InvestBulgaria Agency

Transcription

November 2013
issue 2 (2), year 1
Monthly
Electronic Publication
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
Economic News - Business, Investments,
Trade
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Analysis of Sector
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Investment Opportunities of Municipality

Interview


Chamber of Commerce in Bulgaria
Macroeconomic Indicators
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Upcoming Events
INVESTBULGARIA AGENCY
To meet the needs of investors and to maintain good business environment are key
priorities of the Bulgarian government
Anna Yaneva
Deputy Minister of Economy and Energy
In the period 2005 - 2009 she was elected Deputy
Minister in charge of "Economics" in the Ministry
of Economy, Energy and Tourism.
She was Secretary General of the Committee on
the Use of Atomic Energy for Peaceful Purposes
and Member of Parliament in the 41st National
Assembly.
From 2009 to 2012 she was a member of the
standing committee on "Economy, Energy and
Tourism."
She graduated from the Commercial High School in
Sofia and Master in "Management and
organization of Material-technical supply" in the
Higher Institute of Economics "Karl Marx."
Our efforts are aimed at maintaining macroeconomic and financial stability and reducing the administrative
burden on businesses. One of our main priorities is the promotion of sectors with high added value for improving
the competitiveness of the Bulgarian economy.
The package of incentives, which we offer investors, is competitive in regional aspect. The focus of our work will
continue to be on attracting investments - conducting proactive investment marketing. Our strategy to attract
investors is based on clear priorities in terms of target countries and target industries, of which Bulgaria seeks to
attract strategic investors. Target determination linked to program implementation is a prerequisite for good
results.
Along with this we also work for optimization of administrative services, improvement the coordination of IBA
InvestBulgaria Agency (IBA), 31 Aksakov Str., Sofia 1000
Tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320, e-mail: [email protected], http://www.investbg.government.bg
Issue 2 (2)/ November 2013
with other institutions and local authorities to improve the quality of the investment service. Successful model for
investors encouraging requires central administration and regional structures and local authorities to work
together to provide quality and timely service for each investment project. For large investment projects
coordination and competent assistance in all stages of the investment process is of particular importance.
What deserves special attention is that investors, which have received a certificate under the Law on Investment
Promotion, now expand their presence in Bulgaria, as some of them have already issued a second and even third
certificate. Such investors are Lufthansa Technik Sofia Ltd., Knauf Bulgaria Ltd., Devnya Cement Jsc., Trakya Glass
Bulgaria EAD, SOK Kamchiya Jsc. and Witte Automotive Bulgaria Ltd. This means that companies appreciate the
business conditions and incentives that the Law on Investment Promotion provides.
Annual Awards “Investor of the Year” 2013
InvestBulgaria Agency (IBA) organized for the eighth time the annual awards "Investor of
the Year" 2013. The aim of the event is to honor the most significant investment projects
carried out in Bulgaria in 2013.
Specially appointed committee will review all nominations and determine the companies
that will be awarded at a ceremony in January 2014.
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e-mail: [email protected], http://www.investbg.government.bg
EVENTS ORGANIZED BY IBA IN OCTOBER
InvestBulgaria Agency met the business in Veliko Tarnovo
On October 31st, 2013 a round table organized
by InvestBulgaria Agency was held in Veliko
Tarnovo. The event brought together current
and potential investors in the region,
representatives of municipalities, regional
centers, business and media.
At the beginning of the meeting IBA’s large-scale
project that promotes Bulgaria as an investment
destination abroad, was presented. The new
CEO of the Agency Svetoslav Mladenov
discussed with representatives of the business,
state and local government plans to attract more
investors and create new jobs in the city of Veliko Tarnovo and the region. He presented the Agency's work and
stressed that it is important to maintain an ongoing dialogue with stakeholders. They are supposed to work
effectively in order to be supported and facilitated by the government.
Important issues related to approaches to attract new investors in the North Central Region were concerned in
the course of the discussion. The district administration noted that interest in investing in the region comes
mainly from Bulgarian investors, rather than foreign ones, which is worrying. The general opinion of those present
was that holding more frequent meetings would help promote the region's potential and attract more investors.
The agency presented its project to prepare an investment catalog aimed at informing potential investors of the
business climate in different regions of Bulgaria. Thus, IBA urged those present to assist with providing additional
information for making the end material complete. Mr. Mladenov thanked the Municipality of Veliko Tarnovo and
expressed the willingness of the Agency to work actively with the Bulgarian municipalities in order to make
Bulgaria an attractive investment destination.
Round table hosted by InvestBulgaria Agency was held on Bulgarian economic forum
2013
Round table, hosted by Mr. Svetoslav Mladenov,
Executive Director of InvestBulgaria Agency (IBA),
focused on ‘Investment Promotion: Overcoming
Legal, Non-legal and Administrative Barriers Facing
the Business’ was held on 14 November 2013.
The panel was part of the Bulgarian economic
forum: “Let’s talk about economy growth
generators”.
Representatives of different institutions from
Southeast Europe took part in the round table:
Mr. Milos Jovanovic, Director, Montenegrin
Investment Promotion Agency (MIPA), Mr. Hristian
Ilievski, Deputy Director of Agency for Foreign
Investments and Export Promotion of the Republic
of Macedonia, Ms. Edit Gyenge, Adviser to Minister
Dan Sova, responsible for Department for
Infrastructure Projects and Foreign Investments, Romania, Mr. Tibor Nemet, Head of Trade Department, Embassy
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of Hungary, Ms. Stefka Slavova, Alternate Director for Poland, Bulgaria and Albania. Board of Directors, EBRD).
Mr. Plamen Dilkov, CEO, PVB Power Bulgaria.
Mr. Svetoslav Mladenov has outlined the
barriers facing business and the actions
needed to be undertaken in order to
overcome obstacles. The policy of
attracting and promoting long-term
investments, as well as the ways for
creating more favorable business climate
were discussed during the panel. Mr.
Mladenov shared with the audience that
IBA organizes regular meetings with
business, state and municipalities
representatives, where strategies for
attracting
new
investments
and
facilitation of easier administrative
procedures are discussed.
Mr. Mladenov expressed his expectations
and hopes for further close cooperation
between promotion agencies in the
region.
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MEDIA FOR INVESTBULGARIA AGENCY
Svetoslav Mladenov: InvestBulgaria Agency is the universal PR for Bulgaria
„InvestBulgaria Agency (IBA) is the universal PR for
Bulgaria”, Mr. Svetoslav Mladenov, IBA’s executive
director in Bulgaria On Air ‘s show Investbook said.
IBA is working with the government quite well,
added Mr. Mladenov. He explained that the IBA has
received a few big projects from the Ministry of
Economy and Energy, which will be included in the
investment catalogue, expected to be issued soon.
The catalogue will consist of comprehensive
information on the investment climate in Bulgaria
and possibilities for investments in different sectors
of Bulgaria’s economy.
bgonair.bg, photo: bgonair.bg, 31.10.2013.
Investors are not afraid of refugee wave and political instability
Investors are not interested in problems with refugee wave. When they decide to invest, economic stability,
country’s territorial organization and presence of experts in different sectors are the things that matter. It is not
expected refugee wave to reflect on investments in Bulgaria because our country is getting international support
to solve the problem. This is what Svetoslav Mladenov, InvestBulgaria Agency’s CEO said, cited by Focus Agency.
