A new investment by Cavo Otomotiv company in the Tetovo free industrial zone (TIDZ), expected to create almost 500 jobs, was announced Tuesday by Macedonian Prime Minister Hristijan Mickoski and Minister of Economy and Labor Besar Durmishi. The investment, worth EUR 20-21 million, is yet another confirmation of Macedonia’s attractiveness as a destination for foreign investors and their trust in our economy, says Mickoski.
“This is a brownfield investment, which will start with the lease of an existing facility of 8,000 square meters, and the capacities will be expanded to 21,000 square meters by 2028. The company plans to invest up to EUR 21 million by 2030. 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, our workforce and the business climate,” said PM Mickoski.
The company’s annual planned export is EUR 45 million.
According to Macedonian Minister of Economy and Labor Besar Durmishi, the investment is a confirmation that Macedonia is becoming increasingly attractive for companies that bring modern technologies, new production capacities and quality jobs. The company’s decision to transfer part of the production to our country, is a strong signal of confidence in the Macedonian economy, noted Minister Durmishi.
