PM Borissov: This Year's GDP Will Exceed BGN 120 billion

Politics » DOMESTIC | October 22, 2019, Tuesday // 15:32
Bulgaria: PM Borissov: This Year's GDP Will Exceed BGN 120 billion

"4-5 years ago, the GDP was 50 billion, and this year we will pass BGN 120 billion. It is good when there are such investments that leave added value in Bulgaria." This was stated by Prime Minister Boyko Borissov at the opening ceremony of a car lights production plant in the Industrial Zone near Plovdiv.

"I thank the Bulgarian workers, engineers and developers for bringing such investors with their good work and qualifications," said PM Borissov. It focuses on the established industrial zones in Bulgaria, which fill up extremely quickly.

"It is important to me that the municipality and the state have provided all the conditions. These are jobs, this is GDP. " According to the Prime Minister, it is important that highly qualified Bulgarian personnel are starting to return from abroad. Borissov also noted the construction of the infrastructure in the country, with special emphasis on the road Botevgrad - Mezdra and Plovdiv - Asenovgrad, as well as the extension of the ring to the city of Plovdiv, the government press service announced.

"With this enormous growth of the city and a visible economic boom, Plovdiv Airport cannot stay in the periphery. I think the Balkans need a big food hub to come in and export goods. At some point, it may be cheaper to ship goods with aircraft than with тtrucks. We are working on this topic, "said Prime Minister Boyko Borissov.

Odelo Bulgaria Ltd. is a company engaged in the production of lighting for the automotive industry and is part of the Turkish holding of Bayraktar. The investment for the plant near Plovdiv is worth EUR 40 million, with an estimated 400 people expected to be employed by 2023. For its investment in the country, the company receives a Class A Investor Certificate from the Ministry of Economy.

Odelo Bulgaria Ltd. has recently opened a Development Center in Sofia, where nearly 40 engineers will be hired to design the front and rear lights for the automotive industry. The locations in Plovdiv and Sofia serve two interrelated activities - the design and manufacture of car lights.

The company has a total of 6 factories in the world worth EUR 253 million of investments made in the last 7 years. They employ 4,000 employees and have a turnover for 2018 of EUR 383 million.

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Tags: Bayraktar. Turkey, Boyko Borissov, Bulgaria, GDP
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