Serbian Minister of Economy Goran Knežević and owner of the production company Iervolino Entertainment, Andrea Iervolino, today signed a Memorandum of Understanding. This memorandum implies investments in the construction of the studio for short, animated, web and streaming content in Serbia, as well as education and employment of highly qualified staff.  

In addition to the production of these movie forms, which will begin this year in Serbia, the transfer of copyrights is also planned, while the development of the project will be divided to phases.

The signing of the memorandum was also attended by the Serbian actor and one of the owners of the production company Archangel Digital Studios, Miloš Biković, who is also responsible for the arrival of Iervolino Entertainment, the Ministry of Economy announced.

“Serbia is a strong and stable country and a good place to invest in, which is now entering the more advanced phase in attracting investors, where knowledge and technology are the most important assets”, said Minister Knežević.

He pointed out that, with the memorandum, it is planned that the production company from Italy will open a studio for making short, animated, web and streaming forms in Serbia, and invest at least 8.5 million euros and employ 580 highly qualified experts.

“It is planned that the company Iervolino Entertainment will establish a company to which it will transfer more than 11 million euros of copyrights, as well as to produce animated movies, at least ten during the year, worth minimum 150,000 euros, or for animated series at least 150,000 euros per episodes”, Knežević said.

Iervolino thanked the Government of Serbia, which supported the entire project, and announced that the first employees of their Serbian company would start working on July 1. Productions made in Serbia will be distributed worldwide and in at least 150 countries.

“Our plan is to produce content worth one billion euros in Serbian cinematography by 2031”, Iervolino said.

Miloš Biković emphasized that Serbia has talented young scientists, athletes, and said that he would now have the opportunity to show the talents that exist in art, design, script writing, and added that he believes that the results will exceed expectations, it was announced in his statement.