investbulgaria agencyinvestbg.government.bg/files/library/file/file-125-1-3039.pdf · for the tenth...

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

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InvestBulgaria Agency

March 2016 issue 18, year 4

www.investbg.government.bg

HIGHLIGHTS

News for InvestBulgaria Agency

Economic News - Business, Investments, Trade

Upcoming Events

Foreign Direct Investments in Bulgaria

NEWS FOR INVESTBULGARIA AGENCY

Invest Bulgaria Agency handed the “Oscars” of the economy on the 10th anniversary ceremony "Investor of the Year 2015"

For the tenth time InvestBulgaria Agency (IBA) presented the awards "Investor of the Year" and honored the most significant investment projects implemented in Bulgaria during the last year. The ceremony was held on February 10, 2016 in Sofia Hotel Balkan. At the event attended the Deputy Prime Ministers Meglena Kuneva and Tomislav Donchev, Ministers Bojidar Lukarski, Nikolina Angelkova, Ivelina Vasileva, Lilyana Pavlova, deputy ministers Lyuben Petrov and Daniela Vezieva, many representatives of the business elite and leaders in the public

and political life. Among the guests were also the ambassadors of Germany, Japan, Kazakhstan, Turkey, Romania, Azerbaijan, Algeria, Belgium, Slovakia, South Korea, many sales representatives, chairmen of bilateral trade and industrial chambers, lawmakers from different parliamentary groups and journalists.

"I'm really glad to see you here together, as responsible institutions and individuals participating in the investment process. We worked tirelessly in 2015 in order to achieve 20% growth in investments. On the basis of our collaboration with the responsible authorities the term "It’s not going to happen" was replaced with "It can be done" and investors may find their suitable investment environment here in Bulgaria. We set the tempo high in 2015, and we do hope to continue. So I want to thank you, but also to ask you for patience because from tomorrow we start with a mutual demanding job, so that investors would prefer our country to realize their business. Finally I want to thank you and give attention to our stars

tonight, the investors in Bulgaria. "With these words, the executive director of the InvestBulgaria Agency- Stamen Yanev welcomed all the attending guests. Over 70 applications were received from companies in all sectors of the economy, information technology, health care, sent from ministries, regional administrations and municipalities. After discussion and evaluation by an objective methodology 17 companies, that realized investment projects in 2015, reached the finish line.

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


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Issue 18 / March 2016 InvestBulgaria Agency

The Deputy Prime Minister Tomislav Donchev handed the prize for "Investor of the Year" to Mining and Processing Complex "Asarel Medet" - "Asarel Panagyurishte Health" of prof. Dr. Lachezar Tsotsorkov, Chairman of the Supervisory Board of Mining and Processing Complex "Asarel -Medet" AD, and Borislav Atsev. Woodward, Standard Profil Bulgaria EAD, Kostal Bulgaria LTD and Walltopia LTD received the statuette Golden Bull, made by the sculptor Seyfetin Shekerov. Awards 1. The Golden bull statue, made by the sculptor Seyfetin Shekerov and the Diploma Investor of the Year for achievements in 2015 - Mining and Processing Complex "Assarel Medet" AD- "Asarel Panagyurishte Health" The project to build a modern medical complex with multi hi-tech center for radiotherapy in Panagyurishte is implemented by "Asarel Panagyurishte Health" AD. The modernized hospital in Panagyurishte has equipment of the last generation. The center is expected to receive the two of the best multimodal medical linear accelerators in Bulgaria and Southeastern Europe which are of the highest class worldwide. For every 50 patients who will be treated at the oncology center, the state will save around BGN 1 million from the budget of the National Health Insurance Fund, as prices carried out by the services of health insurance fund will be about two times lower here compared to the prices in Turkey and three times lower than the prices in Germany. The hospital complex includes 296 beds and 700 medical and non-medical personnel, only for staff training around BGN 400 000 are provided annually. The main objective of the project is the transformation of Panagyurishte’s Hospital in a unique, modern medical complex not only for Bulgaria but also for Southeast Europe. The total investment is over BGN 60 million. The number of jobs created for the entire project: 700 medical and non-medical.

