Bulgaria, China to Create Joint Company for Industrial Zone Project

The Bulgarian and Chinese parties have reached an agreement to create a joint company to operate the future business zone to be built in Bozhurishte nearby Sofia.

Bulgaria is expected to send documents on the creation of the company to China by beginning of October.

This agreement was made during the official visit of Bulgarian Deputy Minister of Economy Evgeni Angelov to China and was signed by him and Zhejiang Province governor Lu Zushan.

Deputy minister Angelov also met deputy governor Gong Zheng and deputy director of the biggest business zone in Zhejiang.

The Bulgarian government came up with the Bozhurishte industrial/business zone project in the spring of 2010. In June Minister of Economy Traicho Traikov made a visit to China, announcing afterwards that Chinese companies have a strong interest in investing in Bulgaria.

The site for the Bozhurishte project has an area of about 500 acres and is already at the disposal of the Ministry of Economy.

According to the Ministry, close to 1/3 of the area will be allotted to Chinese companies.

The Bulgarian partner in the project will be the National Industrial Zones Company, while the Chinese partner is to be determined.

During his visit to China, which lasts September 8-14 and includes a participation in the International Business Week in Zhejiang forum, deputy minister Angelov met economic officials of the province, as well as representatives of local businesses, who were made familiar with opportunities to invest in Bulgaria.