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     is set to create 600 new jobs over time. In the initial phase, €10mn will be invested, providing employment for 200 people.
President of the Council of Foreign Investors Viktor Mizo expressed confidence that layoffs are unlikely in North Macedonia’s companies involved in automotive parts production. However, he acknowledged today that some may experience a reduction in workload due to the economic situation in Germany and Europe more broadly.
Mizo believes the automotive industry will ultimately overcome the crisis, though he noted that a decline in profits is a realistic expectation.
In mid-December 2024, Hungarian telecommunications company 4iG formally applied to North Macedonia’s Agency for Electronic Communications (AEK) for a frequency to launch a third telecom operator. The company plans to offer both mobile and fixed telephony services to citizens and businesses, marking a significant expansion into the Western Balkans.
Pál Zarandi, 4iG's director of mobile and 5G strategies, confirmed that the company plans to build its own network, rather than acquiring an existing operator, and will invest approximately €100mn in infrastructure development over the next decade.
Other key sectors driving the economy include ICT, agribusiness and food processing, textiles and clothing, the wine industry, and the electric-metal industry.
 5.9 Real Economy – Romania
    5.9.1 Retail
Romania’s retail sales in the 12 months to October 2024 increased by 7.4% y/y, accelerating from 1.6% y/y in 2023. Non-food sales surged by 12.7% y/y witnessing robust consumer confidence. Rising real incomes and lower interest rates following decreasing inflation encouraged consumer lending and thus retail sales.
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