Investment opportunities
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The evolution of the economic environment in Vojvodina, based on natural resources and a favorable geographical location, has undergone significant structural changes in the past decade and is now entering its most crucial phase.
The IT sector has become Serbia’s leading export sector, exhibiting the highest surplus and fastest growth. Last year’s exports reached 3.44 billion euros, a 27% increase compared to 2022. In the first quarter of 2023 alone, exports equaled the value of the entire year of 2017.
The manufacturing industry
The manufacturing industry has been Vojvodina’s most dynamic economic sector in recent years, undergoing intense structural changes.
Within the manufacturing industry structure, we have observed the highest growth in gross value added in the:
- petroleum
- electronic
- metal
- rubber
- plastics
- wood
- and paper industries.
Employment growth has been highest in the electronic and petroleum industries.


The food industry
The food industry, encompassing beverages and tobacco, contributed 23.4% to Vojvodina’s manufacturing industry’s gross value added in 2021.
Considering the region’s rich tradition in raw materials and its significant potential in the food market, the further development of this sector is crucial for Vojvodina’s economic advancement. Vojvodina holds a strategic advantage, with 84% of its territory covered by fertile agricultural land and boasting one of Europe’s largest hydrological hubs with a 1,400 km network of navigable canals and rivers.
The food industry has witnessed growth propelled by foreign direct investment, efficient utilization of natural resources, existing institutional infrastructure, and competitive logistics costs to the EU market. Predictable logistics and comparative operational costs, favorable labor costs, and a tradition in associated industrial sectors have attracted many foreign companies to locate their production capacities in Vojvodina.
Predictable logistics and comparative operational costs, favorable labor costs, and a tradition in associated industrial sectors have attracted many foreign companies to locate their production capacities in Vojvodina.
Vojvodina’s agribusiness sector offers:
Abundant Resources: Ample fertile soil and optimal climate conditions support premium food production.
Expanding Export Market: Witnessing a consistent increase in export volumes, fueled by a resilient agricultural sector that propels economic expansion.
Firm Foundation: Vojvodina’s agribusiness is poised for further development with a long-standing tradition and significant agricultural households.


automotive supply sector
The most significant influx of foreign direct investment (FDI) in the past five years has been in the automotive supply sector, contributing to its development and significance alongside existing and planned Original Equipment Manufacturer (OEM) factories within a 500 km radius.
The automotive sector in Vojvodina holds immense promise, supported by:
Strategic Location: Ideal for JIT/JIS production models, with proximity to leading car manufacturers.
Access to OEMs: Within a 1,250 km radius, providing access to top players in the industry.
Competitive Costs: Operational costs remain competitive, attracting new investment projects.
Tradition of Excellence: Vojvodina boasts a long-standing tradition of high-quality production standards.
Educational Support System:
- University Support: The University of Novi Sad offers tailored programs, with the Faculty of Technical Sciences specifically catering to investors’ needs.
- Vocational Training: Vocational schools provide specialized training in critical areas such as metal processing and automotive technology.
- Industry Collaboration: Partnerships with technical schools and universities ensure alignment with industry requirements.


startup ecosystem
Serbia’s startup ecosystem has grown significantly in recent years, supported by a rich talent pool and proactive government backing. Startup Genome has identified Belgrade and Novi Sad as promising startup ecosystems. Novi Sad is becoming highly attractive for R&D centers of large companies, where engineers develop high-tech solutions and innovative products. Recent trends in FDI in the Vojvodina region indicate significant shifts towards investment in R&D centers, providing more excellent added value to the region’s economy. Serbia was the first in the area to adopt a National Strategy for the Development of Artificial Intelligence and establish the Research and Development Institute for Artificial Intelligence Serbia, located in Novi Sad.
Investment opportunities include food processing, e-mobility, agricultural technology, gaming, robotics, and automation.
ICT in Vojvodina
The ICT sector in Vojvodina boasts a vibrant and dynamic ecosystem, marked by:
- Thriving Local Ecosystem: Home to over 500 companies, employing more than 15,000 skilled IT professionals.
- Presence of Industry Giants: Global leaders like Microsoft, Siemens, and Bosch have established successful operations in the region.
- Robust Institutional Support: Strong government backing and IT-focused business incubators drive innovation and growth.
- Educational Excellence: Over 900 university students enroll in IT-related programs at the Faculty of Technical Sciences each year.

If you are considering investing in the Vojvodina region and seeking the ideal location while wanting to understand all the investment conditions, please get in touch with a foreign investment advisor.