North Macedonia has exceeded €1bn in direct foreign investments for the first time in its history, Deputy Prime Minister and Transport Minister Aleksandar Nikoloski announced on February 19. He expressed confidence that this upward trend will continue throughout 2025.

This expansion reflects North Macedonia’s growing appeal as a destination for high-tech manufacturing and sustainable energy solutions.

According to data from the country’s statistics office released in December 2024, net foreign direct investment (FDI) in North Macedonia reached €838.2mn in the first nine months of 2024, a 140% increase compared to the €348.4mn recorded during the same period in 2023.

“I can proudly say, based on figures from the Statistical Office, that last year will be a record year for attracting foreign investments in terms of their value. We will exceed €1bn for the first time in Macedonia’s history, and I expect the same trend to continue this year,” Nikoloski said during a visit to car parts manufacturer Kostal in Ohrid, according to a government statement.

He highlighted that the investment surge is not solely due to new investors but also stems from the expansion of existing businesses, a development the government aims to further encourage. 

One such example is the increased capacity of Kostal. At the end of 2024, Kostal launched the third phase of its investment cycle in North Macedonia, aimed at producing chargers for electric and hybrid vehicles.