Director Dejan Pavleski had a working meeting with the Japanese Ambassador H.E. Hironori Sawada. The Ambassador of Japan conveyed the expressed interest of Japanese companies for investing in North Macedonia. The investment potentials of the country and the export potentials of Macedonian companies were presented at the meeting.
In the coming period, there will be activities to promote trade cooperation, for which there is great potential, primarily for the export of Macedonian products to the Japanese market, but also for activities to encourage Japanese companies to invest in our country.
Export of ICT services increased for 10,7% and reached more than €241M in 2020:
· €215M export of computer services,
· €16M export of telecommunications services and
· €10.8M export of information services.
Compared to the previous 5 years, exports increased by 61%. The growth is significantly higher in the part of computer services, which in the past five years has increased by 131%.
The largest export markets for Macedonian IT companies are the United States, Germany, Serbia, Bulgaria and Albania.
The positive experience of working here and the availability of a skilled workforce is the reason why they decided to expand their business here.
Nick’s Balkans, part of the Swedish brand Nick’s, announced the expansion of their production plant in Bitola, and new brownfield investment in R&D. The investment is worth of €4M, which will create 150 new jobs. It is planned to be realized and to start working by the end of the year.
Nick’s Balkans is present in North Macedonia with production of healthy sweet products since 2017, where the entire production is intended for export. The existing production capacity in Bitola has 60 employees and is a beneficiary of the Government “Financial Support Program”.
Invest North Macedonia continues to maintain contacts and take care for investors in order to achieve mutual benefit, growth and development of companies as well as of the Macedonian economy.
For more information about company, please visit link: https://nicks.se
North Macedonia credit rating BB- with stable outlook has been confirmed.
Projected successful economic recovery and stable economic growth by overcoming the shocks caused by the crisis caused by the Covid-19 pandemic.
Stable credit rating is a positive signal for investors and a clear indicator of their confidence in the Government policies. Increased industrial production in December 2020 is a good indicator of economic recovery.
Forecasts for 2021:
Growth drivers: increasing export activity, public consumption and private consumption
Projection for economic growth is 3.6%
The Republic of North Macedonia is integrated in the global supply chains, especially in the automotive industry. The recovery of the automotive industry, as well as the economies of our largest trading partners like Germany, will contribute to the recovery of our economy as well.
The budget deficit will be reduced to 4.9% .The Government will continue to strengthen the fiscal framework, pointing to the new Law on Budgets, which provides for the introduction of fiscal rules and the establishment of the Fiscal Council.
The Director of Invest North Macedonia, Dejan Pavleski had a meeting with the Plant Manager of ARC Automotive, Svetislav Smilkov. Current operations and challenges in this period of crisis that companies are facing were discussed at the meeting. The initiative of Invest North Macedonia to create a systemic solution to address issues affecting the work of investors was presented.
“Investor care is one of our priorities. A positive example of a successful company is ARC Automotive, which is currently working on installing a new production line, which will increase the company’s productivity and competitiveness. This will be an opportunity to create new jobs, retain existing workers, increase production and increase export in the automotive industry”, said Pavleski.
The American company ARC Automotive is a manufacturer that produces a complete program of car inflators for car airbags, located in TIDZ 1 Skopje. The total investment worth is €15M. The company is working on installing a new line for production of inflators, and after installation the total investment will exceeded to over €20M. The company currently employs over 400 people. The entire production of the company is intended for export, mainly for the market in Europe and America.
The total production capacity of the company is 2 to 4 million inflators per year. Last year 2.1M inflators were produced.
