Borissov: 88% Of German Companies Would Invest In Bulgaria Again

There are excellent conditions for business development in Bulgaria. It is not by chance that, according to surveys, 88% of German companies respond positively to the question whether they would invest again in the country, Prime Minister Boyko Borissov said at a meeting with representatives of the German-Bulgarian Chamber of Industry and Commerce and the Eastern Committee of the German Economy, the government press office reported, quoted by Focus News Agency.

The meeting with Prime Minister Boyko Borissov at the Council of Ministers was attended by representatives of large German companies who want to develop and expand their business in Bulgaria. An interest in future investments was shown in the field of transport infrastructure, energy and energy efficiency, water and waste management, mechanical engineering, manufacturing of auto parts, electronics and electrical engineering, food industry.

The participants in the meeting welcomed Prime Minister Boyko Borissov’s personal commitment to increasing German investment in Bulgaria. “The relations between the two countries are very well developed. Over 1,400 German companies employing over 60,000 people are represented in Bulgaria. “

Germany remains Bulgaria’s key foreign trade partner. For the period January – August 2019, Bulgaria’s exports to Germany amounted to EUR 2.876 billion, a 1.3% increase year-on-year. “Bulgaria is one of the few countries in the world that can boast of positive trade balance with Germany,” Prime Minister Borissov said. In 2018, trade between the two countries reached a record EUR 8,153 million and is expected to be over EUR 9 billion this year.

For 2018, foreign direct investment from Germany amounted to EUR 105.4 million. About 30% of the 100 largest investors in Bulgaria are German or with German participation.

Germany is Bulgaria’s major tourism partner among EU countries and is one of the most important markets for the Bulgarian tourism product. For 2018, Bulgaria was visited by over 850,000 German tourists.

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