Italian company "TeknoHose", registered in Macedonia as "Vitek Macedonia", laid Monday the cornerstone of its second facility in technological-industrial zone Skopje 1 in Bunardzik, manufacturing high pressure reinforced rubber hoses.

"Company 'TeknoHose' is the first foreign investor that has decided to invest again in our country after only one year. This is a big recommendation for all other potential investors", said Prime Minister Nikola Gruevski at the ceremony.

According to him, this clearly showed the satisfaction of foreign investors with the business environment in Macedonia.

"'Vitek Macedonia' will double its capacities and triple its production. This will result in increase of own exports, but also Macedonia's exports", added Gruevski.

He stressed the new investment was estimated at EUR 11 million, with the company planning to increase the number of employees by 150 when the new plant is completed.

"Macedonia has the capacity to receive many other companies and foreign investors. We are continually working on improvement of the doing business platform, we are investing in the economic zones, road and railway infrastructure, education and competitiveness of our staff etc. This is why Macedonia is already noted as interesting destination at the map of foreign investors", underlined Gruevski.

Vice Premier for Economic Affairs Vladimir Pesevski said TeknoHose example demonstrated that foreign investors have recognized Macedonia as a place to build a plant and find quality workforce.

Italian Ambassador to Macedonia Ernesto Massimino Bellelli said Italian investors felt at home in Macedonia, not only because of the geographic proximity, but also due to the similar mentality.

"Free zones offer an exceptional opportunity to investors and represent the main reason why companies come to Macedonia", he added.

"Vitek Macedonia" opened last year its first capacity, worth EUR 5 million and opened 50 jobs. It manufactures high pressure reinforced rubber hoses, used in construction, automotive industry. Products are distributed at markets in Southeast Europe and Russia.

Company "TeknoHose" is a member of Italy's Vitillo Group. It has an annual turnover of EUR 36 million, owning six plants in Italy with about 200 employees.