Refugee wave has encompassed not only Bulgaria but also other European countries. Thus the matter has to be
inspected both from its exterior and interior side. Externally we get serious support from the EU and from other
countries. They help us financially and also give us practical advice how to deal with a matter of such scale that
Bulgaria is getting familiar with for the first time in recent years.
In his opinion all this is assessed by investors in terms of support that the country gets and in terms of its
membership in the EU and the fact that it has a stable currency board. That is to say that both financial and
economic stability is sufficient argument for
investors to continue to look ahead, Mladenov
added.
At the moment the biggest investors in Bulgaria are
the Netherlands, Austria, Greece, UK and Germany.
Investors’ interest from Russia, Ukraine, Switzerland
and Italy has appeared in last months, the Agency’s
CEO says.
In an interview with Trud, he states that investors
are not worried by political instability in the
country. ‘In the last three months there has been
increased investment interest. Out of 163 projects
registered in the agency, 48 have been examined in the last three months. On the other hand, it is a global
process. Investors are tired of traditional markets in Europe. Bulgaria together with several other Balkan countries
are distinguished with the fact that here things are in a process of development. Investors see opportunities for
realization of profits, explains he.
No radical changes in the Law on Investment Promotion are envisaged. It has proved that attracts investments,
Mladenov points out. His comment is a response of announced by Vice-president Daniela Bobeva removal of part
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of the alleviations for large investors, as the state cannot afford it. Mladenov has not explained which alleviation
namely will be dropped. He said that at the moment a review is being made in order to find out which of these
the state can really do. Mladenov also announced that mayors are also thought of being engaged with attraction
of capitals. This is necessary as the Agency’s employees cannot handle by themselves. In addition IBA does not
have representatives abroad.
The Agency is working on six investment projects - automobile and chemical industry. Until the end of the year we
hope that we will have results with all six projects, Mladenov concluded.
Source: Dnevnik, http://www.dnevnik.bg, photograph: Yulia Lazarova, 11.11.2013
InvestBulgaria Agency is working for facilitation of procedure for issuing of certificates
InvestBulgaria Agency’s CEO Svetoslav Mladenov announced during Bulgarian economic forum that the agency is
working on mitigation of procedures for issuing of several certificates, connected with initial documentation that
has to be prepared by investors.
Twelve forms that have to be filled in when an enterprise is registered are united into a single paper. In that way
investors save time and registration procedure is considerably shortened, Mladenov said.
The agency has started an information campaign aimed at informing investors of ongoing events in Bulgaria’s
economy and up-to-date legal changes.
The reason is that big part of investors comes to Bulgaria with negative attitude. They believe that conditions for
doing business in the country are hampered largely by the economic indicators, administrative rules and chaotic
situation, Mladenov explained.
BGNES, www.vesti.bg, 14.11.2013
Svetoslav Mladenov to meet investors in USA, 19-22 November 2013
InvestBulgaria Agency’s CEO Svetoslav Mladenov will take part in a
Bulgarian delegation led by the Minister of Economy and Energy
Dragomir Stoynev, departing to the United States for a visit in
Washington D.C. from November 19th to November 22nd. BEH’s
CEO Boyan Boev, CEO of Nuclear Regulatory Agency Lachezar
Kostov and NPP Kozloduy’s CEO Ivan Genov also joined the
delegation.
Within the working visit development and prospects for deepening
of bilateral trade and economic relations between Bulgaria and the
US will be discussed. The delegation will have high-level meetings
with representatives of American administration at the State
Department and the Department of Commerce.
A workshop aimed at presenting favorable microeconomic conditions in Bulgaria and the country’s advantages as
an investment destination will be organized with representative of 15 corporations. All of them are members of
the based in Washington D.C. Business Council for International Understanding – BCIU.
mi.government.bg, 18.11.2013
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Svetoslav Mladenov: Businessmen is USA still know little of Bulgaria
American investors want to hear now that Bulgaria is economically stable, well-positioned in the EU, with
prospects, Svetoslav Mladenov said.
From the meeting with American companies, members of Business Council for International Understanding in the
US, InvestBulgaria Agency’s CEO Svetoslav Mladenov got the impression that Americans know little of Bulgaria
and of business conditions in the country. They were even quite impressed by facts that both minister of the
economy Dragomir Stoynev and Svetoslav Mladenov shared with them.
This is what impressed me the most, provided that there always have been ways to inform business in the States
on chances for investment in Bulgaria, Svetoslav Mladenov said before Focus.
Asked what did he tell Americans for Bulgaria and what is the most important thing that American business has to
know about our country, Svetoslav Mladenov pointed out that in his opinion American investors and businessmen
wanted to hear that Bulgaria is stable at present. They wanted to be sure that our country is economically stable,
well positioned in the EU and that it has prospects for development.
„These are the things that I think they became certain of via facts that we presented. These are membership in
NATO and The EU, stable currency board, stable and good to a greater extent fiscal policy, as well as good
conditions for investment, IBA’s CEO summed up.
Svetoslav Mladenov is in the United States as part of a delegation led by minister of the economy and energy
Dragomir Stoynev.
http://www.komentator.bg, 21.11.2013
Svetoslav Mladenov: American business wants stability in order to invest in Bulgaria
Washington. American business wants security in
order to invest in Bulgaria. This is what InvestBulgaria
Agency’s CEO Svetoslav Mladenov said in an interview
with Focus Agency, after a meeting with
representatives of 15 corporations, members of
Business Council for International Understanding in
USA. Representatives of American business are
interested whether Bulgaria is economically stable
now, if it is well positioned in the EU and whether it
has prospects for development. ‘We acknowledged
them with Bulgaria’s membership in the EU and
NATO, with our stable currency board, with our good
and stable fiscal policy and with good investment
conditions that we offer as a country. All these are related to measures that have been improved or developed in
our country such as a 10% flat tax, 0% corporate tax, increased investment in training of people so that human
resources can be distributed more evenly geographically’, Svetoslav Mladenov added. He also said that after the
meeting with representative and members of Business Council for International Understanding in the US, it
became clear that big part of American companies are not well informed of investment possibilities in Bulgaria.
www.focus-news.net, photo: AFP, 21.11.2013
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ECONOMIC NEWS - BUSINESS, INVESTMENTS, TRADE
ECONOMIC INDICATORS
Investment is research for biotechnological
pharmaceuticals goes over USD 10 million
For the last five years more than USD 10 million has been invested in
wide range of clinical research for biotechnological drugs in the
country. They are direct investments in Bulgarian healthcare. This was
pointed out by Doctor Krasimira Chemishanska, general manager of
Amgen for Bulgaria at a scientific conference on Innovations in
biotechnologies-medicine of the future.
She pointed out that at present four out of every five new
pharmaceuticals in a process of development are biotechnological.
Their share is expected to increase seriously in future.
At the moment about 20% of all pharmaceuticals worldwide are
produced by the methods of biotechnology, as they insure chances for
more efficient treatment of more than 350 million patients in the
world. More than 300 of them are in clinical use, approved by
regulatory agencies. About 900 are the new molecules that are in a
different stage of clinical research.
