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US company Telamon to invest EUR 11m in Macedonia

Monitoring Desk

SKOPJE: United States company Telamon signed Friday an agreement for realization of its investment in Macedonia worth EUR 11 million. The company will employee 600 people, producing electric cables for the automotive industry. Minister for Foreign Investments Zorica Apostolska and Telamon director Tom Puza signed the agreement, in the attendance of Prime Minister Zoran Zaev and Vice Premier for Economic Affairs Koco Angjusev.

“We remain committed to creating a favorable business environment, so that Macedonia is recognized as a stable long-term business destination,” said PM Zaev.

He added that the invitation for NATO accession will further enhance Macedonia’s position as a stable business destination.

“Citizens will support the country’s EU and NATO accession because they are aware that benefits are enormous, with the objective of a better life for all,” stressed Zaev. Vice Premier Angjusev said that Telamon’s choice to expand its production in Macedonia shows that the country’s policies for FDI support are competitive.

“These companies recognize Macedonia as a place to further develop their businesses. This is an incentive for us to develop our economic policies, demonstrating that we are on the right track to implement our ideas,” added Angjusev.

Minister Apostolska said the agreement’s signing is a confirmation of the Government’s successful economic policies regarding foreign investments.

Telamon will initially invest EUR 4 million and employ 300 people, whereas the long-term investment would reach EUR 11 million and 600 jobs. Puza said about 50 people would be employed by the year-end, while the first products should be delivered by the fall. “We did a close examination of different countries in Central and Eastern Europe. We selected a few to visit, including Macedonia, and we were pleasantly surprised by what we found here – warm and inviting group of people interested in developing their country and actively participating part in business,” said Puza.

 

 

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