A beneficiary of Macedonia’s foreign investment push, Condevo will be situated in the Technological-Industrial Development Zone (TIDZ) in Stip, which is in Eastern Macedonia. In initiating their operations in the country, Condevo chose Target Communications as its local business consultant.

The extraordinary business environment in Macedonia has attracted yet another foreign investment, this time from Italy. Boiler component manufacturer Condevo decided to invest in a manufacturing plant in Stip’s TIDZ, opening 280 new job opportunities for managers, engineers and qualified manufacturing workers. As a company that prides itself as innovative and research-oriented, Condevo arrived in Macedonia with two new patents, looking to manufacture the necessary components and develop an export-focused manufacturing facility. This offers a unique chance for domestic experts to observe and learn from the Italian manufacturer, helping to strengthen Macedonia’s knowledge base. 

Condevo has also pledged to contribute to the local community by cooperating with local schools and universities to organize trainings, internships, and even award scholarships for students that qualify. 

The bridge between the Macedonian government and Condevo’s CEO Raffaele Giannoni was made during an FDI presentation in Palermo, Italy. From there, Giannoni and Minister for Foreign Investments Jerry Naumoff engaged in advanced discussions regarding a possible investment, culminating in an agreement for the government to aid Condevo’s arrival in Macedonia. The investment was made official in March 2015, and is worth an estimated 50 million EUR.