site.btaPresident Plevneliev Unveils EOA Annual Conference in Sofia

President Plevneliev Unveils EOA Annual Conference in Sofia

Sofia, October 6 (BTA) - "Bulgaria is a strong and prospective outsourcing destination. We'll continue to work for the success of this global industry," said President Plevneliev during the opening of the annual conference of the European Outsourcing Association (EOA) here on Thursday. Bulgaria is hosting the forum for the first time. In 2015 Bulgaria was named offshoring destination of the year.

The President said that currently 364 outsourcing companies operate in Bulgaria. In 2015, 42,000 people were employed by the industry and their number is expected to reach 64,000 in 2020. Revenues from outsourcing are expected to grow and account for 3.4 per cent of the national GDP. Some 1.4 billion euro are generated in revenues from Bulgarian outsourcing companies, with turnover set to double by 2020, said Plevneliev.

"I believe in the potential of my country. For the past four years the outsourcing industry together with IT and communication and the automotive cluster have become the engine of industrialization in Bulgaria which is a success for the government and the President who championed these three industries during his term," said Plevneliev.

The head of state also said trends suggest that the outsourcing has the potential to expand and establish itself as a more widespread business practice in the next five years.

Economy Minister Bozhidar Loukarski said that the most serious midterm risk is the presence of skilled workers. Because of the growth rates and the increase in the number of employees in the sector there is a growing shortage of skilled workers, said Loukarski. He singled out dual education as a way out of the crisis on the labour market.