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The Deputy Minister Vezieva presented strategic analysis and concept for attracting investors of the InvestBulgaria Agency
 
July 6, 2016

The regional policies should become operational and leading with respect to the investment process and economic development,  this is declared by the Deputy Minister of Economy Dessislava Vezieva who together with Stamen Yanev,  Executive Director of InvestBulgaria Agency /IBA/ presented strategic analysis and concept for attracting investors prepared by IBA. “The investment process is a complex one and requires long-term planning; the business environment, business climate and economic processes are related not only to the national policies but also to the implementation at regional level “, Vezieva said.

The concept for attracting investors foresees focusing on and selection of priority sectors, countries and companies, preparation of direct foreign investments profile,  creating of target marketing, as well as building of integrated economic network between Bulgarian and foreign investors, the Deputy Minister explained. She pointed out that from the analysis made in IBA seven technological profiles have been selected where there is actual potential for investments. These seven sectors are: production of computer devices, of electric equipment, machines and facilities, textile and clothing, chemistry, rubber and plastic products, agrifood industry. “These activities completely cover the four thematic fields in the Strategy for smart specialization “, she added.

The Deputy Minister of Economy outlines as strengths for attracting investors in these seven technological sectors the tradition in these sectors, the good return on capital, the availability of established educational structure, including the vocational training, the low production costs, the export orientation, the outstripping growth of Bulgarian export, as well as the well-developed subcontracting activiti4s of small and medium enterprises.

Vezieva pointed out that the InvestBulgaria Agency will operate in close relation and collaboration with the regions. “The regions have specified in which sectors they wish to develop and the projects and objects that they have selected will be promoted if there is interest expressed by the investors “, she announced.

The Executive Director of the InvestBulgaria Agency, Mr. Stamen Yanev declared as a priority of InvestBulgaria Agency attracting investors in the high tech industries and to the benefit of the regional development policies. “Bulgaria will present itself as a high tech hub between the East and the West “, he said.

Since the beginning of the year 9 projects have been certified as priority ones the investments in which will result to the opening of more than 3 thousand new jobs,  and until the end of the year the objective is to certify two times more projects compared to the previous year – this is at least 24 projects. “The applications submitted up to now to InvestBulgaria Agency are 19 and they foresee opening of about 6 thousand new jobs and there is potential for more candidates“, Yanev also said.

The Deputy Minister Vezieva and Stamen Yanev expressed their expectations that in this year more direct investments will be implemented in Bulgaria compared to the previous year.

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