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Vučić explained layoffs in the south by a “significant increase in wages”
The President of Serbia, Aleksandar Vučić, explains the closure of several foreign companies’ plants in the south of Serbia in the last few months by “significant increase in wages”.
At first, 1.250 workers stayed unemployed due to the closure of Benetton and Johnson Electric factories. Then 250 workers lost work when Centaur left Vranje. Moreover, Trendtekst in Bela Palanka and Vranje Solpro fired 50 workers each.
Similarly, the Leonija plant in Malošišt will have been closed by the end of the year, leaving 1.900 workers out of a job.
According to some employers, such as Centaur, one of the reasons for leaving was the increase in the minimum wage in Serbia. It grew extraordinarily in October and now attains 500 euros (58.630 dinars) and will increase even more in January to 550 euros.
According to the latest available data, the average salary in Serbia in September 2005 was 109.147 dinars, with the median net salary of 85.267 dinars. It means that half of workers earned up to the specified amount.
Another reason that the state leadership blamed for the departure of companies was the blockades that marked the year 2025.
According to economist Saša Đogović, an extremely high degree of political crisis, an extremely high degree of corruption in the country and the lack of a stimulating institutional environment are the reasons for the absence of foreign investments.
Nevertheless, on Thursday (December 11), the Italian company Ariston opened a new plant in Niš and by the end of the year it will have employed 175 people.
This company will produce cylinders and other parts for heat pumps.
As Vučić said during the opening of the plant, the people of Nis will earn decent wages due to this factory, but consumption in restaurants and shops in Nis will also increase.
He also added that this is the tenth or eleventh factory opened in Niš during his presidency.
As New economy reports, the state provided 22,2 million euros through subsidies for the Ariston plant laid in July 2024.
The commitment of the investor is to employ at least 300 new workers for an indefinite period by the end of 2027 and to invest at least 75 million euros.
According to the contract signed by Ariston and the Ministry of Justice in 2023, the share of the state subsidy of the cost of the entire investment is 29,6 percent.
It is also stipulated that the salary costs for new employees, in the two-year period after reaching the full employment, foreseen by the project, should be at least 7,2 million euros.
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Read moreProjects and jobs inside Kazakhstan’s 16 special economic zones in 2025
Kazakhstan’s 16 special economic zones (SEZ) with tax incentives, simplified customs procedures and ready industrial sites play a central role in the country’s investment strategy.
The law on special economic and industrial zones adopted in 2019, the Tax Code, Customs Code, and Land Code regulate the SEZ framework. Corporate tax exemptions, property and land tax relief, zero VAT on qualifying goods, simplified hiring procedures, and duty-free customs treatment are included in their benefits.
The production of rolling stock, electronics, armored vehicles, furniture, construction materials, and precision instruments is supported by Astana – New City, active from 2002 to 2027.
Another one is Saryarka, active from 2011 to 2036 in Karagandy, developing metallurgy, machinery, electronics, chemicals, and construction materials.
Pavlodar, running over the same period, is responsible for chemical and metallurgical production.
They established Ontustik in 2005, operating through 2030 in Shymkent, focusing on cotton processing, textiles, chemicals, and high-tech industries. The targets of the National Industrial Petrochemical Technopark in Atyrau, active from 2007 to 2049, are high-tech petrochemical production, hydrocarbon processing, research, and workforce training.
The Caspian Hub, a 19-hectare container terminal developed with Lianyungang Port Group, and the Sarzha maritime terminal at the Kuryk port are included in the Aktau Sea Port, operating from 2003 to 2052.
64 companies are functioning in Khorgos – Eastern Gate, operating from 2011 to 2036.
41 projects worth 234.4 billion tenge (US$454 million) are supported by the Khorgos International Center for Border Cooperation, active from 2017 to 2041.
Chemical production and industrial diversification are in the focus of Jibek Joly, operating from 2012 to 2037 in the Zhambyl Region.
In 2003 they launched the Park of Innovative Technologies in Almaty. Information and communication technologies, electronics, renewable energy, advanced materials, and telecommunications are its targets. IT, electronics, bioengineering, telecommunications, renewable energy, and advanced materials, and supports startups and research commercialization are the specializations of Alatau.
Industrial innovation and research, are integrated by Astana – Technopolis, active from 2017 through 2043, in partnership with Nazarbayev University.
