Bulgaria is attractive to American investors as a member of the EU, with low business and expertise costs
Bulgaria is an attractive destination for American investors as a member of the low union because it gives stability and access to the entire European market. This was commented on in the evaluation of the interview for BTA by the deputy mayors of the USA in Sofia and Plovdiv, Doncho Barbalov and Stefan Stoyanov, who work respectively in the “Finance and Health” and “Education, Business Development and European Policies” departments.
The two are part of a delegation that participates in two international business and investment forums within the framework of the project “Confirmation of Bulgaria as a successful investment destination” under the Operational Program “Innovations and Competitiveness” 2014-2020. The events take the form of a roadshow and are organized by the Bulgarian Investment Agency.
The first conference was held in Sunnyvalethe state of California, with a focus on the “Outsourcing” and “Information Technologies” sector, and the second – in Portlandindustrially oriented.
According to the two deputy mayors, the country has an advantage not only in its geopolitical position, but also in the concentration of capacity and expertise of qualified personnel.
Within the framework of the conferences, Doncho Barbalov and Stefan Stoyanov also participated in individual meetings to attract investors in the two economically-led communities in our country.
The Deputy Mayor emphasized the good organization of the Bulgarian Investment Agency for these conferences and emphasized the good cooperation of the agency with the local government.
“Here we have a very large field of expression – firstly, the USA as the largest economy in the world, and secondly, the opportunity to visit two largest western states – California as a key for the economy communicates to North America and the world in the technological part, but and Oregon, where we are currently and the meetings are going on in a large scientific center for technology transfer, in which three universities are united,” said Stefan Stoyanov.
According to him, due to its relatively low taxes and still relatively low costs compared to other EU countries, Bulgaria is one of the best places for production and for starting a business in the EU.
This trend will continue for the next few years and we should make the most of it. We as a country should no longer have every investor who would be interested, but rather more high-tech manufacturing, involvement with scientific development centers, business services, that’s where higher wages can be paid. The task before our economy is to transform the economy as quickly as possible into one with higher added value in order to raise the general standard of living, Deputy Mayor Stoyanov pointed out.
Doncho Barbalov pointed out that Sofia is one of the big cities in the low union, where there is concentrated capacity, expertise and many people who can work on various projects and initiatives, and this is one of the significant amenities of the Capital Municipality.
“What was very useful from the meetings in Sunnyvale is precisely building a system, a mechanism where we can support from the very first steps good ideas and companies with good potential so that you can develop, and right in the first times when we need help the most, to be there,” he said. In Portland, the talks are focused on more traditional business and cooperation with Oregon, which is one of the fastest-growing states in the United States.
As a field for work and attraction of serious investors, Doncho Barbalov singled out the processing of materials that are separated in the waste separation process.