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InvestBulgaria Agency CEO Borislav Stefanov, photo by BGNES
A German manufacturer of automotive air conditioning systems is said to be about to create over 1500 jobs in Bulgaria.
According to reports of Bulgarian Standard daily, the investment will be announced in a few weeks' time and it involves the production of automotive electronic equipment and not just outsourcing administration functions.
The name of the investor remains undisclosed at this stage.
According to Standard daily, the German investor is likely to have chosen Bulgaria due to the latest amendments to the Investment Promotion Act, which passed second reading Tuesday at the Economic Policy, Energy and Tourism Committee.
The amendments are yet to pass second reading in Parliament.
The legal changes stipulate additional investment incentives and are aimed at supporting job creation in the country.
The most significant new provisions envisage a reimbursement of employers' expenses for social security contributions for a period of two years for Class A and Class B investors.
The idea that a donation of BGN 200 000 to the National Innovation Fund should entitle foreign investors to permanent residence status in Bulgaria is to be revised.
Borislav Stefanov, InvestBulgaria Agency CEO, announced Tuesday that a large Western company would create up to 2000 jobs in Bulgaria, vowing to disclose the details in a few weeks' time.
Bulgaria emerges as a standout performer in the European Union's automotive market, boasting the second-highest growth rate in new car sales
A New Urban Ordinance will introduce a line for façade and pavement colors and will restrict the placement of ads and air conditioners in the center.
New investments of BGN 350 million could be made in the production of car parts in Bulgaria.
''The reason for us to report Tsankov Kamak to the Prosecutor’s Office is that the installation, which cost as much as BGN 1 billion, is not working, it is broken.
Foreign direct investment into Bulgaria from January to November 2016 was nearly half the value of the first 11 months of 2015, the Bulgarian National Bank has said.
Estimates of a brisk fall in the value of foreign direct investment (FDI) into Bulgaria are "not quite correct", Stamen Yanev, who heads the country's investment promotion agency, has said.
In 2023, 10.6% of the population in the European Union reported being unable to keep their homes adequately warm
The request for a convergence report to join the eurozone will be made after February 18, once the draft State Budget is submitted
Bulgaria will request a convergence report from the European Commission regarding its readiness to join the Eurozone once the country fulfills the price stability criterion
Wizz Air has unveiled its top romantic destinations for Valentine’s Day in 2025, offering the perfect opportunity for couples to celebrate the occasion with a getaway
The Bulgarian government has effectively abandoned its plan to enter the eurozone on January 1, 2026
The Bulgarian government has announced a program to compensate businesses and non-household electricity subscribers for high energy costs until the end of March
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