French Companies 'Could Move China-Based Plants to Bulgaria' - EconMin
Monday, 20 April 2015
French companies are considering the option to move their China-based production facilities to Bulgaria, Economy Minister Bozhidar Lukarski has said.
Lukarski told Darik Radio that this was "the impression" conveyed by a business forum held in Paris at the same time when the Thracian exhibition, displaying Bulgarian treasures including a life-size head of ruler Seuthes III, was opened at the Louvre.
Lukarski explained that it was the dollar jumping high that made production costs in Bulgaria more attractive than those in China.
He added that "several" (though unnamed) French investors are expected in Bulgaria "next month" to consider either joint projects with Bulgarian companies or deals involving the companies' possible purchase "if there is interest on the Bulgarian side."
In his words, "a very serious project" involving funding from a Scandinavian country should be expected soon.
Lukarski, who is a member of a junior coalition partner, the right-wing Reformist Bloc (RB), added that the government was seeking options to reduce the administrative burden on businesses and also to work toward lower electricity prices for industrial consumers, who pay the biggest energy bills compared those in all other EU countries.