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InvestBulgaria Agency November 2013 InvestBulgaria Agency issue 2 (2), year 1 Economic News - Business, Investments, Trade Analysis of Sector Investment Opportunities of Municipality Monthly Interview Chamber of Commerce in Bulgaria Electronic Publication Macroeconomic Indicators Upcoming Events INVESTBULGARIA AGENCY To meet the needs of investors and to maintain good business environment are key priorities of the Bulgarian government Anna Yaneva Deputy Minister of Economy and Energy In the period 2005 - 2009 she was elected Deputy Minister in charge of "Economics" in the Ministry of Economy, Energy and Tourism. She was Secretary General of the Committee on the Use of Atomic Energy for Peaceful Purposes and Member of Parliament in the 41st National Assembly. From 2009 to 2012 she was a member of the standing committee on "Economy, Energy and Tourism." She graduated from the Commercial High School in Sofia and Master in "Management and organization of Material-technical supply" in the Higher Institute of Economics "Karl Marx." Our efforts are aimed at maintaining macroeconomic and financial stability and reducing the administrative burden on businesses. One of our main priorities is the promotion of sectors with high added value for improving the competitiveness of the Bulgarian economy. The package of incentives, which we offer investors, is competitive in regional aspect. The focus of our work will continue to be on attracting investments - conducting proactive investment marketing. Our strategy to attract investors is based on clear priorities in terms of target countries and target industries, of which Bulgaria seeks to attract strategic investors. Target determination linked to program implementation is a prerequisite for good results. Along with this we also work for optimization of administrative services, improvement the coordination of IBA InvestBulgaria Agency (IBA), 31 Aksakov Str., Sofia 1000 Tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320, e-mail: [email protected], http://www.investbg.government.bg Issue 2 (2)/ November 2013 InvestBulgaria Agency with other institutions and local authorities to improve the quality of the investment service. Successful model for investors encouraging requires central administration and regional structures and local authorities to work together to provide quality and timely service for each investment project. For large investment projects coordination and competent assistance in all stages of the investment process is of particular importance. What deserves special attention is that investors, which have received a certificate under the Law on Investment Promotion, now expand their presence in Bulgaria, as some of them have already issued a second and even third certificate. Such investors are Lufthansa Technik Sofia Ltd., Knauf Bulgaria Ltd., Devnya Cement Jsc., Trakya Glass Bulgaria EAD, SOK Kamchiya Jsc. and Witte Automotive Bulgaria Ltd. This means that companies appreciate the business conditions and incentives that the Law on Investment Promotion provides. Annual Awards “Investor of the Year” 2013 InvestBulgaria Agency (IBA) organized for the eighth time the annual awards "Investor of the Year" 2013. The aim of the event is to honor the most significant investment projects carried out in Bulgaria in 2013. Specially appointed committee will review all nominations and determine the companies that will be awarded at a ceremony in January 2014. page 2 of 26 InvestBulgaria Agency (IBA), 31 Aksakov Str., Sofia 1000 tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320 e-mail: [email protected], http://www.investbg.government.bg Issue 2 (2)/ November 2013 InvestBulgaria Agency EVENTS ORGANIZED BY IBA IN OCTOBER InvestBulgaria Agency met the business in Veliko Tarnovo On October 31st, 2013 a round table organized by InvestBulgaria Agency was held in Veliko Tarnovo. The event brought together current and potential investors in the region, representatives of municipalities, regional centers, business and media. At the beginning of the meeting IBA’s large-scale project that promotes Bulgaria as an investment destination abroad, was presented. The new CEO of the Agency Svetoslav Mladenov discussed with representatives of the business, state and local government plans to attract more investors and create new jobs in the city of Veliko Tarnovo and the region. He presented the Agency's work and stressed that it is important to maintain an ongoing dialogue with stakeholders. They are supposed to work effectively in order to be supported and facilitated by the government. Important issues related to approaches to attract new investors in the North Central Region were concerned in the course of the discussion. The district administration noted that interest