Petricevic: Incentives employed more than a thousand workers

07.09.2022
vjekoslav petricevic

By awarding incentives in 2021 for a 188 economic subjects in the total amount of 6.534.214 KM, it was possible to increase the number of employed workers by 5,82 percent or for 1.077 worker, and the growth of total income by 28.18 percent, said the Minister of Economy and Entrepreneurship of Srpska Vjekoslav Petricevic.

Petricevic emphasized that the good effects of the incentives are the growth of sales revenue performances by 28.29 percent, as well as the growth of income from the sale of performances abroad the market by 35.17 percent.

He stated that the projects of economic subjects were supported by the award of incentives total value of 60.8 million KM, related to the procurement of modern technology and equipment.

„The projects were fully implemented by 167 economic subjects, while with 20 of them was made an annex of the contract and the deadline for its implementation was extended due to justified circumstances, while one business subject did not realize the project and the funds were returned to the budget“, Petricevic pointed out.

Petricevic announced that the Ministry of Economy and Entrepreneurship will As regular activities in the second half of September in cooperation with the World Bank perform project implementation control.

„Given that the analysis of the financial indicators of the business of the beneficiary of incentives indicates positive developments, we believe that the granted incentives achieved the appropriate effects and justified the expected results“, Petricevic pointed out.

He stated that the incentives for direct investments supported the investments of business entities for the procurement and introduction of modern equipment and technology in the value of about 60 million KM.

Petricevic reminded that the Budget for 2022 planned funds for implementation of incentive projects for direct investments in the amount of 12. 000. 000 KM, and that the Government of Republika Srpska on 25.  August made a decision that the Ministry of economy and entrepreneurship make available an additional 1. 500. 000 KM per public call for direct investments so the funds for these purposes will amount to 13. 500. 000 KM

„The largest investment is realized in the metal and electrical industry sector, followed by the wood sector and the paper production industry. And in the textile and footwear industry, which is recognizable as an industry with low capital accumulation, significant investments are being made in the development of our own product“, he stated.

Petričević emphasized that significant investments are related to the procurement of production line, digitalization of production processes, CNC machines, robots, lasers etc.

The right to incentive is realized on the basis of the project of the business entity, which for the subject may have the acquisition of modern technologies and equipment, acquisition of new or used equipment that is not older than 12 years, or development and innovation, and the funds are intended for co-financing part of the investment projects of economic subjects from processing industry /sector C/.

 

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