Car Industry Suppliers Study Investment Opportunities in Bulgaria

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Car Industry Suppliers Study Investment Opportunities in Bulgaria

Five or six European car industry suppliers are studying investment opportunities in Bulgaria and other countries in the region. They are planning to invest between 20 million and 30 million euro in future plants. BTA reports.

This emerged at a news conference given by InvestBulgaria Agency Executive Director Stoyan Stalev on Thursday.

A German car parts plant will be unveiled in the Rakovski industrial zone in early March, Stalev said.

The InvestBulgaria Agency is considering some 30 greenfield investment projects. Almost all manufacturing investors seeking certificates from the agency are planning to export their output.

The agency estimates that foreign direct investment in Bulgaria in 2007 amounted to more than 6,000 million euro. According to Stalev, Bulgaria has the potential to maintain the current size of investments, but the growth of foreign investments is expected to slow down.

The foreign investments attracted in the last two years exceed the amount attracted in 1990-2005.

The ratio of foreign direct investment to Bulgaria's gross domestic product was 20 per cent in 2007, which placed the country at the top of the table in the European Union.

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