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Businessmen with Plan for Doubling German Investments in Bulgaria
Date: 11/10/2010
Businessmen with Plan for Doubling German Investments in Bulgaria

The German-Bulgarian Chamber of Industry and Commerce has presented to German Chancellor Angela Merkel in Sofia a plan for doubling the German investments in Bulgaria and the bilateral trade by 2015.

Mitko Vasilev, Chief Manager of the German-Bulgarian Chamber of Industry and Commerce (DBIHK), presented the "Action Plan 2015" to the German Chancellor at a business forum in Sofia Monday night organized in connection with Merkel's first ever visit to Bulgaria.

Merkel was the keynote speaker of the event, which was attended by over 300 guests, most notably German businessmen and representatives of the Bulgarian institutions; Bulgarian PM Borisov was also among the official guests.

The 2015 Action Plan of the DBIHK puts forth strategies to boost German investment in Bulgaria and the Bulgarian trade with Germany, which is Bulgaria's largest trading partner.

The proposed measures include the deepening of the DBIHK initiative "101 Ideas for European Bulgaria" containing suggestions for legislation amendments, and improving the education and training levels of Bulgarian specialists through the introduction of modules based on the German dual education system, which combines apprenticeships in a company with vocational courtse.

The DBIHK suggestions also include ideas on bettering the competitiveness of the Bulgarian companies, and their options to cooperate with foreign entities as a means of increasing foreign direct investment.

The German-Bulgarian business organization has put forth the appointment of an ombudsman for foreign investors in Bulgaria that should have easy access to all state institutions.

Merkel has confirmed the interest of German business in increasing its investment in Bulgaria. She underscored the fact that about 5 000 German companies are doing business in Bulgaria, and that many of their top positions are occupied by Bulgarian managers.

Topic: FDI in Bulgaria

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