site.bta Bulgaria Shifts in Focus of Bavarian Investment Interests

Bulgaria Shifts in Focus of Bavarian Investment Interests

Sofia, July 13 (BTA) -  Bavarian investment interests are
focusing on Bulgaria thanks to the political stability and the
visible efforts by the Bulgarian government to implement key
reforms in areas such as the judiciary and the public
administration. This emerged during a meeting on Monday between
Economy Minister Bozhidar Loukarski and Bavarian Minister of
Economic Affairs, Media, Energy and Technology Ilse Aigner, the
Economy Ministry said.

"The political stability and the economic growth that the
government has managed to achieve in just eight months are
turning Bulgaria into a prospective destination for German and
Bavarian investments," said Loukarski. According to him, these
advantages are very tangible against the backdrop of
developments in Greece, Macedonia and Romania. Voicing support
for the policies implemented by the Bulgarian government, Aigner
 said that Bavaria is interested in investing in Bulgaria. She
said that Bavarian companies are looking for stability and
efficient state administration, adding that investments will
focus in the IT sector, machine building and the automotive
industry. In October, Aigner's deputy, Franz Josef Pschierer,
will lead a business delegation to Bulgaria. In order to
encourage investments by Bavarian companies in Bulgaria, the
meeting discussed the possible signing of a cooperation
memorandum between the InvestBulgaria Agency and the respective
peer organizations, Invest in Bavaria and Bayern International.
InvestBulgaria Executive Director Stamen Yanev said that such a
cooperation would prove valuable for Bavarian and German
companies which are considering moving their operations from
Greece to Bulgaria.

The meeting outlined dual education as a sphere of potential
cooperation between Bulgaria and Bavaria. Germany is funding
joint projects in eleven countries for the introduction of dual
education and Bulgaria may join them. According to Aigner, the
first step is to train specialists who will adapt the German
model to the Bulgarian realities. She suggested training courses
 for Bulgarian specialists in Germany as dual education in
Bulgaria is implemented by several companies.

Addressing an economic forum, State Secretary Pschierer said
that many Bavarian companies have seen Bulgaria's potential, are
 investing longterm and that the Bavarian success is owing in
part to Bulgaria. He added that thanks to the economic reforms
implemented by the Bulgarian government, there is a potential
for advancement of bilateral relations and that Minister Aigner
will make every effort to step up the exchange. He added that
Bavaria's economic policy will focus on digitization in several
key areas: industry, mobile networks, IT security, energy,
healthcare and media. He outlined potential partners in Bulgaria
 in bio and solar technology.

Bavarian businesses declared their interest in investing in the
IT sector, the automotive industry, the pharmaceutical industry,
 RES power, rail transport and the concession of Sofia Airport.

The main questions raised by the Bavarian companies were about
the availability of skilled workers and measures to promote
startup companies and small and medium sized enterprises.