The founder and president of the Chinese company “Minth Group”, Chin Zhong Hua, has announced a new investment in Serbia, which, as he stated for Tanjug, will become the future European manufacturing hub for automotive components. “In addition to our existing investments in Loznica and Šabac, we are looking for a location to build a larger production base. Our initial plan is to construct this base in Inđija, although we are not excluding other options. However, Inđija is currently our top choice,” Chin told Tanjug.
According to him, many of the “Minth Group” plans are already in progress, and he will personally visit Serbia in February.
“We hope to have a productive discussion with your government’s representatives regarding procedural matters. We aim to make some progress, and by May or June, we plan to officially start production at the new base,” Chin added.
Commenting on the sanctions imposed by the United States on the Serbian Oil Industry, Chin expressed concern that energy costs would rise, which he believes could negatively impact Serbia’s economic development. However, he also emphasized that with the change of the U.S. administration on January 20, he hopes that President Aleksandar Vučić will introduce new or better ways to address these challenges.
“Additionally, the new U.S. administration wants to end the war between Russia and Ukraine. We see this as a very good opportunity. If we can resolve this, we can not only end the crisis but also improve Serbia’s overall status in the international community,” Chin said.
Regarding the company’s operations in Serbia, Chin noted that the lack of a seaport makes logistics costs in the country up to twice as high compared to other countries. He believes that the Sava River can be a valuable resource that could be utilized for internal transport, and that it’s possible to build ports along the river.
“This is a system we have here in China. If we can adopt our experiences and use such a system, we can truly utilize the Sava River to transport products to other parts of Europe, which would significantly reduce costs,” Chin pointed out.
As the “Minth Group” is also organizing trips for young people to China as part of a cultural exchange program announced by Chinese President Xi Jinping during his visit to Serbia last May, Chin said that this will be an ongoing effort. His country has already hosted 200 students and high schoolers from Serbia.
“We started this initiative due to promises made by the two national leaders, Xi Jinping and Aleksandar Vučić, but that’s not the only reason. The second reason is that we believe young people are the future of the country, and every year, we plan to bring 300 students to China, and potentially to other countries, to study, broaden their horizons, and grow quickly,” Chin explained. He believes that cultivating talents will not only help Serbia’s economic development but will also speed up the country’s progress.
“These students are also, in a way, ambassadors for the Chinese people to better understand Serbia,” concluded Chin.
It’s worth noting that President Vučić recently met with Chin, emphasizing that the significance of Chinese and broader Asian investments is increasing, both for Serbia and the rehgion as a whole.
The Chinese innovative company “Minth Group,” which manufactures auto parts for nearly all European and global car manufacturers, employs over 20,000 people worldwide. In addition to China and Serbia, it also has factories in Mexico, the United States, the Czech Republic, and Hungary.
Established in 1992, the company made its first investment in Serbia seven years ago.