Chinese Companies Seek to Invest Big in Bulgarian AgricultureBusiness | May 13, 2011, Friday // 15:35| views
Chinese businesspeople met with Bulgarian Agriculture Minister Miroslav Naydenov to consider possible investments. Photo by Agriculture Ministry/BGNES
Chinese companies have demonstrated committed interest in investment in Bulgaria's agriculture, according to Agriculture and Foods Minister Miroslav Naydenov.
Naydenov met Friday with a Chinese business delegation, including Tianjin State Farms Agribusiness Group Company, which declared its readiness to rent 100 000 decares of land, mostly in Northwestern Bulgaria.
Tianjin State Farms Agribusiness Group Company is seeking to buy or rent 12 000 decares in the Vidin District, and more land in the districts of Vratsa and Montana, also in the Northwest, which is the poorest region in the EU. In addition, the Chinese corporation is interested in some 40 000 decares of land in the Yambol District in the southeast.
According to the Vice President of the company, Li Liyan Suo, the potential investors are interested in breeding corn and forage crops, and to export the produce to China.
He pointed out that China is currently importing the same agricultural products from the USA, and that their investment in Bulgaria will create jobs and stimulate domestic demand.
Tianjin State Farms Agribusiness Group Company is the first agricultural cooperative in the Chinese province Tianjin; it deals with food industry, agriculture, cattle breeding, metallurgy, and real estate.
"Foreign investment is welcome in the Bulgarian agriculture," Minister Naydenov told the Chinese investors stressing that they will be able to take advantage of all respective tax cuts and breaks.
Mrs. Dzang Chu Ya, a representative of the Sino French Venture Dynasty Winery, said her company wanted to buy a winery in Bulgaria and to export its produce to China, and/or to buy or rent vineyards in the country. In her words, the Sino French Venture Dynasty Winery has a guaranteed market, and is currently facing shortages of produce to sell.
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