Industrial, administrative, historical, and airport subzones are comprised in Turan (2018–2043) in Turkistan. Projects in polyvinyl chloride production, drip irrigation systems, and agricultural processing take place in its Central Asia International Center for Industrial Cooperation subzone.
The Special State Fund for expansion invested 9.6 billion tenge (US$18.6 million) in Qyzyljar (2019–2044) in Petropavlovsk.
Manufacturing, logistics, agricultural processing, chemicals, light industries, automotive components, and renewable energy are in the focus of Aktobe (2025–2049). Textiles, leather, machinery, electronics, paper, pharmaceuticals, metal production, logistics, and infrastructure construction are supported by Korkyt Ata (2025–2050) in the Kyzylorda Region.
Nevertheless, there are some difficulties. One of them is infrastructure development.
To solve this problem, Kazakhstan is negotiating with financial institutions and preparing legislative amendments to improve SEZ management and investment procedures.
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Read moreSalaries in the Polish labor market for Ukrainians
Updated employment data concerning Ukrainian nationals and their earnings within Poland has been released by the National Bank of Poland (NBP). The report shows that over 90% of Ukrainian citizens who relocated to Poland before 2022 are presently employed. The median net salary for Ukrainians working in Poland is lower than the median monthly income of Polish citizens and equals to approximately PLN 4,500 (₴52,000/$1,228).
Employment stability among refugees has also improved. The proportion of those employed under unstable contracts has decreased from 26% in 2023 to 17% in 2025 due to favorable conditions in the Polish labor market and migrants’ active integration efforts. The number of unemployed refugees in Poland has also decreased from 25% to14% for two years. Nevertheless, unemployment among refugees is still 300% higher than among Polish citizens. However, more and more refugees become self-employed.
Moreover, significantly increased administrative fees for obtaining work permits for foreign nationals, including Ukrainians, have been introduced by Poland as of December 1.
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Read moreDoubling output of existing medium-sized enterprises is Kazakhstan’s aim
A strategy to help existing medium-sized enterprises increase their production capacity two to threefold is being developed by Kazakhstan’s Ministry of National Economy, in partnership with the European Bank for Reconstruction and Development (EBRD). It is part of the “Improving the Investment Attractiveness of Medium-Sized Businesses” program, that Deputy Minister of National Economy Yerlan Sagnaev announced at a press conference hosted by the Central Communications Service. He said that companies will receive state-backed support in the form of diagnostic assessments and customized development plans.
As Sagnaev noted, metallurgy, light industry, construction materials, mechanical engineering, and chemicals are the most active sectors. Consequently, the state plans to prioritize them through joint programs with the EBRD.
Aldo, ministry data shows that the share for small and medium-sized enterprises (SMEs) in Kazakhstan’s GDP is now 39.8%. The sector’s total output increased by 25% in the first half of 2025 and reached $82.6 billion. The rise of employment in the SME segment attained 3.9% (totally 4.4 million people). The highest growth was in trade, industry, construction, transport, and agriculture.
Nevertheless, according to a recent Business Climate rating by the “Atameken” National Chamber of Entrepreneurs, only 10.1% of small businesses are interested in launching new projects, while 35.4% plan to expand. It means modest requests for government support (18.8%). Also, 6.2% of respondents are considering staff cuts or closures.
According to Timur Zharkenov, Deputy Chairman of the Atameken Board, a high tax burden (28.1%), labor shortages (16.2%), and inconsistent support from local authorities for investment initiatives makes medium-sized businesses the most concerned by pressing.
As a result, a decline in orders and a rise in production costs in autumn 2025 demonstrated the urgency of state support and the need to improve operational efficiency of domestic manufacturers.
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Read moreCooperation in labor and employment are discussed by Serbia and Uzbekistan
The further development of bilateral relations and new avenues of cooperation in the field of labor and employment were the subjects of the meeting between Serbia’s Minister of Labour, Employment, Veterans and Social Affairs, Milica Đurđević Stamenkovski, and the Ambassador of the Republic of Uzbekistan, Oybek Shakhadinov.
The Serbian Ministry of Labour, Employment, Veterans and Social Affairs said that Serbia and Uzbekistan share common values: respect for traditions, the preservation of national identity, and a commitment to strengthening families and society.
