Skopje, 26 May 2023 (MIA) - In the past weeks we have received a number of inquiries from German companies that are interested in the Macedonian market for investments, further trade, Antje Wandelt, head of Delegation of German Industry and Commerce in North Macedonia (AHK) said.

"In 2020, Kostal, a German investment in Ohrid, doubled its investments and number of employees, and hired 600 new people. The same is the case of ODW Elektrik, also in Ohrid, that doubled its investment. Kiel Macedonia factory in Zhelino, Tetovo that make bus and train seats will build a new factory and double their production. At the moment the biggest German investment in North Macedonia is Gerresheimer, near Skopje, with 180 jobs and EUR 126 million investment, which does not produce parts for the automotive industry, unlike the majority of other investors, but medical devices," Wandelt told reporters on Friday.

Wandelt pointed out that last week in Tetovo a new German investment was presented by a Macedonian family who have worked and opened up a business in Germany. 

"Their German company opened the Multipark Izairi investment in Tetovo that will produce copper cables, and in the future, copper pipes," said Wandelt.

When asked how the technical recession in Germany in the last quarter can affect the economy of North Macedonia and countries in the region which have a number of German investments, Wandelt said that the economic situation is difficult to predict.

"It is difficult to give predictions about the economic situation, but what I can see and conclude is that as an AHK in the past weeks we have got a number of inquiries from German companies that are interested in the Macedonian market to invest into, and as a future trade," Wandelt added.

She pointed out that there is a significant growth in the economic exchange between the two countries, adding that in 2020 the trade exchange was EUR 3.9 million, and in 2022 it reached almost EUR 5 billion, or EUR 4.8 billion. ssh/sk/

Photo: MIA