At the Serbia-Japan Business Forum held in Belgrade, the automotive and IT sectors were highlighted as key areas with significant potential to attract Japanese investors. Last year, trade between Serbia and Japan amounted to $332 million, with nearly 75% of this figure representing imports from Japan, primarily cars and acetate cables. Serbia’s main exports included cigarettes and inactive yeast. Although this trade volume is modest, experts believe there is considerable room for growth.
President Aleksandar Vučić emphasized the involvement of Japanese companies in major projects in Serbia and anticipated the arrival of more investors from Japan.
In the first half of this year, trade between the two countries reached $160.1 million, with Serbian exports totaling $35.4 million and imports at $124.7 million. From 2010 to 2023, Japanese investments in Serbia totaled €473.4 million.
The Serbian Chamber of Commerce identified opportunities for Serbia to export agricultural products, particularly berries, which are highly valued in Japan. Additionally, organic products, healthy foods, wines, spirits, mineral water, and herbal teas are of interest to Japanese companies.
Currently, there are 17 registered companies in Serbia with majority ownership by Japanese nationals or entities. Notable Japanese investments include Nidec and JFE Shoji Corporation. Nidec, a leading global manufacturer of electric motors, has invested €250 million in Serbia, with plans to invest a total of €800 million. The company has opened two factories in Novi Sad, producing electric motors and electronic devices for automotive control systems. Nidec also established a development center in Novi Sad to foster research and innovation.
Meanwhile, JFE Shoji Corporation is constructing a factory in Inđija for metal parts production, with an investment of around €50 million, set to begin operations in early 2025.
The construction of the reversible hydroelectric plant “Bistrica,” supported by Japan, is expected to start in 2026, with preparatory work commencing in 2025.
Goran Pekez, president of the Japan Business Alliance in Serbia, noted that Japanese companies are exploring investment opportunities and integrating operations in Serbia with their European networks. Serbia’s recent improvement in investment credit ratings is seen as a positive sign, potentially encouraging Japanese investors to consider Serbia as a viable investment destination.
Pekez highlighted the automotive and IT sectors as having great potential to attract Japanese investments, noting that the well-developed supply chains of Japanese companies in Europe create ample opportunities for Serbia. He also pointed out that Serbia’s skilled workforce is a significant advantage, with a high percentage of job applicants fluent in English, making the country an appealing choice for Japanese investors.
