German Auto Industry Interested in Investing in Macedonia

Successful story of Knauf Radika in Macedonia attracts other German investors. According to the Macedonian-German Economic Association, Knauf Radika is an excellent example. It is a large and successful company with a potential that needs to be used.
According to announcements, another two large German automobile industries are interested in investing in Macedonia, especially because of very favourable business climate.
Knauf Radika, whose products are made in accordance with global standards and demanded across the entire world, continues with its investments with a goal to raise productivity, Todor Delovski, head of Knauf for the Western Balkans, says.

Greeks often cross Macedonian border to shop

Macedonia is becoming a spending paradise not just for ethnic Macedonian from Greece, but also for Greeks. Inhabitants of Greek towns situated near the border with Macedonia go often to the neighbouring country, where they leave EUR 4 million a month, show the data of the Kukus Chamber of Commerce.
Customers from Kukus make one-day trips to Skopje in search of cheaper medical services, wardrobe and cheaper gasoline, explains the head of the trade department at the Kukus Chamber of Commerce. Many Greeks also visit casinos in Macedonia.
This trend has been present for ten years and has become even more conspicuous due to the crisis in Greece and great price differences, which reach up to 50 percent for certain products. The Greek government wants to solve the problem since it affects its local economy.

Independence Day observed through number of events

On occasion of the 20. anniversary of Macedonia's independence, the Parliament will hold Wednesday a formal session.
A solemn academy will be held in the Macedonian Opera and Ballet in the evening, addressed by President Gjorge Ivanov.Moreover, Prime Minister Nikola Gruevski hosts a meeting for all former PMs - Branko Crvenkovski, Ljubco Georgievski, Hari Kostov and Vlado Buckovski.
The meeting is of symbolic character, sending message of the nation's unity, the Government has said.

Johnson Controls starts new Euro 20 mln investment in Shtip

"Johnson Controls" - the US auto interiors manufacturer - is launching its second investment in Macedonia in amount of approximately Euro 20 million. Contracts are due to be signed in the next two to three weeks, while the construction of a plant located in the Stip Technological and Industrial Zone will start in mid-October.

Premier Nikola Gruevski, who met Friday with Macedonia's project manager Steven Meylemans, said country's good business conditions have been acknowledged since the company decided to invest in Macedonia for the second time. "This investment will be a serious contribution to the Macedonian economy," the PM said.

"It is particularly significant that the company, which is multinational and famous around the world, has decided to invest in Macedonia for the second time. International investors seeking places to invest will notice this in no time. When a company decides to launch a second investment in the same country it means that it is satisfied with the conditions, communication with authorities as well as with other factors necessary for a good business climate. The plant, despite opening new jobs, is expected to boost Macedonia's export and to improve the living standards of local residents," PM Gruevski stated.

He added that the company's decision was seen as a recognition of Government's efforts made in recent years to advance business conditions and to attract investors. In 2007 and 2008, the PM noted, an important investment wave began when many companies had either started building or reserved a location for construction after signing a cooperation memorandum.

"Unfortunately, the global economic crisis halted most of the constructions, not only in Macedonia, but also in other countries as well. As the global economic crisis is lessening, the interest for building production plants, including in Macedonia, is mounting. Almost two months following the June elections, this is the fourth company to announce start of construction activities in Macedonia," PM Gruevski said after the meeting.

He noted that the Government will make efforts to enable the company to launch the construction of a plant in Stip in mid-October.

Meylemans said Macedonia was picked as a business destination, because it is competitive and first and foremost due to the support and professionalism offered by domestic institutions.

The plant will focus on producing car seat covers. Offering 1.400 jobs, it is expected to start its operations within a year to serve its European clients.

Indian Company Building Two Plants in Macedonia

Indian Samvardhana Motherson Group (SMG) will lay Wednesday a cornerstone for construction of two plants at the Technological and Industrial Development Zone Skopje 1.

Earlier, a memorandum of understanding and agreements for lease of land and for allocating state aid with regard to the two investments are set to be signed with the company.

The memo of understanding will be signed by SMG chairman Vivek Chaand Sehgal and Viktor Mizo - director of the Macedonian Agency for Foreign Investments and Export Promotion.

PM Nikola Gruevski, who is expected to meet with representatives of the Indian company, will also attend the signing of the contracts and the cornerstone laying ceremony.

Burger King Coming to Macedonia

TAB Foods, the master franchisee operating over 500 chain restaurants in Turkey for Burger King, Popeye’s, Sbarro and Arby’s, is set to open several restaurants in Macedonia, MINA has learned. 

The first Burger King restaurant is set to open on August 30 at Skopje airport “Alexander the Great”. 

“We will open our first restaurant in Skopje Airport on Aug. 30, and three more Burger King restaurants will open in Macedonia before the end of the year,” said Caner Dikici, general manager of TAB Foods.