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Bulgaria Certifies 5 First-Class Investor in 5 Months

1 min read Source: Novinite

From our news archive: this article was published in June 2012. Figures and rules may have changed since.

Since the beginning of 2012, Bulgaria has awarded five "Class A" investor certificates for investments of over EUR 225 M, compared to three first-class investor certificates for the entire 2011, according to Economy and Energy Minister Delyan Dobrev.

On Wednesday, Dobrev awarded a"Class A" investor certificate to Swiss company Reichle & De-Massari, which is to invest BGN 9.7 M into a new Sofia-based factory specialized in the manufacturing and assembly of fiber-optic components.

The factory is scheduled to become functional in October and to open around 100 job places by end-2012, with the option to increase the staff to a total of 250.

Dobrev pointed out Wednesday that the investment was being made in a high added-value sector, while the plant's output would be sold across the world, which would be an acknowledgement of the country's potential and of the competitive advantages it could offer.

Bulgaria's Energy and Economy Minister further cited Switzerland as a promising investor and economic partner.

He said that Switzerland's foreign direct investments (FDI) in Bulgaria amounted to around EUR 1 B for the past 16 years.

Dobrev specified that the trade turnover between the two countries had increased by 19% in 2011, with a 25% growth in exports to Switzerland and a 16% increase in imports from Switzerland.

Swiss Ambassador to Bulgaria Regina Escher, who attended Wednesday's ceremony, defined investments by private companies as a key element in Swiss-Bulgarian relations.

Speaking in Bulgarian, she explained that Reichle & De-Massari's investment was going to a sector with huge potential and a wide variety of technologies.

"I believe that with this investment the Swiss qualities of accuracy and efficiency could help a lot," the diplomat added.

Originally published by Novinite.