Fight Against Corruption and Qualified Personnel is what the Austrian Business Wants from Bulgaria

Business | January 15, 2019, Tuesday // 13:34| Views: | Comments: 0
Bulgaria: Fight Against Corruption and Qualified Personnel is what the Austrian Business Wants from Bulgaria

Fighting corruption and crime and the need for qualification of the cadres - these are the two most important issues that would improve the business climate in the country and the market conditions respectively. This was stated in a poll among the representatives of the Austrian business in Bulgaria. It is held annually by the Austrian Commercial Representation in Bulgaria (Advantage Austria), reports Dnevnik. 


Among the three most important measures on the part of the institutions that would improve the business climate, Austrian firms point to legal certainty and reduced bureaucracy. And among those that would make Bulgaria a more attractive place for Austrian investments, it adds the availability of labor and infrastructure.


At the same time, investors are happy with many of the parameters of the environment and many of them plan to expand their business. To varying degrees, they also plan salary increases, with more than 10% by 9.4%.


The survey among nearly 100 Austrian companies traces the overall economic development in Bulgaria, with 33% of companies assessing it in a positive way, and one third of respondents expect improvement in this indicator in 2019. Data show that about 70% of companies sell more than half of its production on the Bulgarian market.


The study also shows that more than half of the companies involved had an increase in turnover and orders over the past year.


30% of the participating companies would like to pay more attention to the quality / durability of the products / services and not just the lowest price, because in the long run this may be even more expensive.


More than half of the companies involved had an increase in turnover and orders. Nearly 60% of respondents have confirmed they are planning to invest in the country over the next two years.


Among the major Austrian subsidiaries in the country are A1, EVN, OMV, Raiffeisen, Vienna Insurance Group, Uniqa, Palfinger, Billa, Kronospan, Wienerberger, Knauf, Baumit, Gebrüder Weiss, cargo partner and others. The predominantly main activity of the Austrian companies operating in Bulgaria is related to the trade of Austrian products and the provision of services, and to 26% of the companies - with production.


In the first half of 2018, imports from Austria to Bulgaria increased by 3.8% to EUR 356 million as compared to 2017 and exports from Bulgaria to Austria decreased by 2.4% to EUR 253 million.

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