NEWS

Rosen Plevneliev: The Favorable Business Environment and Efficient Institutions Will Motivate Investors to Choose Bulgaria

Only by encouraging investments can we quickly create new and well-paid jobs and the favorable business environment and efficient institutions are of crucial importance for motivating investors to choose Bulgaria.  This is what President Rosen Plevneliev said, who opened a Bulgarian-Austrian business forum together with his Austrian counterpart Heinz Fischer in Sofia Hotel Balkan today.

The Head of State emphasized that Austria is Bulgaria’s strategic partner and the Austrian companies working in the country are more than 400 and are represented in all sectors of the Bulgarian economy – telecommunications, car industry, information and communication technologies, energy, food chains.  “Not only world-famous Austrian companies such as OMV, EVN, Austria Telecom are strongly represented in Bulgaria, but also small and medium-sized companies which achieve remarkable results,” the President said. The Head of State recalled that the bilateral trade exceeds one billion euros and the amount of investments from Austria has reached six billion euros.

We are working together on new large-scale projects and we will pay special attention to and fully support every investment made by Austria in Bulgaria, the Head of State emphasized. Rosen Plevneliev pointed out that OMV, the French company Total and the Spanish Repsol have obtained a concession for natural gas extraction in Bulgaria’s Black Sea shelf and the planned investment is worth more than 1.5 billion euros. “Soon Bulgaria will launch other concessions and we are convinced that together with our Romanian partners and world leaders such as OMV, EVN and other Austrian and European companies we will find alternative energy sources not only for Bulgaria, but also for Europe which we will exploit and supply to the European markets together,” the President emphasized.

The Head of State said that despite the difficulties the Bulgarian economy has been experiencing in the past years, it has achieved growth and can obtain much better results if the Bulgarian politicians work to ensure stability. “In 2015 we expect an economic growth worth 1,5 percent, the unemployment rate will approximate the EU average – less than 11 percent, the deficit will surely be less than the three-percent limit,” the President told representatives of the business environment. Rosen Plevneliev also highlighted the positive change of the structure of the investments in Bulgaria, 90 percent of which have been directed toward the real economy and the opening up of new production facilities. “I am convinced that from 2016 onwards we can achieve a growth worth three to four percent if we ensure stability and increase the transparency and predictability of the work of the institutions,” the President said.  

In the statement he made at the forum, the Head of State further highlighted Bulgaria’s strategic location as a bridge between the EU and the regions in Southeast Europe, the Black Sea and the Middle East. “We are willing to derive benefits from this location and we are working to open 25 new industrial zones, which will be open to all companies seeking a quick access to all these markets,” Rosen Plevneliev further said. The President emphasized that companies such as Siemens, Bosch and AEG have already doubled their production capacity in Bulgaria.

In Rosen Plevneliev’s words, the forthcoming development of Bulgaria’s transport infrastructure also provides opportunities for partnership with leading Austrian companies and gave as an example the construction of a 15,2 km-long tunnel in the Kresna defile as part of the future Struma highway.

In the statement he made at the forum, President Fischer said that political stability and continuity lie at the basis of Austria’s economic achievements.  “This means that the state should create all conditions – ensure the legislative framework and access to investments for the business environment, which, for its part, should alone decide what approach it will adopt to its clients and partners,” Heinz Fischer said.  The Austrian Head of State confirmed our country’s support for introducing the model of dual vocational education in Bulgaria.