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Fresh investments in agriculture
September 24, 2001



Belgrade, September 24 - Serbian Minister of Agriculture, Forestry and Water Management Dragan Veselinov and Chairman of Israeli company Merhav Group Yosef Maiman signed a memorandum of understanding providing for investments in 20,000 ha of Vojvodina's irrigation system between 2001 and 2005.

"Within the next three months Merhav will prepare a programme of investment in this project, which will result in tens of thousands of new jobs", Veselinov said, adding this was just an initial, $83 million phase of the project and that the Merhav Group was interested in investing in other areas of agriculture as well.

According to Veselinov, the project will not "exploit" Serbia, but rather will provide us with access to the global market. Veselinov described the fact that one of the world's largest investment groups wants to invest in our country as "yet another confirmation of Serbia's market stability."

Yosef Maiman said the Merhav Group does business in more than 50 countries throughout the world, and that it wants to be Serbia's partner, not only an investor. The first phase of the investment project will be completed within a week.
 


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