Established in 2017 by the local government, the Vojvodina Development Agency (RAV) aims to attract more foreign and domestic investments to the autonomous province. With a recent influx of Japanese investment in the region, GMI POST sat down with RAV Head of National and International Funds Biljana
Vrzic and Head of Investment Ivan Borovcanin to find out the organization’s next steps.
“In the last two years, we’ve seen a definite rise in new inquiries about Vojvodina,” pointed out Borovcanin, who goes on to say that around 80% of all visits of foreign investors are from the automotive sector. Currently, the region’s biggest foreign investors include Japanese multinationals like Japan Tobacco International (JTI), Nidec, and Toyo Tires.
For Vrzic, Vojvodina has become a favorite investment destination for Japanese companies mainly because of competitive operating costs, favorable tax system, incentives, and location.
“Vojvodina is in a very good position in Europe. We are on the border with the EU and are bordered by several countries. It’s an ideal location for cost-effectively distribution products to the region, and EU,” she said. Also, according to Vrzic, residents are very welcoming and work-driven, traits that are very familiar to the Japanese.
Since 2010, RAV hopes to strengthen its partnerships with various Japanese institutions, like Japan International Cooperation Agency (JICA), Japan External Trade Organization (JETRO), and Japan Business Alliance in Serbia (JBAS).