investbulgaria agency - chinagoabroad › sites › v2 › files › uploaded › attachments ›...

InvestBulgaria Agency (IBA), 31 Aksakov Str., Sofia 1000

tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320

e-mail: [email protected], http://www.investbg.government.bg

InvestBulgaria Agency

March 2014

issue 3 (6), year 2

Monthly Electronic Publication

InvestBulgaria Agency

Interview

Economic News - Business, Investments, Trade

Analysis of Sector

Investment Opportunities of Municipality

Chambers of Commerce in Bulgaria

Macroeconomic Indicators

Upcoming Events

INVESTBULGARIA AGENCY

The budget of OP "Transport and Transport Infrastructure" is almost EUR 1.9 billion and we will seek balance in investments between North and South Bulgaria

Danail Papazov

Minister of Transport, Information Technology and Communications

He began his professional career in 1982 as an assistant captain in the Bulgarian Navy.

From 1983 to 1989 he was head of the Operational Department in Port of Varna SPJSC.

He worked as a deputy manager of Saratoga LTD in the period 1991 - 1994

He was also deputy director of Bulunion Bulgaria, Ro-Ro complex Varna - Novorossiysk between 1994 and 1997

Between 1997 and 2001 he was Senior assistant captain and superintendent in Ahrenigel LTD, Hamburg, Germany.

From 2001 to 2013 he was executive director and member of the board of Port of Varna SPJSC.

On May 29, 2013 he was elected Minister of Transport, Information Technologies and Communications by the 42th National Assembly.

He graduated MA in "Navigation" with professional qualification "Engineer - Navigator" at the Naval Academy Vaptsarov - Varna.

Setting priorities in the transport sector in the new programming period was carried out taking into account the European and national policies. On the basis of all discussions and negotiations with the European Commission we have drafted the Operational Programme "Transport and Transport Infrastructure."

The program should be financed by the Cohesion Fund and the European Regional Development Fund, whose total budget for the program is a little over EUR 1.6 billion. With the national co-financing budget of the Operational Programme "Transport and Transport Infrastructure" it reachs almost EUR 1.9 billion. About 70% of these funds or over EUR 1.3 billion will be distributed equally to the construction of rail and road infrastructure. With the remaining funds we will invest in improving intermodality for passengers and cargo, and the development of sustainable urban transport through the construction of Sofia subway and intermodal terminal in Ruse. Over EUR 77 million from the program budget will be invested in development of information systems in shipping and civil aviation. Our goal is to seek balance in investment between North and South Bulgaria.

http://www.investbg.government.bg/

of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320


Issue 3 (6)/ March 2013 InvestBulgaria Agency

It is vital in the programming period 2014 – 2020 to ensure continuity and logical coherence of investments from programming period 2007 - 2013, this will ensure the completion of the directions in which we have already invested and will make it possible to build the core network and cross-border links in the Trans-European Networks (TEN). In the next programming period implementation of projects that contribute to the effective connectivity of the transport network, the elimination of "bottlenecks" in it, reducing congestion levels, noise and pollution, and improvement of safety and promoting the use of environmental modes should be continued once again.

We work hard on the preparation of new rail and road projects. We plan to use the funds for the railway infrastructure in improving the lines Ruse - Varna, Burgas - Sindel, Plovdiv - Burgas and Sofia - Septemvri. Furthermore, through the Connecting Europe Facility (CEF) we will apply for rehabilitation of railway sections Vidin - Medkovets and Sofia - Dragoman. Our goal is to be able to complete the major transport routes Romanian-Greek-Turkish borders and to improve transport links between the main ports of Burgas, Varna and Ruse.

In the road sector, we are to complete Lot 3 of highway Struma, as depending on the rest of the financial resources under OP "Transport and Transport Infrastructure", the direction Vidin- Botevgrad will be financed as well. Priority projects are Hemus highway and the tunnel under the Shipka passage. Under the CEF we plan to apply for the construction of highway Kalotina-Sofia.

For the improvement and maintenance of existing transport infrastructure and the completion of the missing one we rely on concessions. We make every effort to motivate the private sector and to create favorable conditions to attract investors. Currently the Ministry of Transport, Information Technology and Communications conducted preparatory actions for concession of Varna railway station, port terminals Vidin - Center, Ruse - East and Zimovik - Ruse and airports Plovdiv, Balchik, Sofia.

The need for investments in all sectors is huge and they can only be provided through funding from the European Union. So all of us, who manage and implement projects with public funds, must invest available resources wisely and as efficiently as possible. Our goal is to develop transport and turn it into a more competitive, technological and efficient sector that meets the high demands of users for security, quality and reliability.


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



EVENTS ORGANIZED BY INVESTBULGARIA AGENCY

Press conference organized by InvestBulgaria Agency

On the 12th of March in Grand hotel Sofia a press conference where results of InvestBulgaria Agency’s project called “Information campaign among Bulgarians abroad aimed at promotion of investment climate and return of our immigrants and students in Bulgaria” that was complete in cooperation with Employment agency took place.

Realized campaigns were part of IBA’s grand project, named “Promotion of advantages for investing in Bulgaria”, completed with financial support of operational programme Development of the competitiveness of the Bulgarian economy. Overall goal of the project is to attract direct foreign investments and to make economic effect of them explicit. Another aim of the project is improvement of business environment in Bulgaria for making investment decisions.

Within the campaigns 13 promotional events were organized in eleven countries among bigger students and other types of compact organizations of Bulgarians abroad.

The aim of the very project, assigned to IBA is assuring conditions for incessant and proactive inclusion of Bulgarian economic and educationally active diaspora abroad in the process of attracting potential private investors and in development of positive image of Bulgaria.

In each event IBA’s experts, representative of Employment Agency and other Bulgarian authorities took part. Basic focus of these events was necessity of attracting new investments in Bulgaria, opportunities for work in the country and search of specialists from foreign companies that step on the Bulgarian market. Except for students, managers, ICT pros, doctors, economists, bank workers and other specialist were present on the meeting. They stood out as a significant potential of people who are interested in the investment process in Bulgaria.

Employment agency took part in the IBA’s initiative as it sent its experts in seven European countries. At the meetings Bulgarian students got acquainted with the possibility to recognize EA as a long-term and loyal partner in realization on the labor market.

