NEWS

Bavarian business: Bulgaria has a large market potential

Nearly 1000 Bavarian companies with 256 offices and branches are active on the Bulgarian market and Bavaria considers Bulgaria to be an important partner with great market potential. This was highlighted late yesterday at a round table at the Bavarian Chamber of Commerce and Industry, dedicated to the investment climate in Bulgaria. The forum was opened by President Rosen Plevneliev, who is on a working visit to the German federal state.

The crisis provides many opportunities for countries such as Bulgaria that are stable and have a long-term development programme with clear priorities, the President told the participants in the roundtable. He highlighted the support for SMEs, the implementation of e-government in 2015-2016, and the creation of high-tech parks and clusters among the main priorities that are focused on in Bulgaria’s long-term programme. President Plevneliev highlighted some of the amendments to the Investment Promotion Act that will create many new opportunities for doing business in the country. Some of them provide for the state to bear the cost of social security for the first two years, grants for staff training, faster administrative services and ensuring infrastructural support for up to 20 per cent of the value of the investment.

Bulgaria has the right conditions for the development of organic farming, the President told the Bavarian business people. The country is also looking for more efficient management of water resources and the potential of the sector can be successfully developed with the help of EU structural instruments, he said.

It is up to politicians to create conditions for sustainable development. We want to find solutions that achieve results and build trust, the President said.

In Bavaria, the President also met with representatives of the Board of Directors of BMW.

Today, October 19, the President will be visiting the US military base in Hohenfels where Bulgarian troops undergo training.