The award was presented by the Deputy Prime Minister and Minister of EU Funds Tomislav Donchev who said: "Doing business and investing in such interesting times is not for everyone and thus it is a great achievement. Today Bulgaria lack heroes. Those who do not sleep while others sleep, those who are not content with little, those who want more - are the heroes. Those are the people who work better tomorrow than yesterday, those who risk not only their spare time but their property and their health". The prize received prof. Dr. Lachezar Tsotsorkov, Chairman of the Supervisory Board of Mining and Processing Complex "Asarel Medet" and Borislav Atsev- governor.

Prof. Dr. Lachezar Tsotsorkov: "I wish to thank the jury for its appreciation, our team of 1,800 people and the government, which adopted in 2015 the national strategy for development of mineral-raw materials industry, the mining industry. With a European vision which will give courage to the investors in Bulgaria. The companies in this industry contribute exceptionally for the socio-economic development in the regions where they operate".

2. Greenfield investment: WOODWARD Inc. The company Woodward BULGARIA Ltd. is in Bulgaria since 2011. Total investment: BGN 9.135 million. Number of jobs: 133 during the first three years. Production: electromechanical components and assemblies for the aviation. Markets and realization: Clients are leading manufacturers of aircrafts and avionics - BOEING, AIRBUS, GENERAL ELECTRIC Handing the prize was the Minister of Regional Development and


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Public Works Lilyana Pavlova "I assure you that we will try hard to relieve your investments and make it easier for them to expand increasingly." declared Minister Pavlova. Emil Iliev, manager, received the prize. 3. Investments in human capital - Standard Profil Bulgaria EAD Production of rubber sealing systems for the automotive industry The latest investment was BGN 20.5 million The number of revealed new jobs in 2015 – 268 Markets and realization - Germany, Poland, England, France, Italy, Serbia, Russia, Romania, Mexico, USA, Canada,

China, Korea The prize was handed by the Minister of Environment and Water Ivelina Vasileva "I think nature is one of the most important preconditions for the sustainable development of the economy. Bulgaria has its beauty. The people are the capital of a country that has chosen the modern way of sustainable development. This is the investment with the highest returns, because only by investing in our human capital, we will achieve prosperity and raise the standard of living of our citizens. " The prize was received by Petar Angelov, Director.

4. Investments in expanding business: Kostal Bulgaria Ltd. The company was established in 2011 in Bulgaria. Total investment: by the end of 2015 – BGN 37 million. Turnover for 2015 is over BGN 100 million. Production: Every week management modules and other modules for over 100,000 cars are being produced. Number of new Jobs: over 1000 Markets and realization: In Bulgaria we produce parts for the majority of international manufacturers such as Ford, VW (Audi, Skoda, Porsche, Bentley), Fiat, Daimler, Renault.

The Economy Minister Bozidar Lukarski handed the prize. "It's an honor to reward the winner, namely in the category for" Investment in business expansion” because for us are important not only the new investors, but also those who remain and further develop their investments. I am glad that the majority of foreign investors remains and expands their projects, this shows that the conditions that we offer provide stable outlook in the long run. This is what business needs in Bulgaria and this is the direction in which we have focused our efforts. " Receiving the award: Joachim Grabovski- general manager

5. Investing in innovative businesses - Walltopia Ltd. On the Bulgarian market for: 18 years Total investment: BGN 16.4 million. Number of created jobs: 490 Walltopia is a world leader in the production of artificial climbing walls, to current date, the company has built over 270,000 square meters in climbing walls. The main activity of Walltopia is the design and production of climbing walls. Since 2012 onwards the company expanded its portfolio and currently has a number of completed projects in the entertainment industry. The products produced for this sector are: Fun Walls- interactive children's climbing walls, Rollglider - facility, giving the feeling of free flight, but in a safe environment; Ropetopia


