The Netherlands Largest Investor in Bulgaria for Past 2 Years

Over the past two years, the Netherlands was the top investor in Bulgaria, followed by Austria according to Borislav Stefanov, Executive Director of the InvestBulgaria Agency. Photo by BGNES

Over the past two years, the Netherlands was the top investor in Bulgaria, followed by Austria according to InvestBulgaria Agency Executive Director Borislav Stefanov.

Speaking Thursday in Varna, he explained that real estate investments had fallen two or three times during the said period, plummeting from a rate of EUR 300 – 400 M per year to around EUR 100 – 150 M.

Stefanov emphasized that the sectors of finance and trade has seen much more pronounced declines.

He cited the processing industry and telecommunications as sectors registering increases.

Stefanov announced that the InvestBulgaria Agency would be implementing an ambitious EU-funded program for attracting investors over the next few months.

He specified that the program included a number of events and campaigns abroad in cooperation with major international media outlets.

The InvestBulgaria Agency head informed that the value of the entire project was BGN 15 M and it included around 30 different activities.

He said that the initiative would include conferences in China, Korea and Japan.

Stefanov explained that Bulgaria would be advertized as an investment destination in eight sectors mainly related to the processing industry, machine building, electronics, electrical engineering, and IT.

He added that Bulgaria would also try to popularize medical tourism.

The InvestBulgaria Agency head reminded that the project had been launched in 2010 but the activities it included had not used up a lot of financial resources.

Stefanov went on to say that the crisis had changed the structure of investments in Bulgaria substantially.

He noted that in the years up to 2009, some 60-90% of the investments had been concentrated in three big sectors - finance, property, and trade, while investments in production, telecommunications and energy had been considered less significant.

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