Brnabic: Philip Morris to invest additional 100 mln dollars in Serbia

NIS - Serbian PM Ana Brnabic on Wednesday announced a new 100 mln dollar Philip Morris investment in Serbia that will create 200 jobs in Nis.

Brnabic made the announcement at a ceremony that marked 20 years since the privatisation of the Nis Tobacco Industry, acquired by Philip Morris in 2003.

A MoU between the Serbian government and Philip Morris was signed on the occasion.

Brnabic, who signed the document on behalf of her government, congratulated Philip Morris on 20 years of successful operations in Serbia and said the anniversary was a new beginning for the company in the country.

She noted that Philip Morris was a leader in innovation and modern technologies that kept offering its customers increasingly innovative and constantly improving solutions.

"I see this as a new beginning - 100 mln dollars is particularly important when some of Europe's biggest economies are in recession and when we have considerable instability and war in Europe. I also see this as the beginning of a new life for Philip Morris in Serbia," she said.

"Thank you for demonstrating with this investment that you believe in the fact this country has incredibly talented, creative, innovative and very well educated people, especially in the field of modern technologies," Brnabic told Philip Morris representatives.

With the new investment, total Philip Morris investments in Serbia will exceed 1 bln dollars.