Japanese Investment and Business Relations in Serbia
More than nine thousand kilometers distance between Serbia and Japan is the answer why, despite good relations between the two countries, the foreign trade exchange between the two countries was just above 332 million USD last year. However, distance hasn’t prevented Japanese investors from locating their businesses here.
Serbia is among the top European investment destinations for them – after “Japan Tobacco,” and companies like “Nidec,” “Yazaki,” and “Toyo Tires” have set foot in the country. Toyo Tires have even opened their first European manufacturing site in Serbia as further proof of Serbia’s good strategy in attracting investment from the Far East country. These ventures not only bring economic benefits but also foster cultural exchange and technological advancement. As these investments continue to flourish, the business landscape in Serbia transforms, offering new opportunities for growth and prosperity. With a shared commitment to excellence and innovation, the business relations between Japan and Serbia grow stronger.
Mutsuo Iwai on Japanese Investments: Serbia as a Reliable Partner
Due to the increasing attention directed towards our country, the Serbia-Japan Business Club was established at the end of last year, bringing together 22 companies representing Japan. Among these are key investors in the Serbian economy such as “Japan Tobacco,” “Nidec,” “Yazaki,” “Toyo Tires,” and others. The club is expected to contribute to deepening economic cooperation between the two countries through the exchange of information, providing Japanese companies operating in Serbia with the opportunity to share their experiences with other potential investors from that country.
Serbia is among the top European investment destinations for Japanese investors
Mutsuo Iwai, the President of the Serbia-Japan Business Club and the Chairperson of the Board of Japan Tobacco, shared with our reporter in Tokyo his perspective on Japan’s burgeoning interest in Serbia’s investment potential. Iwai unveiled investors’ plans for contribution to Serbia’s emerging sectors, particularly in artificial intelligence and green energy.
“Serbia’s allure lies in its stability and strategic position between East and West. The strong relationship between Serbia and Japan further enhances its appeal to Japanese investors. The business environment is stable and Serbia offers attractive investment opportunities, especially for small and medium enterprises“, said Iwai accentuating bilateral ties that last for 142 years.
Furthermore, Iwai shed light on Japan’s meticulous decision-making process, characterized by thoroughness and attention to detail. He stated, “Japanese investors are deliberate in their approach. They meticulously analyze every aspect before making investment decisions.”
Reflecting on Serbia’s reliability as a business partner, Iwai remarked, “The success of Japanese ventures in Serbia serves as a testament to the country’s reliability. Serbia’s willingness to support investors through subsidies and incentives, coupled with its pool of highly skilled professionals, further solidifies its position as an attractive destination for Japanese businesses.”
Strengthening Economic Ties: The Role of Japanese Business Alliance in Serbia
With the same goal to bring closer current and new investors, the Japanese Business Alliance in Serbia (JBAS) was established in Belgrade seven years ago. JBAS has emerged as a cornerstone in the promotion of economic and cultural relations. With its inception driven by Japanese companies and supported by key stakeholders including the Embassy of Japan in Serbia, JETRO, and JICA, JBAS has rapidly expanded its membership to include 57 companies.
“When Japanese investors come to Serbia, it’s not just about the amount of money they bring, but also the message they send to other investors worldwide”, says Goran Pekez, President of Japanese Business Alliance in Serbia.
Expo Osaka 2025 presents a historic opportunity for Serbia to showcase its investment potential in the East
One of JBAS’s primary objectives is to fully support the Government of Serbia and the domestic economy in participating and showcasing at Expo Osaka 2025 which will be held from April 3 until October 3, 2025, through the Government’s working group.
“Expo Osaka 2025 presents a historic opportunity for Serbia to showcase its investment potential in the East. This is a great opportunity for our country to attract Japanese and other international investors. Japan is third third-largest world economy and second-largest foreign investor with a total of $1.94 trillion of stock foreign investments. It would be a great success if we manage to take a small bite of that huge investment cake “, said Pekez.
The excitement surrounding this global event continues to grow, with Serbia emerging as a notable exception among its regional counterparts.
Ambassador of Serbia to Japan, Aleksandra Kovač, revealed to our reporter: “Serbia will be the only country from the region with its own pavilion at the expo in Osaka. This is an ideal opportunity to promote its potential, as well as itself as the host of the event to come in 2027 when Belgrade will host a specialized exhibition. The idea is to connect the two events, for Serbia to promote its event in Belgrade.”
The newest technology coming soon to Serbia
Japanese companies in Serbia and the region, bring along highly advanced technologies and know-how, as well as ethical standards. This is significant considering that human resource development, green transition, and investment in value-added technologies are essential for further development in Serbia. One such advanced innovation that JTI will launch in May in Serbia and in June in Montenegro is Ploom X Advanced, a tobacco heating device with unique HeatFlow technology.
