We are witnessing accelerated economic growth and a true construction boom across the region, particularly in Serbia. Construction companies are expanding rapidly today, as for the first time there is predictability, which is a prerequisite for efficient planning and growth. Investment plans have been clearly defined, giving us confidence and enabling us to think ahead, invest resources, and prepare for future projects.
This was stated by Stojan Vujko, CEO of Millennium Team, while participating in the regional construction and infrastructure conference “Trebinje 2026: Building the Region”.
Speaking on the panel entitled “Investments Driving the Region”, he emphasized that connectivity and cooperation among neighbouring countries are essential prerequisites for economic progress. Together with numerous conference participants, experts, and representatives of regional government institutions, Vujko shared his experience in delivering some of the most complex projects currently being executed in this part of Europe.
“People are always at the heart of everything; the world relies on them. In construction, every segment is equally important. A high-quality design is required before a construction site can even be opened. During the construction phase itself, clear focus, a skilled workforce, and experienced engineers are indispensable. In addition, a partnership-based relationship between us, as contractors, and investors is essential to ensure that everything envisioned is delivered on time and to the highest quality standards,” said Vujko.
As an example, the CEO of Millennium Team highlighted the EXPO project, describing it as unique in every respect.
“It is a project with a non-negotiable completion deadline, something almost unprecedented in our history. When it comes to the deadline, there can be no deviations and no excuses, regardless of the challenges and difficulties encountered. Whatever happens, the deadline cannot be extended by a single day. We signed the contract in October 2024, and all major works will be completed by September. It is extremely demanding and challenging, but these are precisely the types of challenges from which we learn the most,” Vujko emphasized.
He added that the engagement of foreign labour is likely to continue, although this does not apply to highly qualified professionals. By working on major projects, domestic engineers continue to develop their expertise and, as he pointed out, are already demonstrating outstanding knowledge and management capabilities. Future efforts will focus on supervisory and managerial personnel, from site supervisors upwards, as it is essential to strengthen leadership and management skills within the workforce.
Speaking about cooperation with major international companies for which Millennium Team acts as the main subcontractor on projects in Serbia, such as PowerChina, Vujko explained that these relationships are based on genuine partnership.
“There is no international company that can successfully operate in a foreign market without cooperation with local companies that understand the regulations and standards and provide strong support during project execution. We build partnership-based relationships through back-to-back contracts, which imply the same level of responsibility as that borne by the main contractor,” said the CEO of Millennium Team.
Vujko stressed that every segment is equally important in the execution of complex capital projects, from planning through to final delivery.
“We know how to build, but that alone is not enough when it comes to large and complex projects. You need an excellent legal team to ensure that every contractual detail is clearly defined. High-quality financial planning is equally important to ensure the uninterrupted progress of works. Naturally, a strong project team is also essential. For example, most facilities at EXPO, as well as on other projects undertaken by Millennium Team, are delivered under the design-and-build model in accordance with the FIDIC Yellow Book. Given the requirements and expectations of investors, there is inevitably a balance to be struck between optimizing a project to generate profit and ensuring investor satisfaction. This is where our knowledge and experience play a crucial role, but an honest and partnership-based relationship with investors is equally important, as there can be no progress without it,” he said.
Vujko expressed confidence that a bright future lies ahead for Millennium Team.
“The projects we are delivering provide us with valuable references and create the conditions necessary for exporting the knowledge and experience we have gained to international markets. This will be one of our key strategic focuses in the years ahead,” said the CEO of Millennium Team.
The “Trebinje 2026: Building the Region” conference, with Millennium Team among its sponsors, brought together key stakeholders from the fields of infrastructure, energy, urban development, and investment, with the aim of fostering dialogue on the future of the region. The event gathered 40 speakers, representatives of 100 companies and institutions, and approximately 400 participants, including government officials and leading construction industry representatives from across the region. Panel discussions focused on major projects, modern technologies, and sustainable development.
