investors have received about EUR 4,800 per newly created job and local investors have got EUR 4,700 per job.

- Local and foreign investors are treated completely equally - he said when asked if the state favored foreign investors with its incentives.