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InvestBulgaria Agency (IBA) and Bilateral Chamber of Commerce and Industry present Bulgaria as the new nearshoring destination

July 13, 2020

In the last two months, IBA and fifteen Bilateral Chambers of Commerce and Industry in our country have sought to position Bulgaria as an excellent destination for relocation of production in the process of shortening supply chains/ nearshoring/. A series of events related to the branding of Bulgaria as a living environment for the transfer of production facilities are forthcoming.

The joint initiative includes video conferences with business representatives, investors who are members of the Bilateral Chambers of Commerce and Industry, participation of Bulgarian ambassadors and trade attachés. The initiative also envisions the distribution of a joint brochure presenting Bulgaria's key strengths as a destination that could shorten supply chains.

The first video conference will be held on July 30th with the participation of Stamen Yanev, Executive Director of IBA and the management of the Bilateral Chambers of Commerce and Industry with their members. The main goals of the conference are to analyze the impact of the coronary virus pandemic in the country and to outline the opportunities for promoting Bulgaria as a possible "nearshoring" destination. Our advantages are the geostrategic location, the good financial parameters in the EU, the low taxes, the educated and skilled labor, which our country offers to the multinational companies in order to move their production to Bulgaria.