In the Japanese capital, Tokyo, the Serbian-Japanese Business Club has been founded, which will work in the future to deepen economic cooperation and play a significant role in promoting our economy and country in that Far Eastern realm.
The official inaugural event of the Serbian-Japanese Business Club took place on Monday in the Japanese capital, Tokyo.
The business club has brought together 22 Japanese companies and organizations, including investors in the Serbian economy such as “Japan Tobacco,” “NIDEC,” “Jatco,” “Toyo Tires,” and others.
The club is expected to contribute to deepening economic cooperation between the two countries through the exchange of information. It will provide opportunities for Japanese companies operating in Serbia to share their experiences with other potential investors from Japan.
The position of the president of the newly established business club has been accepted by Mutsuo Ivai, the CEO of the Japanese tobacco industry giant “Japan Tobacco” (JT).
The leading Japanese investor in Serbia is the tobacco company “Japan Tobacco International” (JTI), a subsidiary of the parent company, known as JT. JTI was the first Japanese investor in Serbia (after the dissolution with Montenegro) and entered the country in 2006, investing in a tobacco factory in Senta.
In a conversation with an RTS journalist in Tokyo, CEO Ivai stated that his company was attracted to Serbia because it offered both production and processing, as well as the sale of tobacco. This completeness in the business chain is a rare feature globally.
Over the years, JTI has gradually modernized and expanded its facility in Senta, increasing its ownership stake, which now stands at 26 percent. Their experts have worked on transferring Japanese methodologies for improving productivity and streamlining operations. Additionally, they have adapted Vojvodina tobacco to meet the requirements of various foreign markets.
Over the past 15 years of doing business, Japan Tobacco International (JTI) has invested over $200 million in Serbia and contributed around $3 billion to the state budget through taxes. Besides its efforts to contribute to employment in Serbia, the company aims to act as a cultural bridge between the two countries, promoting Serbia as an investment destination in Japan.
JTI also awards the “Sakura” scholarship to Serbian citizens interested in studying Japanese culture and donates money to aid the elderly and individuals with disabilities in the local community in Senta.
In an interview with RTS, CEO Ivai announced that the company plans to invest $40 million in the construction of warehouses and the modernization of the factory in Senta next year. He also expressed intentions to increase the number of workers in the future and continue developing sales.
According to 2022 data, tobacco alone constitutes 90 percent of Serbian exports to Japan. Serbia exports fruits and clothing to Japan while importing machinery, electronics, synthetic rubber, and automobiles.
