InvestBulgaria Agency March 2016 HIGHLIGHTS issue 18, year 4 News for InvestBulgaria Agency Economic News - Business, Investments, www.investbg.government.bg Trade Upcoming Events Foreign Direct Investments in Bulgaria NEWS FOR INVESTBULGARIA AGENCY Invest Bulgaria Agency handed the “Oscars” of the economy on the 10th anniversary ceremony "Investor of the Year 2015" For the tenth time InvestBulgaria Agency (IBA) presented the awards "Investor of the Year" and honored the most significant investment projects implemented in Bulgaria during the last year. The ceremony was held on February 10, 2016 in Sofia Hotel Balkan. At the event attended the Deputy Prime Ministers Meglena Kuneva and Tomislav Donchev, Ministers Bojidar Lukarski, Nikolina Angelkova, Ivelina Vasileva, Lilyana Pavlova, deputy ministers Lyuben Petrov and Daniela Vezieva, many representatives of the business elite and leaders in the public and political life. Among the guests were also the ambassadors of Germany, Japan, Kazakhstan, Turkey, Romania, Azerbaijan, Algeria, Belgium, Slovakia, South Korea, many sales representatives, chairmen of bilateral trade and industrial chambers, lawmakers from different parliamentary groups and journalists. "I'm really glad to see you here together, as responsible institutions and individuals participating in the investment process. We worked tirelessly in 2015 in order to achieve 20% growth in investments. On the basis of our collaboration with the responsible authorities the term "It’s not going to happen" was replaced with "It can be done" and investors may find their suitable investment environment here in Bulgaria. We set the tempo high in 2015, and we do hope to continue. So I want to thank you, but also to ask you for patience because from tomorrow we start with a mutual demanding job, so that investors would prefer our country to realize their business. Finally I want to thank you and give attention to our stars tonight, the investors in Bulgaria. "With these words, the executive director of the InvestBulgaria Agency- Stamen Yanev welcomed all the attending guests. Over 70 applications were received from companies in all sectors of the economy, information technology, health care, sent from ministries, regional administrations and municipalities. After discussion and evaluation by an objective methodology 17 companies, that realized investment projects in 2015, reached the finish line. 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 18 / March 2016 InvestBulgaria Agency The Deputy Prime Minister Tomislav Donchev handed the prize for "Investor of the Year" to Mining and Processing Complex "Asarel Medet" - "Asarel Panagyurishte Health" of prof. Dr. Lachezar Tsotsorkov, Chairman of the Supervisory Board of Mining and Processing Complex "Asarel -Medet" AD, and Borislav Atsev. Woodward, Standard Profil Bulgaria EAD, Kostal Bulgaria LTD and Walltopia LTD received the statuette Golden Bull, made by the sculptor Seyfetin Shekerov. Awards 1. The Golden bull statue, made by the sculptor Seyfetin Shekerov and the Diploma Investor of the Year for achievements in 2015 - Mining and Processing Complex "Assarel Medet" AD- "Asarel Panagyurishte Health" The project to build a modern medical complex with multi hi-tech center for radiotherapy in Panagyurishte is implemented by "Asarel Panagyurishte Health" AD. The modernized hospital in Panagyurishte has equipment of the last generation. The center is expected to receive the two of the best multimodal medical linear accelerators in Bulgaria and Southeastern Europe which are of the highest class worldwide. For every 50 patients who will be treated at the oncology center, the state will save around BGN 1 million from the budget of the National Health Insurance Fund, as prices carried out by the services of health insurance fund will be about two times lower here compared to the prices in Turkey and three times lower than the prices in Germany. The hospital complex includes 296 beds and 700 medical and non-medical personnel, only for staff training around BGN 400 000 are provided annually. The main objective of the project is the transformation of Panagyurishte’s Hospital in a unique, modern medical complex not only for Bulgaria but also for Southeast Europe. The total investment is over BGN 60 million. The number of jobs created for the entire project: 700 medical and non-medical. The award was presented by the Deputy Prime Minister and Minister of EU Funds Tomislav Donchev who said: "Doing business and investing in such interesting times is not for everyone and thus it is a great achievement. Today Bulgaria lack heroes. Those who do not sleep while others sleep, those who are not content with little, those who want more - are the heroes. Those are the people who work better tomorrow than yesterday, those who risk not only their spare time but their property and their health". The prize received prof. Dr. Lachezar Tsotsorkov, Chairman of the Supervisory Board of Mining and Processing Complex "Asarel Medet" and Borislav Atsev- governor. Prof. Dr. Lachezar Tsotsorkov: "I wish to thank the jury for its appreciation, our team of 1,800 people and the government, which adopted in 2015 the national strategy for development of mineral-raw materials industry, the mining industry. With a European vision which will give courage to the investors in Bulgaria. The companies in this industry contribute exceptionally for the socio-economic development in the regions where they operate". 