Economy
Surroundings of Subotica are mainly farmland but the city itself is an important industrial and transportation centre in Serbia.
Because of the surrounding farmlands Subotica has some of the most famous food producer industries in the country, with brands such as the confectionery factory "Pionir", "Fidelinka" the cereal manufacturer, "Suboticka mlekara" a milk producer and "Simex" producer of strong alcohol drinks.
There are a number of old socialistic industries that survived the transition period in Serbia. The biggest one is the chemical fertilizer factory "Azotara" and the rail wagon factory "Bratstvo".
Currently the biggest export industry in town is the "Siemens Subotica" windmill factory and it is the biggest brownfield investment so far. The other big companies in Subotica are: Fornetti, ATB Sever and Masterplast.
The most recent companies to come to Subotica are Dunkermotoren, and NORMA Group.
The main reason why foreign industry is usually interested in Subotica are (according to the local economic development office (web-site)):
- Perfect strategic location for business development
- Efficient and business friendly administration
- Free zone and logistic center
- Well trained, hardworking and easy to come by labour
- Great tourist recognition
The city received the NALED award for being the one of five best cities in Serbia for investors in 2010 and also has the NALED business-friendly certificate.
Tourism is significantly important to the city due to Palić and the Palić Lake being near by, which is by itself a tourist destination. In the past few years, Palić has been famous for the Palić Film Festival.
Subotica is also a festival city, hosting more than 17 festivals over the year. (web-site)
Read more about this topic: Subotica
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)