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Minister Vezieva presented three certificates for investment promotion worth nearly BGN 37 million, which will create 125 new jobs

November 26, 2021

 

The Minister of Economy Daniela Vezieva presented three Class A certificates under the Investment Promotion Act (IPA) at a total value of BGN 36,870,000, which provide for the creation of 125 new jobs. Certificates were awarded to the projects of Nestle Bulgaria AD for investment in digitalization of the production process in the factory in Sofia, Dura-Tiles BG for expansion of the existing activity of the company for production of ceramic products in Novi Pazar and Vemus Invest EOOD for the construction of a new base in Burgas for the production of cables.

Vezieva pointed out that with these three new projects in the last 6 months alone, investments worth nearly half a billion levs have been certified under the IPA. According to her, a total of 14 projects have been certified for this period, which are expected to create over 1,500 new jobs. The projects are mostly outside the capital, including a few in municipalities with unemployment higher than the national average. "In the last few months, we have done a lot to talk about Bulgaria as a country where it is good to invest, which has begun to change the pattern of behavior and brighten the business environment," she added.

The Minister of Economy also commented that the measure related to the implementation of the investment intentions in the Recovery Plan, for development of industrial parks and improvement of their infrastructure, with a budget of BGN 416.5 million, will support the construction of the leading, technical and social infrastructure. "The idea of all the measures that are in the Recovery Plan is to reduce the imbalance in the regional development of the country and to be implemented on a competitive and market basis," she said. Vezieva stressed that the aim of the ministry is to make a transition to a circular economy through this measure, which will depend on the vision of the settlements themselves, which register its industrial parks, as well as the resources they have to make the industrial park attractive enough for investment purposes.

 

The Executive Director of InvestBulgaria Agency Stamen Yanev added that Bulgaria can "shorten the supply chain" and that in the last few months in our country it has been working hard on several major projects related to the automotive industry. "Currently, 28 new investment intentions worth a total of BGN 800 million are in the process of certification," Yanev said.

 

The project of Nestle Bulgaria AD is for investment in digitalization of the production process in the factory in Sofia and expansion of the portfolio of manufactured products with the second world brand Smarties. The amount of the investment amounts to BGN 20,420,000 and will be financed with own funds, providing for the creation of 30 new jobs.

One of the global leaders in the production of ceramic products "DURA-TILES BG" AD expands the existing activities of the company for the production of ceramic products in the town of Novi Pazar. The project is worth a total of BGN 8,450,000, and 70 new jobs will be created.

The investment of VEMUS INVEST EOOD and M KABEL OOD is for the expansion of their production base in Burgas, through which they will achieve both an increase in the production capacity of their already established range of products and the expansion of the company's portfolio. The amount of the investment amounts to BGN 8,000,000.00 and envisages the creation of 25 new jobs.