Exports from the free industrial zones setting new highs

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Exports from the free industrial zones have grown to 429 million EUR in the first three months of 2016, said Viktor Mizo, director of the TIRZ institution, that manages the industrial zones. Mizo added that March was a record month so far, with 165 million EUR in exports.

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“That was 20 million more than the earlier monthly record. We have seen production growing in all the zones, including those in Skopje and Stip, as well the start of activities in Kicevo, Ohrid and Prilep”, Mizo said at a press conference.

The zones offer pre-built infrastructure, a range of tax cuts and regulatory assistance to companies that are willing to hire a significant number of new workers and introduce advanced technology for making value added products. In the past nine years, a number of German, American, Italian and other companies were drawn to these zones, setting up production of car parts or other products. The industrial zones currently cover about 30 percent of total Macedonian exports.

“The increase in exports is expected to grow. We were hoping for an increase of 10 percent, in the first three months, and registered growth of 33 percent. Imports for the needs of the zones were at 310 million EUr leading to a trade surplus of 120 million”, Mizo said.