site.btaPM Borissov Confers with Austrian Ambassador Wicke, Business Representatives

February 10 (BTA) - Speaking during a meeting with Austrian Ambassador to Bulgaria Andrea Wicke and Austrian business representatives, Prime Minister Boyko Borissov underscored that Bulgaria has numerous advantages as an investment destination and his government will continue implementing policies in that direction, the Government Information Service reported here on Wednesday.

Borissov noted Bulgaria's joining the Banking Union and ERM II as exceptional advantages that guarantee financial transparency.

The meeting focused on the development of economic relations between Bulgaria and Austria. Two-way trade, which exceeded 1 billion euro last year, and the impressive Austrian investments in this country are indicative of the potential of these relations, the press release said. Austria ranks second in terms of foreign direct investments with over 350 Austrian companies doing business in Bulgaria.

The results of a survey conducted among Austrian investors in Bulgaria, initiated by the Austrian Embassy's commercial section, were discussed during the meeting. The survey's data reflect the challenges facing Austrian investors in the context of the pandemic. The leading priority in the midst of a global crisis, pointed out by Austrian businesses in Bulgaria, is a predictable economic policy. The survey found that 60 out of 94 companies had managed to avoid layoffs during the pandemic, with some of the companies taking advantage of the Government's socioeconomic measures. Sixty-five of the polled companies said the pandemic had had little or no impact on their future investment plans. The survey also shows that investors see the improvement of infrastructure in Bulgaria as being of key importance to the business climate. Another important matter for investors is related to the labour market and the shortage of qualified workers. Almost half of the Austrian companies that took part in the survey believe that the COVID-19 pandemic's impact on businesses will be felt until 2022. NV/MY



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