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- rope parks with obstacles; structure and rope attraction hurdles; Rocktopia - equipment for theme parks, interactive structures for children's centers and museums, playgrounds for children. Markets and realization: Currently Walltopia has completed over 1,500 projects in more than 50 countries on 6 continents. The company has offices in the USA, Canada, Austria, Germany, Malaysia and Russia and works with more than 20 of its regional offices worldwide. Awarding the prize: Deputy Prime Minister for Coordination of European Policies and Institutional Affairs and Minister of Education and Science Meglena Kuneva "Last year I had the pleasure to participate in this celebration and I want to tell you that there really is growth.

There is growth in self-confidence, there is growth in scale. The more often we thank each other, the more we will succeed, this is a self-fulfilling prophecy, of course, thanks to you. I am impressed by what you are doing, because investment in innovative businesses is something with which we measure how far we go. If we do not move forward in terms of innovation, if we do not go ahead with our knowledge, then it means that we cannot overcome the problems and fight for our place in Europe, because Europe will not be able to fight for its rightful place in the world. Receiving the award: Ivaylo Penchev, manager

Crystal plaques of InvestBulgarian Agency 1. Successful startup - Melissa Klaymat Ltd. Handing the prize: Deputy Minister of Economy- Lyuben Petrov, Receiving the award: Lubomir Yanchev 2. Investment in merger/acquisition - Mohawk Industries / KAI Handing the prize: the deputy Minister of Economy Daniela Vezieva Receiving the award: Brian Howe 3. Municipalities in Bulgaria with most investments - Municipality Kostinbrod Handing the prize: Nikolina Angelkova, Minister of Tourism "First I would like to congratulate the InvestBulgaria Agency and Mr. Stamen Yanev, for the fact that for those 10 consecutive years, these awards have become a very good example of good and successful business practices. The Ministry of Tourism has a joint initiative with the InvestBulgaria Agency, namely to develop an investment map for investment opportunities in the tourism sector. " Received the prize: Trajko Mladenov


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InvestBulgaria Agency and the Bulgarian-Spanish Chamber of Commerce signed a Memorandum for Cooperation

Stamen Yanev, Executive Director of InvestBulgarian Agency (IBA) and Biliana Manolova, deputy chairman of the Bulgarian-Spanish Chamber of Commerce met on 25.02.2016 in Sofia in the building of IBA /St. Aksakov №31 3rd floor/ in connection with the signing of a Cooperation Agreement. The Memorandum is expected to become an important mechanism for stimulating and supporting the business in the Republic of Bulgaria and the Kingdom of Spain and to be the basis for the development of closer trade relations which will lead to an increase in bilateral investments. It envisages active interaction between the two organizations on attracting investments and exchanging information

between potential business partners (companies from Bulgaria and the Kingdom of Spain). It also foresees the subject of cooperation to be investment projects (existing and planned), public statistical data, analyzes, results of market research and information on the state regulatory measures. The Cooperation Agreement also provides that the two organizations will work together to develop sustainable economy and to partner in the development of projects and programs related to public-private partnership. Mutual provision of information for business forums and exhibitions will be a further step towards the mutual attraction of investments from both countries. IBA and the Bulgarian-Spanish Chamber of Commerce commit to analyze periodically the results of the cooperation in the framework of the signed agreement, to exchange information about the outcome and to develop new proposals for improving the quality exchange of knowledge between the two organizations.

InvestBulgaria Agency presented the opportunities for business and investments in Bulgaria at Business Forum Bulgaria – Cyprus On February 23, 2016, Business Forum Bulgaria – Cyprus was held in the building of the Bulgarian Chamber of Commerce in Sofia. His Excellency Rosen Plevneliev, President of the Republic of Bulgaria and His Excellency Nicos Anastasiades, President of the Republic of Cyprus, opened the forum with welcome speeches and a clear desire for more extensive cooperation between the two countries.

