NEWS

The Head of State: Bulgaria Has Become a Preferred Destination for Making Investments in High Technologies

In the past years Bulgaria has become a preferred destination for setting up companies or opening outsourcing centers of leading firms in the high technologies sector, such as HP, SAP, IBM, Cisco, Oracle, R&M. This is what President Rosen Plevneliev said at a business forum attended by approximately 70 representatives of the Swiss business circles in Bern.

The companies in this sector report an annual increase of 10 percent of their sales volume and of 4.8 percent of the employees in the IT sector. The Bulgarian companies in the branch export goods and services worth more than 1.2 billion euros a year, it became clear during the forum. It was also pointed out that the Sofia Tech Park project, which is being implemented, will also make its contribution to scientific research, to the introduction of innovations and the development of technological opportunities in Bulgaria.

In the President’s view, the recognition of our country as producer of components for the car industry also creates conditions for a more active partnership with well-established Swiss companies. “The production in this sector in Bulgaria is worth 1.5 billion euros a year and currently eight out of ten cars in Europe have components produced by Bulgarian companies,” Rosen Plevneliev recalled.

The leader in the production of cars, Germany, shows a growing interest in the car industry in Bulgaria, Rosen Plevneliev further emphasized and highlighted the cooperation between the governments of Bulgaria and Baden-Wurttemberg in implementing the Auto Park Bulgaria project in the town of Vidin. The project will also be financed with funds provided by the EU Strategy for the Danube region.

“We managed to preserve the advantages our country has as an attractive investment destination, despite the economic crisis,” Rosen Plevneliev further said in his statement. The Head of State emphasized that Bulgaria is gradually overcoming the consequences of the crisis and reports a growth not only of the GDP, but also of export.   “Our goal is to increase the amount of direct foreign investments by establishing strategic partnerships,” the President said.

Although the Swiss investments in Bulgaria were worth approximately 1.3 billion euros in the 1996-2013 period, the new framework of economic partnership creates conditions for reaching much higher levels, the Head of State thinks. “We will fully implement the Swiss experience in building a system of vocational education and we are grateful for the offered support,” Rosen Plevneliev said. In the President’s view, the partnership model between the Bulgarian and Swiss business circles may turn our country into a center for Swiss investments in the region of Southeast Europe. The Head of State also highlighted the opportunities provided by the region of Southeast Europe, which has been working hard to ensure cohesion and integration.

The President assured the representatives of the Swiss business circles that Bulgaria is actively working to introduce e-government, which is the surest means to reduce the administrative load and to promptly and efficiently service the companies.