Foreign businesses praise economic conditions in Bulgaria

Representatives of German businesses who already operate in Bulgaria praised the economic conditions in the country. In Munich, they talked about their experience regarding working in Bulgaria in front of some 50 of their colleagues from German companies. In the Bavarian capital, Minister Delian Dobrev opened a conference organised by the Bulgarian Investment Agency and the Financial Times on a project dedicated to the investment environment in the country, funded by OP Competitiveness.

Only 12 months have passed between our decision to invest in Bulgaria and the launch of the factory, and, during that time, we received all kind of support from the Bulgarian authorities, former CFO of Ferrero Bulgaria, Ludwig Kohl, told participants in the meeting. He reminded of the beginning of their activity in Bulgaria, when the Bulgarian Lev was pegged to the German Mark. We realised that there was a stable currency here and, therefore, we could not expect any problems, Kohl concluded.

For us, the most important factor in choosing Bulgaria as an investment destination were the people, Lufthansa Technik Sofia's CEO, Ruediger Hoeben-Stoermer, explained. According to him, the company's work on each aircraft is very precise and specific, and the presence of good universities and a highly-skilled workforce in the country predetermined their choice of investment destination.

When you pay only 10% tax, it is easier to allocate resources for additional education and training of staff, Andreas Schäfer, Deputy Managing Director of the German-Bulgarian Chamber of Industry and Commerce added.

Tascheva & Partner's Managing Partner Nelly Tascheva pointed out the security foreign investment enjoys under Bulgarian legislation. "According to Bulgarian legislation, each and every investment in the country enjoys equal protection in Bulgaria, whether made by a Bulgarian or a foreign company," she added. Tascheva emphasised the opportunity for foreign individuals and companies to buy land in Bulgaria as one of the main investment advantages in the country.

Low taxes in Bulgaria, a well-educated workforce and competitive labour costs, as well as sustainable economic indicators are among our main advantages. This was the answer of Minister of Economy, Energy and Tourism Delian Dobrev to the question why Bulgaria is the perfect choice for foreign investors. In front of German businesses, he pointed out the Government's efforts to attract capital in several priority sectors which manufacture products with high value added. These include electrical and electronic engineering, outsourcing, the chemical industry, mechanical engineering and others.

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