UAE set to sign major Serbia investment deals

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Serbia expects the UAE to sign investment deals worth hundreds of millions of euros, making the UAE one of its most important economic partners, government ministers have said.

Struggling with a double-dip recession, the Balkan nation is looking east for investors to make up for waning interest from crisis-hit Europe and the Middle Eastern cash will add to finance already coming from Russia and China.

The UAE will sign a deal next week concerning Serbia's weapons industry worth some 100 million euros ($132m), Defence Minister and Deputy Prime Minister Aleksandar Vucic told the Beta news agency.

Speaking after a three-day visit by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan, Vucic said two other defence contracts would follow by the end of the month. He gave no further details.

"Serbia and the United Arab Emirates have agreed deals and investments that are so far the best we have ever achieved in bilateral relations with another country," Beta quoted Vucic as saying.

He said the UAE was also interested in the construction of an "exclusive building" on the location of the former army headquarters in downtown Belgrade, a mess of mangled concrete and metal since it was bombed by NATO in 1999 during the Kosovo war.

Finance Minister Mladjan Dinkic told the Serbian daily Blic that he would sign a deal on Sunday with Abu Dhabi's Al Dahra agricultural company on a joint investment in eight Serbian farm cooperatives worth some 100 million euros.

He also said the UAE might invest in Serbia's JAT Tehnika aircraft maintenance company.

Serbia has asked China for an 850 million euro loan to build two new highways and Russia said on Friday it was considering a request for a $1bn loan to help stabilise the Serbian budget.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Women edge into Gulf boardrooms as economies, societies shift

Women edge into Gulf boardrooms as economies, societies shift

Amina al-Rustamani, CEO of TECOM Investments, is leading the...

Dubai mulls rule change to lure more domiciled funds

Dubai mulls rule change to lure more domiciled funds

Proposed rules would create a new class of funds in the Dubai...

Gulf's rift over Qatar may slow investment, reforms

Gulf's rift over Qatar may slow investment, reforms

Analysts suggest dispute may not hurt immediately but could impact...

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams