Bulgaria Seeks to Attract Foreign Investors in Seven Sectors

Business | July 6, 2016, Wednesday // 17:18| Views: | Comments: 0
Bulgaria: Bulgaria Seeks to Attract Foreign Investors in Seven Sectors Stamen Yanev, executive director of the InvestBulgaria Agency. Photo: BGNES

Bulgaria will focus its efforts on attracting foreign investments in seven sectors of its economy.

This was stated at a press conference on Wednesday by Deputy Economy Minister Daniela Vezieva and executive director of the InvestBulgaria Agency, Stamen Yanev.

The leading sectors are production of computer and communication technology, electrical equipment, machines and equipment, chemical products, items from rubber, plastic and other non-metal raw materials as well as food products.

Twelve European countries are most likely to make foreign direct investments, namely Germany, the UK, France, Denmark, the Netherlands, Sweden, Italy, Belgium, Austria, Norway, Ireland and Switzerland.

Outside Europe, the USA, China, Japan, Russia, Singapore, Israel, Kuwait, Turkey and Qatar hold the greatest potential to do so.

The end goal of the concept is to attract new entreprises in existing high-quality sectors, attracting investments in favour of regional policies, as well as representing Bulgaria as a meeting point between East and West.

A special analysis of the economy ministry and InvestBulgaria Agency showed the weaknesses and of each sector as well as the opportunities for the development of different sectors in different areas of the country.

Yanev pointed that there is still large difference between northern and southern Bulgaria, with more technological sectors developing in the southern part of the country, while less technological ones are based in the north.

Commenting the outcome of last month's referendum on the membership of the UK to the EU, he said that Brexit does not exclude the possibility of some British businesses relocating to Bulgaria.

According to him, there are opportunities for expanding the presence of British investors who had already established themselves in Bulgaria.

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Tags: Brexit, business, Stamen Yanev, InvestBulgaria Agency, economy, Bulgaria, investment
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