Foreign Direct Investments
Source: BNB
BNB exchange rates
investor.bg, 31.10.2013
Swiss giant opens sensors plant in Sofia
Swiss electric giant LEM opened a new BGN 3 million high-tech factory
in the Bulgarian capital Sofia. The investment in the enterprise is to the
amount of nearly BGN 3.2 million (CHF 2 million). The factory is located
in Sofia’s neighborhood Nadezhda at an area of 4 500 square meters.
The factory in Sofia will produce converters and sensors that are built
into key security technical solutions such as elevators, electrical
systems and others.
Initially the plant will employ 40 people, which will increase to 80 after
6 months. The number of employees is scheduled to increase to 400 by
2018.
Decision to come to Bulgaria was exceptionally important for us, LEM
Group’s CEO François Gabella said. Among factors for the choice of the
country he pointed out political and economic stability, high
qualification and exclusive motivation of workforce.
Source: BNB
Main Interest Rate
0.02% - 01.11.2013
Source: BNB
capital.bg, standartnews.com, 01.11.2013
South Stream Gas Pipeline to fetch Bulgaria EUR 2.8 B
by 2043
Unemployment Rate
11.2% - October 2013
Bulgaria expects revenues of EUR 2.8 B from the South Stream gas
pipeline in the period 2013-2043, according to Economy and Energy
Minister Dragomir Stoynev.
Speaking after a meeting with Gazprom CEO Alexei Miller and Russian
Energy Minister Alexander Novak, he assured that Bulgarian citizens
carried no financial risk for the implementation of the South Stream gas
pipeline.
"We are not required to provide bank guarantees. This is a good step
which will help us lead the country out of the crisis," Stoynev stated.
Source: NSI
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BAI Stock Exchange-Sofia
"A large part of the work will be carried out by Bulgarian companies,
which will generate employment. There will be work for Bulgarian
companies which are in a difficult situation. The annual interest rate is
4.25%. The repayment period for the loan of the Bulgarian Energy
Holding (BEH) will be 22 years," he said.
Monthly Turnover 11.2012-11.2013
novinite.com, 01.11.2013
Bulgarian confectionary maker Prestige 96 opens a
new factory
Leading pastry manufacturer Prestige 96 moved the production of all
its products into a brand new plant in Veliko Tarnovo. Since the
beginning of 2013 the confectionery manufacturer has been
producing all of its product range in a new 28 400 square meter
modern factory.
The investment in construction of the plant and implementation of
quality control equipment is of a total value of BGN 30 M. Other BGN
20 million is planned for investment. „Bulgarian market is of
importance to Prestige 96 and the company will continue to develop
itself”, said the enterprise CEO Anastassios Panayotopoulos at the
official opening ceremony. The plant is one of the best not only in
Bulgaria, but in Eastern Europe. We are proud to be based in Veliko
Tarnovo namely, the CEO added.
The factory was officially inaugurated on Thursday. “We intend to
continue investing in new and powerful production technology in
order to expand our product range”, pointed out the chief executive.
Source: BSE-Sofia
BGREIT: 01.11.2013 – 29.11.2013
Source: Investor.bg
BG40: 01.11.2013 – 29.11.2013
novinite.com, 01.11.2013
Bulgarian brewer Zagorka plans to invest over EUR
4.0 mln in 2014
Bulgarian beer maker Zagorka, part of Dutch group Heineken, plans to
invest over EUR 4.0 million in its brewery in Stara Zagora, in the
southeast of the country, in 2014, said Nikolay Mladenov, CEO in an
interview. In October Zagorka opened in Stara Zagora a BGN 2.0
million warehouse. The 3,000- square meters facility is the first of its
kind for the whole Heineken group.
“We have more green initiatives that we plan to develop connected
with green logistics, green office," Mladenov said. "Coming up are
major upgrades in the brewery, where we plan to once again go
green.”
Source: Investor.bg
SOFIX: 01.11.2013 – 29.11.2013
seenews.com, 04.10.2013
Source: Investor.bg
11 new enterprises are being developed in Trakia economic zone
Trakia economic zone turns out to be one of Bulgaria’s biggest economic projects. It is being constructed at an
area of 10 700 000 square meters in the region of Plovdiv and unites good experience of industrial-commercial
zone Marica, industrial zone Rakovski, industrial-commercial zone Kuklen and potential features of park
Education and high-tech-Plovdiv, industrial zone and high-tech center Trakia and agro center Kaloyanovo.
In the next 10 year TEZ is expected to attract additional investment to the amount of EUR 750 million. In that
way 30 000 jobs are to be created. Lots with a total area of 7 450 thousand square meters have development
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plans and infrastructure in the six zones. “We greatly depend on small
and medium Bulgarian investors rather than on foreign companies”,
engineer Panchev stresses. At present eleven projects are being
developed in Trakia economic zone. Part of them is at a stage of planning
while others are before completion. Intensive negotiations are being
lead with three new investors for projects assessed at about EUR 300
million. They show great interest in zones Kuklen and Rakovski, doctor
engineer Nikola Dobrev added.
Stroitelstvo.info, 04.11.2013
Increase in investments in metallurgical industry
Production of metallurgical industry is realized successfully in foreign
markets and forms a major share of 16% in the total volume of goods
exported from Bulgaria. Despite the economic crisis the industry for
production of basic metals in Bulgaria can boast on growing turnover and
investment in the sector. The profit per employee in the sector has
increased almost three times in the last years. In comparison to other
sectors of manufacturing industry, metallurgy is distinguished with the
highest labor productivity, where growth was almost double. Share of
added value also doubled. Deputy Minister of Economy and Energy Anna
Yaneva stressed on these issues during celebration of the 50th
anniversary of the "Day of Metallurgist”. In her words the anniversary
celebration itself is a significant fact in the history of an industry, even
more so when it is successful.
Selected Decisions of the
Government
of the Republic of Bulgaria
for the period 30.10-20.11.2013
20.11.2013
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13.11.2013
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mi.government.bg, 06.11.2013
Freight train corridor from Prague to Sofia and
Thessaloniki becomes operational
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Bulgaria became part of European Rail Freight Corridor 7, which began
operating on Friday at 12 o’clock. This was announced by National
Railway Infrastructure Company’s press center. The route of Freight Rail
corridor 7 passes along the axis: Prague-Vienna/ Bratislava-BudapestBucharest-Constanta-Vidin-Sofia-Thessaloniki-Athens.
The seven European countries: Czech Republic, Slovakia, Austria,
Hungary, Romania, Bulgaria and Greece with their infrastructure
managers and a single authority for distribution of capacity founded the
corridor that connects Central and South Eastern Europe. It serves as a
tie to Asia via Black sea and Aegean Sea ports that offers good, reliable
service based on the harmonized technical and procedural conditions.
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standartnews.com, 11.11.2013
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Bulgaria and Romania strengthen
cooperation in the field of
information technology and regional
development
Minister Papazov will head the
Bulgarian delegation to the session of
the Assembly of the International
Maritime Organization
Approved results of a meeting of EU
ministers responsible for trade
Industrial
Minerals
BG"
gets
concession for extraction of nonmetallic minerals
A legal framework for the
introduction
of
complex
administrative services
Minister Stoynev will participate in
the forthcoming session of the WTO
A working group to attract and
promote investment intentions in
tourism
06.11.2013
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Sicom, Italy has invested EUR 4.5 million in a plant
New industrial factory was officially opened in Industrial park Ruse.
