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Bulgaria: Premier Borissov Meets with Swiss Ambassador to Inspect HOWAG Plant in Targovishte
Business | December 14, 2020, Monday // 18:23
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The good environment for business in Bulgaria and the joint efforts to attract more investment were the topic of the meeting of Prime Minister Boyko Borissov with the Ambassador of Switzerland in Bulgaria Muriel Berset Cohen. The two were in Targovishte, where they visited the HOWAG plant.The cable company, which produces spare parts including for medical equipment and respirators, is a member of the Bulgarian-Swiss Chamber of Commerce and has over 100 employees boasting 100% high quality of production. "The business climate in Bulgaria is good. The Embassy and the Bulgarian-Swiss Chamber of Commerce are working to let more Swiss companies come and invest in the country," Swiss Ambassador Muriel Berset Cohen said.
Prime Minister Borisov emphasized the active work of the government in support of business and investment in Bulgaria. In his words, it is important that investors are interested in different cities across the country. The Prime Minister also pointed to the huge advantage that new motorways and good infrastructure give. "The most important thing is to overcome the pandemic, after which the economy will recover," Borissov said. The Prime Minister noted that many European companies have understood that it is better to produce important things in Europe, including in Bulgaria.
The management of the plant showed the production process and specifically demonstrated the work of a machine made in Bulgaria and then used by the company outside the country.
Prime Minister Boyko Borissov thanked the Ambassador of Switzerland to Bulgaria for the efforts towards closer relations between Bulgaria and Switzerland, including in the economic sphere. As of the end of June 2020, Switzerland's foreign direct investment in Bulgaria amounted to EUR 1.37 billion. the country ranks 10th in the amount of foreign direct investment in Bulgaria. Swiss investors operate in traditionally fast-growing sectors in Bulgaria in recent years.
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