PM Denkov: Bulgaria Sees 50% Surge in Foreign Investment
Prime Minister Nikolai Denkov heralds a momentous achievement in Bulgaria's economic landscape, revealing an astounding 50% surge in foreign investment during 2023
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Turkish industrial giant Sisecam is going to invest USD 60 M more in its production facility for household glass in Bulgaria's Targovishte through its subsidiary, Trakiya Glass Bulgaria.
The new investment will expand the existing household glass production line launched in 2005, and will add a second production line in Sisecam's glass factories in Targovishte, which taken together are the largest glass plant in the Balkans.
A total of 200 new jobs will be opened with the new investment, Trakiya Glass Bulgaria HR head Krasimir Kanev said, as quoted by BTA.
The news about Sisecam's new investment in Bulgaria comes after back in February 2011 the company opened the "Sisecam" factory for automobile glass in the northeastern city of Targovishte.
Ahmet Kirman, CEO and chair of the board of Sisecam, pointed out back then that the investments of the Turkish company have turned the Bulgarian city of Targovishte into a center of glass production in the Balkans, and have provided direct employment to 1440 people, while also facilitating the creation of additional small and medium-sized enterprises working with the company on the local level.
The automobile glass investment was estimated at USD 25 M and created 130 jobs. The automobile glass plant was the fifth manufacturing facility of the Turkish glass giant, after the factory for household glass, launched in 2005; for flat glass, launched in 2006; the mirror line and the line for appliance glass from 2007. More than 1 500 workers are already employed at the five facilities.
Back in 2008, Turkish PM Recep Tayyip Erdogan visited to the Sisecam facilities in Bulgaria, saying that Sisecam could be expected to invest some USD 400 M more there. This was confirmed in February 2011 by Sisecam CEO Ahmet Kirman.
Sisecam's total investment in Bulgaria's Targovishte through its subsidiary Trakiya Glass Bulgaria amounts to some USD 400 M as of the srping of 2011. Kirman and the other managers of the Turkish glass giant have made it clear that they plan to build four more plants or production lines in Targovishte worth another USD 400, and to have a total of 2 500 workers in the Bulgarian city if the Bulgarian government meets their requests for tax breaks.
Sisecam CEO Ahmet Kirman's interview for Novinite.com (Sofia News Agency) READ HERE
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Online sports betting has taken the world by storm, offering enthusiasts an exciting way to engage with their favorite sports.
In response to the ongoing war between Russia and Ukraine, the European Commission has greenlit a significant aid package for Bulgarian farmers, totaling approximately 86.9 million euros
If you compare today's casino experience with two decades back, you can tell that a lot has changed.
Game distributors and casino sites want to be as accessible and user-friendly as possible.
The early decades of the 21st century have presided over huge changes in both society and technology, so much so that it is difficult to imagine what parts of the world today will survive to be distilled into the history books.
Farmers' protests in Bulgaria show no signs of abating as over 20 agricultural organizations demand an urgent meeting with Prime Minister Nikolai Denkov
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022