Major shareholder in Balcantsink JSC is Italian company Sicom. The
investment is to the amount of EUR 4.5 million and will create new 30
work places. Galvanizing and manufacturing of metal products will be
performed in the plant. Mayor of Ruse Plamen Stoilov, deputy regional
manager Milena Hinkova and the stakeholders Maria Manchini and
Giuseppe Fortuna attended the event.
InvestBulgaria Agency has new
organizational rules to optimize the
administration of the two structures
Government bill will be coordinated
with BORKOR
Adopted
report
on
the
implementation of the measures in
the National Reform Programme
Ratification is proposed for MoU with
U.S. for technical assistance
Bulgarian position on the meeting of
Ministers
responsible
for
EU
Cohesion Policy is approved
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A working group for the preparation
of the Bulgarian host of the 16th
annual meeting of the Board of
Governors of the Black Sea Bank
A new protected area for the
conservation of wild birds
Bulgaria and Qatar will develop
cooperation in the field of sport
Agreement between Bulgaria and
Germany for the mutual provision of
property ownership has been
proposed for ratification
New ordinance regulates the
requirements for separate collection
and recycling of electrical and
electronic equipment
Approved measures taken by the
Minister of Economy and Energy for
stabilization of VMZ JSC
EU finance ministers will seek
stroitelstvo.info, 11.11.2013
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page 10 of 26
Preferences for companies hiring new personnel
The companies, which create new jobs in regions with unemployment
at least 25% higher than the average for the country will be allowed to
retain up to 100 per cent of the corporation tax. This is stipulated to be
part of the changes in the Corporate Income Tax Act, announced by
Deputy Minister of Finance Liudmila Petkova. Ms. Petkova explained
that at least 50% of work places which companies create, should be in
manufacturing activities and minimum 30% of the personnel must have
permanent address in the municipality with high unemployment. 16
more new municipalities are included in the list of regions with high
rate of unemployment. Thus their total number is 160.
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30.10.2013
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Premier Plamen Oresharski opened the 15th Bulgarian
economic forum
Sofia is the venue of the 15th Bulgarian economic forum. This edition
focuses on “Considering generators of economic growth”. Prime
Minister Oresharski officially opened the forum in Sheraton.
The major goal of the government is creating conditions for economic
development through restoring macroeconomic and fiscal activity.
Measures for cutting contraband channels are also envisaged, added
Mr. Oresharski. The forum has brought together 500 experts, the
delegation from Serbia being the largest.
bnr.bg, 14.11.2013
Solvay Sodi will invest new BGN 55 mln
agreement
with
the
European
Parliament on the draft budget for 2014
Government has proposed changes to
the Forest Act to better protect the
interests of Bulgarian citizens and
business
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expanded the number and size of
protected areas for the conservation of
natural habitats and wild fauna and flora
Bulgaria develop cooperation in the field
of youth and sports with Slovakia and
Ukraine
Strategy for Development of National
Statistical System in Bulgaria aims to
produce
and
distribute
quality
information
From January 1, 2014 the minimum
wage became BGN 340
Bulgaria and Ukraine will intensify their
cooperation in investment promotion
Additional funds for tobacco growers
and producers of fruit and vegetables to
be given
Budget 2014 to stimulate economic
growth in the medium term 2014
Pensions in 2014 will be updated under
the Swiss rule
Interagency
Working
Group
will
coordinate
consideration
of
the
investment project Destination Rila
Plant for production of soda ash in Devnya Solvay Sodi, part of the
Belgian group Solvay will invest BGN 55 million in a new facility that is
to considerably decrease the company’s expenditures and will have big
environmental effect. The new distillation column will reduce steam
consumption greatly. The investment has been approved a few weeks
ago and is expected to be completed until 2015. This was announced
during the presentation on the occasion of Solvay’s 150th anniversary.
The project is part of the measures taken by the Belgian group for
savings and optimization of their production in Europe in a time of
slowdown of major markets and expectation of a new player in the
sector in the next years.
capital.bg, 14.11.2013
Bulgaria’s GDP in 2014 up by 1.6%, IMF foresees
The International Monetary Fund /IMF/ expects a GDP growth of 1.6
percent for Bulgaria for the next year and inflation of 1.8 percent.
According to the IMF there are risks for the economic recovery of the
state, but the governmental forecast of a 1.8 percent growth can be
reached and depends mainly on reforms in healthcare and retirement
System. The IMF assesses highly the governmental measures for
improvement of business environment. Fund experts don’t have any
concerns about the intentions of the government to increase public
debt at the end of 2013 and the beginning of 2014.
bnr.bg, 15.11.2013
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Standard Profil – Bulgaria will double the
capacity and staff
Bulgarian Stara Zagora-based company Standard Profil
won a major project that includes the construction of
the full range of rubber seals for the new model of
Opel – Astra, company CEO Petar Angelov announced
for the economic portal of Stara Zagora. As one of the
leading companies in production of rubber seals in
Europe, Standard Profil has won the trust of giant
Daimler and will also equip some of its SMART models.
These two long-term contracts will double the capacity
and staff of the Bulgarian firm.
"We are completing a new production hall of 700
square meters and next year we will build another new
factory of an area of 5,000 square meters” Angelov
said. The total investment to build the new facilities
and equipment was approximately BGN 2 million. The
company's staff in present is 1,000 people.
Minister Stoynev: Bulgaria seeks US
energy investor
Bulgaria can attract U.S. investments in energy sector.
This will probably be discussed at the meeting of the
Minister of Economy and Energy Dragomir Stoynev
with U.S. companies General Electric and
Westinghouse, which are planned within the minister's
visit to the U.S.
"We have to ensure the stability of the energy system
in the long term, we need to look for decades ahead.
This means we have to have a very clear analysis of
what capacity will be required in Bulgaria after 20
years and will have to focus our efforts to diversify
energy supplies ," Stoynev said in the National Security
Council at the White House.
page 12 of 26
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INVESTMENT PROJECTS IN A PROCESS OF REALIZATION
ABB Bulgaria
Bulgarian subsidiary of Swedish-Swiss concern ABB
ABB, a company that produces equipment for electrical grid and industry will invest about USD 23
million in a new factory in Bulgaria. The new factory will be the fourth one of ABB in Bulgaria. It will
be located on the region of Plovdiv and will insure products for low and medium voltage. The
enterprise will create 600 new jobs that will add to the number of present employees of ABB
Bulgaria. Thus, their number will reach 1800 people. Production base will be constructed on an area
of about 15000 square meters. Its launch is planned for the end of 2013. It’s the second huge
investment of ABB in the region of Plovdiv. The first capacity was built in 2009 and at present
employs more than 700 people.
BHTC – Behr-Hella Thermocontrol SPLTD
between German companies Behr and Hella
The company will complete a new for Bulgaria investment in a plant for production of devices for
servicing and management of air-conditioning installations for cars and trucks of renowned world
famous car producers- Mercedes, Audi, BMV, Lamborghini, and Bentley. The future factory will be
located in the economic zone Sofia- Bozhurishte at an area of more than 75 000 square meters. Builtup area is expected to reach 22 000 square meters. It’s the first project of the company in Eastern
Europe. Planned investment is to the amount of BGN 42.5 million. Thus, 350 jobs will be created. The
project is certified as Class A in April 2013. The factory is expected to be ready towards the first half
of 2014.
