German company "ODW Elektrik" opened its new plant for production of electronic components in the automotive industry in technological-industrial development zone Ohrid/Struga on Friday.
The greenfield investment worth EUR 3 million includes seven production lines and 220 employees.
ODW Elektrik Managing Director Martin Ehret said EUR 1,7 million have been invested in equipment.
"There will be about 250 employees by the end of 2017, rising to 300 at the end of 2018. This demonstrates ODW's dynamics, but also the necessity for qualified staff from Macedonia. As investors we wish good cooperation with all state institutions, in order to fully utilize the opportunities available here", said Ehret.
Vice Premier for Economic Affairs Koco Angjusev wished the company success on behalf of the Government, announcing increased support for investors deciding to expand their business in Macedonia.
"Companies such as ODW Elektrik are welcome in Macedonia and will enjoy the required support. I encourage ODW and other foreign investors to continue to invest in Macedonia, having the Government's support in all segments", added Angjusev.
Referring to the fact that many foreign companies are producing cables for the automotive industry, the Vice Premier stressed conditions might be created for opening a facility that would manufacture raw materials for the needs of the existing capacities.
"This is the idea of the Government, to ensure increased cooperation of domestic companies, so that they are part of the procurement chain, thus creating larger economic benefit", added Angjusev.
