A new foreign investment worth about 20 million euros will be realized in the Technological-Industrial Development Zone in Tetovo, and it is expected that almost 500 new jobs will be created, announced Prime Minister Hristijan Mickoski and Minister of Economy and Labor Besar Durmishi.
It is an investment of the Turkish company “Javo Automotive”, which works in the automotive industry and manufactures safety systems, mechanisms and control cables for the world’s leading car manufacturers.
According to Mickoski, the project will start as a brownfield investment with the lease of an existing building of 8,000 square meters, and by 2028 the production facilities will be expanded to 21,000 square meters.
– By 2030, the company plans to invest almost 21 million euros. The entire production of control cables from Turkey and Slovakia will be realized in Tetovo, which is a confirmation of the investor’s confidence in the Macedonian economy, the workforce and the business climate – the Prime Minister emphasized.
The company plans annual exports of around 45 million euros, which will further contribute to the growth of industrial production and export performance of the country.
Minister Durmishi considered that the investment is another confirmation that Macedonia is becoming more and more attractive for companies that bring modern technologies, new production facilities and quality jobs.
– In addition to the creation of new jobs, the project will enable the transfer of technologies, increased exports and additional added value for the Macedonian economy. After more than a year of negotiations, today we are sending a clear message that Macedonia remains an attractive destination for foreign investors – said Durmishi.
“Javo Automotive” is a multinational company with operations in Turkey, Canada, Germany and Slovakiaand with the new investment in Tetovo, it is expanding its production presence in the region.
