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Bulgaria with Over 74 000 Jobs in Manufacturing

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Bulgaria with Over 74 000 Jobs in Manufacturing PLOVDIV INVESTMENT DESTINATION 2020/2021 INVESTMENT DESTINATION PLOVDIV PUBLISHED BY PLOVDIV MUNICIPALITY COPYRIGHT 2020 PLOVDIV MUNICIPALITY WELCOME TO PLOVDIV ‣ Plovdiv is the biggest industrial center of Bulgaria with over 74 000 jobs in manufacturing. ‣ Trakia Economic Zone hosts over 200 multinational and local producers. Zdravko D"m"trov Mayor of Plovdiv ‣ A local economy with predominant business profile – close to 70% of all value added is created in As the mayor of Plovdiv, I am proud manufacturing and B2B services. to introduce the 2020 edition of the “Investment Destination Plovdiv” ‣ IT&BPO are the fastest growing catalogue. sectors - outnumbering 7000 jobs This may be your first encounter and a 10,6% annual growth of with Plovdiv or you may be update productivity. previously known facts about the ‣ City’s pool of talent is steadily region. In any case, it is just the first expanding - about 34 000 step of a journey that I and my team students, positive migration will join you in. balance, growing expat community. 1 TABLE OF CONTENTS KEY FACTS 1 WHY CHOOSE PLOVDIV, BULGARIA DOING BUSINESS IN BULGARIA 2 ECONOMIC FREEDOM IN A RISING EU MEMBER INVESTOR INCENTIVES SINGLE POINT OF CONTACT FOR AN EASY SETUP 3 OF OPERATIONS LOCAL ECONOMY ONE OF THE BIGGEST MANUFACTURING CLUSTERS 4 IN CENTRAL & EASTERN EUROPE LABOR MARKET POSITIVE NET MIGRATION FUELS AN EXPANDING 5 POOL OF TALENT MANUFACTURING GROWTH DRIVEN BY AUTOMOTIVE & OTHER 6 DISCRETE MANUFACTURING SECTORS 2 MAJOR INVESTORS LIST OF MULTINATIONAL & LOCAL INDUSTRIAL 7 COMPANIES EDUCATION DIVERSE ECOSYSTEM OF HIGH SCHOOLS AND 8 UNIVERSITIES IT&BPO FASTEST GROWING SECTOR ATTRACTS GLOBAL 9 TALENT TO THE CITY PROPERTY MARKET NETWORK OF WELL DEVELOPED INDUSTRIAL 10 PARKS AND OFFICE CENTERS PUBLIC SERVICES 11 FAST IMPROVING UTILITIES INFRASTRUCTURE QUALITY OF LIFE AFFORDABLE COST OF LIVING AND RICH 12 POSSIBILITIES FOR SPORTS & LEISURE 3 KEY FACTS BULGARIA IS A 1.1 MEMBER OF: EUROPEAN UNION SINCE 2007 ERM II & HAS A FIXED RATE TO € EU BANKING UNION SINCE 2020 NATO SINCE 2004 Vienna 1 156 km Bucharest 386 km Danube River VII IX Munich Port of Russe 313 km 1 480 km Varna Port 368 km IV X VIII Sofia Airport 146 km Burgas Port 256 km PLOVDIV Istanbul 419 km Durres (Ferry to Italy) 700 km Port of Haydarpasa 424 km Thessaloniki Port 334 km Alexandroupoli Port 237 km 4 KEY FACTS 1.2 WHY PLOVDIV? CENTER OF А REGION WITH A HIGH QUALITY OF LIFE AND GREAT POPULATION OF 770 000 AND WORK-LIFE BALANCE 18 000 EXPATS #1 INDUSTRIAL LEADER IN HIGHLY DEVELOPED CLUSTER OF BULGARIA WITH OVER DISCRETE MANUFACTURERS 74 000 JOBS LEADING UNIVERSITY CENTER INTERNATIONAL SPOTLIGHT FOR WITH OVER 34 000 STUDENTS INVESTORS AND DIGITAL NOMADS SINGLE POINT OF CONTACT AND SECOND BIGGEST IT CENTER WITH AN ALL-IN SERVICE PACKAGE FOR SOME 7000 JOBS INVESTORS AMONG TOP 10 MID-SIZED CITIES WITH BEST FDI STRATEGY AND COST-EFFECTIVENESS fDi Intelligence 5 DOING BUSINESS IN BULGARIA 2.1 MACROECONOMIC NUMBERS €60.7 billion 3.4% 70.1% GDP CHANGE EMPLOYMENT RATE GDP €38.6 €36.5 124% billion billion EXPORTS AND IMPORTS