WITTE Automotive SPLTD, Ruse
part of WITTE Automotive Group, Germany
During the present year the company, which has been producing locking systems for cars since 2010
in Ruse began expansion of its manufacturing capacities via construction of a production workshop
with an area of 8000 square meters. BGN 7.5 million will be invested in the first stage of the project.
As a result more than 270 jobs will be created. In February 2013 the company was awarded with a
certificate for investment class A for this project. The new factory is expected to be opened in the
end of 2014.
page 13 of 26
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Partner for investors in Bulgaria
National Company Industrial Zones (NCIZ) is a 100 % state-owned company specialized in
industrial park development, management of industrial zones and innovation centers and
provision of additional services for investors. The company encourages investments in sectors with
high added value and develops industrial zones in line with the latest international standards. The
advantageous terms on which it offers industrial terrains and the competitive investment
environment in the country form an outstanding opportunity for foreign investors seeking to
expand their business.
A total of 8 projects:
•
•
•
6 584 500 m² total area
842 580 m² built-up area
225 500 m² open warehouses
Three developed industrial zones:
•
•
•
Ruse
Vidin
Svilengrad
Five zones on early stages of development:
•
•
•
•
•
Sofia – Bozhurishte Economic Zone
Burgas
Karlovo
Telish (Pleven)
Varna West
Ruse Free Zone
Total area: 370 235 m²
Location:
•
•
•
•
800 m to the East of Danube Bridge connecting
Bulgaria and Romania
Right next to the port of Ruse – the biggest river
port in Bulgaria
Junction of two Pan-European Transport
Corridors
Infrastructure:
•
•
•
•
Well-developed roads
Electricity and gasification
Water and sewerage
Telecommunications
page 14 of 26
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Vidin Free Zone
Location:
•
•
•
On the bank of the Danube river next to Danube
bridge II (Vidin-Calafat), a freight port and a ship
terminal
Located on two borders – land with Serbia and
river with Romania
Junction of Pan-European Transport Corridors
Infrastructure:
•
•
•
Well-developed road network
Electricity
Water and sewerage
Svilengrad Free Zone
Location:
•
•
•
2 km to the border with Greece
50 m to railway connections with Turkey and
Greece
Access to the Pan-European transport corridor
connecting Europe with Turkey
Electricity
Water and sewerage
Sofia-Bozhurishte Economic Zone
Total area: 2 550 000 m²
• Advanced manufacturing facilities
• High-tech industry base
• State-of-the-art administrative buildings
• Comprehensive transport and logistics center
•
•
•
Immediate proximity to major international
roads and EU transport corridors
Distance to Sofia City Center – 15 km
To Sofia Airport – 23 km
Direct connection with the railway network
Infrastructure:
•
•
•
•
•
•
•
•
•
The second-biggest city on the Bulgarian Black
Sea Coast
10 km to Burgas Airport
4 km to Burgas harbour
2 km to a Turkey-bound highway
Infrastructure:
•
•
•
Electricity
Water and sewerage
Telecommunications
•
In the geographical center of Bulgaria
Full access to:
•
•
•
•
•
•
International road
Railway network
Water and sewage
Electricity
Telecommunication networks
Coverage by all wireless providers
Industrial Zone Telish - Pleven region
Total area: 2 036 638 m²
Location:
•
•
In immediate proximity to the main road SofiaVarna
On the main road Sofia-Ruse
Infrastructure:
Location:
•
Industrial & Logistics Park – Burgas
Total area of the park: 238 000 m²
Location:
Industrial Zone Karlovo
Location:
Infrastructure:
•
•
•
Electricity
Gasification
Water and sewerage
Telecommunications
•
•
•
•
•
International road
Railway network
Electricity supply
Water and sewerage
Telecommunication network
Industrial Zone Varna – West
Location:
•
•
•
•
•
Near the largest Black Sea city in Bulgaria
35 km to Varna
28 km to Varna Airport
18 km to Varna – West port
11 km to a highway bound to Black Sea
Infrastructure:
•
Proximity to gas, electricity, optics, and all
transportation networks
www.industrialzones.bg • [email protected] • 1, Angel Kanchev Str., 1000 Sofia, Bulgaria
Tel.: +359 2 8 902 902 • Tel./Fax: +359 2 9 871 684
page 15 of 26
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ANALYSIS OF SECTOR "CHEMICAL INDUSTRY"
Sector "Chemical Industry"
Number of companies, number of employees in the sector
„Manufacture of chemical products (NACE20)“ 2008-2011
Top companies in the sector by number of employees
Number of employees
Company
14885
15000
13713
12836
12758
1100
13500
12000
900
10500
9000
700
7500
6000
500
4500
527
507
485
477
3000
300
1500
0
100
2008
2009
2010
Number of employees
2011
Number of companies
Number of companies, number of employees in the sector „Manufacture of
rubber and plastic products (NACE 22)“ - 2008-2011
30000
2000
26105
27000
23755
21292
21834
1900
24000
1800
21000
18000
1700
15000
1600
12000
1500
9000
1497
1600
1505
1515
2008
2009
2010
2011
1400
6000
1300
3000
0
1200
Number of employees
Assets
Sales (BGN mln)
Company
2010
2986
2793
2753
2725
2500
1316
1463
1398
1942
1899
1820
1812
2000
1392
812
1000
820
810
791
500
Manufacture of chemical products (NACE 20)
2011
2010
2009
2008
2011
2010
2009
2008
0
Manufacture of rubber and plastic products (NACE 22)
Net sales - 2008-2011 BGN mln
3000
2500
2012
Top companies in the sector by sales income
DMA
3500
1500
2011
Number of companies
Assets of the companies in the sector - 2008-2011, BGN mln
3000
2010
Manufacture of refined petroleum products (NACE 19.2)
Lukoil Neftochim Burgas JSC
2 024
1 827
1 770
Prista Oil Holding SPJSC - Sofia
336
289
258
Polysan JSC - Rousse
110
140
154
Neochim JSC - Dimitrovgrad
1179
1265
1352
Dunarit JSC - Rousse
577
554
677
Agropolychim JSC - Devnya
662
670
669
Solvay Sodi JSC - Devnya
572
508
509
Orgachim JSC - Rousse
467
439
455
Manufacture of pharmaceuticals and medicinal products (NACE 21)
Sopharma JSC - Sofia
1 826
1 871
1 987
Biovet JSC - Peshtera
1 636
1 667
1 858
Balkanpharma Dupnitsa JSC
677
802
1 084
Balkanpharma Razgrad JSC
323
349
421
Balkanpharma Troyan JSC
313
320
370
Manufacture of rubber and plastic products (KID 22)
Standard Profile Bulgaria SPJSC Stara Zagora
538
667
1 270
Plastchim T JSC - Tervel
773
822
932
Gotmar SPLTD - Saedinenie (Pd)
944
848
895
Assenova Krepost JSC - Asenovgrad
652
697
721
Vidachim JSC - Vidin
658
629
630
2318
2307
1955
2000
1839
1764
1570
1459
1500
1609
1000
500
2011
2010
2009
2008
2011
2010
2009
2008
0
2011
2012
Manufacture of refined petroleum products (NACE 19.2)
5 462
6 738
8 220
Polysan JSC - Rousse
57
134
183
Prista Oil Holding SPJSC - Sofia
180
155
125
306
439
479
301
344
393
160
284
252
Astra Bioplant SPLTD - Slivo pole
67
106
183
Dunarit JSC - Rousse
45
33
68
Manufacture of pharmaceuticals and medicinal products (NACE 21)
212
231
214
89
166
202
128
125
179
Servier Bulgaria SPLTD - Sofia
43
46
47
Balkanpharma Troyan JSC
32
31
44
75
111
114
Gotmar SPLTD - Saedinenie - Pd
100
98
108
Hamberger Bulgaria SPLTD - Sevlievo
45
53
63
Vidachim JSC - Vidin
53
61
59
Standard Profile Bulgaria SPJSC
27
50
61
The data for the sector Manufacture of refined petro-products (NACE
19.2) and the sector "Manufacture of medical materials and our
products (NACE 21) is confidential.
