site.btaAutomotive Industry Quadruples in Ten Years

Sofia, February 8 (BTA) - The automotive industry accounts for 3.6 per cent of the Gross Value Added and has more than quadrupled in the past ten years, said Thursday Economy Minister Emil Karanikolov. He was speaking at a conference on the state of play of the automotive industry in 2017, organized by the Automotive Cluster Bulgaria. Companies in the industry number over 130 and employ more than 30 000 people.

The Economy Minister said that automotive exports grew by 60 per cent in 2010 and data about 2014 and 2015 show that the growth had persisted 17 and 16 per cent respectively.

Minister Karanikolov said that in order for the industry to operate efficiently it needs skilled workers. Bulgaria has 17 higher schools, 103 vocational schools, a college and five high schools with specialized classes.

Between 2005 and January 2018 under the Investment Promotion Act over 20 certificates were issued to automotive companies, worth nearly 800 million leva with 12,664 jobs.

In 2018, a delegation including former president Rosen Plevneliev (2012-2017) and Economy Minister Emil Karanikolov will start a tour of European and non-European markets in search of a global automotive manifacturer willing to relocate its operation to Bulgaria.