To that end [email protected] was developed. It is an email where youths who are still studying or have already graduated may send their CVs. They are directed to specially adapted employment intermediaries who respond to students’ emails individually and connect with the young Bulgarians in suitable for them manner, including via social networks. Within the initiative “Work for me”, Employment Agency’s employees administer a Facebook profile to the same name that let unstoppable exchange of data and propositions. Collected by employment intermediaries’ data is used for preparation of a personal account for every student that is to be given to big employers on Bulgarian labor market, who are interested in hiring young and ambitious people with international education. Students’ profiles will be presented before such companies. The ultimate goal is as many young people as possible to start work that meets their competencies, education and their perceptions of career development.

http://www.investbg.government.bg/mailto:[email protected]

of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



MEDIA FOR INVESTBULGARIA AGENCY

Bulgaria invites Germans for Diamant plant

Programme for reindustrialization of Bulgaria includes measures for revival of concrete enterprises that have potential for development, but are operational currently, as well. This is what vice Prime Minister Daniela Bobeva explained at a meeting of representative of local business and local authorities in Razgrad. She has in person presented chances for revival of bankrupt glass and porcelain factory, based in Razgrad before six leading in silicate industry German companies. InvestBulgaria Agency has presented advantages for recurrent development of silicate industry in the town. There is available kaolin deposit near the town. In addition there are well-trained employees and industrial plot with developed infrastructure and railway link to the Danube, Bobeva added. The government wants to stop the practice for export of Bulgarian raw materials that can be processed in the country before being exported as products with low added value. “We have to think that we have children and grandchildren and to leave something for them, "said Bobeva. The government is negotiating hard with the World Bank in order to get support for recovery and construction of irrigation systems in agricultural regions. In that way we are to guarantee cultivation of fruits, vegetables and agricultural products that are to be processed in industrial facilities in the country. This is part of the measures for Bulgaria’s reindustrialization, Bobeva said.

paper.standartnews.com, 11.03.2014

Dragomir Stoynev: The cabinet is preparing changes in the Investment Promotion Act

“The government is taking steps to support foreign investors. Within two weeks the Council of Ministers will vote on changes to ease the bureaucratic procedures to those who wish to start a business in Bulgaria”, said at a meeting with business representatives in Plovdiv the Minister of Economy and Energy Dragomir Stoynev. Stoynev said that the role of the administration will be reduced through changes in the Investment Promotion Act. Until recently any foreign investor has to fill in approximately eight declarations, seven forms and to use the services of economic and financial advisers for preparation of all required papers. At present we considerably shortened the procedure-he/she has to fill in a single paper, containing his/her business plan that is achievable for the investor themselves. After that the potential investors get a certificate by the administration that he/she starts work on the projects. Of course this will take up ten days more, as opposed to three or four moths the period needed until recently for obtaining governmental decision. In that way the investor may immediately look for ways to develop their project. Minister Stoynev said that serious steps for reduction of administration’s role will be made even via amendments in the law for investment promotion. He added that despite the reported drop in foreign investment last year, at the end of the period they grew and thereby they were EUR 250 million more than in 2012.

bnr.bg, 17.03.2014


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



INTERVIEW

Svetoslav Mladenov

Executive Director of the InvestBulgaria Agency

Mr. Mladenov, how do you rate the information campaign among Bulgarians abroad in order to promote the investment climate and the return of our migrants and studying abroad Bulgarian students to Bulgaria?

Within just one month - in February this year were organized 13 information events held in 11 countries among the big student and other types of compact communities of Bulgarians in Madrid, Paris, London, Brussels, Amsterdam, Berlin, Tel Aviv, Vienna, Istanbul, Moscow, New York, Chicago and Boston. The campaign is part of the IBA project "Promoting the advantages of investing in Bulgaria" with the financial support of Operational Programme "Development of the Competitiveness of the Bulgarian Economy". The aim was to create

conditions for continued pro-active involvement of Bulgarian economic and educational active diaspora abroad in the process of attracting potential private investors in building a positive image of Bulgaria. In terms of informing the Bulgarians abroad for the economic climate in Bulgaria, examples of successful companies investing in the country, making participants familiar with the large amount of information from different statistical sources and the operational programs of the EU - the meetings were useful and successful. InvestBulgaria Agency (IBA) finds the presentations of expert teams successful, thanks to the great interest shown by the participants in the events.

For what purpose did the Employment Agency and various speakers join your project?

We invited the Employment Agency (EA) to send their experts in seven European capitals. They informed the participants in the events of their opportunities on the labor market. For this purpose was created email [email protected], where every young person who wants in-training or have completed their education, can send CV in the "Europass" format. Based on the information obtained is prepared personal profile of all interested individuals, which are later sent to various companies seeking qualified workers. The ultimate goal is as many young people that meets the competencies, education and their perceptions of career development to work.

At the outset of this initiative we created a website and a page on the social network Facebook, which can be found at: http://bulgariansabroad-iba.com. We continue to support them, answering various queries. Various speakers attended the events, besides experts from the InvestBulgaria Agency and the Employment Agency, who presented their successful business in Bulgaria.

What were the most frequently asked questions at the meetings?

Given that the majority of the audience in all cities consisted of young people - between 18 and 35 years, the main issues were how Bulgarians abroad to contact the Bulgarian employers, which sectors of our economy have increased, what are the opportunities for entrepreneurship in Bulgaria, areas with potential and opportunity for realization, how to apply for European projects. Interest was shown in which countries invest in Bulgaria and our key partners, what are the advantages of the country and how to use them to create a favorable investment climate, how IBA cooperates with the rest of the state administration. Of particular interest were the sectors outsourcing, production of components for the automotive industry, where new investments are expected. Doctors, economists, specialists in information and communication technologies have emerged as a significant potential of people who are interested in the investment process in Bulgaria and to the best use of our scientific potential.

http://www.investbg.government.bg/mailto:[email protected]://bulgariansabroad-iba.com/

of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



What was your main message to the Bulgarians abroad?

That Bulgaria intends to maintain intensive contacts and to assist in future career of those people, that we need the contribution of every citizen, regardless of where he/she is located. As long as they have the strength and inspiration to work for their country. We wanted to introduce them to the suitability of operational programs for starting a business internship in state institutions, with specific projects related to finding a job in Bulgaria. A large part of the foreign investors, mainly small and medium-sized companies say that there are many vacant niches for business.


