Chinese Investors Seek to Build New Industrial City Near Bulgaria's Plovdiv

Business » INDUSTRY | April 5, 2016, Tuesday // 08:26
Bulgaria: Chinese Investors Seek to Build New Industrial City Near Bulgaria's Plovdiv Photo by

Investors from the Chinese city of Shenzhen are willing to erect a new "economic city" near Plovdiv in Bulgaria, daily 24 Chasa reports.

The project, described by the investors as a venture linked to China's New Silk Road project, is aimed at bulding a bridge between Chinese and European businesses, the media outlets reports after a meeting between Plovdiv officials and entrepreneurs from the East Asian country.

One of the results expected by the Chinese investors is that Plovdiv should turn into a distribution hub for Chinese goods to Europe and the Middle East. 

The presence of Chinese companies in Plovdiv is set to be strengthened after a bilateral business partnership was established between the state-protected industrial area called Trakia Economic Zone and a Chinese company.

Bulgarian officials say as many as 100 companies from 28 states currently have facilities dealing with production, logistics, or other services within the zone.

The Monday meeting brought together Plovdiv Deputy Mayor Rozalin Petkov, entrepreneur Plamen Panchev, who is behind the Trakia Economic Zone project, and Valentina Aleksandrova (one of the Economy Minister's advisers) with Chanqing Zhang, who represents the Bulgarian-Chinese Association for Business Development, and business representatives from Shenzhen, a city of 10 million.

The estimated project deadline is three years.

However, there are no reports of any agreements signed that would have launched it officially.

This is not the first time Chinese investors have voiced their interest in large-scale projects in Bulgaria that had later been abandoned for different reasons. 


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Tags: China, Bulgaria, Shenzhen, Plovdiv, Trakia Economic Zone, Changqing Zhang, Bulgarian-Chinese Association for Development
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