Bulgaria Still Waiting for Auto Manufacturing Plant
The Bulgarian government is still waiting for a large automotive manufacturer to set up a vehicle assembly plant, the Financial Times notes in a report on the country.
"The automotive parts industry has become one of the engines for Bulgaria's national output," according to the auto-parts industry section of the Investing in Bulgaria report for 2016 released on Tuesday.
It cites data from a recent survey showing the number of manufacturers in the industry has doubled since 2012. Employing just 1% of Bulgaria's workforce, last year the automotive parts industry generated EUR 1.55 B in sales - over 3 percent of gross domestic product.
Poor infrastructure is mentioned as one of the key hurdles to further growth of the industry.
The text also summarizes the developments in Plovdiv, Bulgaria's second-largest city, where hundreds of millions have been generated in greenfield investments in auto-parts manufacturing over the past years.
The entire piece is available here.
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