EXPORTS IMPORTS (as % of GDP) ERM II THE LAST STEP BEFORE ACCEPTING THE EURO Bulgaria is expected to join the Eurozone in 2023 BANKING UNION HELPS TO CREATE A MORE TRANSPARENT, UNIFIED AND SAFER MARKET FOR BANKS Allows for the consistent application of EU banking rules € FIXED EXCHANGE RATE SINCE 1997 To stay in place until Bulgaria joins the Eurozone Governments maintain fiscal policy with low deficits or even surpluses 20.4% 2.1% 3.1% GOVERNMENT DEBT BUDGET SURPLUS INFLATION (as % of GDP) (as % of GDP) 2nd lowest in EU 3rd highest in EU Source: NSI, BNB, Eurostat, 2019 6 DOING BUSINESS IN BULGARIA 2.2 INVESTMENT CLIMATE 10% 34.8% FLAT CORPORATE & TAXES ON LABOR AS % 5% PERSONAL INCOME OF LABOR COSTS WITHHOLDING TAX TAX RATE ON DIVIDENDS DISTRIBUTED TO NON EU/EEA 20% €18 400 COMPANIES MAXIMUM ANNUAL VAT SOCIAL SECURITY BASE TH (out of 162) 37 ECONOMIC FREEDOM OF THE WORLD Fraser Institute, 2019 ST (out of 190) 21 TRADING ACROSS BORDERS DB Index 2020, World Bank TH (out of 141) 49 GLOBAL COMPETITIVENESS INDEX World Economic Forum, 2019 Cost of enforcing contacts (% of claim) 18.6% 21.5% 26.6% OECD EUROPE & BULGARIA high income CENTRAL ASIA Source: Doing Business database, 2020 7 INVESTOR 3 INCENTIVES Financial incentives representing regional state aid FINANCIAL SUPPORT FOR CONSTRUCTION OF TAX RELIEF TECHNICAL INFRASTRUCTURE ELEMENTS (used exclusively by the investor) FINANCIAL SUPPORT OF UP TO 25% FOR THE PROVIDING A GRANT OF UP TO 10% OF THE VOCATIONAL TRAINING FOR OBTAINING TOTAL INVESTMENT COST PROFESSIONAL QUALIFICATIONS ACQUIRING OWNERSHIP RIGHTS OR LIMITED REIMBURSEMENT OF LABOR COSTS OWNERSHIP RIGHTS OVER REAL ESTATE AT A PAID BY THE EMPLOYER FOR A PERIOD OF PRICE LOWER THAN THE MARKET UP TO 2 YEARS (but not lower than the tax assessment) INTRODUCING EXEMPTION FROM THE IMPORTING ASSETS WITHOUT EFFECTIVE OBLIGATION OF PAYING AN AGRICULTURAL PAYMENT OF IMPORT VAT LAND TRANSFORMATION FEE Construction of public infrastructure elements, that can also be used by other investors, is not considered a regional state aid Non-financial incentives INDIVIDUAL ADMINISTRATIVE AND ADMINISTRATIVE PROCEDURES SHORTENED INFORMATION SERVICES INTERDEPARTMENTAL TASK FORCE FOR ACQUIRING REAL ESTATE WITHOUT TENDER INSTITUTIONAL SUPPORT PROCEDURE OR COMPETITIVE BIDDING ESTABLISHMENT OF PUBLIC-PRIVATE PARTNERSHIPS WITH MUNICIPALITIES, UNIVERSITIES AND OTHER ORGANIZATIONS 8 Maximum financial incentives intensities under European Commission regulation For projects with expenditures 50% below €50 million OF THE TOTAL INVESTMENT COST MAXIMUM AID AMOUNT = For projects with expenditures 50% x (50 + 0.5xB + 0.34xC) above €50 million B is the part of eligible costs between €50-100 million C is the part of eligible costs above €100 million MAXIMUM AID AMOUNT = Example: OEM with 500 million 50% x (50 + 0.5x50 + 0.34x400) = total investment cost €105.5 million Thresholds for special investment status Priority Class A Class B €25.6 €5.1 €2.6 million million million Plovdiv Municipality provides investors a ✔ single point of contact & an all-in package ✔ ✔ of services, including preliminary ✔ researches and consultations, staff recruitment support, local media promotion, etc. In the coming years Plovdiv municipality will implement projects making the industrial