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



Bulgaria to receive 15.7 bln euro from EU Over the next seven years from 2014 to 2020, Bulgaria will receive from the EU about EUR 15.7 billion, Deputy Prime Minister Zinaida Zlatanova said. Vice President Zlatanova presented before the media financial allocation of the fund under the operative programs. Among OPs, most money for the period 2014 - 2020 has been provided under the Transport and Transport Infrastructure program, a total of EUR 1 612 million. Under OP Environment EUR 1.494 billion is provided, while under the programme Regions in development EUR 1.351 billion is to be allocated. Funds under innovations and competitiveness are EUR 1.202 billion, while under OP Human resources EUR 895 million is planned. Under the new programme Science and education EUR 583 million is to be allocated, while program Good government will get EUR 285 million. Program for development of rural regions will be funded with EUR 2.339 billion.

bnr.bg

Bulgaria's exports to EU increase by 9% in 2013 Bulgarian exports to the EU increased by 9.1% in 2013 compared to the previous year and amounted to BGN 26.1 B, according to the National Statistical Institute preliminary data. Main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France, Belgium and Spain which accounted for 75.3% of the exports to the EU Member States. Bulgarian imports from the EU in 2013 grew by 3.1% compared to the previous year and added up to BGN 30.2B at Cost Insurance and Freight (CIF) prices. The largest amounts were reported for the goods imported from Germany, Italy, Romania, Greece, Spain and Hungary.

bnr.bg

Bulgaria is about to build eight new plants Eight new plants will become operational in the country by the end of the year, Minister of Economy and Energy Dragomir Stoynev said. There will be a new enterprise for the production of mechanical and electronic parts for cars and another for air conditioners. The other new plants plant will produce amplifiers, radio and television equipment, laser equipment, medical equipment and industrial gases. Bulgaria will also have a new plant for confectionery and a port in Silistra. Investors in these projects are already certified, said Stoynev. Thus there will be no administrative impediments for the projects’ completion.

darikfinance.bg

Five sectors in Bulgarian may turn into an engine for the economy Food processing, machine engineering and electronics, pharmacy, information and communication technologies (ICT) and cultural and

ECONOMIC NEWS - BUSINESS, INVESTMENTS, TRADE

ECONOMIC INDICATORS

Foreign Direct Investments

58.3

-400

-300

-200

-100

0

100

200

300

400

500

Source: BNB

BNB exchange rates

0.00

0.50

1.00

1.50

2.00

2.50

3.00

GBP/BGN USD/BGN EUR/BGN Source: BNB

Main Interest Rate 0.04% - 01.03.2014

0.04%

0.00%

0.01%

0.01%

0.02%

0.02%

0.03%

0.03%

0.04%

0.04%

0.05%

Source: BNB

Unemployment Rate 12.2% - February 2014

12.2%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

13.0%

Source: NSI


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



creative activities are the five sectors that have potential for development in Bulgaria. They bring great innovative potential and may turn into a main engine for Bulgarian economy. That is what Christian Filipov, a professional in development of private sector in Bulgarian section of the World Bank said during the conference ReACT Sofia: EU economy-crises and opportunities. Bulgaria has traditions in food processing, machine building and electronic. In ICT and pharmacy our country has a potential for development. Yet, qualification of employees has to be improved. Cultural and creative activities that touch upon professionals such as architects and advertisers have been developing so far without great support from the state. Development of the sector calls for new technologies and innovative products.

economy.bg

50 of the biggest Chinese companies meet Bulgarian business in Plovdiv Bulgarian-Chinese business forum Plovdiv- Shaoxing: Cooperation and investment 2014 will take place in Plovdiv on the 24th of March 2014. The opening is scheduled for 9:30 a.m. in conference hall Plovdiv in Novotel Plovdiv. The event is organized by Plovdiv municipality, Shaoxing municipality, Bulgarian-Chinese association of business development and Chinese council for promotion of international trade, Shaoxing branch. The forum is a consequence of the signed Memorandum of twinning between the cities of Plovdiv and Shenzhen, and signed a Memorandum of Understanding between CCPIT Shenzhen and BCABD. More than 50 of the most significant Chinese companies will take place in the forum. Large part of them are leaders in their sectors, not only in China but worldwide. Bulgarian companies will have the opportunity to have business meetings with concrete partners on the Chinese side.

plovdiv.bg

Municipalities will carry projects for nearly BGN 180 million Ministry of Investment Planning (MIP) granted permits for the construction of eight municipal infrastructure projects totaling BGN 179 400 000. Most of them are focused on construction of waste treatment plants and landfills in the following municipalities: Stambolijski, Nessebar, Kardzhali, Byala, Vidin, Kazanlak and Aksakovo

BSE-Sofia 02.2013-02.2014

Source: BSE-Sofia

BGREIT: 24.02.2014 – 25.03.2014

84

86

88

90

92

94

96

98

100

102

24.0

2

28.0

2

04.0

3

08.0

3

12.0

3

16.0

3

20.0

3

24.0

3

Source: Investor.bg

BGBX40: 24.02.2014 – 25.03.2014

114

116

118

120

122

124

126

24.0

2

28.0

2

04.0

3

08.0

3

12.0

3

16.0

3

20.0

3

24.0

3

Source: Investor.bg

SOFIX: 24.02.2014 – 25.03.2014

510

520

530

540

550

560

570

580

590

600

24.0

1

28.0

1

01.0

2

05.0

2

09.0

2

13.0

2

17.0

2

21.0

2

25.0

2

Source: Investor.bg

(Varna). Currently papers of three projects are being viewed – the one for reconstruction of the Sofia Central Railway Station, for the treatment plant in Vidin and the one, aimed at building water cycle in Nessebar. A new initiative by The MIP and the municipalities is about to start-projects are to be jointly presented at Western European exhibitions. They are developed for industrial zones, as municipality of Aytos has already joined the initiative. Experts from the MIP are preparing the criteria by which envisaged BGN 6.3 million from the State Fund for


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



Regional Development will be allocated. The idea is projects that are socially important for municipalities and associated with the urbanization of small municipalities to be promoted.

mip.government.bg, 04.03.2014

Bulgaria, Romania, Serbia trilateral PM meeting takes pace The prime ministers of Bulgaria, Romania and Serbia, Plamen Oresharski, Victor Ponta and Ivica Dacic agreed on closer cooperation in trilateral form that is to turn into a permanent forum. At a meeting in Ruse they discussed gas connection at the Balkans, common infrastructural projects and cooperation in border areas. After the meeting it became clear that all parties support Serbia for successful negotiations and sooner accession to the European Union. We declare that regional cooperation and dialogue, based on economic priority are important for us and both are utilized for overcoming of economic and social challenges. We support interconnector link between Bulgaria and Romania, situated between the cities of Ruse and Guergevo, as well as the gas ink between Bulgaria and Serbia, as essential elements of energy security in Europe. The sides commented on the options provided by the Danube Strategy for joint projects that give chance for deepening of European integration in the region. The three counties declared their readiness to work for development of regional links in the economic sphere in view of connecting the Danube and Black Sea. In a joint declaration, Oresharski, Ponta and Dacic expound their intentions for closer cooperation of the three countries.

