This project is funded by the European Union (EU) and is implemented by WYG International on behalf of the EU Delegation to Republic of Serbia.

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Business Zone Kolovrat – Ready for Investments

Business Zone Kolovrat is an industrial-commercial zone on the border of Serbia, Montenegro and Bosnia-Herzegovina, and its boundary position is very interesting for all industrial or manufacturing activities, which can easily be placed on all three markets. Most frequent economic activities in the area are: production, processing, building materials, storage, trading, transport and distribution.

Business Zone Kolovrat project is implemented through partnership of Municipality of Prijepolje, Public Utility Company Lim and Zlatibor Regional Development Agency for a period of 22 months and a budget of 643.221 euros, of which 465.583 euro was financed by the European Union while the additional € 177,638 was provided by the Municipality of Prijepolje in cooperation with the Directorate for Water of the Republic of Serbia.
Commercial land Kolovrat project aims to contribute to the creation of employment opportunities in the sub-region through the fulfillment Polimlje infrastructural preconditions for the smooth business development and promotion of free locations in the zone itself.
Speaking about the project Business Zone Kolovrat, Minister without Portfolio in the Government of RS, Mr Ugljanin, said: “Based on the completed project, funded by the Office for Sustainable Development of Underdeveloped Areas and partly Municipality of Prijepolje, the municipality has received EU funding for construction of water supply amounting to around 465.000 euros. I believe this is a very important project since the construction of the system will improve water supply for local communities thus solving the problem of water supply for the Industrial Zone Kolovrat. I am sure, that the implementation of this project will contribute significantly towards private sector development in the municipality of Prijepolje”.

On behalf of the donors, attendees were addressed by Mr Martin Flaherty, Team Leader of Regional Socio-Economic Development Programme 2, programme funded by the EU, who emphasized: “By improving the infrastructure and systems for safe and steady supply of water within the business zone environment will be created that will ensure the existing businesses with continuous growth and development and, furthermore, will create space for new companies to start their business in this commercial zone creating even larger number of employment opportunities. In accordance with the best traditions of the EU, this project focuses on the preservation of employment and job creation, contributing to a favorable climate for potential investment and equal regional economic development, which will certainly play an important role in the overall regional prosperity. “The importance of sustainability, employment and support investment is clearly demonstrated by the fact that sustainable growth is up 46% of the total EU budget for 2012.”, added Falherty and concluded:” The European Union has a strong experience from the Member States that the partnership of different sectors – public, private and civil sector is the recipe for sustainable success of a project as well as entire economic development”.

He finally called on investors to invest in the Business Zone and Kolovrat Prijepolje Municipality, which is now fully equipped with infrastructure to support various economic activities.

Dejan Radulovic, Deputy Minister of Regional Development and Promotion of Entrepreneurship emphasized that Serbia attracted more than $12 billion of foreign direct investment in the last 5 years through proactive promotional activities. “The area of ​​business infrastructure, which includes parks and industrial zones, business zones, clusters, business incubators and tourism infrastructure is of great importance for attracting foreign direct investment, promotion, job creation and preservation of existing employment”, said Radulovic stressing thus the importance of Business Zone Kolovrat project for the development of the entire region Polimlja.

‘We are currently making the most important strategic document for regional development in Serbia – National Regional Development Plan 2013-2022. Future priorities of regional development will be based on people, location, production capacity and administrative capacity. Future priorities will be based on competitiveness, people, location, administration and development capacities in order to achieve economic growth and revitalization of the region”, concluded Radulovic.

Business Zone Kolovrat covers 60 hectares, of which 25 acres of land is cultivated. There is currently an open call for land lot rentals.