24 November 2011

Austrian company to launch 1 million euro investment in Vinica

Austria's Texport company in 2012 will invest one million euros for construction of a factory manufacturing workwear. The investor unveiled its final decision on Tuesday at the Macedonian-Austrian business forum held in Vienna. About 150 companies interested in investing in Macedonia attended the event.
The plant will be located in Vinica and is expected to open jobs for 200 people. Production is planned to be launched by the end of 2012, MIA reports from Vienna. Company's managing director Otmar Schneider said that land had been purchased and that project's realisation would be conducted in the winter. This is the third investment in Macedonia by Austria's Texport.
"We've started in 1999 in Skopje with 60 employees, now there are 200... The Kocani plant also employs 200 workers and the new investment is expected to open 200 jobs," Schneider.
He praised the working conditions and workforce in Macedonia, saying it was qualified for production of quality garments. Company's products are mainly exported throughout Europe as well as in South America and Saudi Arabia.Vice PM for Economic Affairs, Vladimir Pesevski said the investment was a proof that Government's strategy to attract investments was prolific. "Forums serve for establishing initial contacts, for triggering company interest and for wrapping up negotiations with companies that have already decided to invest in Macedonia," Pesevski stated.
The Vice PM said that Government's team had held talks with other firms in Vienna and expressed hopes that such positive news would be also announced in the future.
Macedonia's investment potentials were presented before Austrian businessmen, namely in manufacturing car components, the energy sector, IT, textile, agriculture...
Austria is one of the leading investors in Macedonia with an influx of foreign investments of 370 million euros between 1997 and 2010 and takes the prime spot according to the influx of foreign direct investments from 2005 to 2010. This year, the influx of investments stands at 10 million euros. Austrian capital has been invested in telecommunications, banking sector, insurance and other areas.

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