bnr.bg, 07.03.2014

16,000 primary labor market jobs will be created in North Bulgaria A total of 16,000 new jobs will be created in Northern Bulgaria in 2014, according to the Regional Employment Office in the city of Lovech. The new employment opportunities will be available in the regions of Veliko Turnover, Gabrovo, Pleven and Lovech. The new jobs will be mainly on the primary labor market, explained the director of the Regional employment office Mincho Dikov.The trend from the start of the year is quite positive. Three times more jobs have been created since the beginning of the year, compared to the same period of 2013. Positions in question are in medium sized enterprises with employees from 10 to 15 people. They all keep the jobs they have, which is also a good trend, or increase number of positions by one or two.

bnr.bg, 10.03.2014

Bulgarian industrial production grew in January The preliminary data of the Bulgarian National Statistical Institute (NSI) showed that the Industrial Production Index, seasonally adjusted, increased by 1.4% in January 2014 as compared to December 2013. In January 2014 working day adjusted Industrial Production Index rose by 2.3% in comparison with the same month of 2013. In January 2014 as compared to December 2013, the seasonally adjusted Industrial Production Index increased in the electricity, gas, steam and air conditioning supply by 3.1% and in the manufacturing by 1.6%, while in the mining and quarrying industry a decrease by 3.0% was registered. The most significant increases of production in the manufacturing were registered in the manufacture of computer, electronic and optical products by 31.2%, in the manufacture of motor vehicles, trailers and

Selected Decisions of the Government

of the Republic of Bulgaria for the period 26.01.2014-19.03.2014 г.

19.03.2014 г.

The action plan under Jaspers in 2014 includes 15 projects

Approved preparations for the issuance of government securities in the international capital markets

Bulgaria opens consulate in DR Congo

The framework agreement for the implementation of the Bulgarian-Swiss program is proposed for ratification

The business will have a better legal framework for cooperation with India

Intergovernmental Bulgarian-Kazakh Commission for Economic Cooperation will hold a third session on 24-25 March in Sofia

12.03.2014 г.

Honduras opens consulate in Bulgaria

05.03.2014 г.

Bulgaria agrees cooperation with Georgia in the field of environmental protection

Council of Ministers adopted a strategy for the development of public administration

26.02.2014 г.

Bulgaria became a full member of EUMETSAT

Bulgaria and Romania to cooperate in agriculture

Approved issuance of three licenses for exploration of mineral resources

http://www.investbg.government.bg/http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5702&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5702&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5701&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5701&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5701&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5701&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5695&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5695&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5694&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5694&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5694&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5694&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5692&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5692&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5692&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5691&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5691&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5691&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5691&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5677&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5677&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5656&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5656&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5656&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5655&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5655&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5655&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5634&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5634&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5632&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5632&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5630&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5630&g=http://www.government.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0228&n=5630&g=

of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



In January 2014 as compared to December 2013, the seasonally adjusted Industrial Production Index increased in the electricity, gas, steam and air conditioning supply by 3.1% and in the manufacturing by 1.6%, while in the mining and quarrying industry a decrease by 3.0% was registered. The most significant increases of production in the manufacturing were registered in the manufacture of computer, electronic and optical products by 31.2%, in the manufacture of motor vehicles, trailers and semi-trailers by 27.8%, in the manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials by 15,2%, in the manufacture of basic metals by 14.3%, in the manufacture of other transport equipment by 13.9%, in the manufacture of fabricated metal products, except machinery and equipment by 13.5%. There was decrease in the manufacture of beverages by 5.3%, in the manufacture of chemicals and chemical products by 4.0%. On annual basis in January 2014 Industrial Production Index, calculated from working day adjusted data increased in the mining and quarrying industry by 18.0% and in the manufacturing by 1.7%, while in the electricity, gas, steam and air conditioning supply a decrease by 1.5% was seen.

nsi.bg, 10.03.2014

Bulgarian companies to participate in infrastructure projects in Iraq Iraq plans to build some 5 million homes and 3,000 schools in the next five years. Bulgarian companies are also expected to join the large-scale infrastructure projects in that country. Representatives in the country invited Bulgarian companies to take part in the planned by Bagdad hige infrastructural projects that are to be completed by 2017. It happened during the Bulgarian-Iraqi business forum in Sofia organized by the Bulgarian Small and Medium Enterprises Promotion Agency. Bulgaria attaches great importance on economic relations with Iraq, deputy minister of economy Krasin Dimitrov stated. He stressed on financial and economic stability, low budgetary deficit, favourable for investors tax regime and qualified workforce. Lower operating costs make us among the best places to do business, as investors use preferences for participation in industrial zones, he said.

sme.government.bg, 10.03.2014

Megatron EAD has invested new EUR 3.2 mln in Bulgaria Megatron EAD has opened new commercial and service center in the Bulgarian city Stara Zagora. It is the company’s biggest complex where EUR 3.2 million is invested. The plot on which is built the base is 15 decares. The complex has a spacious showroom, offices, large parts warehouse, storage room, allowing repair of 10 machines simultaneously, a conference hall with 120 seats.

megatron.bg, 11.03.2014

Gebrüder Weiss will invest EUR 8 mln in new distribution centre in Bulgaria A modern distribution centre in Elin Pelin will replace the former branch of Gebrüder Weiss in Sofia by the end of 2014. EUR 8 million is to be invested in the new site. The new construction will replace the existing site in Sofia and serve as a new distribution centre for the Balkans and Central Asia. The completion is scheduled for the end of 2014. The headcount will be increased from the current 60 to 90 employees once the new construction is completed. The area of the center will be 57 thousand square meters; while premises will have total area of 6 thousand square meters. The company has 28 subsidiaries around the world with regional centers in Europe and Eastern Europe, Asia and the US and a total of 6000 employees.

newsroom.gw-world.com, 13.03.2014

Only 3% of global retailers plan expansion in Bulgaria Bulgaria is the 46th most demanded for destination for expansion by global retailers. This is evident from the latest research of consulting company CBRE. Number 1 in the peculiar rating is Germany, as 40% of all surveyed retailers have plans to set up shop there. 3 % of all surveyed world retailers have shown interest in investing in Bulgaria. The research, named “How many active are retailers globally?” was conducted among more than 130 companies worldwide. Analyses show that Germany is the most demanded for country for investment in the world. If we are to look in data just from Europe, 70 % of all surveyed plan to open new stores namely there. The country is the second market in importance for American merchants. Globally France takes the second place (26%), followed by Great Britain (25%), Austria (22%) and China (22%)


