1. Bulgarian economy – overview and expectations forward
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Transcript 1. Bulgarian economy – overview and expectations forward
Business opportunities in Bulgaria
Alexandra Bacheva
CIBANK JSC, part of KBC group
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Part of KBC Group
Why Bulgaria?
Investment friendly
EU funds
Belgian society
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Part of KBC Group
Investment friendly
Strategic location and easy access to markets of
EU, Russia/CIS & Middle East
Stable environment (EU member, Currency board,
EU harmonized legislation)
Low cost of doing business (affordable rents, utility
costs, wages)
Tax benefits
Government incentives for investors and EU
programs
Educated and skilled workforce
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Part of KBC Group
1 EUR investment = 4 EUR!?
Over 11 BEUR EU subsidies for projects in Bulgaria 2014-2020
EU programs for various sectors and companies in different business stages
•Applicable also to Belgian companies registered in Bulgaria
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Investment in biscuit
production line
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Total cost: 930 000 EUR
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Cost: 1 000 000 EUR
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EU subsidy: 630 000 EUR
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EU subsidy:750 000EUR
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Purchase of agricultural
machines
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“Struma” Highway
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construction contract- 34
000 000 EUR
Our experience for a successful EU project
Find your way in a sea of information.
Discuss with your Bank before starting the
preparation for your EU project
Benefit from financial lines for funding/securing your
project- alternative and/or combination
Find a reliable consulting company
Take time for the preparation of the project
Implementation and reporting of the project are
important
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Part of KBC Group
Well developed Belgian-Bulgarian relations
Bulgaria is among the top 10 importers in Belgium
990.9MEUR (2005-2013) - Belgian direct investments
140 Belgian businesses are active in Bulgaria
Belgian Trade Commission in Bulgaria – representative of AWEX, Brussels Invest &
Export and Flanders Investment & Trade (FIT) – the guide for all Belgian entrepreneurs
Belgian-Bulgarian Luxemburg Business Club in Bulgaria – the Business exchange
meeting point for the Belgian community in Bulgaria
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Part of KBC Group
Turn your challenges into opportunities
Challenges in Belgium?
Opportunities in Bulgaria!
Limited possibilities to expand
production?
New markets?
Investment support / EU
programs, available
(industrial) plots and buildings
High operational cost?
Geographical expansion
Improving margins through:
(partial) outsourcing ,Jointventures & subcontracting
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Part of KBC Group
Success stories
Solvay
In 1997 Solvay, Belgium bought 60% of the soda
factory in Devnya
Solvay
Motivation for launching business in Bulgaria proximity of raw materials and the convenient
transport corridors (Varna West Port)
1997-2011 - €306m invested in innovation and
modernization of the production plants
Solvay Sodi Bulgaria is Europe’s biggest soda
ash plant with a capacity of 1.5 million tons per
year
A number of corporate social responsibility
awards in Bulgaria
Cooperation with universities for onsite visits and
internship programs for students
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Success stories
Roger Vanden Berghe
Reallocation of labor-intensive
production was identified as a solution for
retaining the market position of the Belgian
company
The long-term partnership with a BG
carpet producer helped them to recognize
Bulgaria as the suitable location
The local subsidiary was set up in 2011 as
an asset-based transaction
The business locally is growing and the
production is expanding.
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Part of KBC Group
Success stories
Cordeel Group
The Belgian owned group started up its
business in Bulgaria 15 years ago and
has specialized in civil and industrial
construction.
Preferred partner for investors in
Bulgaria with over 35 construction
projects of local and foreign investors all
over the country
Winner of “Building of the year” award in
2013 and 2014
The formula for success is the wellknown internationally brand, expertise
of the group combined with strong local
management.
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Part of KBC Group
About us
CIBANK and the insurer DZI (ДЗИ) are 100 % owned KBC subsidiaries
operating on the Bulgarian market.
KBC is present in Bulgaria since 2007
Bulgaria is one of the KBC group core markets
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Part of KBC Group
How can we help?
A team dedicated to international clients:
We know the international service levels and combine them with a thorough knowledge of
the local market
We care – it’s more than a job.
Easy access:
Smooth and well organized establishment of banking and insurance solutions (first need and
through the existence of the company)
We take care of personal banking and insurance needs
We know who you are: direct communication with our Belgian colleagues
Direct contacts with (Belgian) top management of the bank.
We know the market:
we have a nation wide presence and can help you to find and assess potential partners
We have a specialized team to help you to assess how to benefit from
national and EU projects
We take care of contacts with your peers
We are part of the Belgian community where our Belgian executives play an active role.
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Part of KBC Group
Your success story in Bulgaria is waiting for you!
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Part of KBC Group
Alexandra Bacheva
Head International Network Desk
Corporate Banking
Tel: +359 2 9029 116
GSM: +359 878 787 513
[email protected]
www.cibank.bg
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Part of KBC Group