The discussion meeting was attended by Mr. Stamen Yanev, Executive Director of InvestBulgaria Agency (IBA), Mr. Yiorgos Lakkotrypis, Minister of Commerce, Industry and Tourism of the Republic of Cyprus, Mr. Christodoulos Angastiniotis, Chairman of the Cyprus Investment Promotion Agency, representatives of foreign and local chambers of commerce and associations, employers' organizations in Bulgaria and representatives of foreign and local businesses. The Executive Director of IBA Stamen Yanev presented the investment opportunities, incentives and low taxes in Bulgaria before the business delegation from Cyprus.

Companies from Cyprus, who attended the event were interested in appointments with Bulgarian partners in the following areas: consulting, accounting, tax, legal and financial services, real estate, architecture, construction, investment, tourism, transportation, aircraft, motor transport, trade and others.


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InvestBulgaria Agency and The Binational Chamber of Commerce BULGARIA ISRAEL signed Cooperation Agreement

The Executive Director of InvestBulgaria Agency (IBA) Stamen Yanev and Avinoam Katrieli, President of The Binational Chamber of Commerce BULGARIA ISRAEL met on 26th of January in connection with the signing of an agreement for extended cooperation. It is expected that the Cooperation Agreement becomes an important mechanism for stimulation and support of the business in the Republic of Bulgaria and the State of Israel, and to be the basis for the development of closer trade relations and increased bilateral investments. It envisages active interaction between the two organizations on attracting investments and exchange of information on potential business partners (companies

from Bulgaria and Israel). It also foresees the subject of cooperation to be investment projects (existing and planned), public statistical data, analyzes, results of market research and information on the state regulatory measures. The Cooperation Agreement also provides that the two organizations work together to develop sustainable economy and to partner in the development of projects and programs related to public-private partnership. Mutual provision of information for business forums and exhibitions will be a step forward towards the mutual attraction of investments from both countries. IBA and the Binational Chamber of Commerce BULGARIA ISRAEL commit to analyze periodically the results of cooperation in the framework of the signed agreement, to exchange information about the outcomes and to develop new proposals for improving the quality exchange of knowledge between the two organizations.


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ECONOMIC NEWS – BUSINESS, INVESTMENTS, TRADE

1105.6 mln. Euro FDI in Bulgaria for the period January - September 2014

1105.6 mln. Euro (2.7% of GDP) are the attracted FDI in the Bulgarian economy from January - September, announced from Bulgarian National Bank (BNB). These are preliminary, unrevised data, specified the Bank, adding that the current data will be revised in the statement of attracted investment from January to October 2014 For the same period in 2013 the economy has attracted FDI 1,160.7 mln. Euro (2.8% of GDP). This are already revised data. If we compare these volumes the result will be 55.1 million euro less investments than the same period last year. If the data is compared with the preliminary data of the same period last year, it would be quite a different picture. The announced volume for the first nine months of 2013, was 854.4 mln. Euro (2.1% of GDP), which is an increase of 29.4%. Investments in equity capital during January-September 2014 are about € 259.4 million or 506.4 million Euro less than the equity capital raised during the same period in 2013 (765.7 million. Euro). The unrevised data for attracted private equity for the same period last year, showed that under this item are entered 618.3 mln. Euro. The incomes from the investment by foreign persons in real estate in the country are 83.1 mln. EUR, while they are 118.9 million Euro in January - September 2013. The investments in other capital in January - September 2014 are 721.8 mln. Euro, while for the same period in 2013 they are only 321.7 million. Euro. On the basis of preliminary data on the financial result, reinvested earnings for the period are estimated to 124.4 million. Euro, while they are 73.3 million for the same period in 2013. By country, the largest direct investments in Bulgaria for January - September 2014 are from Austria(EUR 284.2 million). The largest net negative flows for the period were towards Luxembourg (EUR -19.6 million). By branch, the largest investments for January – March 2014 were in real estate, renting and business activities (EUR 354.1 million), transport, storage and communication (EUR 246.3 million) and financial intermediation (EUR 159.5 million). By preliminary data of Bulgarian direct investments abroad in January - September 2014 are 243.2 mln. Euro

