Minister Bogdanov: Bulgaria is a good place for investment and doing business

Minister Bogdanov: Bulgaria is a good place for investment and doing business

The Minister for Economy made the first sod of a new plant for over BGN 107 million near Plovdiv

Bulgaria is a good place to invest and do business. This was stated by the Minister for Economy and Industry Bogdan Bogdanov during the groundbreaking ceremony of an entirely new Schneider Electric plant to be built near Plovdiv in the Trakia Economic Zone. The investment is worth over BGN 107 million and 110 new jobs.

Bulgaria is strategic for the production of the French company, the management of Schneider Electric in Bulgaria pointed out during the event. The ceremony was also attended by the Ambassador of France H.E. Joël Meyer, Deputy Minister for Innovation and Growth Martin Gikov, Executive Director of the Bulgarian Investment Agency Mila Nenova, representatives of the French-Bulgarian Chamber of Commerce, the American Chamber of Commerce in Bulgaria, as well as the municipalities of Plovdiv and Radinovo.

During the ceremony Minister Bogdanov pointed out that the investment of the innovative factory of the French company is an important project for our country because it creates added value in our economy.

‘This project is important because it is the first project that changes the way Bulgaria works with investors. This is the first project in the last 20 years that receives direct state aid not only for the construction of road infrastructure, but direct financial aid for the implementation of this investment’, said Minister Bogdanov. He was adamant that in this way our country shows a change in approach towards investors and that it is an active partner in the construction of large investment projects.

Minister Bogdanov congratulated the team of the Bulgarian Investment Agency, the Trakia Economic Zone and all those who have worked to make this project happen in Bulgaria and not elsewhere in Europe. He expressed confidence that the success of Schneider Electric in our country will set an example for other companies to do business in our country. ‘I am sure that the approach we have towards investors will lead to the transformation of our economy that we are all fighting for’, the minister added.

Schneider Electric’s investment project in Bulgaria is related to a new production facility that will incorporate the latest technologies and new equipment, carbon neutral building materials and the use of renewable sources.

The factory in Plovdiv will assemble, test and package circuit breakers and other low voltage electrical products. It is planned to implement the latest class of software technologies, industrial automation, renewable energy sources, etc.