The tire manufacturer Linglong, based in Zrenjanin, recently acquired a five percent stake in the Belt and Road Institute, previously established as a state entity, as reported by Forbes Serbia.
This ownership shift, officially registered on May 16th, followed a request from the Institute’s director. Initially, the Serbian government held a majority stake of 51 percent, with the Chamber of Commerce of Serbia (PKS) owning 40 percent, and the University of Novi Sad holding the remaining nine percent.
In March 2022, the Serbian government reduced its ownership to 33 percent, while PKS reduced its share to 25 percent. The remaining 33 percent was reserved for allocation to Chinese companies operating in Serbia.
Serbia Zijin Copper from Bor became the first corporate partner, acquiring a five percent stake last June. Linglong International Europe, a prominent tire manufacturer with European operations based in Zrenjanin, joined the Institute’s ownership structure on May 16th.
Established in December 2021, the Belt and Road Institute aims to foster partnerships with political, industrial, educational, cultural, and other institutions from countries participating in the Belt and Road Initiative, with a particular emphasis on Sino-Serbian relations.
The Institute’s objectives include expanding networks among key stakeholders, exploring opportunities for partnerships, and providing various types of support to governments, companies, academic circles, and research centers in Serbia and Belt and Road countries.
Furthermore, the Institute seeks to boost the production of Chinese companies in Serbia, Central and Eastern Europe, and the EU, while also facilitating the internationalization of Serbian companies in markets participating in the Belt and Road Initiative. To date, the Institute and its founders have signed numerous cooperation agreements across Europe, Asia, and Africa.
Financial reports for 2022 revealed that the Institute operated at a loss of 1.8 million dinars, despite generating 9.9 million dinars in total revenue. Total expenses amounted to 1.7 million dinars, with the Institute employing one person by the end of the year.
