700 Million Worth of Investments and 2700 New Jobs for Several Months

Business | January 19, 2018, Friday // 13:25
Bulgaria: 700 Million Worth of Investments and 2700 New Jobs for Several Months inews.bg

Since the beginning of 2018, 10 certificates have been issued under the Investment Promotion Act (LCI) with a total amount of nearly BGN 600 million and planned 877 new jobs. At the end of 2017 and early 2018, the Ministry of Economy signed contracts for the promotion of 7 certified projects under the IPA with a total investment of BGN 99.76 million and 1905 new jobs. This was stated by the Minister of Economy Emil Karanikolov during a briefing attended by his deputies Lachezar Borisov and Alexander Manolev and the Executive Director of the Bulgarian Investment Agency Stamen Yanev.

The Economics Minister stressed that one of the financial incentives under the IPA that matters for the enterprises in the industry is the construction of elements of incoming infrastructure. In this regard, it became clear that at the end of 2017 there were contracts with the investors and the municipalities in which the certified investment projects were carried out, with the resources of the Ministry budget amounting to 3.94 mln leva being allocated to the municipalities of Gabrovo and Devnya and Beloslav.

"This positive trend is confirmed by the number of certified projects under the IPA," said Minister Karanikolov. According to him, 31 certificates were issued in 2017. The total investment provided by the projects amounts to BGN 311.5 million and 5850 new jobs are expected to be opened. 15 projects are implemented in high-tech production and services and are distributed on the territory of different regions of the country. For comparison, in 2016, 24 projects were certified, and in 2015 only 12.

For his part, Lachezar Borisov said that for the first time in the last two reported quarters of the NSI, it is clear that the growth of the economic growth is the investment and not only the consumption and exports, which grow by 4.3% in real terms. At the briefing, Minister Karanikolov handed three certificates to the companies Amilum Bulgaria EAD, Kastamonu Bulgaria AD and Vitte Automotive Bulgaria EOOD for class A investment under the terms of the IPA. The total amount of investments of the certified companies is BGN 269,472,000, with the opening of 362 new jobs. Investors thanked the Ministry of Economy and BAI for fruitful cooperation.

In conclusion, Karanikolov expressed confidence that 2018 would be very successful, relying on constructive dialogue with employers' organizations and business.

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