FOREIGN DIRECT INVESTMENTS IN BULGARIA

Foreign direct investment, January (2015/2016), mln. euro

Source: BNB

Foreign direct investment, (2015/2016), mln. euro

Source: BNB

Foreign direct investment in Bulgaria by Geographical Breakdown, January 2016, mln. euro

Source: BNB

InvestBulgaria Agency handed certificate for investment Class "A" to Integrated Micro-Electronics Bulgaria EOOD

The total value of the certified project is BGN 7,626,000 and it is expected that 400 new jobs will be created in Botevgrad during its completion. Daniela Vezieva, Deputy Minister of Economy, handed a certificate for investment Class "A", issued under the Investment Promotion Act, at an official ceremony today, March 9, 2016 in the building of the Ministry of Economy. The event was attended by Stamen Yanev, Executive Director of InvestBulgaria Agency, and Eric De Candido, CEO of Integrated Micro-Electronics Bulgaria EOOD (IMI Bulgaria). "The development of high technology and the IT sector and the entry of the latter in the rest of our production destinations are the core activities we are focusing on in 2016. So, for me it is a great pleasure to present the first of this year certificate class "A" for the project "Expansion and optimization of technical and logistical capacity" of Integrated Micro-Electronics Bulgaria EOOD", said Mrs. Daniela Vezieva. Integrated Micro-Electronics Bulgaria EOOD is a second level provider and a manufacturer of electronic components and services for producers of original electronic parts. The company offers development and design activities, industrialization and mass production of electrical and electronic parts and devices for automotive, industrial and domestic sectors. IMI Bulgaria develops in parallel its production of plastic parts and components that are used as a component with high added value to the basic product - electronic module. Along with its core business IMI Bulgaria provides design and development of specific


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production equipment for electrical and functional test of the production and equipment for the molding of plastic parts. Through the investment project Integrated Micro-Electronics Bulgaria EOOD will be able to diversify and to add new products to its existing portfolio: management modules for mirror control, ignition coils, exterior automotive light-emitting diode (LED) lights, internal control (heating glass, emergency lights, locking doors, air-conditioner control), regulators for headlamps, modules for the opening and closing of windows, headlamps with additional "Bluetooth" function, modules for electric protection, light switches and others.

Indian-Bulgarian business chamber to support bilateral trade and investments “India is among the fastest developing economies in Asia. The country has a huge local market and is among Bulgaria’s most-important eastern partners. This is something that both parties can take much advantage of in comparison with what has been achieved so far.” Bulgaria’s Minister of Economy Bojidar Lukarski said during the official opening of the Indian-Bulgarian Business Chamber in Sofia. His Excellency Mr. Radjesh Kumar Sachdeva, ambassador of India also attended the event. Minister Lukarski expressed his confidence that the establishment of the chamber will encourage the better realization of the current opportunities between the two countries as well as for the attraction of more Indian investments in Bulgaria. In his view, the food industry, the machine-building sector and the automotive industry are among the economic fields with highest potential in the bilateral relations between the two countries. “Bulgaria is not among the countries with a strong presence on the Indian market but by understanding the potential we pay special attention to the bilateral trade-economic relationships between the two countries” said Minister Lukarski. According to his words, the Bulgarian Ministry of Economy stands firmly behind the chamber and will assist in the expansion of its activities in different spheres of the economy. A mixed Bulgarian-Indian company in the business of packaging liquid bituminous compounds near the city of Mumbai is a good example of a successful Bulgarian investment in India. A large-scale investment project aimed at incorporating Bulgarian Internet technologies in India is another example of a good investment in the country. A joint venture between Indian and Bulgarian companies for development of IT products in the field of mobile applications is also in a process of development. In recent years the bilateral trade between Bulgaria and India has increased significantly from USD 55 million in 2005 to USD 218 million in 2014. http://bnr.bg/