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



on the fifth place. Switzerland, Belgium, Spain, Italy, Czech Republic and Sweden are ranked in top 10.

economy.bg, 14.03.2014

Bulgarian brewers have invested BGN 57 Mln in 2013 BGN 57 million have been invested in the brewery industry in Bulgaria in 2013. “Since we are investing, it means that the industry stands serious, is looking forward to the future and has the intention to create added value", said the Executive Director of the Union of Brewers in Bulgaria Ivana Radomirova. Currently Brewers, who represent 95% of the beer market in the country, have produced 5.116 million hectoliters of beer, which is 1% less than in 2012. Radomirova believes that this is part of the European trend -although slowly, the beer market is recovering. She is quite optimistic for the sector’s future. There is a decrease in sales by 1%, but still it’s not the overall statistics for development of the market, Radomirova said.

kmeta.bg, 15.03.2014

Eurostat: Construction in Bulgaria rose by 2.2% in January In January 2014 compared to December 2013, seasonally adjusted production in the construction sector grew by 1.5% in the euro area (EA18) and by 1.3% in the EU28, according to first estimates from Eurostat, the statistical office of the European Union. Thus it is a second consecutive month of improvement in construction sector after the serious decline, registered for the period September-November last year. Eurostat presented positive data for construction in Bulgaria, as compared to the overall positive development in the sector in the rest of Europe in the start of 2014. According to Eurostat the construction in Bulgaria increases in January by 2.2 % on a monthly basis compared to 0.6% in December 2013. On an annual basis construction in Bulgaria rose by 3.6 percent in January compared to January 2013, discontinuing the negative trend of deterioration of the construction industry of the past year.

bnr.bg, 19.03.2014

Outsourcing leader expands Development Center Operations in Bulgaria SoftServe, Inc., a leading global outsourcing product and application development company, announced it is executing on its global strategy by opening its newest software development center in Sofia, Bulgaria. The center will augment various software development engagements to support the company’s vertical strategy. “Eastern Europe consistently ranks at the top of the world in educational achievement in math, science and technology,” said Alan Harlan, CEO of SoftServe. “The opening of this center is a key component in our global strategy to provide the best development expertise, deliver industry-leading software and expand on our world class customer delivery.”

computerworld.bg, 20.03.2014

Bulgarian Bulmat plans to invest in new plant The Bulgarian company Bulmat plans to invest more than EUR 10 million in new plant and warehouse facilities for flexible joints and accessories for sanitary ware in the former military base in the city of Dobrich. In a letter to the mayor of the city the local firm had indicated a desire to purchase municipal area of more than 36 000 square meters. The construction of the industrial areas must be completed within one year and the whole project should be completed in about five years. Between 100 and 150 jobs will be created in the plant.

capital.bg, 20.03.2014

Ate Plast OOD has opened a new plant Ate Plast OOD has opened a new plant for flexo printing and laminating in the Bulgarian city of Stara Zagora. It is located in the ex-exhibition hall of robotics factory Beroe in Stara Zagora. The construction of the plant has been realized thanks to European programs. It is expected that the company will open new jobs ant their number will increase from 17 to 30. The construction of the plant is through the European programs. The project is implemented under the Operational Programme "Development of the Competitiveness of the Bulgarian Economy". With the investment for BGN 7 million have been purchased two machines - flexographic and lamination. About 80% of the production is exported.

kmeta.bg, 20.03.2014


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



European investment bank gives EUR 400 million to Bulgaria European investment bank plans to increase its credit portfolio in Bulgaria in 2014. The financial institution plans to pour in local economy EUR 400 million, as compared to 2013 when EUR 270 million was provided for Bulgaria, Mihai Tanasesku, vice president of EIB announced. We trust Bulgaria and we want to help it develop, he explained. For the past five years the bank has granted a total of EUR 893 in the form of loans for investment projects.

Most money went in the sector of water supply and waste treatment, assessed at EUR 671 million. Transport got EUR 94 million, while industry and agriculture were provided for EUR 92 million. Tanasescu explained that a priority for the financial institution will be small and medium sized enterprises that are the backbone of economy and have the greatest need of fresh funds.

pressadaily.bg, 21.03.2014


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



INVESTMENT PROJECTS IN A PROCESS OF REALIZATION

O.M.S Saleri

O.M.S Saleri is ownership of Italian family Saleri. Bulgarian plant for ball valves, based in Vratsa is the sole enterprise of the company out of Italy. By now more than EUR 4 million has been invested in the Bulgarian subsidiary. Plans are the sum to reach EUR 15 million in the following few years. This means that more than EUR 10 million will be invested in the plant. It is opened in October 2012, after it was constructed literally from a bare lawn. Ball valves, produced here are transported to Italy, from where they are sold worldwide. Valves are used in construction of gas and oil pipeline and industrial plants. For now 24 people are employed in the factory. At present the company is looking for hiring more experts. Plans are after the entire investment is completed the company’s employees to reach 120-130 people.

Source: capital.bg

Lavena JSC

The new Lavena’s factory on Shoumen will be ready in the beginning of July and is to start work in the summer. The company’s investment is assessed to BGN 6.8 million. Under the project built floor area of the new facility will be 8502 square meters, as besides production part it will consist of warehouse for raw materials and ready made products, detached zones for shipping, administrative part and a lab. Production processes optimization will be achieved after new machines start work. Inter factory shipping and revenues are also expected to improve. In addition expansion of production capacity is also envisaged.

Source: capital.bg

Inotech

The company plans construction of a plant in the next two years. In 2014 and 2013 about EUR 3 million will be invested. Total investment will be increased by EUR 500 thousand to EUR 1 million yearly. Production is expected to start in the middle of 2015. The company produces plastic parts, utilized in car industry, as well as plastic components that are dyed and later mounted. In 2014 about 10 new employees will be hired, who are to go to Germany where they will be trained for a year’s time.

