Bulgaria's Market Size 'Challenge to Businesses'
The tiny Bulgarian market poses difficulties to businesses, Ekkehard Neureither, CEO of ABB Bulgaria, has said.
At the same time, one has to come up with the best product and best prices in Bulgaria as the market is also very competitive, he has told Bloomberg TV Bulgaria in an interview.
Neureither has also argued that the business environment is substantially improving in the country.
"What we have seen over the last years is that many investors are comping to Bulgaria... and [many] international companies. There is a high demand in the energy sector. This gives us optimism for the next years."
Swedish-Swiss company ABB produces different automotive components in Bulgaria, as part of a still growing auto parts industry that is largely export-oriented.
"Our business is more than 70% oriented toward exports and 30% to the domestic market. The fact that we managed to reach even these 30% is impressive," Neureither has argued.
Investors in Bulgaria, however, are still trying to solve the issue of lack of resources, with the industry sometimes needing not only managers but also experts, he has made it clear.
- » What is the Origin of the Weirdest Bulgarian Expressions
- » Die Welt: The Italian Mafia Returns to Bulgaria and Romania
- » Politico: Europe fakes Turkish delight
- » Politico: Europe’s Digital Single Market Hits the Bulgarian Rocks
- » Rositsa Kratunkova: Bulgaria (not) only for Bulgarians
- » Süddeutsche Zeitung: Bulgaria Should not Enter the Eurozone