The new investment of Cavo Automotive which will be realized within the TIDZ Tetovo was presented
Director Goce Dimovski, together with Prime Minister Hristijan Mickoski and the Minister of Economy and Labor, Besar Durmisi, today presented the new investment of the Turkish company “Cavo Otomotiv”, which will be implemented within the framework of the Tetovo Industrial Development Zone and is another confirmation of the trust of foreign investors in the Macedonian economy and the favorable business climate in the country.
This is a significant investment project that will contribute to the creation of new jobs, increasing industrial production and improving the export potential of the country. The company specializes in the automotive industry and through this investment plans to establish modern production facilities with high technological and development potential.
“Cavo Otomotiv is planning a serious investment cycle in Macedonia. According to the submitted business plan, the amount of the investment will reach 20 million euros with the employment of more than 400 people. Cavo Otomotiv’s plan with this investment project is to create annual exports that would reach 45 million euros per year.” – said Dimovski.
He emphasized that this investment project represents a direct contribution to the growth of production, the increase in exports and the improvement of the overall competitiveness of the Macedonian economy. “This clearly indicates that the company has ambitious plans for growth and development in Macedonia. This is a carefully planned investment project with a long-term perspective, which will be implemented in phases and will create increasingly greater economic effects in the years to come.” – he said.
In his address, Dimovski expressed his conviction that this investment represents only the beginning of a successful and long-term partnership, which will create new value for the Macedonian economy. He emphasized that active work continues, with continuous dedication and with a clear goal, to position Macedonia as recognizable on the map for foreign direct investments.