Source: economy.bg


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



ANALYSIS OF SECTOR METALLURGY

Sector Metallurgy Number of companies, number of employees in the sector

„Manufacture of basic metals“ (NACE 24)

19 311

15 993

13 291

12 252 11 663

216 216 215 200 191

0

100

200

300

400

500

600

700

800

900

1000

8 000

10 000

12 000

14 000

16 000

18 000

20 000

2008 2009 2010 2011 2012

Number of employees Number of companies

companies, number

employees, number

Top companies in the sector by number of employees

Company Number of employees

2010 2011 2012

Sector Manufacture of basic metals (NACE 24)

KCM SA (Non-ferrous Metals Smelter) - Plovdiv

1 372 1 338 1 356

Stomana Industry JSC - Pernik 728 747 930

Alcomet JSC - Shumen 778 785 818

Aurubis Bulgaria JSC - Pirdop 789 815 810

Berg Montana FittingsSPJSC - Montana

530 490 563

Sector Manufacture of fabricated metal products, except machinery and equipment (NACE 25)

Energoremont Galabovo JSC - Galabovo 977 886 874

Metalic JSC - Stara Zagora 576 505 627

Ceratizit Bulgaria JSC - Gabrovo 467 533 535

Technokoroza JSC - Lovech 596 619 523

Thread-broaching Tools Gabrovo SPLTD - Gabrovo 431 492 507

Source: Bulgarian Enterprises Information System (BEIS) www.beis.bia-bg.com

Top companies in the sector by sales income

Company Sales (BGN mln)

2010 2011 2012

Sector Manufacture of basic metals (NACE 24)

Aurubis Bulgaria JSC - Pirdop 3 219.7 4 673.7 4 320.0

Stomana Industry JSC - Pernik 712.2 938.8 726.1

Sofia Med JSC - Sofia 498.6 650.9 667.5

KCM SA (Non-ferrous Metals Smelter) JSC - Plovdiv 531.0 580.0 591.8

Promet Steel JSC - Sofia 237.8 405.4 345.3

Sector Manufacture of fabricated metal products, except machinery and equipment (NACE 25)

Etem Bulgaria JSC - Sofia 126.3 114.1 118.6

Technokoroza JSC - Lovech 93.4 113.7 86.9

Angel Stoilov 96 JSC - Plovdiv 43.5 56.1 56.7

Pnevmatika Serta JSC - Kurdzhali 30.0 41.1 54.0

NES - New energy systems LTD - Shumen 16.3 35.4 51.7

Source: Bulgarian Enterprises Information System (BEIS) www.beis.bia-bg.com

Data in graphics are taken from Eurostat and include the following sectors Manufacture of basic metals (NACE 24) and Manufacture of fabricated metal products, except machinery and equipment (NACE 25).

Number of companies, number of employees in the sector „Manufacture of fabricated metal products, except machinery and

equipment“ (NACE 25)

63 878

59 956

53 71254 630

53 771

4 085 4 332 4 022 3 879 3 674

1 000

3 000

5 000

7 000

9 000

11 000

13 000

15 000

17 000

19 000

21 000

30 000

35 000

40 000

45 000

50 000

55 000

60 000

65 000

2008 2009 2010 2011 2012

Number of employees Number of companies

companies, number

employees, number

Turnover and production volume 2008-2012, BGN mln

0

500

1 000

1 500

2 000

2 500

3 000

3 500

4 000

4 500

5 000

2008

2009

2010

2011

2012

2008

2009

2010

2011

2012

Manufacture of basic metals (NACE 24) Manufacture of fabricated metal products, exceptmachinery and equipment (NACE 25)

mln €

Turnover (or gross written premiums) Production volume

Investments in tangible assets 2008-2012, BGN mln

0

30

60

90

120

150

180

210

240

270

300

2008

2009

2010

2011

2012

2008

2009

2010

2011

2012

Manufacture of basic metals (NACE 24) Manufacture of fabricated metal products, exceptmachinery and equipment (NACE 25)

mln €Gross investments in tangible assets


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



Investments in sector Metallurgy

Metallurgy comprises the manufacturing processes of producing metals and processes related to changes in the structure and properties of metal alloys. The sector is divided into ferrous and nonferrous metallurgy, as ferrous metallurgy covers production of alloys of iron, and the nonferrous - the production of other metals.

Because of the role and application of metallurgy in various economic and industrial sectors, together with related industries it represents one of the largest technical sectors in the EU. The production sector has a share of 46% of the total output of the EU and 11% of the GDP. Production sector in Bulgaria occupies 17.3% of production in the industry. Other EU countries, which are characterized by a large share of production in the industry, are Norway (10.7%), Austria (9.7%), Sweden (8.1%), Finland and Romania (8%), Latvia (7.7%), Belgium (7.4%), Slovakia and Croatia (7.3%). In the EU iron and steel have a predominant share of production (44%), in Bulgaria the nonferrous holds 80%.

Bulgarian metallurgy occupies a significant share in the performance of the industry and economy.

In 2011, production as to the the same period before the crisis, is up by almost BGN 2 billion, and compared to 2010 it increased by 16.3% as Manufacturing holds the largest share of 71.1%. The largest share is held by nonferrous metallurgy - 80%, ferrous - 18% and casting - 2%.

Improved competitiveness of metallurgical production, especially in non-ferrous metallurgy, has been achieved. There have been investments in new facilities and technology, ecology and environment in energy efficiency, implementation of new products with high added value, etc. Technological and product restructuring continues, despite the problems arising as a result of the economic crisis.

For years export of metals and metallurgical products has been a major item in the national commodity exports. In order to cover domestic consumption Bulgaria also imports as the main amount of metal products is of ones not produced in the country. The foreign trade turnover of Bulgaria, as an EU member, is relieved due to the functioning single European market and liberalized trade policy with third countries. Imports in 2009 and 2010 reduced, reflecting the economic crisis and shrinking local production, respectively consumption of metals.

The review and analysis of the sector Manufacture of basic metals point to the conclusion that Metallurgy is structure-defining to the Bulgarian economy with a large share in industrial production, GDP and GVA. Moreover, Metallurgy is an important exporter with a share of over 15% of the commodity exports. The main production facilities are product and technology updated, advanced technology and equipment have been introduced, players in the sector continue to invest in environmental and energy efficiency and in the utilization of new products. Produced copper in 2012 is 13.8 % of that of the total for the EU (27), zinc - 3.7% and lead - 4.2%, while the population of our country is less than 1.5% of that of the EU .

Source: Sector analysis of sector Metallurgy, developed as part of the project “Development and Implementation of an Information System for Assessment of Workforce Competencies at Sectoral and

Regional level (MyCompetence)" of the Bulgarian Industrial Association.


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



VIOHALCO Industrial Group

VIOHALCO Industrial Group is present on the Bulgarian market since 1991. In the Holding are included 60 companies making a turnover of more than € 4 billion. All the companies operate in the field of metal industry and produce and trade with ferrous and non-ferrous metals.