page 16 of 26
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Chemical industry in Bulgaria traditionally develops in the following
Authors: Hristo Etropolski
and Nikola Manzelov,
sectorial experts –
Chemistry, products of
mineral resources, mining
and quarrying, energy,
utilities
sub-sectors:
•
•
•
•
•
•
Petrochemistry
Organic and non-organic chemical products and fertilizers
Pharmaceutical industry
Perfumery, cosmetics and household chemistry
Paints and varnishes
Plastic and rubber products
After the crisis of 2008 – 2009, export of enterprises in the chemical
industry has registered stable growth in the last several years, which is
evident from statistical data for the period 2009 -2012:
Hristo Etropolski
EUR mln
Export
Chemicals substances and products*
Petroleum products **
Total chemical industry sector
Export EUR mln
share in total exports
2009
899.5
1190.8
2010
1239.4
1661.1
2011
1616.0
2225.6
2012
1723.8
2928.3
2090.3
17.9%
2900.5
18.6
3841.6
18.9%
4652.1
22.4%
Sources: * NSI, ** BNB
Or in total export of chemical products and oil products in 2012 reached 22, 4% of Bulgaria’s total
exports.
To a greater extent these results can be explained by the fact that most companies of the sector, both
enterprises with foreign participation and those that are fully Bulgarian, implement active marketing
policy and successively complete their investment program for modernization, reconstruction and often
expansion of production capacities.
Leading enterprises in the sector-short list
Subsector / Enterprises
Petroleum products
- Burgas (part of LUKoil)
Products
Revenues in
BGN
million.*
Number of
employees
Petroleum products - fuels,
bitumen, vacuum residue,
LPG, polypropylene
8220,2
1825
Petroleum products,
waterproofing materials
183,3
154
Motor and industrial oils
125,4
258
Bio diesel, vegetable oils
183,2
124
Polysan JSC - Ruse
Prista Oil Holding SPJSC Sofia
Astra Bioplant SPLTD - Slivo
pole
page 17 of 26
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Chemical products
Mineral fertilizers
(part of Solvay Group)
Soda ash-light and heavy,
baking soda
Mineral fertilizers
Agria JSC – Plovdiv
479,2
669
393,2
509
252,5
1352
Preparations for plant
protection
59,4
207
Paints and varnishes
84,0
455
Industrial gases
37,0
91
Drugs and medical products
214,4
1987
- Dupnitsa (part of Actavis
Group)
201,7
987
Veterinary medical
products, medical products
for human use
179,2
1858
101,2
(for 2011)
474 (for 2011)
27,2
261
8,6
92
114,5
932
107.9
895
61,2
1270
47,7
612
47,3
721
Orgachim JSC - Rousse
Air Liquide Bulgaria SPLTD,
Pirdop (part of Air Liquide)
Cosmetics, household chemistry
Ficosota Synthes Ltd Shumen
Detergents, cleaning and
polishing preparations
Aroma JSC - Sofia
Perfumes and cosmetic
products
Perfumes
Lavena JSC - Shumen
Rubber and plastic products
Gotmar SPLTD - Saedinenie Pd
Standard Profile Bulgaria
SPJSC - Stara Zagora
(subsidiary of Standard
Profil Otomotiv)
Megaport Ltd - Varna
Assenova krepost JSC Asenovgrad
Plastic foils and flexible
packaging
Plastic packages
Rubber sealants for
automotive industry
Polymer foils and packages
Polymer packages and
materials
* Source: Bulgarian Enterprises Information System /BEIS/
page 18 of 26
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INVESTMENT OPPORTUNITIES OF MUNICIPALITY
Varna Municipality
Area:
Mayor:
Tel:
e-mail:
Web site:
Varna Municipality
Population
Leading companies by sales
income (BGN thousand)
Leading companies by profit
(BGN thousand)
Projects carried out in the
Varna Municipality (Projects
implemented in the
municipality of Varna, in the
area of public functions)
237,5 sq. km.
Ivan Portnih
+359 52 /820-280
[email protected]
http://www.varna.bg
Total for Varna Municipality
2010
2011
2012
Population (number)
330 001
343 643
343 602
Birth rate, (number)
554
401
-42
Mechanical growth - total (number)
274
-65
1
Working-age population, number
217 854
Company
2010
Naftex Petrol SPLTD
1 083 733
Energo-Pro Sales JSC
730 748
Energo-Pro Grid JSC
225 926
Oktopod Invest Holding SPJSC
183 766
Navigation Maritime Bulgare (Navibulgar) JSC
304 946
Company
2010
Energo-Pro Grid JSC
-183
Navigation Maritime Bulgare (Navibulgar) JSC
-2 152
Agro - Svetozar Dichevski ST
11 197
Comfort LTD
13 955
Melrose Resources Bulgaria SPLTD
-4 744

Building of high-tech park - Varna

Creating investment center within the medical university

Completion of technology transfer office
225 682
2011
1 342 477
794 743
295 831
216 147
273 813
2011
8 815
-5 100
12 024
15 288
8 332
225 145
2012
1 352 280
844 754
398 905
186 281
194 943
2012
11 649
7 676
7 479
7 256
7 019
Varna is the third largest city in Bulgaria, covering an area of 205 sq. km. Its location on the northern coast of the
Black Sea and rich natural resources make it one of the most famous resorts in Europe and the largest in the Black
Sea region. At the same time it is on the crossroads between the Middle East and Western Europe.
Varna will plan 205 projects with an estimated value of their realization of BGN 1.1 billion for the next 7 years.
Varna municipality will rely on EU funding amounting to 49% of the total to provide financial resources, about 7%
of the state budget, 9% own financing and 14% of other investment funds. Involvement of private investors in the
implementation of the plan is planned to reach about 21% of its total value. According to the integrated plan for
urban regeneration and development of the city during the programming period 2014-2020, Varna will be
developed as a major national center for growth. (Source: Capital Daily)
page 19 of 26
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Varna Province
Area
Population
Economic
indicators and
labor market
3818 sq. km.
Total for Varna Province
Population (number)
Natural increase - from 1000, ‰
Total for Varna Province
Employees under labor contracts (number)
Average annual salary of employees under labor contracts (BGN)
Economic activity rate - 15-64 years (%)
Employment rate - 15-64 years (%)
Unemployment rate (%)
Registered unemployed as to 31.12. (number)
GDP (BGN mln)
GDP per capita (BGN)
Foreign direct investment in non-financial enterprises, as at 31.12.