parks easily accessible & faster, including: ✓ Modernizing the railway to support high-speed international trains ✓ Completion of the road, which connects Plovdiv & nearby villages in the Rhodope area ✓ Completion of the Plovdiv ring road ✓ Construction of a road underpass under the Plovdiv Railway station 9 LOCAL ECONOMY 4.1 VOLUME & STRUCTURE South-central Plovdiv district region Bulgaria TURNOVER €14.3 €20.2 €150.4 billion billion billion OUTPUT €8.8 €13.7 €92.5 billion billion billion NUMBER OF 222 401 2320 JOBS thousand thousand thousand Plovdiv has a well developed business service sector, which provides all the high-quality services a manufacturing company might need Local economy structure (by added value) 0 IT, BPO & B2B 27.9% 0 Public services & regulated markets 11.9% Consumer services 10.8% Manufacturing 0 39.9% Construction 5.5% 0 Others 4.1% 0 Source: Trakia Economic Zone based on NSI (data on district level for 2018) 10 LOCAL ECONOMY INVESTMENTS & 4.2 PRODUCTIVITY €4.5 €6700 6.6% billion ANNUAL GROWTH GDP PER CAPITA GDP (2010-2018 average) Rise of productivity €319 million €953 is ensured by million CUMULATIVE FDI FIXED CAPITAL abundant capital EXPANSION FOR THE EXPENDITURES IN 2018 investment LAST 3 YEARS Source: NSI (data on district level for 2018) Industrial space & warehouse construction enhance the rapid development of Plovdiv as a manufacturing leader and logistics hub 430 000 m2 557 000 m2 (4.6 million ft2) (6 million ft2) APPROVED FOR APPROVED FOR NON-HOUSING HOUSING CONSTRUCTION IN 2019 CONSTRUCTION IN 2019 16.2% 13.5% OF ALL PERMITS IN THE OF ALL PERMITS IN THE COUNTRY COUNTRY Source: NSI (data on district level for 2019) 11 LABOR MARKET 5.1 POPULATION 772 000 45 MIN. FROM INDUSTRIAL ZONES 535 000 30 MIN. FROM DOWNTOWN Population by age in wider Plovdiv (distance 45 min.) Under 20 20-44 45-64 65-74 75+ 151 000 247 000 213 000 91 000 70 000 Plovdiv has the biggest net annual 7500 1800 change among the NEW INHABITANTS NET ANNUAL CHANGE (city) (city) Bulgarian cities, besides the capital 6.3‰ 17 900 3300 NET MIGRATION EXPATS INTERNATIONAL 10-29 YEARS (residing in the district STUDENTS (district) for more than 3 months) Source: Data from universities, Ministry of interior, NSI, 2019 12 LABOR MARKET 5.2 WORKFORCE More than any +17 900 70.3% (15-64 years) other region in the WORKFORCE GROWTH EMPLOYMENT RATE country SINCE 2010 (EU average: 68.5%) Source: NSI (data on district level), Eurostat, 2019 Local economy structure (by number of jobs) 49 800 Plovdiv is the region IT, BPO & B2B 49 800 with most people 36 400 working in Consumer services 36 400 manufacturing companies in Construction 11 400 221 800 Bulgaria payroll jobs 11 400 Others 6300 6 300 Manufacturing74 700 Public services & 74 700 regulated markets 43 200 43 200 53 600 38 200 313 600 PART-TIME FREELANCERS & TOTAL EMPLOYMENT EMPLOYEES FAMILY WORKERS Industrial labor pool in closest districts Stara Zagora Pazardzhik Haskovo 35 900 21 400 14 900 Source: NSI (data on district level for 2018) 13 MANUFACTURING INDUSTRY 6.1 SNAPSHOT Discrete manufacturing as % of manufacturing employment 2018 2010 The foreign capital 70% 64% 65% inflows are shifting from58% 47% 47% 63% 47% 41% 57% mass production
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