SOFIX: 04.01.2016 – 18.03.2016

Source: bse-sofia.bg

BGREIT: 04.01.2016 – 18.03.2016


BGBX40 TR: 04.01.2016 – 18.03.2016


BGTR30: 04.01.2016 – 18.03.2016



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Deputy Minister of Economy Lyuben Petrov made a symbolic first sod of a Swiss factory in Montana "We stand behind every investor who wants to develop business in Northwest Bulgaria and will assist them in developing a successful business". This was stated by Lyuben Petrov, Deputy Minister of Economy, during the first sod of the plant of the Swiss company "Palemontech" Ltd. in Montana. The first sod ceremony was attended by the Executive Director of InvestBulgaria Agency Stamen Yanev, the Mayor of Montana Zlatko Zhivkov, representatives of the Embassy of Switzerland in Sofia and the Bulgarian and Swiss business. "Palemontech" Ltd. is a Swiss owned and supplies the Swiss firm Max Urech Lager-und Fördertechnik. The company specializes in the manufacture of metal pallet boxes and grid boxes. The production base will be with an initial area of over 5600 square meters. The amount of the investment is BGN 6 million and is expected to create nearly 100 jobs under working conditions in line with the highest international standards. http://www.mi.government.bg/

Bulgarian GDP expanded with 3.1% in Q4 2015 Bulgarian Gross Domestic Product (GDP) expanded with 3.1% in the fourth quarter of 2015 compared to the same quarter of the previous year and with 0.8% compared to the third quarter of 2015 according to the seasonally adjusted data of the National Statistical Institute (NSI). According to the flash GDP estimates for the fourth quarter of 2015, the GDP at current prices amounted to 23 977 million BGN. GVA in the fourth quarter of 2015 amounted to 20 728 million BGN. In the structure of GDP by expenditure the final consumption has the largest share (78.6%), which in nominal terms amounted to 18 835 million BGN. In the fourth quarter of 2015 gross capital formation is 6 335 million BGN and has a share of 26.4% of GDP. http://www.nsi.bg/

Trade between Bulgaria and the EU increases In the period January - November 2015 Bulgarian exports to the EU increased by 8.3% compared to the corresponding period of 2014 and amounted to 26.9 Billion BGN, shows the data of NSI. Main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 69.3% of the exports to the EU Member States. In November 2015 the exports to the EU increased by 1.3% compared to the corresponding month of the previous year and amounted to 2.474

SELECTED DECISIONS OF THE GOVERNMENT

OF THE REPUBLIC OF BULGARIA FOR THE PERIOD

17.02.2016-16.03.2016

March 16, 2016 THE AGREEMENT WITH THE INTERNATIONAL FRANCOPHONE ORGANIZATION TO OPEN ITS OWN STRUCTURE IN SOFIA IS PROPOSED FOR RATIFICATION OVER 100,000 BGN WILL BE INVESTED IN EXPLORING UNDERGROUND NATURAL RESOURCES IN THREE MUNICIPALITIES

March 9, 2016 BULGARIA AND HUNGARY WILL ENHANCE THEIR COOPERATION IN THE ECONOMIC SPHERE THE AGREEMENT FOR CONSULTANCY BETWEEN MINISTRY OF REGIONAL DEVELOPMENT AND THE WORLD BANK IS PROPOSED FOR RATIFICATION

