Bulgaria Offers To Double Subsidies To Volkswagen

Bulgaria is ready to double the subsidies it offers in order to secure the contract for the new Volkswagen plant, the German daily Frankfurter Allgemeine Zeitung writes in an exclusive material. “We have found a way to offer the Volkswagen Group 250 to 260 million euros instead of 135 million euros,” former head of state Rosen Plevneliev told F.A.Z. Currently, Plevneliev is chairman of the Automotive Cluster Bulgaria and is actively lobbying for his country.

Bulgaria offers VW a large industrial area outside the capital Sofia, near the airport. The former steelmaking plant belongs to the Bulgarian First Investment Bank and the Austrian real estate company Soravia. Bulgarian Prime Minister Boyko Borissov has promised Volkswagen that the country will be “the most loyal partner of the largest car giant in the world”.

The prime minister cited good conditions for German investors and very low taxes. The German carmaker has already set up a Turkish unit in the western city of Manisa in early October, laying the groundwork for its production start in Turkey. However, the controversial decisions of President Recep Erdogan and the resentment against them in Brussels have shaken the company.

“The decision to build a new plant was postponed by the Governing Council,” VW said. ““We’re closely monitoring the situation and are concerned about the current developments,”  they added. Turkey has come under strong international criticism for its military offensive in Syria.

Read More

Bulgarian Government To Provide Extra $12 For Religious Groups

Sofia this week approved an extra budget of 21.7 million Bulgarian leva (US$11.8 million) to cover state subsidies for religious denominations including...

Karayancheva: Bulgarian EU Presidency A Success

For these two years, Bulgaria has become the leader of the Balkans'', said the National Assembly Speaker, Tsveta Karayancheva, to journalists in...

Disruption Could Put Millions Of Small Businesses At Risk

· The average SME insurance claim exceeds the monthly net profit of 45 per cent of the UK’s SMEs


Turkmenistan & Bulgaria Considering Joint Projects

A meeting of the intergovernmental Turkmen-Bulgarian commission for economic cooperation was held in Turkmenistan’s Avaza tourist zone, Trend reports referring to a source involved...

Eurostat: Bulgaria Had EU’s Lowest Prices For Hotels, Restaurants, Alcohol And Tobacco In 2019

Price levels of hotels and restaurants, alcoholic beverages and tobacco, and clothing in Bulgaria were the lowest in the European Union in...

Bulgaria Banned The Entry Of All Foreign Persons Until June 14

By order of Minister of Health Kiril Ananiev, Bulgaria has temporarily banned the entry of all foreign persons regardless of their nationality. The...