InvestBulgaria Agency June 2015 HIGHLIGHTS issue 15, year 3 News for InvestBulgaria Agency Economic News - Business, Investments, www.investbg.government.bg Trade Upcoming Events Foreign Direct Investments in Bulgaria NEWS FOR INVESTBULGARIA AGENCY Stamen Yanev: IBA is actively working to reduce the administrative burden on foreign investors InvestBulgaria Agency (IBA) has focused its efforts on reducing the administrative procedures to enable foreign investors to realize their projects quickly and effectively. That said the Executive Director of IBA Stamen Yanev at the opening of the roundtable discussion on "Investment climate and investment opportunities in Southeast Europe", which took place in the context of the Economic Forum for Southeast Europe, organized by the Bulgarian Economic Forum. The workshop was attended by representatives of foreign investors in Bulgaria and directors of agencies for promotion of investment in the region, and the debates were moderated by Stamen Yanev, Executive Director of IBA. Main topics in the debate were the reduction of the administrative burden, strengthening the branding of the country as an attractive investment destination and accelerating the regional economic cooperation. Representatives of foreign companies, which are longtime investors in the country, also shared their expectations and common problems. Reducing the administrative burden, more activity in the advertising of the country together with the foreign investors, the need to reform of the judicial system in the country in order to create quality and independent legal and regulatory authorities to ensure steady growth in foreign investments were among their main remarks. Focus in the conversations was placed on small and medium enterprises, which need assistance in finding markets and access to finance. The forum participants agreed that the exchange of information on projects, know-how and experience of the investment agencies from Southeast Europe with investors and their observations and comments would be very effective in the context of a cooperation between all the actors in the process. Stamen Yanev: Bulgaria will be a natural bridge of economic cooperation between the EU and Asia Bulgaria is a natural bridge for economic cooperation between the EU and Asia, and this cooperation will be developed. This said Stamen Yanev, Executive director of InvestBulgaria Agency (IBA), at his election as a member of the Board of the World Association of Investment Promotion Agencies (WAIPA), representing the countries of Eastern Europe. In the presentation of his candidacy, Stamen Yanev put before the delegates some major accents of the successful strategy, which the agency headed by him follows, to stimulate the interest in the investment environment in Bulgaria. He highlighted the huge economic potential of Eastern Europe and in particular the countries 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 15 / June 201 5 InvestBulgaria Agency of the Balkans, as well as the investment opportunities, advanced bilateral and multilateral cooperation. WAIPA represents 220 organizations, which support and encourage the investments from more than 150 countries. The Governing Council of the organization consists of a Chairman, two deputies and 7 members elected on a regional basis for a period of 1 year. The Director of InvestBulgaria Agency (IBA) Stamen Yanev signed a Memorandum of Understanding with the Agency for investments and external Trade of Portugal The Director of InvestBulgaria Agency (IBA) Stamen Yanev signed a Memorandum of Understanding with the Agency for investments and external Trade of Portugal, which aims to strengthen the bilateral Cooperation and trade and economic relations between the two countries. The document was signed within the framework of the joint Bulgarian-Portuguese Business Forum, which was opened today in Sofia in the presence of the president of Portugal Anibal Cavaco Silva and the president of Bulgaria Rosen Plevneliev. The Director of IBA Stamen Yanev presented to representatives of Portuguese companies the investment opportunities in Bulgaria, the positive business climate and high economic performance of the country and the incentives under the Investment Promotion Act. The Portuguese investments are primarily in the area of cork, the wine industry, the footwear industry and the financial credit sphere. In 2014 they were limited and focused mainly in the sector "commercial intermediation" and "real estate". This year there is a strong interest in possible Portuguese investment in agriculture food and wine industries, announced Stamen Yanev during the Forum. InvestBulgaria Agency signed a cooperation agreement with EEN at BCCI On May 26, 2015 Bulgarian Chamber of Commerce and Industry (BCCI) organized a ceremony for signing an agreement for cooperation under the European entrepreneurial network - Enterprise Europe Network, which the Chamber is hosting. Ms. Madzhide Ahmedova, Deputy Executive Director of InvestBulgaria Agency (IBA), signed the Agreement on behalf of IBA. The ceremony was attended by organizations working in support of the business environment and stimulating innovation in Bulgarian small and medium enterprises. Ms. Ahmedova presented the activities of the Agency and expressed willingness to maintain a sustained and meaningful communication in order to formulate further action for real effect on stimulating entrepreneurship and investment. стр. 2 от 10 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 15 / June 201 5 InvestBulgaria Agency The European Council on Foreign Relations in cooperation with InvestBulgaria Agency organized a discussion with topic:"Does the EU need investment agreement with China?" Does the EU need an investment agreement with China? What are the opportunities and challenges facing Bulgaria in the context of negotiations between the EU and China? How could our country attract Chinese investments? On these and other questions tried to answer the discussion, organized jointly by the European Council on Foreign Relations (ECFR) and InvestBulgaria Agency (IBA), attended by Angela Shtancel (expert in the ECFR), Stamen Yanev (Executive Director of IBA), Daniel Valchev (former deputy Prime Minister and current member of the Board of ECFR). Expanding on the publication of the ECFR "European interest in an investment agreement with China," Angela Shtancel stressed the need for unity in the positions of Member States of the EU as a way for the Union to make the most of the negotiation process with China. Stamen Yanev and Daniel Valchev focused on the prospects for Bulgaria as clarified that our country is a small market for the investor size of China. However, according to them, they are able to attract Chinese investments, if Bulgaria is positioned as a kind of "gateway" to China to the EU internal market. The discussion also focused on the existing format of cooperation with China 16 + 1 and Bulgarian participation. Bulgaria clearly has an interest to attract as many Chinese investments as possible. However, this interest has not yet materialized in a consolidated state position. The formation of regional alliances, including with countries outside the EU in the context of the form 16 + 1, is the opportunity that must be taken into account, according to the panelists. At the event there were about 40 experts from different government institutions and agencies. "Kamenitza" AD invests 30 million euros in brewery in Haskovo Stamen Yanev, Executive Director of InvestBulgaria Agency, was a special guest at the event, held on April 28, at which "Kamenitza" AD announced the investments for the past 18 months in brewing company in the town of Haskovo and declared its readiness to maintain its leading position among customers and consumers of beer in the country for third consecutive year. The event was attended by the Mayor of Haskovo Mr. Georgi Ivanov, Mr. Dobri Belivanov, regional governor of the city of Haskovo and Mr. Stefan Dimitrov, District Chairman of CEIBG for the region. From the beginning of 2014 the company has invested 30 million euro in capital investments in projects in the brewery "Astika". Nearly 6 million euro are the investments only in the logistics base of the beer producer in Haskovo, which after the extensions now has a total area of about 20,000 square meters. In the brewery there is integrated unique for the country anaerobic reactor that provides wastewater treatment of the brewery and is included in the company's long-term investment for zero pollution in the manufacturing process. The total value of the integration of the innovative technology is almost 3 million euro and will allow treatment to 60% of waste discharged in production of brewery "Astika". This will contribute to more fully стр. 3 от 10 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 15 / June 201 5 InvestBulgaria Agency functioning aerobic treatment plant of the brewery, which purifies wastewater and all factories in the northern industrial zone of Haskovo. Furthermore, the reactor will produce biogas as a byproduct, which can be used as an alternative fuel, which serve the energy needs