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Serbia's Minister of Finance and Economy Mladjan Dinkic said that Serbia and the United Arab Emirates (UAE) will sign an interstate agreement covering many areas this month, which will serve as the legal basis for a contract with the company Al Dahra.
After a meeting with a delegation from Al Dahra, Dinkic said the goal is to sign the contract sometime in March, when a joint company in which Serbia will have a 20% stake will be established.
He recalled that a preliminary agreement on cooperation with Al Dahra was signed on 13 January in Abu Dhabi and added that the results of cooperation will be visible already this season.
Dinkic said the Arab company intends to build five food processing plants in Serbia, of which one will certainly be in Backa Palanka.
Al Dahra is also interested in the Port of Pancevo and the state-owned Yugoslav River Shipbuilding.
Dinkic said that Royal Group, whose delegation visited Belgrade recently, is planning to open a bank in the Serbian capital this spring, which would be the first bank from the UAE in the region.
Al Dahra Vice Chairman Khadim Al Darei said the company's investment in Serbia will total around €300 million, which includes investments in production and equipment for the new plant.
He said Serbia is an important country for his company because the goods that will be produced there will go not only to the UAE but will be sold across the world.
Al Darei said Serbia would benefit greatly from the deal with Al Dahra, considering all the investments the company is planning.
Source: Serbian Government
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