Minister Nikola Stojanov: German investments in Bulgaria to create 3 500 new jobs

Minister Nikola Stojanov: German investments in Bulgaria to create 3 500 new jobs

Investment projects are launched in the field of automotive components manufacturing and in the field of information and communication technologies, which after successful implementation will create nearly 3,500 new jobs in Bulgaria. This became clear after meetings of the Minister of Economy and Industry Nikola Stojanov with companies from Bavaria.

An automotive company is launching its project in Bulgaria in a few months. This was confirmed during their meeting with Minister Stojanov at their headquarters. They manufacture components and work with some of the largest automotive manufacturers in the world. Minister Stojanov emphasized that the automotive sector has been developing rapidly in Bulgaria over the last decade and a number of foreign companies are investing in it. Currently, nearly 70 thousand people are employed in this industry and a total of 270 companies are working in the sector in Bulgaria. “You can count on full support from the state throughout the planning and implementation of your investment,” said Minister Stojanov, who invited the talks to continue in our country.

Minister Stojanov was also a guest at the headquarters of one of the largest bus carriers in Europe – FlixBus. In 2021, the Bavarian company chose Bulgaria for the opening of its “Knowledge Hub Sofia” – an expertise center of the company with activities ranging from IT and digitization to marketing and accounting. “We are extremely pleased with our investment in Bulgaria and with the talent of Bulgarian IT specialists. It was the staff in your country that was one of the leading reasons why we chose you,” FlixBus management emphasized. The Centre is expected to hire 250 highly qualified specialists, with around 60 currently employed. “Bulgaria is making a concerted effort to attract precisely investments such as yours, which add value and are a driver for increasing competitiveness and people’s incomes,” Minister Stojanov stressed. He also pointed out that he is glad that in competition with 6 other countries, the Bavarian company has chosen our country and added that at any moment his door is open to discuss current problems or plans for new expansion in our country.

Investment opportunities in Bulgaria were presented at a meeting of Minister Nikola Stojanov and the Family Business Foundation in Germany. Our country is an increasingly attractive location for investment, it became clear during the meeting. Many German companies, due to the challenges of the war and the Covenant, are looking for a closer location of their production to their main markets in Europe. At the same time, a number of companies from Germany have already chosen our country and shared positive experiences. Among them are FESTO, Würth, Ottobock SE, Liebherr and others. “Bulgaria is working consistently to respond to your interest, but our country today is looking for investors who are not just creating new jobs, but who will drive growth for years to come,” Minister Stojanov said, stressing that the government’s priority is to raise people’s incomes, including by attracting employers who will offer competitive remuneration. He said incentives from the state should no longer be given for the number of jobs, but for their quality.

Minister Stojanov also presented the Bulgarian industrial zones as locations with added value for new investments. He also highlighted the upcoming changes in the investment process in Bulgaria, including a new Investment Act. “Every strategic investor in Bulgaria will receive the full assistance of the institutions to go through all administrative procedures as quickly as possible,” Minister Stojanov was adamant.

The Family Business Foundation comprises over 500 family-owned companies with an average turnover of €1.6 billion per year and an average number of 7,000 employees per company. Most of these companies are located in North Rhine-Westphalia, followed by Baden-Württemberg and Bavaria. More than half of the large family-owned enterprises are located in the manufacturing sector.