Construction of research and development center as "intro" to chip factory - Serbian government and UAE's Mubadala sign Memorandum of Understanding

(Photo: YouTube/screenshot)

Mladjan Dinkic, deputy chair of the Committee for Cooperation with the United Arab Emirates (UAE), spoke yesterday with Mubadala executives, who he said were impressed with the scientific community in Serbia. Dinkic noted after the meeting that a binding agreement should be signed in eight to ten weeks and then used as the basis for the commencement of implementation of the first phase of the project - research and development center.

The next step will be to prepare a feasibility study, after which the construction of chip factory should kick off in a location that will be chosen by Mubadala.

- We should allow them to build the factory wherever they find it suitable - said Dinkic.

After the meeting that was attended by Mubadala CEO Khaldoon Al Mubara and Executive Director Waleed Al Mokarrab, Dinkic stated that Mubadala was about to bring to the IT and high-tech industry what Fiat had brought to Serbia's automotive industry five years earlier.

Dinkic reiterated that Mubadala was one of the world's leading companies in the production of chips with its annual turnover being at USD 5 billion and growing at a fast pace.