According to the latest European Economic Forecast published by the European Commission (EC) in May 2016, EC has raised its forecast for Serbia’s GDP growth in 2016 to 2 percent, while the 2017 GDP growth has been anticipated to be at 2.5 percent.
At this year's International Technical Fair in Hannover "HannoverMesse 2016", held from 25 to 29 April seven Serbian companies presented their products at the National stand of Serbia, jointly organized by the Development Agency of Serbia (RAS) and the Serbian Chamber of Commerce (PKS).
Domestic companies exhibitors at the National stand were Metalurg, Slovo, Ewes Europe East, Berko, Metalopromet, Termometal, and FMP Agromehanika.
This year’s partner country was The United States, while the Fair was opened together by the US President Barack Obama and German Chancellor Angela Merkel.
Hannover Messe is held for more than 60 years and is the leading technology fair in the European market of Europe. In 2016 the fair was attended by more than 5,200 exhibitors, and was visited by more than 190,000 visitors.
This spring there were openings of several new factories and production facilities. In the food and beverage sector, Austrian Gerlinger opend its factory in Sremska Mitrovica, announcing investment of 20 million euros, Indonesian Delta Danube opened factory in Kovin, and Nepal Chaudhary Group opened factory in Ruma, announcing investment of 8.5 million euros and more than 400 employees. In the automotive sector, Johnson Electric announced expansion and new investment of 50 million euros that will engage 2,400 employees in Nis, whileTurkish Teklas Automotive opened its production facilities in Vladicin Han. Beside new investors, a few of those who are already doing business in Serbia, expanded their business like Masterplast in Subotica, Calzedonia through its joint venture Flash SRB, etc.
During the April 2016, various investment projects started in Serbia. Mei Ta Group started construction works at their location in Obrenovac, announcing 60 million euros worth investment and future hiring of 1,400 employees. Also, Swedish IKEA started building of its facilities in Belgrade, announcing 70 million euros worth investment, same as Hilton hotel that started construction works for their hotel building in the center of Belgrade. Aside from newly come investors, German IGB Automotive started with investments in another production facility in Indjija, that will be place for 500 new workers. Additional expansion was announced also by French Mecafor in Kikinda.