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Bulgaria – your investment decision
 

Bulgaria – your investment decision

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Valentina Alexandrova, InvestBulgaria Agency

Valentina Alexandrova, InvestBulgaria Agency

Italian Festival in Bulgaria 2010
Forum economico “Bulgaria-Italia: insieme per uscire dalla crisi”

Sofia, 7 giugno 2010

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Bulgaria – your investment decision Bulgaria – your investment decision Presentation Transcript

  • InvestBulgaria Agency www.investbg.government.bg Bulgaria – your investment decision Italian Forum 07.06.2010 Mrs. Valentina Alexandrova Director of Investment and legal services department
    • EU membership and NATO membership
    • Currency board
    • EU’s most favourable taxes:
      • 10% corporate income tax rate
      • 0% in high-unemployment areas
      • 10% flat tax rate on personal income
    • Europe’s most competitive operational costs
    • Well-educated and highly-skilled labour force
    • 45,000 Bulgarian students in Europe
    • Government financial support for priority investment projects
    • Linking Europe and Asia
    • Excellent climate, natural scenery, food and hospitality
    Why Bulgaria
  • Source: BNB, IBA Record FDI Inflow in 200 6 – 200 8, EUR m * Preliminary Data
  • FDI to GDP, %, 2008 – 2009 Source: BNB, Bank Austria Creditanstalt Bulgaria leads CEE Countries in Terms of FDI to GDP Indicator
  • Source: BNB, IBA FDI Stock by Country,1996 – 2009, %, EURm 3% 1088.1 3% 1170.0 3% 1276.4 3% 1310.2 5% 1921.1 Russia Italy Hungary USA Cyprus 7% 2526.3 8% 3036.7 9% 3419.7 12% 4642.7 16% 5903.8 Germany Un. Kingdom Greece the Netherlands Austria
  • Кои са най-големите държави-инвеститори в България зависи много от начина на отчитане Топ 10 държави за 2005-2009, според местоположението на corporate HQ 1 ПЧИ, € млн. “ Официалния” топ 10, според държавата – пряк източник на инвестициите ПЧИ, € млн. Отчитането на ПЧИ според държавата, от която инвестициите са влезли в България, създава нереалистична картина за най-големите инвеститори Източник: БНБ, БАИ 1) Според данни за първите 200 инвеститора
  • Source: BNB, IBA 22% 19% 18% 17% 7% 6% 5% 6% FDI Stock by Sector, 1996 – 2009, %, EUR m
    • Treaty for avoidance of double taxation between Bulgaria and Italy
    • Italian investments ( 1996 - 2009) 1170. EUR m
    • The biggest Investments in Finance, Energy, Cement Industry, Textile and Trade
    Italian Investments in Bulgaria
  • Major Italian Investors in Bulgaria USD 18 mln. textile Safil USD 27 mln. trade Edoardo Miroglio EUR 200 mln. textile Gruppo Miroglio EUR 200 mln. cement industry Italcementi EUR 270 mln. energy Enel USD 422 mln. finance UniCredit Group Value Sector Investor
  • Miroglio – Textile
      • in Bulgaria since 1998
      • investor of the year 2001, 2007
      • biggest Italian investor in Bulgaria
    • total investments – € 200mln
    • 2600 employees
    • turnover 2007 – € 140mln
    • investments in:
      • spinning, weaving, knitting, twisting, dyeing, printing
      • 11 sites – Yambol, Sliven, Nova Zagora, Svishtov, Elin Pelin, etc
      • 15mln kg yarn, 7mln m wool fabrics, 13mln m knitted fabrics p.a.
      • exports 55% to EU
    • newest € 37,7mln project – revival of Yambol textile industry 2006-7
      • class-A investment certificate 2006
      • government support 2007 – € 1,070mln for infrastructure
      • in Bulgaria since 1998
      • one of the leading foreign investment s in Bulgaria for past 20years
    • total investments – € 200mln
    • 501 employees
    • sales revenue – € 284mln
    • privatization and expansion investment in cement production:
      • Devnya Cement AD (Devnya)
      • – class-A investment certificate 2007 for € 185mln expansion
      • – will be biggest ITALCEMENTI plant in EU
      • Vulkan AD (Dimitrovgrad)
      • produce 2,5mln tons p.a.
      • export 1mln tons to EU and USA p.a.
      • ISO 14001:2004
    Italcementi – Cement Industry
  • Corporate income tax rate , 2010 Source: IBA * 0% for manufacturing companies in areas with high unemployment Comparison between Bulgaria and Europe
