Tetovo, 23 November 2022 (MIA) – Representatives of German company Kiel and the head of the Directorate for Technological Industrial Development Zones (DTIDZ) signed an agreement Wednesday to launch the construction of additional production capacity in TIDZ Tetovo. The agreement was signed by the head of Kiel International, Jürgen Mill, the general manager of Kiel Macedonia, Christian Schrandt, and DTIDZ Head Jovan Despotovski. “We are proud of this additional investment in North Macedonia. We will increase our production and operations. Our investment amounts to around 9 million euro, and will create 150 additional jobs in the next couple of years. That will be a total of 300 jobs at Kiel in Macedonia,” said Schrandt. Mill underlined that this investment highlights the importance of North Macedonia for their future plans. “When we began five years ago we were not sure how the future would develop. However, today we are proud that we have found highly motivated colleagues here with whom we were able to establish an efficient production of passenger seats,” said Mill. Kiel is the first company to expand its production capacity in one of the technological industrial development zones, which Despotovski said is being done under very clear and precise criteria. “Kiel is introducing a new line of production in the zone, while also committing itself to maintaining all current employees and additionally hiring 150 more workers from this region. It has committed itself to continue paying all obligations to the budget of the country and it will not use either customs or tax benefits in the zones. This means that Kiel has chosen to use the services of the country related to the land, infrastructure and easier access to services of the municipal and central authorities, which is a significant step forward. This is an important message for all domestic companies and I am inviting them all to seriously consider and begin using this model as well,” said DTIDZ Head Jovan Despotovski. Prime Minister Dimitar Kovachevski said that foreign investments in North Macedonia are growing, and the companies are increasing their production, exports and employees. “It is a great pleasure that amid the greatest economic crisis, North Macedonia is still receiving new investments by leading producers such as the Kiel international group. Highly technological companies are investing in the country and are adding additional value to our economy. For us this is an additional confirmation that we are offering a stable and predictable business environment so that the companies can realize their long-term plans,” said Kovachevski. German Ambassador to North Macedonia, Anke Holstein, spoke about the importance of new investments. “The reliable climate of cooperation with the Macedonian Government is an important prerequisite for the quality of North Macedonia as an investment location. Together we will continue to nurture it, so that all those who are already here can continue working successfully, while also promoting North Macedonia as a good destination for investments,” said Holstein. According to government representatives there are currently around 30-35 active clients in TIDZ. German investors make up 15-20 percent of the total investments in TIDZ, and with the latest investment Germany is becoming the largest investor, with a threefold increase in participation, i.e, almost half of investments. ad/sk/