Officials of the German company Lisa Dräxlmaier GmbH and Minister for Attraction of Foreign Investments Vele Samak signed Monday an agreement to launch the largest German Greenfield investment in Macedonia.

The company plans to build a plant for production of vehicle parts in Kavadarci. The investment project totals EUR 35 million. Dräxlmaier Group plans to invest EUR 17 million and to create 4.000 jobs in the first five years. Their local partner from Macedonia will invest in construction of plant at an area of 52.000m2, which will be put to use to DDM Dräxlmaier Manufacturing Macedonia through long-term leasing.

PM Nikola Gruevski, Deputy PMs Zoran Stavreski and Vladimir Pesevski respectively attended the agreement signing ceremony.

"This is the Macedonian Government's response to the question how it has been dealing with the economic crisis. We cannot surpass the effects and correct the economy in Europe or what the political leaders there do or fail to do, but we can bring in foreign investments as much as possible, negotiate, demonstrate professionalism, readiness and flexibility for cooperation," Pesevski said.

He hailed the investor's decision as a correct one, saying that Macedonia is the right investment destination and the new player at the investment market, in Europe and across the globe.

Minister Samak said that every new project brings new challenges and a chance for new future.

Karl Wallner, board member of the Germany-based Dräxlmaier Group, said the Government's support and the conditions it offered for doing business in the country were crucial for the company's decision to invest in Macedonia.

Dräxlmaier has its branches in the US, China, Serbia, Moldova and now in Macedonia.

The name Dräxlmaier stands for automotive innovation, the company says on its web-site. Whether BMW, Mercedes-Benz or Porsche, Audi, Bugatti or VW, Jaguar or Cadillac: the company's expertise as a reliable, independent partner to the world’s most renowned automobile manufacturers is evident in every vehicle we contribute to.

By using living, natural materials such as leather, wood, and stone, while integrating electrical features, the unique marriage of form and function allows the company to deliver elegant functionally integrated interior components, cockpits, wiring harness and electrical management systems which set new automotive industry standards.