site.btaDeputy Economy Minister Borissov Takes Part in Automotive Leaders Summit Europe inVienna

Vienna/Sofia, March 15 (BTA) - In Bulgaria, about 170 companies manufacturing parts and systems for major automotive producers generate four per cent of the country's Gross Domestic Product and provide employment to 40,000 people, Deputy Economy Minister Luchezar Borissov said, speaking to representative of the automotive industry at the second edition of the Automotive Leaders Summit in Vienna, the Economy Ministry said in a press release.

Borissov opened the forum. He spoke about the major opportunities and challenges that determine the future development of the sector: positive dynamics of the global economy, the risk of protectionist measures, and the penetration of information technologies.

The event was attended by managers of the biggest companies in the sector. The participants in the meeting noted that Bulgaria has gained a name as a key player and one of the fastest developing destinations in the production of automotive parts.

Individual meetings were held during the forum with representatives of leading companies to discuss concrete opportunities for business and investment in Bulgaria. The Bulgarian delegation had bilateral meetings with LKW Walter and Robert Bosch AG. On the agenda of the talks were Bulgaria's potential in logistics and transport and the opportunities for setting up R&D centres for the automotive industry. On the Bulgarian delegation were representatives of the Automotive Cluster Bulgaria and of the Industrial Zones national company.