The Ministry of Economy and Labour welcomes the start of the new investment of the company CAVO Automotive in the Tetovo Technological and Industrial Development Zone, which represents a significant contribution to the economic development of the country and additional confirmation of the trust of foreign investors in North Macedonia.
The investment, which according to announcements will reach a value of EUR21 million, will enable the creation of around 550 new jobs and will contribute to the further development of the automotive industry, one of the most dynamic and export-oriented sectors in the world.
It is particularly significant that the investment will be realized in TIDZ Tetovo – the only technological-industrial development zone in the country that operates under the public-private partnership model and which is under the jurisdiction of the Ministry of Economy and Labour. This model once again confirms that the partnership between the state and the private sector creates conditions for the realization of large investments that directly contribute to local and national economic development.
CAVO Automotive is a renowned multinational company with decades of experience in the automotive industry and production facilities in several countries. The decision to transfer part of the production currently conducted in Turkey and Slovakia to North Macedonia is a strong indicator of confidence in the domestic economy, qualified workforce and favorable business climate.
On the occasion of the announcement of the investment, the Minister of Economy and Labour, Besar Durmishi, stressed that the Government and the Ministry remain strongly committed to creating conditions for new investments and sustainable economic growth.
"This investment is another confirmation that North Macedonia is becoming an increasingly attractive destination for companies that bring modern technologies, new production facilities and quality jobs. CAVO Automotive decision to invest in Tetovo is a clear signal that efforts to improve the business climate and create a stable and predictable investment environment are yielding concrete results.
As the Ministry of Economy and Labour, we remain committed to supporting investments that create added value, generate exports and create well-paid jobs. The new 550 jobs will mean new opportunities for employment, professional development and acquisition of modern knowledge and skills. Our goal is clear – more investments, a stronger economy and a better standard of living for citizens,” said the Minister of Economy and Labour, Besar Durmishi.
The results that TIDZ Tetovo is already achieving further confirm the importance of the zone for regional and national economic development. During 2025, companies in the zone realized production worth over MKD6.4 billion, exported products and services worth almost MKD9 billion and provided jobs for 1.845 people.
As the Minister pointed out, these indicators position TIDZ Tetovo as a significant driver of economic activity in the Polog region and an important contributor to Macedonian exports.
The Ministry of Economy and Labor remains committed to attracting new investments and creating conditions for the development of existing investors, in order to ensure continued economic growth, greater competitiveness of the domestic economy and a better standard of living for citizens.
Minister Durmishi expressed his gratitude to all institutions involved in the process of realizing this investment, as well as to the company CAVO Automotive for the trust it places in North Macedonia as its new investment destination.
