Bulgaria's EU Membership Gives Serious Growth Opportunities to Local Business: Stamen Yanev

Bulgaria's EU Membership Gives Serious Growth Opportunities to Local Business: Stamen Yanev

Bulgaria's economy benefited strongly from the country's accession to the European Union and its gross domestic product increased nearly threefold in the past ten years, Executive Director of InvestBulgaria Agency Stamen Yanev told Radio Bulgaria. We must also take into consideration the fact that when Bulgaria joined the EU the volume of foreign direct investments to this country was substantial and the accession of Bulgaria to that union actually legitimatized the country as a developing economy, Stamen Yanev said and added:
“That time was followed by a period of global economic crisis, which affected Bulgaria as well. After 2010, however, the country's economy has been growing steadily. Initially, the country was attracting mainly speculative investments. Now we are witnessing a sustainable development of the investments field. The number of strategic investors in Bulgaria has been constantly increasing. Those companies want to stay permanently in Bulgaria, develop the human capital and influence the surrounding economic environment, unlike before, when most investments were made in the real estate sector. Besides, the EU membership gives more opportunities to Bulgaria, because it can sell its produce and services on the world's wealthiest market which consists of some 500 million solvent customers.”
According to Stamen Yanev, in 2015 Bulgaria has attracted the biggest volume of foreign investments in the post-crisis period. The Netherlands tops the ranking of EU investors with nearly 6 billion euros invested in Bulgaria between 2010 and 2016. Italy and Greece invested nearly 2 billion euros each, followed by Germany and Austria.


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