(EUR mln)
Cost of acquisition of long-term tangible assets (BGN million)
Turnover (BGN mln) *
Produced output (BGN mln) *
Value added at factor cost (BGN mln) *
1)
2009
465 465
0.5
2009
164 943
7 159
67.3
64.4
4.3
16 179
2010
465 100
-1.1
2010
150 670
7 533
66.3
60.8
8.2
16 243
2011
474 344
-1.5
2011
149 361
8 144
64.1
57.5
10.3
17 379
4463.8
4464.191
4873.94
9613
9595
10270
1 640.3
1 531.5
1 500.6
1 402.4
13 170.6
7 648.8
2 527.8
1 119.6
13 865.8
7 691.1
2 524.9
1 091.1
14 880.0
8 354.6
2 697.5
1) Incl. purchase of land
* Data are calculated by the methodology of Structural Business Statistics
Source: NSI
page 20 of 26
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INTERVIEW
Interview with Mr. Serg Shcmit
CEO of Italcementi Group Bulgaria
Italcementi Group is one of world’s leaders in cement industry and the
biggest producer of cement in Bulgaria. You entered Bulgarian market in 1998
through the purchase of Devnya Cement. How much have you invested in
Bulgaria so far?
Italcementi Group is presented in Bulgaria through its subsidiaries Devnya
Cement, Vulkan Cement, Lyulyaka Materials and Devnya Limestone (a jointventure with Solvay Sodi JSC). Thus, your country is a key market for future
development and investment. In the last ten years the company has invested
more than BGN 400 million in Bulgaria, which makes it one of the biggest foreign investors in the
country. This includes acquisition of existing production capacities, as well as considerable investment in
modernization of factories, aimed at increase of productivity and quality standards. Besides, the
company invests in improvement of working conditions in order to guarantee that all facilities are
designed, maintained and exploited in a way that minimizes health risks and keeps employees and
workers safe at all levels of the organization.
This means that Italcementi Group has made one of the most colossal industrial investments in
Bulgaria for the last decades and is one of the biggest investors in Bulgaria. Are you content with
conditions for business development in our country?
My personal impressions for investment climate in Bulgaria are exceptionally positive. I believe that this
country has a big potential for growth and development not only in our sector but in others as well. As a
whole, Bulgaria is distinguished with financial and political stability. It has key geopolitical location with
its access to the Black sea. The country represents a peculiar crossroad between Europe and Asia, which
is extremely important for our company.
Devnya Cement is the second largest current investment of Italcementi in Europe. As far as I am
concerned, until now this is the most essential project as it is one of the biggest investments made in
Bulgaria in the last 25 years. It also confirms Italcementi’s certainty in the future of Bulgarian economy
and development of infrastructure. Moreover, strategic location of the plant, situated next to Port
Varna-West, opens doors before Devnya Cement to turn into one of the most important exporters for
countries in the Black sea basin and neighboring countries. The project is assessed to a total of about
BGN 325 million. In April 2013 we were awarded with an Investor Class A certificate on the matter.
What obstacles have you met in you activity so far? Do you get support from the state and what
are your recommendations in order to do business easier here?
From the start of the project in 2012 state institutions (Government, Ministry of Economy and Energy,
Ministry of Regional Development, Varna’s regional administration, etc.), as well as local authorities
(Devnya municipality, RIEW-Varna and so on) have been quite pro-active in support of our project. We
got priceless cooperation by InvestBulgaria Agency, too. The latter facilitated and speeded up
bureaucratic procedures on receiving the Investor Class A certificate. In my opinion, fields where the
state has to focus are speeding up of bureaucratic procedures for projects introducing the best existing
technologies, such with most innovative processes and systems for safety and environmental
page 21 of 26
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protection. It has to insure conditions of equality to all participants on the market. This is the only way
to guarantee loyalty of competitiveness.
Last year construction of a new production line for manufacture of clinker and cement that utilizes
the so called dry method was started. It will replace the old technology under the wet method.
Would you like to tell us more about the facility? When do you expect to launch the new
production capacity?
For us the investment is an extremely important step ahead that is to introduce the latest, most
innovative technologies in production of cement in Bulgaria. Moreover, by replacing the wet method of
production of clinker with the dry one, Devnya cement will accomplish striking results as far as
environmental protection and safe working conditions are concerned. These are to fall in line with the
latest adopted European norms in the field. This makes me and the rest of the employees in Italcementi
Group extremely proud. The new facility Picture 1: Location of the new production facilities in
will have huge effect on local, regional Devnya Cement (marked in blue)
and national level. It will let the company
continue responding to requirements for
demand of cement on the domestic
market in support of the growing need for
infrastructure projects, roads, bridges, as
well as big diversity of residential and nonresidential constructional activity. We
expect that the new production facility
will be launched by the end of 2014.
What do you think of local specialists?
Is there shortage of qualified
employees in your sector?
I believe that there are lots of experts in
Bulgaria, not only in our sector but also in
the other industries. I am sure that workforce in the country is plenty and has quite high potential. People
are qualified and can easily be trained to perceive working standards and requirements of a multinational
company like ours. I firmly believe that human capital is the sole competitive advantage that distinguishes
the company and determines its success. Italcementi‘s major priority is development of personal skills and
competencies of each employee and improvement of management for accomplishment of higher results for
the company as a whole. Our efforts are directed to development of our employees’ potential, improvement
of their skills and enrichment of their experience and knowledge. We strive to improve working conditions
and raise living standard for them and their families.
page 22 of 26
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AMERICAN CHAMBER OF COMMERCE IN BULGARIA
American Chamber of Commerce in Bulgaria
1766 Sofia, Bulgaria Mladost 4 Area,
Business Park Sofia, Building 2, floor 6,
Tel: (359 2) 9742 743, 9742 744, 9742 745;
Fax: (359 2) 9742 741
e-mail: [email protected]
Web: http://www.amcham.bg
American Chamber of Commerce in Bulgaria Fosters a
Strong Business Community in Bulgaria
The American Chamber of Commerce in Bulgaria
(www.amcham.bg) is a leading business organization
uniting over 300 American, Bulgarian and international
companies operating in the country. The Chamber was
established in December 1994.
The American Chamber of Commerce’s mission is to
strengthen the economic relations between U.S. and
Bulgarian commercial enterprises within the framework
of the U.S. - European transatlantic economic relations,
as well as to further improve the business climate in
Bulgaria.
AmCham Bulgaria is an affiliate of the U.S. Chamber of
Commerce and a member of the European Council of
American Chambers of Commerce (AmChams in
Europe).
For 19 years now, AmCham has been the network of the
leaders of the American, Bulgarian and international
business community. Through the meetings we arrange
and the publications we produce, we keep our members
abreast of legislative changes, offer advice on economic
matters and provide information of newfound business
opportunities within Bulgaria and abroad. We lobby on
behalf of our membership and advocate for their
legitimate interests. Our members continued interest in
the organization serves as a testament to the Chamber’s
role as the ideal venue for lobbying and networking
opportunities.
AmCham Committees
AmCham fosters special Committees whose scope of
activity includes tackling issues which directly or
indirectly affect the operations of our member
companies, as well as developing positions that
AmCham as an organization can then take further to key
decision makers.
