SOFIA, BULGARIA | WEBINAR

Sofia, the main city of Bulgaria. Currently there are 7.2 million inhabitants in Bulgaria, of which 1.4 million in the capital Sofia. Bulgaria is a fertile country with more than 55% of its surface which is used for agriculture, making it one of the most important sectors for the nationwide economy.

In the presentation Ms.Tsvetan Simeonov – President of Chamber of Commerce in Bulgaria, Mrs. H.E. Bea Ten Tusscher – Ambassador of The Netherlands in Sofia and Mrs. Desislava Trifonova – Executive Director, Invest Bulgaria Agency gave a detailed description of promising sectors in combination with doing business in Sofia, Bulgaria.

As Mrs. H.E. Bea Ten Tusscher mentioned the transition mechanism, Green Deal and more projects that Bulgaria wants to put into practice with involvement of Dutch entrepreneurs. To ensure a faster economic transformation and the green transition of Bulgaria.

The coming years there will be a focus on the Green Deal which involves circular economy and introduction of green technologies such as hydrogen alternative energy: solar and wind. Agriculture, dairy and food industry are very promising in Bulgaria, there is knowledge about development and growing vegetables. Also, in the water sector there are some investment options and challenges in the country! ICT is promising, which is also involved in the agriculture sector.  There is already a Dutch community in Bulgaria. Companies such as Shell, Heineken, ING, Hero, Jan de Rijk Logistics, Jacobs Douwe Egberts, Philips and Unilever.

The Bulgarian culture is indirect in comparison with the Dutch people. They are more emotional based people but very warm. While doing business it is important to be clear and share your goals and desired situations, which is appreciated by the Bulgarians very much. For the Dutch it is important to take the time and be patience.

Invest Bulgaria is a governmental agency, to assist project set-up and to ensure successful project development resulting in new jobs, exports and know-how transfer for the Bulgarian economy. Bulgaria is one of the countries which has the lowest costs for utilities. In 2019 45% of the foreign direct investments was for the industrial sector and 24% for Wholesale and retail trade, transport, accommodations and food service activities.

Want to know more about doing business in Sofia? Then take a look at the webinar or contact us.

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