Construction of Shakhterm’s factory has begun, an initial investment of 25 million euros and 200 jobs
The laying of the cornerstone today marked the start of the Turkish company investment for the production of heaters and resistors for white technique and electrical appliances « Shakhterm » in the Technological Industrial Development Zone (TIDZ) – Skopje.
« The investment in the first phase will be 25m euros with 200 new jobs, while the plan is to have a second phase where the total value of this investment will amount to 50m euros and the number of employees is planned to be over 500, » said Prime Minister Hristijan Mickoski.
He assessed that this is a project that is developing the economy and confirming the stability and progress of our country, thus contributing to the strengthening of the Macedonian industry and export. He also emphasized that the latest economic indicators are encouraging.
– Industrial production in March 2025 increased by 5.2 percent annually compared to March 2024. Foreign direct investment in 2024 reached 1,255 billion euros, making Macedonia a country with the largest number of foreign investment per capita in Europe. Inflation in March is below 3 percent, 2.7 percent, and in April it is 2.6 percent annually. Salaries rise from 9 to 10 percent annually, which is a sign that we are fighting poverty and increasing the standard of living of our citizens. In the first quarter of 2025 we have increased credit activity of businesses and citizens of 13 percent which is 6 times more than the one within the European Union. With all these economic indicators, Macedonia is well on its way to the fastest growing economies in Europe – said Mickoski.
An investment that will build an area of over 13,000 square meters includes a Center for Research and Development, and will be the first production capacity of Shakhterm outside Turkey.
Turkish Ambassador Fatih Ulusoy has expressed satisfaction with the start of Shakhterm’s investment, which produces heaters and resistors for the world’s leading brands of white and electrical appliances, noting that Turkish companies have an important role in the country’s development providing employment for 10,000 people.
-And we encourage Turkish businessmen to invest in this country and we will continue to do so. Shakhterm, whose factory today is laid the foundations, will take its place among the companies that proudly represent our country in Northern Macedonia and increase our companies’ contribution to the economy of Northern Macedonia – said Ulusoy.
We have a common will, he added, the trade exchange that approached $ 1 billion to increase to $ 2 billion. They are expected to begin as soon as possible to start updating the 1999 Free Trade Agreement, which they believe will be of benefit to achieving this goal.
-We held a business forum between Turkey-Northern Macedonia with the participation of our Trade Minister, and yesterday we held the 9th Balkan Economic Summit with the presence of the Deputy Prime Minister we believe that these events will contribute to further promotion of economic and trade cooperation between our countries. With many companies and organizations working in the country, especially in banking, education, culture, health, defense industry, industrial production, renewable energy sources, tourism, construction, agriculture, textiles and clothing, manufacturing industry, retail and in many areas of Turkey and Turkey.
Faruk Shahin, president and founder of Shakhterm, introduced the company, pointing out that 60 percent of its production exports it. Shakhterm has more than 40 years of experience in designing and producing heating systems for white technology and household appliances. Shakhterm is part of the leading five companies in this business globally, with more than half of the annual production for markets outside Turkey. The list of clients is made up of world -renowned white manufacturers and household appliances such as Virpul, Amika, Gorenje, Beko and Candy.