In Bulgaria operate 16 companies and the larger ones are STOMANA INDUSTRY S.A. (Pernik) – ferrous metal company for production of blooms, slabs, flat and long rolled products, SOFIA MED S.A. (Sofia) – non-ferrous metal company for copper and brass products and ETEM BULGARIA S.A. (Sofia) – non-ferrous metal company for production of extruded aluminum products.

The total net sales for 2013 of the companies in the Group exceed BGN 2 billion while the export for the same period is more than BGN 1.3 billion.

"STOMANA INDUSTRY" S.A.

STOMANA INDUSTRY SA is a leading steel manufacturer in Bulgaria. The company has been present in the Balkan and international markets for more than 50 years, and produces a wide range of products, including reinforcing steel, heavy plate, merchant bars, special steels, special profiles and sections.

The company steel production strictly meets widely accepted quality standards such as EN, DIN, ASTM, JIS, BS, Lloyd’s Register, Germanischer Lloyd, etc. The Quality Management System is certified according to ISO 9001:2008.

The total investments in new facilities exceed BGN 230 mln

“SOFIA MED” S.A.

SOFIA MED SA is a producer of a wide range of rolled and extruded copper, copper alloy and zinc products such as sheets, strips, plates, circles, disks, bus bars, rods, profiles, wire that are used in a wide variety of applications. SOFIA MED SA is part of the holding HALCOR, companies in which are specialized in producing also other copper and brass products such as pipes, electrical and telecommunication cables.

With over 70 years of manufacturing experience and the significant investments implemented, SOFIA MED SA has evolved into a competitive modern European company with customers all over the world.

The large investment program implemented in the company of more than BGN 260 mln.

"ETEM BULGARIA” S. A. Etem Bulgaria is an aluminium extrusion company, engaged in the manufacturing of Architectural Systems (aluminum and PVC), Aluminum profiles and parts for Automotive industry and industrial aluminium profiles. Through significant investments in high technology equipment and controlled processes the Group has entered the premium suppliers’ shortlist for a series of well-respected automotive companies including BMW, AUDI, MERCEDES and JAGUAR – LAND ROVER. Annual production capacity: 27,000 tons. The industrial complex of Etem Bulgaria in Sofia, includes a logistics center which serves ETEM Group’s customers in Central and Eastern Europe and the Balkans and is active in aluminium extrusion, manufacturing architectural, automotive and industrial profiles.

In 2013, approximately BGN 6.2 MIL pertained to the improvements and upgrades of ETEM BULGARIA. The total investments in new facilities and upgrades are exceeding BGN 120 mln.


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



Other successful investments in sector Metallurgy

Alcomet JSC - Shumen Alcomet JSC is a leading Bulgarian producer of rolled and extruded aluminum products. Now is one of the largest manufacturers of rolled aluminum on the Balkans. In 2013, the investments in unfinished sites are BGN 11 million, while those of the machinery and equipment in operation are worth BGN 28 million. (company information)

Aurubis Bulgaria JSC - Pirdop

The main activity of Aurubis Bulgaria is processing of copper concentrates to produce copper anodes and cathodes. It has invested over EUR 500 million in modernization of production and eco-efficiency improvements in the last 10 years. (company information)

KCM JSC - Plovdiv

KCM is a leading manufacturer of non-ferrous and precious metals in Southeastern Europe and the Black Sea region. The company actively participates in the creation and implementation of effective technological, investment and organizational solutions that contribute to improving the economic potential of the community. The major investment project of KCM is "Technological renovation and expansion of production", which was implemented in the period 2008 - 2013 and is worth EUR 190 million. (company information)

Promet Steel JSC - Burgas

Promet Steel is a high-tech enterprise specialized in manufacturing of a wide range of hot-rolled steel sections of ordinary and special steels. The company pays great attention to the development of production, improvement of existing, development and implementation of new processes and equipment, implementation of new products, expansion of export capacity. Investment in technological innovation, automation of processes and implementation of new products are more than BGN 15 million. (company information)


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



INVESTMENT OPPORTUNITIES OF MUNICIPALITY

Sofia Municipality

Area: 1 311 sq. km Mayor: Jordanka Fandakova

Tel: +3592/ 9873579 Fax: +3592/ 9810703

e-mail: [email protected] Web site: http://www.sofia.bg

Sofia Municipality Population Total for Sofia Municipality 2010 2011 2012

Population (number) 1 259 446 1 296 615 1 302 316

Birth rate, (number) 30 -1 432 -1 889

Mechanical growth - total (number) 9 618 6 252 7 590

Working-age population, number 833 309 856 126 859 988

Leading companies by sales income (BGN mln)

Company 2010 2011 2012

Lukoil-Bulgaria SPLTD 3 349.4 3 486.5 3 590.7

National Electricity Company SPJSC 3 087.1 3 184.3 3 004.1

Bulgargaz SPJSC 1 266.0 1 637.2 1 878.7

OMV Bulgaria LTD 1 622.0 1 840.6 1 739.0

Overgas Inc. JSC 952.4 1 209.0 1 473.8

Leading companies by profit (BGN mln)

Company 2010 2011 2012

Bulgarian Energy Holding SPJSC 115.3 181.0 285.9

State Consolidation Company SPJSC -0.3 92.9 185.1

Rompharm Company LTD 119.5 105.3 125.3

ContourGlobal Maritsa East 3 JSC 86.4 94.4 121.2

Bulgartransgaz SPJSC 113.0 119.7 107.7

Projects carried out in the Sofia Municipality

Projects funded under the Operational and national programs and community programs of the European Union and other initiatives

Project MILD HOME: my modular, intelligent, low-cost "do it yourself" nearly zero - energy house for our Green Eco Village (WEU)

Project TURaS "Urban flexibility and resilience" Project "Promotion of sustainable urban mobility" (Sustainable Urban Mobility -

SUM) Project "Establishment of project readiness for application of Sofia Municipality

under Operational Programme Regional Development for the period 2014 -2020.