2. Greenfield investment: WOODWARD Inc. The company Woodward BULGARIA Ltd. is in Bulgaria since 2011. Total investment: BGN 9.135 million. Number of jobs: 133 during the first three years. Production: electromechanical components and assemblies for the aviation. Markets and realization: Clients are leading manufacturers of aircrafts and avionics - BOEING, AIRBUS, GENERAL ELECTRIC Handing the prize was the Minister of Regional Development and стр. 2 от 11 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 18 / March 2016 InvestBulgaria Agency Public Works Lilyana Pavlova "I assure you that we will try hard to relieve your investments and make it easier for them to expand increasingly." declared Minister Pavlova. Emil Iliev, manager, received the prize. 3. Investments in human capital - Standard Profil Bulgaria EAD Production of rubber sealing systems for the automotive industry The latest investment was BGN 20.5 million The number of revealed new jobs in 2015 – 268 Markets and realization - Germany, Poland, England, France, Italy, Serbia, Russia, Romania, Mexico, USA, Canada, China, Korea The prize was handed by the Minister of Environment and Water Ivelina Vasileva "I think nature is one of the most important preconditions for the sustainable development of the economy. Bulgaria has its beauty. The people are the capital of a country that has chosen the modern way of sustainable development. This is the investment with the highest returns, because only by investing in our human capital, we will achieve prosperity and raise the standard of living of our citizens. " The prize was received by Petar Angelov, Director. 4. Investments in expanding business: Kostal Bulgaria Ltd. The company was established in 2011 in Bulgaria. Total investment: by the end of 2015 – BGN 37 million. Turnover for 2015 is over BGN 100 million. Production: Every week management modules and other modules for over 100,000 cars are being produced. Number of new Jobs: over 1000 Markets and realization: In Bulgaria we produce parts for the majority of international manufacturers such as Ford, VW (Audi, Skoda, Porsche, Bentley), Fiat, Daimler, Renault. The Economy Minister Bozidar Lukarski handed the prize. "It's an honor to reward the winner, namely in the category for" Investment in business expansion” because for us are important not only the new investors, but also those who remain and further develop their investments. I am glad that the majority of foreign investors remains and expands their projects, this shows that the conditions that we offer provide stable outlook in the long run. This is what business needs in Bulgaria and this is the direction in which we have focused our efforts. " Receiving the award: Joachim Grabovski- general manager 5. Investing in innovative businesses - Walltopia Ltd. On the Bulgarian market for: 18 years Total investment: BGN 16.4 million. Number of created jobs: 490 Walltopia is a world leader in the production of artificial climbing walls, to current date, the company has built over 270,000 square meters in climbing walls. The main activity of Walltopia is the design and production of climbing walls. Since 2012 onwards the company expanded its portfolio and currently has a number of completed projects in the entertainment industry. The products produced for this sector are: Fun Walls- interactive children's climbing walls, Rollglider - facility, giving the feeling of free flight, but in a safe environment; Ropetopia стр. 3 от 11 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 18 / March 2016 InvestBulgaria Agency - rope parks with obstacles; structure and rope attraction hurdles; Rocktopia - equipment for theme parks, interactive structures for children's centers and museums, playgrounds for children. Markets and realization: Currently Walltopia has completed over 1,500 projects in more than 50 countries on 6 continents. The company has offices in the USA, Canada, Austria, Germany, Malaysia and Russia and works with more than 20 of its regional offices worldwide. Awarding the prize: Deputy Prime Minister for Coordination of European Policies and Institutional Affairs and Minister of Education and Science Meglena Kuneva "Last year I had the pleasure to participate in this celebration and I want to tell you that there really is growth. There is growth in self-confidence, there is growth in scale.