April 18 (SeeNews) - Taiwan-headquartered electronic components maker Yageo Corporation will invest over 205 million euro ($225 million) in North Macedonia in the next ten years as part of plans to expand its operations in Europe, it said on Tuesday.
The projected investment includes new production plants in the technological industrial development zones (TIDZ) in the cities of Skopje and Stip, Yageo said in a press release.
The opening of over 3,900 new jobs is planned under the investment agreement signed in Taipei between the management of Yageo and the director of TIDZ, Jovan Despotovski.
"With strategic geographical position, stable monetary and favorable tax environment, and highly qualified workforce with competitive labor costs, North Macedonia is an ideal location for Yageo Group to continue to expand its business scale in Europe," said Pierre Chen, the founder and chairman of Yageo.
US-based electronic components maker Kemet Corporation, a subsidiary of Yageo, already operates two plants and one R&D centre in North Macedonia.
Founded in 1977, Yageo is a global electronic parts manufacturer of a range of products, including resistors, capacitors, inductors, transformers, relays, antennas, wireless components and circuit protection components. The company employs 40,000 staff in 29 sales offices, 49 plants and 20 R&D centres in 24 countries.
($ = 0.91115 euro)