Also, significant economic growth of the both countries creates opportunities to exchange best practices and jointly advance labor and labor-migration policies.
The sides have an intention to sign a technical protocol between the national employment services ant to practically implement agreed measures.
The countries want to develop a sustainable, fair and mutually beneficial model of labor migration, supporting economic development and protecting the interests of domestic labor markets.
Notably, Memorandum of Understanding on labor migration signed by the President of Serbia during his recent visit to Uzbekistan. Due to this document, the competent institutions of the two states got the foundation for stable, systematic and long-term cooperation.
Moreover, Đurđević Stamenkovski received an invitation to visit Uzbekistan in March next year from ambassador Shakhadinov.
The minister appreciated this gesture, and the signing of a technical protocol that will elevate Serbia–Uzbekistan cooperation to a new, more concrete level might be the result of this visit.
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Read moreMinimum wage in Kazakhstan will be reevaluated in 2027-2028
As Deputy Prime Minister and Minister of National Economy, Serik Zhumangarin, said at a government meeting, the Government of Kazakhstan is investigating the possibility of raising the minimum wage in 2027–2028.
According to Zhumangarin, they expect real income growth for the population to attain an average minimum of 2–3 percent annually from 2026 to 2028.
Also, targeted employment support programs help this income growth, especially in the regions with low economic activity.
Other measures of managing inflation should be limiting withdrawals from the National Fund and tightening oversight on public expenditure. Strict adherence to budgetary regulations will be involved in this strategy. The government’s fiscal plan projects a decrease of the budget deficit to 0.9 percent of GDP by 2028. They also expect the non-oil deficit to decline to 2.7 percent of GDP. The current aim is not to let national debt levels surpass 26 percent of GDP.
Kazakhstan’s government will set minimum wage at 85,000 tenge (approximately $163 at the current exchange rate) as of January 1, 2024.
Also, the National Bank of Kazakhstan provided the official exchange rate as of November 19, 2025, stating that 1 USD equals 521.01 KZT.
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Read moreYoung people choose blue-collar professions, while AI changes labor market and puts office jobs at risk
Kazakhstan’s labor market is undergoing a gradual transformation due to Artificial intelligence. It means that blue-collar professions’ stability and resilience against AI disruption make them increasingly popular with Generation Z, while office and administrative roles encounter higher automation risks.
Employment trends also face a strong AI impact.
As the country’s center for human resource development reports, it is possible to automate approximately 13% of work tasks in Kazakhstan or around one million jobs in the long term. The most vulnerable ones are office support and administrative positions, where AI can potentially perform up to 45% of tasks. Opposingly, such sectors as construction, machine operation, electrical work, and transport are among the least affected. As Inbusiness reported on Nov. 13, automation can affect less than 2% of tasks there.
According to Kazakh Ministry of Labor and Social Protection, AI typically transforms job functions rather than eliminates them. Due to that, employees can focus on complex creative tasks and enhance productivity.
Blue-collar work becomes popular with generation Z.
Young workers’ preference for skilled trades has become a noticeable trend. The first reason is that they perceive these roles as more secure in the context of automation. The second one is higher returns on vocational training. Meeting steady market demand is the third reason.
This trend is also confirmed by international research. Forbes reports that 37% of Generation Z are already working or planning to work in skilled trades. According to the New York Post, 42% of Generation Z are pursuing blue-collar jobs, including those with a college degree. Low starting salaries in office jobs and the desire to avoid student debt made them do it.
Nevertheless, there is a gradual automation in Kazakhstan.
The Ministry of Labor and Social Protection reports that wage and cost considerations slow down automation in Kazakhstan in comparison with high-income countries. Finance, telecommunications, transportation, and digital services will be among the most affected sectors. At the same time, such initiatives as the Atlas of New Professions and Competencies, including roles in robotics, digital ethics, and advanced technologies, support new professions.
So, the county takes support measures.
According to Kazakh legislation, employers must notify career centers of planned layoffs at least one month in advance. If automation affects workers, they receive state support in form of vocational retraining, employment promotion programs, and social benefits. As the ministry underlines, the government is committed to promote proactive employment policies. They hope that flexible learning, career guidance, and individualized retraining will help citizens adapt to new realities of the labour market.
