Skopje, 30 July 2021 (MIA) – Turkish company Teknopanel is set to invest EUR 16 million in the construction of a new production facility at Skopje’s technological-industrial development zone (TIDZ). The decision was made at a meeting between Free Zones Authority director Jovan Despotovski and company management. Teknopanel is one of Turkey’s largest exporters. It’s ranked among Turkey’s Top 500 Industrial Enterprises and has four factories in the country. It’s investment in North Macedonia is Teknopanel’s first investment abroad. “According to the investment plan and financial projections, Teknopanel is set to create 120 new jobs. Moreover, export projections for the next decade exceed EUR 150 million. North Macedonia’s budget is set to make EUR 5 million from salary contributions alone, as well as EUR 2.5 million from taxes,” the Free Zones Authority said, adding that potential investors are obliged to submit a ten-year investment plan, based on which the country customizes its participation in the investment. Since the beginning of the year, economic zones have attracted investments worth EUR 105 million. In the first six months of 2021, they registered the highest level of economic activity since their establishment. Talks are currently underway with 30 enterprises over investments worth EUR 400 million. “This figures are a result of the TIDZ’s and the government’s new concept of measures and activities, aiming to attract investments. If the current trend prevails, Despotovski has expressed expectations for establishment of 14,000 new jobs by 2024,” the Free Zones Authority underlined.