German Company to Make Car Air Conditioning Systems in Bulgaria
A German manufacturer of automotive air conditioning systems is said to be about to create over 1500 jobs in Bulgaria.
According to reports of Bulgarian Standard daily, the investment will be announced in a few weeks' time and it involves the production of automotive electronic equipment and not just outsourcing administration functions.
The name of the investor remains undisclosed at this stage.
According to Standard daily, the German investor is likely to have chosen Bulgaria due to the latest amendments to the Investment Promotion Act, which passed second reading Tuesday at the Economic Policy, Energy and Tourism Committee.
The amendments are yet to pass second reading in Parliament.
The legal changes stipulate additional investment incentives and are aimed at supporting job creation in the country.
The most significant new provisions envisage a reimbursement of employers' expenses for social security contributions for a period of two years for Class A and Class B investors.
The idea that a donation of BGN 200 000 to the National Innovation Fund should entitle foreign investors to permanent residence status in Bulgaria is to be revised.
Borislav Stefanov, InvestBulgaria Agency CEO, announced Tuesday that a large Western company would create up to 2000 jobs in Bulgaria, vowing to disclose the details in a few weeks' time.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » Bulgarian National Bank: We are on the Final stretch on the Road to the Eurozone
- » Bulgaria imported over 55,000 tons of Fresh Vegetables and 66,000 tons of Fruit in January and February
- » Bulgaria fails to achieve Good Placement in Sustainable Tourism Ranking
- » Bulgaria: Burgas ranks as the Twentieth-Best City for a Scenic Drive
- » In April: Bulgarians Traveled the most to Neighboring Countries
- » The Price of Gas in Europe fell to a two-year Low