German battery manufacturer BMZ has announced that it will open a new production site in Skopje. The investment is worth €65 million and is expected to create 775 new jobs.
The agreement on BMZ’s expansion plans in Skopje was signed on 4 September in Germany by representatives of the Macedonian government and BMZ. According to a press release, the company will initially occupy a building in the Skopje area but plans to build a new facility in the Skopje Technological Industrial Development Zone 2. 7 companies, mainly in the automotive industry, operate in the zone.
BMZ Skopje will focus on the mass production of battery products. The construction of the plant is expected to start by the end of 2023 and be completed within 2 years at the latest. The new BMZ factory is expected to exceed an annual export value of EUR 360 million, thus establishing a solid and sustainable economic foundation necessary for the country’s long-term growth and development. The decision to locate the new production plant in Skopje was driven by BMZ’s exceptional growth potential and the simultaneous shortage of skilled workers in Germany and Poland.
With the recent agreement, the Macedonian government has successfully concluded an investment cycle worth more than €950 million over the last two and a half years. Continued efforts have already led to the creation of new job opportunities, with the total number expected to exceed 12,500 jobs.
Last year, according to Investment Monitor, North Macedonia was even ranked 2nd in the inward FDI performance index in terms of the country’s level of inward investment relative to its GDP.
Source: SPIRIT Slovenija
