Frankfurt, 4 September 2023 (MIA) - The investment of German battery manufacturer and innovation leader for high-tech battery systems BMZ comes at the right time to send a clear message - that after the Covid-19 pandemic and war in Ukraine, foreign investors see North Macedonia as a destination for future manufacturing, Deputy PM for Economic Affairs Fatmyr Bytyqi told MIA on Monday.

After signing the agreement for an EUR 64.9 million investment in the technological-industrial development zone Skopje 2, Deputy PM Bytyqi said that German companies are prepared to invest and that they already see North Macedonia as part of EU.

According to him, companies from other countries, not just German ones, find their place in North Macedonia because the country offers a competitive work force and a competitive business environment.

"First, I believe that this investment is a sign of the good cooperation we have with Germany. This investment is one of the 200 German companies that are to enter our market, and it arrived at the right time to send a clear message that North Macedonia is part of the value chain, after all the turmoil due to the Covid pandemic and the war in Ukraine, as well as a destination for their future manufacturing plans. Second, despite the fact that the German economy is currently in recession, this proves that German companies are prepared to invest, but that they also see the future and thus recognize our country as part of Europe and EU, which is why they continue to invest. This is a highly technological investment for battery manufacturing and a new beginning for our country to move the value chain in the automotive sector and the production of electric vehicles, including manufacturing other types of vehicles that use batteries," Bytyqi said.

He informed that the Macedonian delegation in Frankfurt will meet with other companies on Tuesday.

"The meeting was organized by the Delegation of German Industry and Commerce  in North Macedonia. I see this as a positive sign, companies from all over Europe, and not just German ones, manage to find their place in North Macedonia as we offer a competitive work force and business environment. I think that they all realize that having a value chain in Asia and other more distant countries only complicates production and reduces competitiveness. Bringing the value chain to Europe increases competitiveness of the European economy that we are also a part of," Bytyqi stressed.

BMZ GmbH CEO and founder Sven Bauer and Free Zones Authority (FEZ) Director Jovan Despotovski signed the agreement, which is to create 775 new jobs, on Monday afternoon in Frankfurt, in attendance with Deputy PM for Economic Affairs Fatmyr Bytyqi and BMZ Macedonia General Manager Jelica Ivanovska. ssh/ik/

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