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Interview SATURDAY, 2 February 2013

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Boom of Chinese Investments in Bulgaria Coming Soon

Plamen Panchev,

Chairman of the Board
Sienit Holding

- Mr. Panchev, what was the result of your latest visit to China together with economy minister Delyan Dobrev?
- I would like to emphasize that this was the first time that foreign investors viewed Bulgaria from a different perspective – a Bulgarian minister leading a business delegation personally invited the Chinese businessmen to invest in the country. This move was highly successful – over 350 Chinese companies were represented at the forum. It is very important for us to strengthen the ties with the Chinese entrepreneurs through the Bulgarian-Chinese Association for Business Development. The result of our visit to China was that we presented Bulgaria as a good destination for investments.
- As you mentioned investments, what are Bulgaria’s real advantages compared to the other countries? Why foreign investors will prefer investing their resources in Bulgaria but not in Serbia, for example?
- Only one advantage is enough to attract a foreign investor to prefer one country to the other. But Bulgaria has a lot of advantages, first of all its business friendly legislation and low taxes. I will tell you concrete parameters which make Bulgaria an attractive country for foreign investments: political and economic stability, fiscal stability, low budget deficit, 10% corporate tax, easy access to the EU market, Russia and Turkey and the Middle East.

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