Serbia and China will do everything to accelerate the start of construction of the Serbian-Chinese industrial park in Borca, a suburb of Belgrade.

Minister of Innovation and Technological Development Nenad Popovic and Chinese Ambassador Li Manchang said this during their meeting in Belgrade.

As announced by Popovic’s cabinet, the details of the commercial agreement to build the park will be defined in talks with partners from the Chinese state company China Road and Bridge Corporation (CRBC), in charge of implementing the project on the Chinese side.

“In the shortest possible time we will establish a joint venture that will be entrusted with the construction of an industrial park in Borca,” Popovic said and added he expected the work to start during this year.

Popovic said that Serbia wants to rely heavily on China’s experience in building innovation infrastructure.

“We want to develop a concept of industrial parks modeled on parks in China. We have talented young engineers, a strong university base, an innovation community that is rapidly developing, and along with that, we are pursuing a state policy that gives strategic importance to innovations,” said the minister, pointing out that Serbia has the potential to become a regional hub for innovation within the Belt and Road initiative.

According to Popovic, the future industrial park in Borca will spread on 320 hectares and have more than a thousand domestic and foreign innovation companies. According to a feasibility study, the planned investment will be worth 300 million euros, while the park will employ more than 10,000 people.