site.btaPresident Radev: Opening Chinese Plant for Electric Car Parts Is Clear Positive Signal for Development of Bilateral Economic Relations

Head of State Rumen Radev and the General Manager of Shanghai Unison Aluminum Products Luo Shibing discussed the opening of a Chinese company's plant for the production of parts for electric vehicles and its subsequent expansion at a meeting in Radev’s office on Wednesday. The project in Bulgaria is being implemented through the subsidiary company ZS Europe, and the Chinese investor is ready to start the production of aluminium chassis and battery boxes for electric vehicles on the territory of the Trakia Economic Zone near Plovdiv by the end of 2024. The plant is expected to create between 150 and 200 jobs. 

At the meeting, President Radev was briefed on the investment intentions of the Chinese company, and in Luo Shibing's words, the first phase of the plan to establish a production base in Bulgaria will be completed by the end of the calendar year, and in 2025 the production will be expanded with a second and third phase, bringing the total investment in Bulgaria to over BGN 300 million. Rumen Radev welcomed the intentions to increase the presence of Chinese business here and underlined the excellent macroeconomic and geostrategic conditions that this country offers for foreign companies to establish here. The head of State pointed out that during his visit to China in 2019, a declaration on strategic partnership was signed at the highest level, and the opening of a factory by a Chinese investor is a clear positive signal for the development of bilateral economic relations.

President Radev also highlighted the significant potential for the development of investment cooperation between Bulgaria and China. In his words, the opening of a direct airline between Beijing and Sofia will further promote communication between businesses, economic exchange and tourism.