What is the reason for Austrian business to support the faster acceptance of Bulgaria into the Eurozone?
Acceptance into the currency union will facilitate trade and economic relations, believes Philip Kupfer, the commercial adviser at the Embassy of Austria in our country
A major challenge for over 90% of Austrian companies in Bulgaria is the loss of predictable economic policy and this has improved the political situation over the last year and the many elections. This was said by Philip Kupfer, commercial advisor at the Embassy of Austria, in the program “Business Start” on Bloomberg TV Bulgaria.
He pointed out that Austrian business prefers the faster acceptance of our country into the Eurozone.
“Austrian business in Bulgaria prefers a quick acceptance of the country into the Eurozone, because it makes economic and trade relations, as well as exchange, easier. This is a signal for a deeper integration and makes economic sense,” comments Kupfer.
“There is already close cooperation between our countries, because we have both large and small companies that are active on Bulgarian territory. In addition, we also have joint work on the improvement of photovoltaic projects”, the sales adviser sells.
He pointed out that Austrian investors in Bulgaria are less skeptical than Austrian investors like the entire Union (EU) and in Central and Eastern Europe about the development of the economy in 2023. The reason for this is that Bulgaria has positive elements, such as business location, strategic, competitive tax system and labor prices, says the guest.
However, according to him, the lack of qualified personnel will be a major obstacle for Bulgaria’s economic growth without timely measures.
“Eight years ago, we started talking about dual training in Bulgaria, provided by the companies. This project is so successful that we currently have 110,000 students who are in this dual education program where theory in school is combined with practice in the company. This is an opportunity to overcome the problem of lack of qualified personnel,” Kupfer also said.
You can watch the entire conversation in the video at Bloomberg TV Bulgaria.
See all the guests in the show here.