SEPTEMBER 22 2012 12:35h
BELGRADE, Sept 22 (Hina) - Croatia's Agrokor company, which has a retail chain in Serbia called Idea, has said it has invested EUR 450 million in ten years of doing business in Serbia and that it expects to earn EUR 800 million there this year.
Agrokor is satisfied with its operations in Serbia, where it has a market share of eight per cent, executive vice president Ante Todoric told Beta news agency.
He said Agrokor was one of the six biggest companies in Serbia with 6,500 employees.
"We expect and hope the Serbian government's new measures will kickstart the economy and investment, and encourage consumption, which is the key for maintaining and improving existing ventures," said Todoric.
He predicted that Serbia's VAT increase from 18 to 20 per cent would not cause drastic changes and that prices could go up about one per cent.
Todoric said food prices in Serbia were 20-40 per cent lower than those in Croatia and Slovenia.
He would not say if Agrokor intended to take over some companies in Serbia and what its plans were.