ISTANBUL - Turkish shopping market Migros gets ready for making investment in Macedonia following its investments in Russia, Azerbaijan, Kazakhstan and Bulgaria.
Macedonian Prime Minister Branko Crvenkovski and Koc Holding's Honourary President and Migros Executive Board President Rahmi Koc signed the memorandum of understanding in Skopje for undertaking Ramstore investment in Macedonia.
Ramstore investment in Skopje will be the biggest Turkish investment in Macedonia and in its retail market.
The investment which also carries importance for improving the friendship and commercial relations between the two countries is expected to contribute to economic activities in Macedonia and to reduce the prices.
In Ramstrome shopping centre which is planned to have one hypermarket and 80 shops, there will be four cinema halls, and restaurants. The shopping centre which will have three floors, will be built in an area of 25,000 square meters. It will have both open and closed parking lots.
Ramstore is expected to open at the end of 2004 or in 2005.
Addressing the ceremony, Macedonian Prime Minister Crvenkovski said that Ramstore would be the beginning of a productive cooperation between the two countries.
Stressing that Koc Holding, a very well known and strong company's undertaking this investment was very important, Crvenkovski said that the investment would also give messages to other investors.
Rahmi Koc said in his part that investments in the region were very important, adding that Ramstores had an investment worth of 320 million dollars in four countries to date.
(Öª) 12.12.2003