Hi-Tech – First Macedonian Company to Invest in a Free Zone
Hi-Tech is the first Macedonian company that will invest in a plant in the Skopje 1 free zone. The €20 million investment is expected to open 300 jobs with 100 people being employed in the first year, according to Hi-Tech’s CEO, Savo Stankovic.
The investment, he stated, is the second most important event in the company’s 36-year existence because it paves the way for competition at a European level in our own country, without any limitations.
“So far we have been developing a technological product at one level, whereas this is something new, meaning our product will be upgraded with newly-added value, thus enabling more of our products to be exported from Macedonia, more jobs and better promotion of Macedonian technical staff in European markets,” said Stankovic.
Viktor Mizo, Director of the Free Zones Authority, said Hi-Tech today officially affirmed its decision to invest in the new company Hi-Tech Assembly Center, owned by the existing company Hi-Tech.
“This company is proof that the benefits offered in the industrial zones to foreign companies, i.e. companies founded with foreign capital, are equally applicable to domestic companies as well,” stated Mizo.
Hi-Tech, he added, will maintain the production process at its current location in the Skopje village of Oreshani as the new company is expected to expand its operations and increase exports of its products.
The Macedonian company is set to start building its plant in the Skopje 1 free zone in early March and is expected to be inaugurated in the third quarter of 2016.
Hi-Tech manufactures products that are used in the military, automotive, and airline industries with clients such as Continental, Bosch, Siemens, Philips, etc.