CAGATAY KABLO STARTS PRODUCTION IN THE SKOPJE 1 FREE ZONE
In the Skopje 1 free zone, Cagatay Kablo launched their new plant for the production of wiring harness cables primarily geared towards the automotive industry. The investment is worth €4M, with 80 employees, and the company expects to ultimately invest a total of €6M and employ 300 people. . This plant will also supply Belgium’s bus manufacturer, Van Hool, that is located in the Skopje 2 free zone.
A cornerstone was laid last year in September. In January of this year, the Government decided to grant state aid in the form of tax incentives to the Turkish company, explaining that the decision is in accordance with the Law on TIDZ and the measures from the “Economic Growth Plan”, which were promoted by the Government of the Republic of Macedonia.
The maximum amount of state aid in terms of the agreement is envisaged to be up to 50% of the investment and is in accordance with the legal regulations of the Republic of Macedonia and European regulation for transparency in the granting of state aid.
Prime Minister Zoran Zaev, Deputy Prime Minister for Economic Affairs, Kocho Angjushev, Minister of Economy, Kreshnik Bektesi, CEO of Macedonia’s Free Zones, Aleksandar Mladenovski, and Cagatay Kablo’s owner, Ahmet Koroglu, attended the launching of the new plant.