site.btaEconomy Minister Presents Investment Opportunities in Bulgaria to Leading German Automotive Parts Producer

Economy Minister Presents Investment Opportunities in Bulgaria to Leading German Automotive Parts Producer

Bonn/Sofia, February 12 (BTA) - The investment opportunities in Bulgaria featured on the agenda of the talks between Economy Minister Bozhidar Loukarski and representatives of the German company Boco Boddecker & Co. GmbH & Co. KG, a leading automotive parts producer, in Bonn on Thursday, the Economy Ministry reported Friday. The meeting was part of Loukarski's visit to the German state of North Rhine-Westphalia.

Boсo Boddecker is a leading producer of innovative latching systems for hoods and tailgates and hinges and locks.

During the meeting, the German company's representatives said that they are exploring Bulgaria's investment climate because they would like to expand their activity within Eastern Europe, and Bulgaria is one of the attractive business destinations for them.

Loukarski said that his country is a very good business destination which offers the lowest tax levels in the EU and preferences for investors, such as a zero per cent taxation when the profit is reinvested in regions with unemployment of over 25 per cent. He added that Bulgaria's unemployment level has dropped to under 10 per cent in the last year and its GDP reached 2.9 per cent, which far exceeds the European Commission's initial forecasts.

The Economy Minister noted that his ministry undertakes active measures to promote investments by elaborating a concept for a National Strategy for Popularizing Bulgaria as Investment Destination 2015-2020. The representatives of Boco Boddecker asked about the opportunities for dual education and finding qualified workers in Bulgaria.

Earlier on Thursday, Loukarski gave an interview for Deutsche Welle in which he talked about his expectations from his visit to Germany and the opportunities for finding potential investors.

On Friday, the Bulgarian Economy Minister and Garrelt Duin, Minister for Economics, Energy, Industry and Commerce of North Rhine-Westphalia, are scheduled to present the opportunities for deepening the bilateral relations at a North Rhine-Westphalia - Bulgaria economic forum.