Skopje, 3 September 2023 (MIA) – Deputy PM for Economic Affairs Fatmir Bytyqi and Free Zones Authority Director Jovan Despotovski are traveling to Frankfurt on Sunday, to sign an investment agreement with German battery manufacturer and innovation leader for high-tech battery systems BMZ.  

The agreement will be signed on Monday at the company's headquarters by CEO and Founder of BMZ GmbH Sven Bauer and Free Zones Authority Director Despotovski alongside Deputy PM Bytyqi and BMZ Macedonia General Manager Jelica Ivanovska. 

Head of the Delegation of German Industry and Commerce (AHK) in North Macedonia, Antje Wandelt, announced in May 2023 that a company for high-tech battery systems will be the next German investment in the country, noting that it will start off as a brownfield site, and then invest in a new capacity.

"It is a company that manufactures batteries for mopeds, scooters and other light products from the industry. Seeing that they want to start production as soon as possible, the investment will be brownfield, which means that they will take over an existing company that has a ready-made facility, and then go for greenfield investment," said Wandelt. 

In Frankfurt, Bytyqi and Despotovski will participate in a round table with German businessmen, to present North Macedonia's investment potential.

According to a survey on the business climate presented by the Delegation of German Industry and Commerce in North Macedonia (AHK) and the Macedonian-German Economic Association in June 2023, 80 percent of German companies would invest in North Macedonia again. 

The survey, conducted in period January-March, included 45 out of the total 150 members of the organization, with 80 percent of those surveyed saying that they wanted to expand investments and increase the number of job positions in North Macedonia. 

Germany is the biggest trading partner of North Macedonia according to the total external trade volume. In 2022, it reached EUR 4.8 billion euros.

Photo: MIA archive