Bulgarian Investments in Serbia Reach 110 Million Euro

Bulgarian Investments in Serbia Reach 110 Million Euro

Bulgarian investors have acquired 28 companies and invested a total of 110 mln euros in Serbia so far, shows data released by the Serbian Chamber of Commerce, cited by BTA.

Bulgarians invested 10.1 mln dollars in Serbia between 2002 and 2004, and some 98.8 mln euros between 2005 and 2008. 2006 has been the best year for investments so far (62.3 mln euros from Bulgaria), the Chamber said.

And while Bulgarian investors have acquired 28 Serbian companies so far, Serbians have only bought one Bulgarian company – Delta's purchase of supermarket chain Piccadilly.

More than 20 companies with Bulgarian participation operate in Serbia. Bulgarian businessman Valentin Zahariev and his company Intertrust are the leaders in terms of acquisitions. Another serious investor is Kornikom (owned by Hristo Kovachki), which last year bought the Kovin mine for 16.4 mln euro.

The biggest Bulgarian investment in Serbia so far is the acquisition of the Krushevats-based Trayal in 2006 at a price tag of 12.1 mln euros and with an investment program worth 25 mln euros.

Bulgaria is in the top 10 list of Serbia's foreign trade partners.

Last year trade turnover between the two countries reached 784 mln dollars, which is 38% up from 2006 (580.2 mln dollars).

Bulgarian investors are also among the few which describe Serbia's investment climate as favorable.

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