in investing in the region comes mainly from Bulgarian investors, rather than foreign ones, which is worrying. The general opinion of those present was that holding more frequent meetings would help promote the region's potential and attract more investors. The agency presented its project to prepare an investment catalog aimed at informing potential investors of the business climate in different regions of Bulgaria. Thus, IBA urged those present to assist with providing additional information for making the end material complete. Mr. Mladenov thanked the Municipality of Veliko Tarnovo and expressed the willingness of the Agency to work actively with the Bulgarian municipalities in order to make Bulgaria an attractive investment destination. Round table hosted by InvestBulgaria Agency was held on Bulgarian economic forum 2013 Round table, hosted by Mr. Svetoslav Mladenov, Executive Director of InvestBulgaria Agency (IBA), focused on ‘Investment Promotion: Overcoming Legal, Non-legal and Administrative Barriers Facing the Business’ was held on 14 November 2013. The panel was part of the Bulgarian economic forum: “Let’s talk about economy growth generators”. Representatives of different institutions from Southeast Europe took part in the round table: Mr. Milos Jovanovic, Director, Montenegrin Investment Promotion Agency (MIPA), Mr. Hristian Ilievski, Deputy Director of Agency for Foreign Investments and Export Promotion of the Republic of Macedonia, Ms. Edit Gyenge, Adviser to Minister Dan Sova, responsible for Department for Infrastructure Projects and Foreign Investments, Romania, Mr. Tibor Nemet, Head of Trade Department, Embassy page 3 of 26 InvestBulgaria Agency (IBA), 31 Aksakov Str., Sofia 1000 tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320 e-mail: [email protected], http://www.investbg.government.bg Issue 2 (2)/ November 2013 InvestBulgaria Agency of Hungary, Ms. Stefka Slavova, Alternate Director for Poland, Bulgaria and Albania. Board of Directors, EBRD). Mr. Plamen Dilkov, CEO, PVB Power Bulgaria. Mr. Svetoslav Mladenov has outlined the barriers facing business and the actions needed to be undertaken in order to overcome obstacles. The policy of attracting and promoting long-term investments, as well as the ways for creating more favorable business climate were discussed during the panel. Mr. Mladenov shared with the audience that IBA organizes regular meetings with business, state and municipalities representatives, where strategies for attracting new investments and facilitation of easier administrative procedures are discussed. Mr. Mladenov expressed his expectations and hopes for further close cooperation between promotion agencies in the region. page 4 of 26 InvestBulgaria Agency (IBA), 31 Aksakov Str., Sofia 1000 tel.: (+359 2) 985-5500, Fax: (+359 2) 980-1320 e-mail: [email protected], http://www.investbg.government.bg Issue 2 (2)/ November 2013 InvestBulgaria Agency MEDIA FOR INVESTBULGARIA AGENCY Svetoslav Mladenov: InvestBulgaria Agency is the universal PR for Bulgaria „InvestBulgaria Agency (IBA) is the universal PR for Bulgaria”, Mr. Svetoslav Mladenov, IBA’s executive director in Bulgaria On Air ‘s show Investbook said. IBA is working with the government quite well, added Mr. Mladenov. He explained that the IBA has received a few big projects from the Ministry of Economy and Energy, which will be included in the investment catalogue, expected to be issued soon. The catalogue will consist of comprehensive information on the investment climate in Bulgaria and possibilities for investments in different sectors of Bulgaria’s economy. bgonair.bg, photo: bgonair.bg, 31.10.2013. Investors are not afraid of refugee wave and political instability Investors are not interested in problems with refugee wave. When they decide to invest, economic stability, country’s territorial organization and presence of experts in different sectors are the things that matter. It is not expected refugee wave to reflect on investments in Bulgaria because our country is getting international support to solve the problem. This is what Svetoslav Mladenov, InvestBulgaria Agency’s CEO said, cited by Focus Agency. Refugee wave has encompassed not only Bulgaria but also other European countries. Thus the matter has to be inspected both from its exterior and interior side. Externally we get serious support from the EU and from other countries. They help us financially and also give us practical advice how to deal with a matter of such scale that Bulgaria is getting familiar with for the first time in recent years. In his opinion all this is assessed by investors in terms of support that the country gets and in terms of its membership in the EU and the fact that it has a stable currency board. That is to say
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