InvestBulgaria Agency CEO: Western Company to Create up to 2000 Jobs in Bulgaria

Business | November 27, 2012, Tuesday // 11:07| Views: | Comments: 0
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Bulgaria: InvestBulgaria Agency CEO: Western Company to Create up to 2000 Jobs in Bulgaria InvestBulgaria Agency CEO Borislav Stefanov, photo by BGNES

In a few weeks' time, a large Western company will announce an investment which will create some 1500 to 2000 jobs in Bulgaria, according to InvestBulgaria Agency CEO Borislav Stefanov.

In a Tuesday interview for the morning broadcast of the Bulgaria On Air TV channel, he made clear that there were also two companies which had shown interest but had not yet made up their mind whether to invest in Bulgaria or Romania.

Stefanov said that outsourcing was a sector which still attracted investor interest and it usually involved activities in the sphere of finance and accounting.

He said that there were around 500 to1000 people working in the outsourcing business and the establishment of the Bulgarian Outsourcing Association scheduled for Tuesday was a very good step.

The CEO of the InvestBulgaria Agency informed that foreign direct investment (FDI) had increased by around EUR 250 M by end-September, adding that he expected an annual growth of 10-15% by the end of the year.

Stefanov noted that the legal measures concerning foreign investors adopted in Bulgaria were not enough and did not match the requirements imposed by the crisis.

He went on to argue that even if the law stipulated financial incentives for foreign investors creating jobs in Bulgaria, there was no guarantee that the Finance Ministry would decide to set aside money for the purpose.

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