Sino-Turkish fashion maker Weibo Group announced on July 5 plans to build Europe's largest textile industrial zone in Northeast Macedonia, away from its Guangzhou home. The news came as the prime minister of Macedonia visited Guangzhou.
According to Selcuk Alperen, CEO of Weibo Group, the industrial zone will be 400,000 sq. m in size, and will create 5,000 jobs for Macedonia. He said the company invested in Macedonia because it is an important logistics hub to Balkan Peninsula and many European countries which has a market of 600 million people, and it has an excellent environment for investment.
In Weibo Group's welcome banquet, Nikola Gruevski, prime minister of Macedonia, introduced the advantages of investing in his country. He said Macedonia is very competitive in the costs of energy, taxation, manpower and daily operation. The average income tax rate is 10 percent. It also has high quality labor population attributed to its strong education system. The government appropriates 6 – 7 percent annually of the country's GDP to education, and 97 percent of its population has received higher education.
Selcuk Alperen addresses the audience on the welcome banquet.
According to Gruevski, the Macedonian Government will provide infrastructure and staff training for the industrial zone invested by Weibo Group, along with taxation benefits for the first 10 years. The land cost will also be very low.
"Many world-renowned companies invest in Macedonia now. We have free trade agreements with all European countries, allowing all Macedonian products to be traded in Europe without tax," the prime minister said.
Weibo Group is a premium fashion manufacturer jointly founded and operated by Chinese and Turkish with a history of over 10 years. Headquartered in Guangzhou, it has offices in Turkey, Germany and the United States.