JTI: the first and biggest Japanese investor in Serbia 2003 - JTI opens the marketing and sales office in Belgrade 2006 - JTI acquires Tobacco Industry Senta - today JT International a.d. Senta Initial investment of USD 45 million USD 169 million JTI invested so far in Serbia.
Key rationale Supplying promising markets of Serbia and West Balkans Importance of CEFTA Free-trade agreement between Serbia, Montenegro, Bosnia & Herzegovina, Albania, (UN Mission in) Kosovo, Macedonia, and Moldova Provides 0% customs duty for our exports to Macedonia, Montenegro and Bosnia and Herzegovina EU trade liberalization Preferable customs rates for import of various goods from Serbia envisaged in Stabilization and Association Agreement JTI exports from Serbia Cigarettes to Bosnia and Herzegovina, Montenegro, Macedonia, Croatia and Albania Serbian-grown tobacco to the EU Total export of cigarettes and tobacco in 2013 worth USD 23,4 million 8 Why investing in Serbia?
Senta factory Factory in Senta West Balkan’s headquarters in Belgrade Offices in Bosnia and Herzegovina, Croatia, Albania and Kosovo JTI in Serbia production base for the Western Balkans 7 markets – one EU member and 6 CEFTA parties * *The map is without prejudice to positions on status, and is in line with UNSC 1244 and the ICJ Opinion on the Kosovo declaration of independence.
JTI: tax contributor in Serbia JTI is the 6 th largest taxpayer in the country 10 13.6 billion dinars contributed to the state budget in 2013.
JTI growth story Sales volume in Serbia increased by 50% despite significant market contraction JTI’s share of market in Serbia increased by over 100% since 2006
Tobacco growing operations in Serbia 12 JTI - a leader in tobacco production in Serbia with market share of 43% in ’12 JTI cooperates in Serbia with 250 seasonal workers and 180 farmers Continuous growth of tobacco production and total yield per hectare Over 50% increased tobacco purchase 80% increase in contracted tobacco
Today JTI in Serbia employs over 300 people From 2006-2013 JTI generated 200 new jobs Engages over 250 seasonal workers Internships programs for graduated students (2010 – 2014) - 34 interns Skillful and well educated (mostly English-speaking) workforce Employees – Wheel of our Growth
Senta factory is first in Serbia to implement Kaizen management process Fully accepted by the employees Productivity increased by 52% Reject ratio reduced by 66%. Factory certificated: ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007 14 Kaizen
Continuous dialog with the Government Communication maintained on all key aspects of economic legislation development Investor-friendly tax regime Salary tax rate -10% and corporate profit tax rate – 15%, among the lowest in the Europe National treatment of foreign investors Serbia’s EU aspirations influencing regulatory environment that is heading towards alignment with EU Predictable development of operating environment (e.g. excise calendar in tobacco industry) Conclusion The investment in Serbia proved to be good platform for business expansion of JTI in Serbia and Adriatica region 15 Business Environment in Serbia
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