News

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.

The German company for automotive cable installations Leoni plans an investment of 32 million euro and ensuring of 2000 jobs in Pleven town’s region. That was announced during the first shovel turned at the factory in the presence of the vice prime minister Tomislav Donchev, deputy minister of economy Lachezar Borissov, the mayor and governor of Pleven Georg Spartanski and Miroslav Petrov, executive directors of Leoni and others.

“Throughout the first six months of 2018, the bilateral trade between Bulgaria and the Republic of Korea equals values of nearly 135 million USD, reaching a nearly 80% increase compared to the same period of 2017. This value includes 40.5 million USD export from Bulgaria and 94.2 million USD import from Korea.” This was announced by Minister Karanikolov on the occasion of the Republic of Korea’s National Day celebration.