Yageo Corp., the world’s third-largest supplier of multilayer ceramic capacitors, has decided to invest 205 million euros (225 million dollars) in North Macedonia over the next 10 years.
The company signed an agreement with the North Macedonian government to build new factories in technological industrial development zones (TIDZ) in Skopje and Stip, as part of the company’s efforts to expand globally.
The agreement was signed by the Yageo management team and Jovan Despotovski, head of TIDZ, last week. In the signing ceremony, North Macedonian PM Dimitar Kovačevski welcomed the Taiwanese company.
“I want to express my sincere respect to Yageo, a global company of high technology, who is making such a significant investment in North Macedonia. It’s a confirmation of the good economic policies and stable investment climate we are creating in the country,” said Kovačevski.
In response, Yageo CEO Pierre Chen said that the company will have a long-term partnership with North Macedonia.
“With a strategic geographic position, stable monetary environment and favorable taxing environment, as well as highly qualified labor work with competitive work costs, North Macedonia is an ideal place for Yageo Group, to continue expanding its business in Europe,” said Chen.
According to Yageo, this will be the largest Greenfield investment projects in North Macedonia, since its independence. It is expected to create some 3,900 new jobs in the country.
