Executive Newsletter | Member of Ninamedia

Investments in EXPO2027 EUR 2.5 billion

President of Serbia, Aleksandar Vučić, stated last night that the construction of a new fair, exhibition space, and residential block for the specialized international exhibition EXPO2027 will amount to about EUR 2.5 billion, while total investments within the Leap into the Future – Serbia 2027 program reaching EUR 17 billion.“The direct costs for the exhibition itself will be up to EUR 2.5 billion,” Vučić said during an appearance on RTS. However, he specified that as part of the Leap into the Future program, for example, the construction of the high-speed railway from Belgrade to Niš will cost EUR 3.0 billion, and the Smile of Vojvodina highway EUR 2.0 billion. He added that the construction of the BIO4 campus is also part of the Leap into the Future project, costing several hundred million euros. Vučić stated that financing the construction projects around the specialized EXPO2027 fair is not a problem, but rather, the workforce is. He estimated a need for the engagement between 12,000 and 20,000 workers from abroad. “So far, we have had the most from India and Turkey. I believe there will be from the Philippines, Bangladesh, and many other countries,” Vučić told RTS. He assessed that inflation in Serbia is under control, currently at 6.4 percent, has been falling for several months consecutively, and is moving towards the targeted goal of 3 percent. He said that Serbia will not see a significant increase in energy prices. “We must keep energy prices under control. Otherwise, there will be no further growth because we will lose our competitive advantage with investors compared to other countries,” he said.