AmCham Committees are driven by the active
involvement and mutual cooperation between
members for developing new ideas, sharing experiences
and, ultimately, achieving common goals.
AmCham Tax Committee is engaged in promoting a
modern tax framework based on best international
practices, facilitating the correct and transparent
implementation of the tax legislative system, and
enhancing stability and predictability in the tax
system to support the positive development and
growth of the Bulgarian economy.
The Human Resources Committee provides a
platform for HR professionals and consultants from
multi-national and local companies to discuss
relevant sector specific issues and legislative
changes, and share knowledge about the latest
trends in the HR sector.
The mission of the Corporate Social Responsibility
Committee is to encourage and facilitate
responsible business practices among AmCham
members and to support them to improve the
quality and effectiveness of their CSR programs and
actions.
Public Procurement and EU Funding Advisory
Committee. Promotes a transparent and modern
public procurement framework based on best
European and other international practices,
facilitates
the
correct
and
transparent
implementation
of
the
Bulgarian
public
procurement law.
Quality Management Working Group fosters the
importance of quality control and standards for
organizational management improvement and
successful business.
Energy & Mineral Resources Committee monitors
legislative and policy developments in the energy
sector in Bulgaria and the implementation of the
European legislation with the ultimate goal to be
useful and influential on the policy dialogue with the
government and the development of a sustainable
and efficient energy strategy.
page 23 of 26
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Publicity
Our monthly AmCham Bulgaria Magazine provides indepth coverage of a variety of themed issues, hot
business topics, economic analyses and coverage of the
chamber’s activities. We distribute 2,500 copies to
members, Bulgarian government and key contacts in
Bulgaria and abroad.
AmCham Bulgaria Yearbook
AmCham members meet regularly throughout the year
discussing the relevant issues of the day with influential
governmental officials, MPs, key figures within the
private sector.
Due to our good relations with the U.S. Embassy, we
have been successful in representing U.S. business
interests within Bulgaria.
Our Members
The good corporate reputation is one of the most
important criteria for membership. AmCham Bulgaria
brings together reputable companies and organizations
from all economic sectors. The Chamber unites law and
consultancy firms, advertising and PR agencies, nonprofit and educational organizations, engineering and
construction firms, chemical and pharmaceutical
manufacturers and distributors and financial
institutions. The AmCham community also includes
companies from within the transportation & logistics
sector, consumer goods manufacturers and distributors,
service providers, travel agencies, IT companies as well
as industrial and office equipment suppliers. All these
business interests, both American and Bulgarian, share
a common sense of community and a determination to
help improve US - Bulgarian economic relations.
The AmCham Yearbook is up-to-date and sophisticated
business guide. It is a valuable reference guide for both
current members and potential members with an active
interest in the Bulgarian market.
AmCham Daily News
Every morning AmCham members receive a summary of
the local news highlighting recent developments in the
world of business, politics and international relations.
AmCham Bulgaria Website
On www.amcham.bg you can find detailed information
about the American Chamber of Commerce – activities,
list of members, upcoming events and announcements,
reports, Chamber’s committees, media coverage and
archive of past events.
Visit Europe tourism guide bi-monthly
AmCham-s of Bulgaria, Croatia, Czech Republic,
Hungary, Romania, and Slovenia have agreed to
cooperate in development of a monthly online regional
tourism guide Visit Central and Southeastern
Europe where AmCham Bulgaria members can put
forward their services to the regional AmCham
members through the AmCham network.
page 24 of 26
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MACROECONOMIC INDICATORS
Foreign Direct Investments in Bulgaria
EUR mln
Year
2001
903.4
2013
Quarter
2013
Month
2002
980
2003
1850.5
2013'Q1
476.4
I
97.8
II
192.7
III
185.9
Net cash flow - annual data
2004
2005
2006
2007
2008
2735.9 3152.1 6221.6 9051.8 6727.8
Net cash flow – quarterly data
2013'Q2
2013'Q3
211.6
Net cash flow – monthly data
IV
V
VI
VII
VIII
-94.2
129.5
176.3
118.8
43.8
2009
2010
2011
2012
2436.9 1151.2 1330.2 1480.5
2013'Q4
166.4
IX
X
XI
XII
3.8
Source: BNB
Main economic indicators EU-Bulgaria-USA
European Union
Bulgaria
USA
GDP (purchasing power parity)
$ mln
15 970 000 [2012]
105 500 [2012]
15 940 000 [2012]
%
-0.3 [2012]
0.8 [2012]
2.2 [2012]
$ thousand
35.1 [2012]
14.5 [2012]
50.7 [2012]
%
-1.6 [2012]
1.2 [2012]
3.2 [2012]
Mln
230 [2012]
2.585 [2012]
155 [2012]
%
10.3 [2012]
11.1 [2012]
8.1 [2012]
% of GDP
n.d.
-0.5 [2012]
-6.9 [2012]
% of GDP
n.d.
16.2 [2012]
72.5 [2012]
%
2.6 [2012]
3 [2012]
2.1 [2012]
$ mln
-34 490 [2011]
542.8 [2012]
-487 200 [2012]
$ mln
2 170 000 [2011]
26 820 [2012]
1 564 000 [2012]
$ mln
2 397 000 [2011]
31 500 [2012]
2 299 000 [2012]
$ mln
863 800 [2011]
20 500 [2012]
150 200 [2012]
$ mln
15 500 000 [12m 2012]
50 540 [12m 2012]
15 930 000 [12m 2012]
$ mln
n.d.
52 990 [12m 2012]
2 723 000 [12m 2012]
$ mln
n.d.
1 923 [12m 2012]
GDP - real growth rate
GDP - per capita (PPP)
Industrial production growth rate
Labor force
Unemployment rate
Budget surplus (+) or deficit (-)
Public debt
Inflation rate (consumer prices)
Current account balance
Export
Import
Reserves of foreign exchange and gold
Debt - external
Stock of direct foreign investment - at home
Stock of direct foreign investment - abroad
4 507 000 [12m 2012]
Source: CIA /www.cia.gov
page 25 of 26
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UPCOMING EVENTS
December
2013
Bulgaria
InvestBulgaria Agency (BIA) will publish in the first
half of December
Investment Catalogue of Bulgaria
The aim is to gather investment projects to be brought to the
attention of Bulgarian and foreign investors.
The catalogue will be a printed edition and will be available on the
website of the Agency. It will be distributed by the IBA and other
government institutions.
3
December
2013
British Academy
of Film and
Television Arts,
London
5
December
2013
China, BEIJING
10
December
2013
Sofia,
Bulgaria
10-11
December
2013
Amsterdam,
The Netherlands
16-18
December
2013
Poland, Sopot
January
2014
Bulgaria
The Economist’s innovation Awards 2013
China Summit 2013
Sofitel Wanda, BEIJING
Nordic Business Forum
“Boosting partnership between the Nordic business
and the Bulgarian state administration: The Nordic
model experience”
Smart Investing in a Low Growth World
8th Energy Forum (2013)
InvestBulgaria Agency (IBA) organized for the eighth
time the annual awards
Investor of the Year 2013
The aim of the event is to acknowledge the most important
investment projects implemented in Bulgaria in 2013.
page 26 of 26
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InvestBulgaria Agency

Transcription

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