Page 104 - bne IntelliNews SE Outlook Regions 2024

5.6.4 Major Sectors & Companies
The automotive components sector is an important part of North Macedonia’s economy as the country already has a dozen factories producing car parts.
It was announced in June 2023, that the unit of German car parts maker Kostal in North Macedonia is set to embark on a new investment project in the city of Ohrid worth €50mn. The project aims to establish a production facility for chargers designed for electric and hybrid vehicles.
German electric car manufacturer Next.e.GO Mobile, which is set to build a factory in North Macedonia, has raised around €68mn in fixed-rate debt financing from the asset management company Western Asset, it was announced in July 2023.
Despite the announcement made by North Macedonia's government in 2022 regarding the start of the construction of Next.e.GO Mobile's electric vehicle plant in the northwestern city of Tetovo, there has been relatively little visible progress thus far. The recently secured debt financing will enable Next.e.GO Mobile to expedite its corporate strategy, with a specific emphasis on the production of the e.wave X and global expansion.
Other important sectors include ICT, agribusiness and food processing, textile and clothing, the wine industry and the electric-metal industry.
5.7 Real economy - Moldova
5.7.1 Retail
Moldova has reported robust retail sales, but dwindling private
consumption.
Moldova’s statistics bureau reported that the retail sales index (not including car sales) surged by 9.3% y/y in Q3, 2023 after it lost momentum to 2.3% y/y in Q2 – a meagre advance compared to the
104 SE Outlook 2024 www.intellinews.com