    • All classes (A&B)
    • Information services and shortened administrative services
    • Preferential treatment upon acquisition of a right of ownership and limited real rights over real estate – private state or private municipal property
    • Financial support for vocational training of employees for the needs of the investment project
    • A class
    • Individual administrative services
    • Infrastructure support to the borders of the investment
    • project site
    Incentives under the Investment P romotion Act
    • No sector restrictions
    • Council of Minister decision
    • Conditions:
      • investment more than 50 Million Euro
      • or investment in depressed regions
      • or investment in High-Tech
      • or investment in industrial zone construction
    • Incentives
      • VIP treatment
      • Special Incentive Package
    Priority Investment Projects
    • 1 0% corporate income tax;
      • 0% for manufacturing companies in areas with high unemployment
    • 10% personal income tax, flat rate
    • Opportunity for R&D expenditure write-off
    • Depreciation of 2 years for computers and new manufacturing equipment
    • 2-year VAT exemption for imports of equipment for investment projects over € 5 million, creating at least 50 jobs
    • 5% withholding tax on dividends and liquidation quotas (0% for EU tax residents)
    • Up to 1 year minimum salary and reimbursement of social/health care security for employing young people and disadvantaged people through the Employment Agency
    Investment Incentives in Bulgaria
  • Проект на БАИ по ОП “ Развитие на конкурентоспособността на българската икономика ”
    • Име: Популяризиране на Предимствата за инвестиране в България
    • Стойност: 21 408 304 лв.
    • (85% финансиране от ЕФРР, 15% национален бюджет)
    • Продължителност: 36 месеца
    • Идентификационен №: BG161PO003-4.1.01 -0001
    ОП „Развитие на конкурентоспособността на българската икономика” Европейски фонд за регионално развитие (ЕФРР) Европейски съюз
    • Цели на проекта
    • Общи цели:
    • Увеличаване на обема на привлечените преки чуждестранни инвестиции и икономическият ефект от тях
    • Подобряване на бизнес средата и инвестиционният климат в България
    • Специфични цели:
    • Изграждане на положителен имидж на България като инвестиционна дестинация
    • Повишаване на познаваемостта на страната сред чуждите инвеститори чрез:
      • Маркетингова стратегия
      • Аналитични информационни материали
      • Директен инвестиционен маркетинг и ПР
      • Подобряване на качеството на обслужване на инвестиционния процес в България и чужбина
    Проект на БАИ по ОП “ Развитие на конкурентоспособността на българската икономика ”
    • Популяризиране на Предимствата за инвестиране в България
    • Основни Компоненти по реализацията на проекта:
    • Компонент 1: Осигуряване на актуална аналитична информация за инвестиционните процеси и идентифициране на целеви сектори за насърчаване на инвестициите в България на база на конкурентните й предимства
    • Компонент 2: Провеждане на целенасочена маркетингова програма за насърчаване на инвестициите в целевите сектори
    • Компонент 3: Диверсифициране и стандартизиране на пакета от услуги и разработване на информационна система
    Проект на БАИ по ОП “ Развитие на конкурентоспособността на българската икономика ”
    • InvestBulgaria Agency is a Government investment promotion arm, part of the Ministry of Economy, Energy and Tourism.
    • IBA services:
    • Macroeconomic data on Bulgaria
    • Legal advice
    • Data on operational costs
    • Regional information: industrial zones and infrastructure, data on unemployment, skilled labour force and level of education
    • Recommendation of investment project sites
    • Identification of potential suppliers, contract manufacturers and joint-venture partners
    • Personalized administrative servicing
    • Liaison with central and local governments
    • Liaison with branch chambers and NGOs
    InvestBulgaria Agency
  • InvestBulgaria Agency Sofia 1000 , 31 Aksakov Str. Phone : (+359 2) 985 5500 Fax : (+359 2) 980 1320 E-mail: iba@investbg.government.bg Web: www.investbg.government.bg