The region could become a logistics and intermodal hub, the minister said
‘Twenty-five million leva will be invested in the development of Vidin Industrial Park. Currently, a project has been prepared for funding by the National Company of Industrial Zones (NCIZ). The state will provide 20% of the funds and the remaining 80% is provided for under the Recovery and Sustainability Plan.’ This was announced by the Minister of Economy and Industry Bogdan Bogdanov in Vidin after a meeting with the mayor of the city Dr. Tsvetan Tsenkov and the regional governor Ivo Atanasov. At the meeting the opportunities for attracting investors and the future economic and industrial development of the region were discussed. Minister Bogdanov stressed that the development of Northwest Bulgaria is a priority of the government.
According to him, the construction in the industrial zone managed by NCIZ is to start this year, and the amount will be invested in the internal infrastructure and in the preparation of the site itself. ‘Vidin Industrial Zone is connected to rail transport, a port and is close to Danube Bridge 2. All this gives the region an opportunity to develop as a logistics and intermodal hub,’ the minister said after visiting the site.
Bogdanov highlighted the potential that Vidin has. He discussed with the mayor the creation of a local unit to work on attracting investors and to present the advantages and opportunities for projects in the region. ‘We need to have people prepared so that we can speed up the investment process,’ Bogdanov added. These investment units in the country will be assisted by the Ministry of Economy and Industry, the National Industrial Zones Company and representatives of the Trade and Economic Affairs Offices (STIV).
Minister Bogdanov: We are investing BGN 25 million for the development of Vidin Industrial Park. ‘Securing funding for the Vidin industrial park is another step by the government to promote the development of the region,’ he said. Minister Bogdanov announced, as a measure to reduce regional imbalances in the country, the fact that in the North-West region the thresholds for granting state aid for investments are the highest. ‘The region can get up to 60% of the capital costs when attracting an investor,’ the minister recalled.
‘We continue to work actively with local government representatives. We need to create a working industry so that people stay in the region and those who work outside it return,’ Bogdanov was adamant.
During the meeting, he pointed out that after the visit to the production base of LB Bulgaricum in Vidin, earlier in the day, the priority will be the modernization of production and the possibility to open a class for dual training, which will be financed by the company.