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Bulgaria Lures China to Invest in Joint Industrial Zone near Sofia

Date: 14.06.2010

Bulgaria has formally invited Chinese companies to participate in the creation of a joint industrial zone at Bozhurishte near Sofia.

The project for the Bozhurishte Industrial Zone was formally presented Sunday by Bulgarian Economy Minister, Traicho Traikov, who is on a visit to China for the Bulgarian Day at the Shanghai Expo, June 14.

“Bulgaria has a great potential to attract Chinese investments in the fields of telecommunications, IT, green energy, and electric cars equipment,“ Traikov stated.

He met with Yan Cheng, Deputy Mayor of Shenzhen, a city of sub-provincial administrative status, which is the site of China's first ever free economic zone, in the populous southern Guangdong Province.

The major topic of their talks were the opportunities for cooperation in high tech sectors.

“Attracting investments and encouraging research, development and innovations are major priorities in the economic policies of the Bulgarian government,“ stated Traikov attributing the staggering economic growth of the Chinese economy in spite of the global economic crisis to the increasing share of innovations.

“Bulgaria must use its chance to increase its competitiveness by attracting Chinese investments and industrial know-how,“ Traikov stated as cited by the Bulgarian Economy Ministry.

In his words, Bulgaria could also attract Chinese investors in textile industry, infrastructure construction, food industry, agriculture, and tourism.

Traikov has emphasized the project for a new industrial zone near Sofia at the town of Bozhurishte.

The industrial zone was approved by the Bulgarian government over the past week but it was not advertised as a Bulgarian-Chinese project until Traikov's visit in China. It is unclear yet if any Chinese companies have expressed interest in the project.

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