Siemens investment demonstrated trust in Bulgaria

Sofiaecho.com, 2006-09-20

     The decision of German company Siemens to open a factory in the Bulgarian town of Botevgrad showed confidence in Bulgaria's business climate and workforce quality, Prime Minister Sergei Stanishev said.
     Stanishev attended the opening ceremony of Siemens' transformers factory. Bulgaria would be the third country after Canada and China where the company would produce high technology items.
     "The opening of Siemens' factory is a sign of the confidence in the country, the business climate, the quality of the workforce and in our ability to work by European standards," said Stanishev.
     Economic policies pursued were going to attract other major foreign investors in the future, said Stanishev. For the first six months of 2006 direct foreign investment in the country reached 1.4 billion euro, a Council of Ministers press release. Bulgaria’s economic growth rate reached six per cent.
     Siemens invested four million leva in Botevgrad so far. Nearly 100 experts have been employed to take part in the production.

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