March 2, 2016 BULGARIAN-GEORGIAN AGREEMENT FOR COOPERATION IN THE PROTECTION AGAINST NATURAL DISASTERS IS ESTABLISHED THE MINISTRY OF AGRICULTURE AND FOOD AND THE FRENCH NATIONAL SERVICE FOR AGRICULTURAL AND MARINE PRODUCTS WILL SIGN A PROTOCOL FOR COOPERATION


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February 24, 2016 AGREEMENT BETWEEN THE GOVERNMENTS OF BULGARIA, GREECE AND TURKEY FOR JOINT CONTACT CENTER FOR POLICE AND CUSTOMS COOPERATION IS ESTABLISHED THE BULGARIAN-IRANIAN COMMISSION FOR ECONOMIC COOPERATION WILL HOLD A MEETING IN EARLY MARCH OVER 8 MILLION BGN WILL BE INVESTED IN THE EXTRACTION OF NATURAL RESOURCES FROM "KOLOBAR"

February 17, 2016 BULGARIA AND CYPRUS STRENGTHEN THE COOPERATION IN THE FIELDS OF TOURISM, AGRICULTURE AND SPORT BULGARIA AND PALESTINE WILL CREATE A JOINT COMMISSION TO INCREASE COOPERATION BETWEEN THE TWO COUNTRIES BULGARIA AND INDONESIA WILL COOPERATE IN THE FIELD OF CULTURE

Billion BGN. Bulgarian imports from the EU in the period January - November 2015 increased by 5.9% compared to the same period of 2014 and added up to 30.4 Billion BGN. The largest amounts value-wise were reported for the goods imported from Germany, Italy, Romania, Greece and Spain. In November 2015 the Bulgarian imports from the EU Member States increased by 7.8% compared to the corresponding month of the previous year and amounted to 3.048 Billion BGN. http://www.nsi.bg/

Minister Lukarski: Attracting the Danish company Jysk Bul in Bulgaria is proof that we are a good place for investments Memorandum on investment plan for the construction of large logistics and distribution center in Sofia Economic Area - Bozhurishte was signed between the Danish company "Jysk Bul" EOOD and "National Company Industrial Zones" EAD in a ceremony in the Council of Ministers. The planned investment amounts to about 50 million euro and is expected to grow to 100 million euro. The investment will be realized in the shortest possible time - for the years 2016, 2017 and 2018, and the period for its maintenance is not less than 20 years. The number of employees in the company after the realization of the investment is expected to be 120 people with a tendency to increase up to 200 people, and during the construction phase is expected to employ about 500 workers. Allan Kjaergaard, Executive Vice President of "Jysk Bul", said that Bulgaria has very favorable business conditions for this distribution center, focused on the company’s operations in the Balkan. "I hope to see you at the official inauguration of the center, which will provide services to the entire region," added Kjaergaard. http://www.mi.government.bg/


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UPCOMING EVENTS

15-16 April 2016

Stuttgart, Germany

Invest Stuttgart Leading trade fair and congress for finance and investment

27 April 2016

Sofia,

Bulgaria

Fifth Annual Roundtable “Competitive Economy by ICT Products and Services Export“

28-29 April 2016

Portomaso St Julian's,

Malta The Mediterranean Leadership Summit

1-2 June 2016

Brussels, Belgium

EBS 2016: Together for a better future

17-21 July 2016

Nairobi, Kenya

World Investment Forum

FOREIGN DIRECT INVESTMENTS IN BULGARIA EUR mln.

Net cash flow - annual data

Years 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

2735.9 3152.1 6221.6 9051.8 6727.8 2436.9 1169.7 2118.6 1320.9 1383.7 1339.0 1593.1

Net cash flow – quarterly data

2015'Q1 2015'Q2 2015'Q3 2015'Q4

Quarters 586.0 371.8 617.7 17.5

Net cash flow – monthly data

2015 2016

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

Months 163.0 99.5 196.2 6.4 169.2 164.1 315.6 137.9 98.1 36.7 -117.3 44.9

* Data is updated (as to 17.03.2016) Source: BNB


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