The German company Magnetec Components SRL, which forms part of the German concern Magnetec-Gesellschaft für Magnettechnologie mbH, started operating at the Balti Free Economic Zone. By now the German company managed to create over 70 jobs in Moldova, investing a total of about US$5 million, IPN reports.

In the inaugural event, Minister of Economy and Infrastructure Sergiu Railean said the Republic of Moldova has investment potential that should be realized despite all the challenges. “I’m glad every time a new investor decides to expand the business in the Republic of Moldova. We are making effort to create appropriate conditions for foreign investors and the fact that these choose our country as a destination for business confirms that we are successful,” stated the minister.

Magnetec-Gesellschaft für Magnettechnologie mbH is a renowned company that manufactures electrical components. Among its clients are such companies as Siemens, Aptiv, Bosch and also such automotive companies as Volkswagen, Daimler and Ford.