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Read moreWorking hours in Kazakhstan are longer than in America, but salaries are lower
The World’s Hardest Working Countries 2025 report by Visual Capitalist shows that Kazakhstan is among the countries with the longest working weeks (38 hours on average).
In the USA an average working week is 36 hours, in Canada – 32, in the UK – 31 and in the Netherlands just 26.8 hours.
Turkmenistan has an average working week of 41.9 hours, then follows Tajikistan with 41 hours. The third place belongs to Uzbekistan, where people work an average of 40.4 hours, the fourth is Kyrgyzstan with 35.2 hours.
The shortest working weeks in the world are in the Netherlands (26.8 hours), Norway (27.1) and Austria (28.4) thanks to developed economies and strong labor productivity
The longest working week is in Bhutan (more than 54 hours).
Though the standard workweek in Kazakhstan is 40 hours, there are suggestions of a four-day workweek.
Spain, Japan, Belgium, Poland and several other countries have already tested this approach after the COVID-19 pandemic, and results were positive.
Some Kazakhstani businesses discussed adopting this model in 2023, but it has not been implemented yet.
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Read moreThe main cause of sale price hikes in the construction sector is personnel shortages
According to Beso Ortoidze, CEO of the development company «Arsi», the value of real estate and sale prices rise each day due to the personnel shortages.
As a study by the Business Association Index shows, the greatest sales price growth is expected in the construction sector. BAG index demonstrates that 21% of the surveyed companies have already raised their sales prices in the third quarter of 2025. 32% are expected to do this in the fourth quarter.
The problem is that, despite different opinions in the sector, the situation today is politically stable for ones and unstable for others. Detention impacts investors and the economic situation in the country negatively.
A growing trend for building materials and rising wages makes the real estate prices grow naturally.
To tell honestly, the price growth happened in 2023, when it was 30-35% per year, and for two years it was about 60%. It was not a sharp growth. The rise of real estate prices this year was 6-7%. Prices have stabilized for the second year in a row.
The global problems began in 2019. In 2019 an annual growth was 10%, but in 2022-2023, the increase of prices accelerated, setting a new benchmark. Before that, the price of one square meter was 800-900 dollars, now it is $1 500 on average.
Now, the market is set to accept this price. There are expectations that it is a temporary situation, and it would decrease, but experts believe that the price would remain. The main target now is not to let prices rise sharply in the next 2-3 years.
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Read moreRising wages and fewer low earners in Georgia’s job market
As data compiled by the research group PMCG showed, 985,975 people received a monthly salary in September 2025 (a 4.9 percent increase from August and a 2.6 percent rise compared to September last year, despite persistent unemployment).
According to economist Soso Archvadze, even a one-percent increase means tens of thousands of new jobs and an overall growth in salaries and improvement of the livelihoods of around 30,000 to 40,000 Georgians.
Also, the number of low-income earners has decreased.
As official statistics show, the share of people earning less than 600 lari per month declined to 12.5 percent in September, one percentage point lower than in August and three points lower than a year earlier. Simultaneously, the share of high-income earners, those making 2,400 lari or more, reached 33.6 percent, up half a point from August and 5.6 points from last September.
Nevertheless, economist Merab Janiashvili says that the information technology sector is the area that has grown sharply in recent years, particularly due to the increase of the number of foreigners working in Georgia (Russians, Belarusians, and Ukrainians).
According to him, 200 to 300 percent growth in the IT sector has certainly boosted the economy, but at the same time, many of these workers don’t pay taxes and contribute little in the way of social payments.
As Janiashvili also added, rising food prices and high levels of emigration are still the reasons of concern, despite Georgia’s overall strong growth rate. According to him, the impact of job growth depends on which sectors expand and which contract.
For instance, the increase in agriculture, where wages are lowest, makes a limited overall effect. In the opposite way, the increase in construction makes a clearly beneficial multiplier effect across the economy.
Nevertheless, inflation makes average wages appear higher than before. According to the economist, five years ago, 600 lari was considered a decent salary, but now its real value has fallen sharply. It is too early to speak about the improvement of the situation only because of the fact that fewer people earn under 600 lari. Many of them are nearly where they were before.
Economic growth above the regional average and an inflow of foreign professionals have made Georgia’s job market improve steadily since the pandemic years. According to analysts, the overall decline in low-income earners and the expansion of the middle-income group could signify a shift toward a more stable economy.
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