Italy’s industrial group Vitillo officially inaugurated Monday its second plant in the Skopje industrial zone – an investment estimated at €10 million that is expected to open 100 jobs.

Vitek Macedonia CEO Antonio Vitillo said the company was planning to launch a new investment next year, the third one in Macedonia, totaling its overall investment to €30 million and hiring over 300 people. It is an increase by six times compared to the initial investment suggesting Vitillo company has acknowledged the favorable conditions offered in Macedonia.

“These figures uphold our decision to invest in Macedonia, the country in which we believe and where we have made friends that have made us feel at home,” stated Vitillo.

The Italian group, he added, reached a decision to invest for the second time in the country owing to its positive experience so far, but first and foremost, due to the long-term sustainability of the Macedonian government’s goals.

Deputy PM in charge of economic affairs Vladimir Pesevski said Vitillo’s new investment was ‘yet another confirmation of the excellent cooperation fostered by the government with foreign investors.’ Evidently, the investment cycle in Macedonia is as strong as ever, according to him. Two to three investments have been launched every week in the past couple of months.

“The companies Johnson Controls and Van Hool announced last week they would open new plants each in addition to the existing ones, where close to 2,000 people will be hired. Taking into consideration the investments announced in the past two months, namely Accomplast in Prilep, Xtrade and German Electro-Mechatronic System, Technoplast, HiTech, Capcon, etc, the number of new jobs is expected to rise to 5,000, while total investments will exceed €160 million,” noted Pesevski.

The Deputy PM also mentioned the investments set to be kicked off in the region of Polog, including Ohrid, Kicevo, Stip and Probistip that are expected to open additional 7,000 jobs.

“The growing number of investments in such a short period of time is a proof that we are heading towards a successful year, a record-breaking one in terms of the number of investments,” stated Deputy PM Pesevski.

Viktor Mizo, Director of the directorate of industrial zones, said that Vitillo’s new investment had demonstrated that the Skopje technological and development zone had been reaching slowly but surely its potential and purpose – ‘to serve as a first-class industrial complex where investors will introduce new technologies, reduce the unemployment rate, contribute to boosting export rate and put Macedonia on the global investment map.’

According to Italian Ambassador Ernesto Belleli, Vitillo’s second investment is a proof of the trust bestowed in Macedonia by Italian companies. Three Italian companies are currently operating in the Skopje industrial zone, he added.

Vitillo Group, which is present in Macedonia since 2011, produces high-pressure hydraulic fittings and armored rubber hoses. The products manufactured in Macedonia are exported in Europe, the US and Gulf countries.

In its initial phase, Vitillo invested €5 million and opened 50 jobs in Macedonia.

Deputy PM and Finance Minister Zoran Stavreski and VMRO-DPMNE Nikola Gruevski were also present at the opening of the new plant.