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InvestBulgaria Agency / IBA / and fifteen of the Bilateral Chambers of Commerce and Industry jointly organize an international video conference to present Bulgaria as a new “nearshoring” destination worldwide on January 28, 2021, under the patronage of the Ministry of Economy. The conference is part of an overall initiative conducted over the last half year, which aims to position Bulgaria as an excellent destination for production relocation in the process of shortening supply chains /nearshoring/.

Bulgaria is among the 4 countries in the EU with the smallest economic downturn in the second quarter and in the top 3 in financial stability, based on the government debt ratio relative to GDP. Our country is number one in terms of credit rating in the Balkans. This was stated by the Minister of Economy Lachezar Borisov in a speech to the participants in the Annual Conference with the Ambassador Extraordinary and Plenipotentiary and the Permanent Representatives of Bulgaria. He took part in the videoconference thematic discussion “Diplomacy in support of the Bulgarian economy”, according to the Ministry of Economy.

The Minister of Economy Lachezar Borisov handed three Class A investment certificates under the Investment Promotion Act (IPA) at a total value of nearly BGN 70 million and the creation of 340 new jobs. The official ceremony at the Ministry of Economy was also attended by Deputy Minister Stamen Yanev.

“Solvay Sodi” AD received a certificate for an investment project related to installation, production, packaging and storage.

The Minister of Economy Lachezar Borisov presented four Class A investment certificates, issued under the Investment Promotion Act. The value of the projects is BGN 110 million. In official ceremony at the Ministry of Economy the Deputy Minister of Economy Stamen Yanev gave the awards to representitives of the companies The Minister pointed out that with these four projects since the beginning of the year under the Investment Promotion Act certificates for investment class have reached a total of 18 projects, at a total amount of BGN 415.2 million, have with the potential to create 2602 new jobs.

The Ministry of Economy would like to announce that A Guide for SMEs has been published on the website of the Ministry of Economy. The Business Guide has been specifically designed to facilitate the entrepreneurs’ search for information and access to legislation, and to help businesses in the process of dealing with the most complicated administrative procedures in Bulgaria.

The Ministry of Economy of Bulgaria and the European Investment Fund (EIF) have concluded negotiations to launch a new investment programme, a combination of reflows from JEREMIE operations and EIF resources, to target investments in and alongside of venture capital, private equity funds investing in Bulgaria. The new investment programme, called INVESTBG EQUITY, also aims to attract significant private and institutional capital to invest in the expansion and internationalisation of Bulgarian-based companies.

For the past 10 years, the Bulgarian export to China has increased tenfold, and only for the first six months of 2018, it has grown by 10% compared to the same period in 2017, amounting to $ 366.7 million. This was stated by the Minister of Economy, Emil Karanikolov, during his visit to the Bulgarian stand at the First Issue of the Chinese International Import Expo /CIIE/, that takes place in Shanghai.

A German company is investing 15 million EUR and will create 1000 new jobs near the town of Lovech. “VOSS Automotiv” plans on starting production within six months from now. That became clear during the company’s official presentation in Bulgaria, where the Minister of Economy, Emil Karanikolov, was present.

The Minister of Economy Emil Karanikolov said this in his appeal during the Fourth meeting of local leaders under the “16+1” initiative, which was held in Sofia. The forum was opened by the Prime Minister Boyko Borissov where representatives of local authorities and more than 300 representatives of businesses from China, Bulgaria and countries from Central and Eastern Europe were present. The meeting was organized by the Ministry of the Bulgarian Presidency of the Council of the European Union and the Head of the Region of Sofia.

The number of employees in the automotive industry continues to increase, now exceeding 50 thousand. The total revenue in 2017 generated by this sector is nearly 2.5 billion euro and represents 5% of Bulgaria’s GDP. This was stated by the Deputy Minister of Economy, Lachezar Borissov, at the International Conference “Automotive Forum Sofia 2018”, organized by Automotive Cluster Bulgaria.