Serbian President Aleksandar Vucic wrapped up a visit to Japan on September 17 with a pitch to Japanese companies to expand operations in his country, highlighting Toyo Tires’ growing footprint as a showcase of Serbia’s investment appeal.

As bne IntelliNews has argued, Serbia and the Western Balkans are emerging as attractive destinations for foreign direct investment (FDI), driven by post-pandemic recovery and rising costs in Central Europe.

Vucic met executives of Toyo Tire in Tokyo, discussing plans to enlarge the company’s Serbian operations, including a research and development centre and additional capacity at its plant in the northern town of Inđija. The factory, opened in 2022, was Toyo’s first in Europe and has since become the focus of its regional operations.

“By investing in their factory in Inđija, the first Toyo production in Europe, they showed confidence in our country,” Vucic wrote in a post on Instagram. He added that Serbia would “do everything to provide stable business conditions and predictable access to key markets” despite new trade barriers.

Toyo, which announced late last year it would shift its European headquarters from Germany to Serbia by end-2025, also plans to relocate its research centre there by 2027. The company has said Serbia’s location, skilled labour force and trade agreements make it an attractive production base for both Europe and the United States.

The president also attended a presentation on Serbia’s investment potential in Tokyo, telling Japanese executives that the Balkan state offers an educated workforce, modern infrastructure and strong incentives for manufacturers. More than 30 Japanese companies currently operate in Serbia, mostly in the automotive, electrical and manufacturing industries.

Marko Čadež, head of Serbia’s Chamber of Commerce and Industry, said Japan’s shift toward the European market was opening new opportunities. “The world is changing rapidly, global supply chains are being redefined, and if you want to be present in Europe – you have to have your production in Europe. Serbia … is one of the most attractive destinations for such investments,” he told state broadcaster RTS.

Serbia is counting on fresh Japanese capital to sustain record foreign direct investment inflows. Trade Minister Jagoda Lazarević noted this week that the Japan External Trade Organisation (JETRO) is expected to reopen its Belgrade office, which she said would accelerate new projects.

During his visit, Vucic also met Emperor Naruhito and Prime Minister Shigeru Ishiba and thanked Japan for supporting Serbia’s preparations for the 2027 World Expo in Belgrade.