The automotive industry in the country reports a turnover of EUR 4.3 Billion, accounting for 11% of the country’s GDP. This was announced by the Minister of Economy and Industry Nikola Stojanov during the official ceremony of the Investor of the Year Awards. He said that over 300 companies operated in the automotive sector last year, providing nearly 67,000 jobs.
Minister Stojanov presented the award in the category ‘Investment in Business Expansion’ to Witte Automotive Bulgaria EOOD. The company is among the technology leaders in the field of mechatronic locking systems. Their products are used by many of the leading automakers.
‘In days of political crisis and a number of challenges facing our economy, we need to realize how important it is to create and maintain a good investment climate in Bulgaria,’ Nikola Stojanov said. He stressed that the main priority for the Ministry of Economy and Industry is to improve the business environment in the country, and all priorities in this area are being worked on in coordination with the Ministry of Innovation and Growth.
The Minister of Economy also pointed out several individual examples that show that Bulgaria continues to be among the most attractive investment destinations in the region, amid so many global challenges.
The event was attended by the President of the Republic of Bulgaria Rumen Radev, Deputy Prime Minister for Social Policies and Minister of Labour and Social Policy Lazar Lazarov, ministers, deputy ministers, representatives of the management of the Bulgarian Investment Agency and others.
For the 17th consecutive year the Bulgarian Investment Agency organizes the official ‘Investor of the Year’ awards. During the event, the most significant investment projects implemented in 2022 are highlighted. The awards are given to companies that have made a significant step in their development through sustainable and efficient investments, created new jobs and relied on the implementation of high technologies.