Project under 7th Framework Programme of the EC - Models of optimizing the dynamics of the urban mobility (MODUM)

Project "Modern Administration - guarantor of modern education" Project "Through effective partnerships for sustainable development in Sofia" Projects funded under the Operational and national programs and community

programs of the European Union and other initiatives

http://www.investbg.government.bg/mailto:[email protected]://www.sofia.bg/

of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



Sofia Province Area 1 311 sq. km

Population Total for Province Sofia - capital 2010 2011 2012 Population (number) 1 259 446 1 296 615 1 302 316

Natural increase - from 1000, ‰ 0.1 -1.1 -1.4

Economic indicators and labor market

Total for Province Sofia - capital 2010 2011 2012

Employees under labor contracts (number) 681 864 681 915 674 504

Average annual salary of employees under labor contracts (BGN)

10 547 11 249 12 059

Economic activity rate - 15-64 years (%) 75.6 71.6 72.2

Employment rate - 15-64 years (%) 70.6 67.2 66.9

Unemployment rate (%) 6.6 6.1 7.3

Registered unemployed as to 31.12. (number) 19 391 22 454 24 155

GDP (BGN mln) 28 320 30 098 N/A

GDP per capita (BGN) 22 573 23 256 N/A

Foreign direct investment in non-financial enterprises, as at 31.12. (EUR mln)

12 466 819 11 586 557 11 703 507

Cost of acquisition of long-term tangible assets (BGN million)1)

7 607 931 8 482 783 7 980 131

Turnover (BGN mln) * 85 736 852 92 739 144 96 614 400

Produced output (BGN mln) * 44 012 467 45 936 214 47 587 133

Value added at factor cost (BGN mln) * 15 360 015 15 958 271 16 169 631 1) Incl. purchase of land * Data are calculated by the methodology of Structural Business Statistics Source: NSI


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



CHAMBERS OF COMMERCE IN BULGARIA

Hellenic Business Council in Bulgaria (HBCB) Sofia 1000, 1-V, Oborishte Str., fl. 4 Tel: (+359 2) 950 24 40 Fax: (+359 2) 950 24 43

E-mail: [email protected] www.hbcbg.com

The Hellenic Business Council in Bulgaria [HBCB] is a leading business organization, established in 2005. For nine years now HBCB has been growing at a steady pace and now it represents the interests of 200 Greek, Cypriot and Bulgarian member companies. The Council’s membership comprises companies across all economic sectors – industry, construction & logistics, transportation, IT, energy production, services (financial, law, consultancy etc), tourism, real estate, advertising and PR, education, etc.

The volume of the investments of HBCB members from Greece and Cyprus exceeds € 4.5 billion and ranks them among the leading investors in Bulgaria. The number of employees in these companies exceeds 40,000 people.

The HBCB’s main objectives are to protect the economic interests of its members, to facilitate networking between them and to foster the business and cultural relations between Greece and Bulgaria.

The above goals are achieved through:

Meetings between HBCB membership and political officials from both Greece and Bulgaria

Wide Information platform consisting of seminars, printed editions and internet publications which aim to keep HBCB members informed on legislative and economic matters, business opportunities within Bulgaria and abroad, as well as on the political situation in the country.

Initiatives aiming to improve the cultural relations and to support education in Bulgaria and Greece.

Networking events where members and friends of HBCB have the opportunity to establish new contacts and discuss past experience and future projects.

Cooperation with the Embassy of Greece in Bulgaria and the Embassy of Bulgaria in Greece.

http://www.investbg.government.bg/mailto:[email protected]://www.hbcbg.com/

of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



MACROECONOMIC INDICATORS

Foreign Direct Investments in Bulgaria EUR mln

Net cash flow - annual data

Years 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012* 2013*

980 1850.5 2735.9 3152.1 6221.6 9051.8 6727.8 2436.9 1151.2 1330.2 1070.3 1092.4

Net cash flow – quarterly data

Quarters 2013'Q1* 2013'Q2* 2013'Q3* 2013'Q4*

372.9 263.5 454.8 1.2

Net cash flow – monthly data

2013 2014

II* III* IV* V* VI* VII* VIII* IX* X* XI* XII* I*

Months 152.5 149.6 -67.8 456.9 179.5 298.2 119.4 37.2 41.2 256.3 -296.3 58.3 * Data is updated (as to 31.03.2014) Source: BNB

Main economic indicators EU – Bulgaria – Greece European Union Bulgaria Greece GDP (purchasing power parity)

$ mln 15 830 000 [2012 est.] 104 600 [2013 est.] 266 000 [2013 est.]

GDP - real growth rate %

0 [2013 est.] 0.5 [2013 est.] -4.2 [2013 est.]

GDP - per capita (PPP) $ thousand

34.5 [2013 est.] 14.4 [2013 est.] 23.6 [2013 est.]

Industrial production growth rate %

-0.2 [2013 est.] 1 [2013 est.] -3.5 [2013 est.]

Labor force Mln

231 [2013 est.] 2.551 [2013 est.] 4.918 [2013 est.]

Unemployment rate %

10.8 [2013 est.] 11.6 [2013 est.] 27.9 [2013 est.]

Budget surplus (+) or deficit (-) % of GDP

n.d. -2.4 [2013 est.] -2.3 [2013 est.]

Public debt % of GDP

n.d. 18.4 [2013 est.] 175 [2013 est.]

Inflation rate (consumer prices) %

1.5 [2013 est.] 1.5 [2013 est.] -0.8 [2013 est.]

Current account balance $ mln

-34 490 [2011 est.] -182.3 [2013 est.] 2 021 [2013 est.]

Export $ mln

2 173 000 [2011 est.] 27 900 [2013 est.] 30 390 [2013 est.]

Import $ mln

2 312 000 [2011 est.] 32 880 [2013 est.] 50 580 [2013 est.]

Reserves of foreign exchange and gold $ mln

863 800 [12m 2011] 20 690 [12m 2013] 7 255 [12m 2012]

Debt - external $ mln

15 950 000 [12m 2012] 37 850 [12m 2013] 568 700 [12m 2012]

Stock of direct foreign investment - at home $ mln

n.d. 54 210 [12m 2013] 40 100 [12m 2013]

Stock of direct foreign investment - abroad $ mln

n.d. 1 939 [12m 2013] 43 310 [12m 2013]

Source: CIA /www.cia.gov


of 22


tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320



UPCOMING EVENTS

4-5 April 2014

Stuttgart, Germany INVEST 2014 Leading trade fair and congress for finance and investment

15 April 2014

Perugia, Italy Day for presentation of Bulgaria

13 May 2014

Trinity House London, United

Kingdom

The Investment Agenda STRATEGIC RISK TAKING IN THE RECOVERY

14-15 May 2014

Brussels, Belgium European Business Summit 2014

15 May 2014

The Dorchester London, United

Kingdom

Bellwether Europe 2014

investbulgaria agency - chinagoabroad › sites › v2 › files › uploaded › attachments ›...

Documents