Will Volkswagen Come to Bulgaria?

Novinite Insider » OPINIONS | March 29, 2019, Friday // 16:17| Views: | Comments: 0
Bulgaria: Will Volkswagen Come to Bulgaria?

Will Volkswagen choose Bulgaria for its planned giant investment? "We have negotiated for total silence, and the one who makes the most noise will get nothing," Prime Minister Borisov said in a German-Bulgarian forum.

During a business forum of the German-Bulgarian Chamber of Industry and Commerce held on Thursday, Prime Minister Borisov expressed surprise at the emotions in a recent statement by the Serbian President. This week, Vucic said in an interview that his friendship with Balkan leaders did not reverse Serbia's fight for Volkswagen's planned investment: "I know how much Boyko struggles (...) we are friends but it is a struggle for Serbia," he said Vucić and specified that his country is struggling in the worst conditions with four more countries - Bulgaria, Turkey, Romania and Ukraine.

Before Deutsche Welle Borisov clarified that Bulgaria's deal with the German side is to keep a complete silence until the final winner is chosen because "the one who makes the most noise will get nothing". According to Mitko Vasilev, the German-Bulgarian chamber manager, Bulgaria still has a chance to get good news from Volkswagen.

According to the German entrepreneur Bertram Rollmann, established in Bulgaria as early as 1993, three countries are competing in the battle announced by Vucic - Bulgaria, Serbia and Turkey. In the words of the German investor, Serbia has as an economic advantage the presence of a large number of large and cheap flats, which is an important requirement of Volkswagen. There are many young and energetic people in Turkey, and the promising workforce definitely plays a role in choosing a place for big investments. Bulgaria also has very good chances, stemming mainly from the country's EU membership, according to Rollman.

"The continued demographic collapse remains the most significant problem for investors in choosing the country as a place for new capital investments", said Rolman.

At the same time, it is a fact that the German-Bulgarian economic relations are developing very well, traditionally dominating the new investments in the Bulgarian economy and the bilateral trade relations. In the past year, the mutual trade reached a record, crossing the border of 8 billion euros, and in trade with Germany Bulgaria can boast a positive balance. This is largely due to the fact that in Bulgaria came German companies that produce in the country and then directly export their products. At present, direct German investments provide permanent jobs for about 35,000 Bulgarians and among the nearly 200 countries that are trading partners of Germany, Bulgaria occupies 39th place of import and 45th export.

The economic relations between the two countries will undoubtedly be discussed during the forthcoming visit by the German President Steinmeier to Sofia.

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