Investing in Bulgaria: I Am Actually with the Economy Minister on This One
My brief comment today was going to be about Bulgarian Prime Minister Boyko Borisov's insulting treatment of archaeologists digging on the route of the Struma Highway – which might have resulted from Borisov's overexcitement after drawing a 10-year-old chess medalist girl earlier the same day.
But Borisov's behavior in this instance is so obviously outrageous that I decided to go for something positive by joining Bulgaria's economy and investment authorities in recognizing some major business and investment success stories – and I am asking our readers from around the world to join me in that.
"Even the most daring business plans can be realized in Bulgaria." That's what Bulgaria's Economy, Energy, and Tourism Minister Traicho Traikov stated at the ceremony for the 2011 "Investor of the Year" awards of the InvestBulgaria Agency.
HP, Lufthansa Technik, EVN, Amer Sports, and Asarel Medet absolutely deservedly became Bulgaria's "Investors of 2011", with truly "healthy" investments in high added value services, industries, and energy projects - and the InvestBulgaria Agency has done a pretty good job picking them.
It is even more commendable that the awarded projects of EVN, Amer Sports, and Asarel Medet are not in Sofia but in Bulgaria's provinces that are often happily neglected by the central government, which God knows why doesn't feel conscious about that. (The last two are even more worthy because they are in small towns – Chepelare and Panagyurishte.)
Traikov is right – Bulgaria does have the potential to provide the field for success for bold investments. The big problem remains, however, that it needs to get a lot more of those! The awards of these five investors came against the backdrop of the FDI drop, with Bulgaria's final 2011 FDI tally at only EUR 700 M!
So regardless of how much sense the government's explanations for that (payment of intra-company loans, global economic environment) might make, it obvious that the state – and the Bulgarian society for that matter – must boost tenfold their efforts to create a better business environment and to promote Bulgaria internationally! Because large-scale investment success stories obviously can be achieved in Bulgaria!
This article in BULGARIAN
Hi there everyone,
Being a Brit in Bulgaria, I too am trying to build a business here as well. I have invested all the money I have, be it a small amount in relation to other international companies in Bulgaria. But it is a start, I have built a website and it is working, I want to employ Bulgarians and have the company controled by a bulgarian. I plan to semi retire and just control the reins a little, but want to build a company that will be working in Bulgaria for the next 100 years.
We are in a the provinces, namely a village, but plan to move to a more useful location. Bulgaria is now my Home country, so I want to put everything I can into making a working contributuion to my new Country.
But for me it is very hard and there seems to be little help from the goverment for any one like me to make any effort to contribute to this wonderful country.
I would like to link up with others in the same situation and form an association for this purpose so we can all work to help each of us build our respective businesses. As a foreigner in Bulgaria, for me is almost impossible to break into the system to make a start.
I have plans to build what I have started, into a working business that will help the local area, with employment and taxes. I am doing all I can with only my Bulgarian partner to help and she is on a very steep learning curve to discover how to run a successful business, as well as to control and manage everything the businees handles.
For the moment our company is sleeping, as is many others, which does nothing to help the Bulgarian economy, or for us either. Also it does nothing to help our prospective employees. We, like many others need some goverment help to get going, but there seems to be little interest from the top to make Bulgaria work.
I am nearly 65, almost a pensioner, but I can see I have much I can put into Bulgaria to help make Bulgaria a great and wonderful country. I brought much in my head from England when I came here 5 years ago and want to use it before I loose it all. For me time is running out. I want desperatly to make a contribution, but am finding it very difficult to get anywhere, which makes me feel, why should I bother.
Our website, which I built my self and is only my second ever effort at it is ready. We just need work and contracts and some goverment help and we can start. We have a very basic workforce ready to come with us. But once in operation will need more staff to make the business run to an efficent level. With the dream of building the business even bigger as the months go on.
This business will bring in work for goverment departments like Customs, so will bring in income and make a useful contribution to the economy of Bulgaria.
Our website is www.samararussianimportsltd.com
For the moment only the English langauge part of it is active, as this is where the first income will come from, but we want to make it for Bg clients as well.