PM Zoran Zaev, joined by the Free Zones Authority director Jovan Despotovski met with CEO of Italy’s Vittillo Group Antonio Vitillo and director of Vitek Macedonia company Ciriaco Lo Conte.
Italy’s Vitillo Group, which is present in the country in the Skopje 1 free zone as Vitek Macedonia since 2011, announced at the meeting its plans to invest another EUR 10 million within the third phase of the investment, which is almost one hundred percent increase of the previous investments of over EUR 11 million, realized in the first and second phase, government said in a press release.
The representatives of Vitillo Group, leader in the hydraulics market, announced to invest in construction and in new machines intended for the needs of the automotive and other industries. The output, manufactured in the country is sold in Europe, the Gulf states and the US.
The company also plans to increase the jobs by one third of the existing number of employees, who receive above-average salaries in the country and received 16 percent increase last year during a pandemic, the press release read.
PM Zaev welcomed the new investment and voiced expectations that official investment agreement will be signed soon.
“We are firmly focused on job creation, economic growth. We have proven to be a friendly country in the region that creates policies of friendship and we believe that this affects the interest of investing here. We welcome your decision for the new investment in the Republic of North Macedonia,” Zaev said.
During the meeting, Free Zones Authority director Despotovski presented details of the new investment and state support for its implementation. As it was pointed out, this investment is part of the new approach in the work of the Directorate for Technological Industrial Development Zones with analysis, but also significantly shorter deadlines for preparation and signing of agreements. Zaev and the representatives of the Italian company agreed that this approach will mean new quality, greater security and more foreign investment in the Republic of North Macedonia, the press release read.
