Experiences of Austrian Investors in Bulgaria Michael Angerer Commercial Counsellor at the Austrian Embassy

Austrian Investment in Bulgaria Total investment by end of 2011: EUR 6,1 bio. Austrian share of all FDI in Bulgaria: 16,5% Austrian companies are present in all sectors of Bulgarian economy Austrian companies employ ca Bulgarians Austrian companies continue investing in Bulgaria – 2011: EUR 526,5 mio. Focus on modernisation, improvement of productivity and energy efficiency

Expectations of Austrian Investors Rule of law Accountability of regulations Facilitation of administrative procedures Improvement of infrastructure

Experiences of Austrian Investors in Bulgaria Advantages of Bulgaria Growth potential in many sectors good location for production in vicinity to Austria Cost structure – incl. low taxes Support by government und local administration Advantages should be much better promoted!

Challenges for Austrian Investors in Bulgaria Bureaucracy on central and regional level Court procedures recently: slow refund of taxes; slow payment by public clients missing skilled labour Industrial infrastructure (only few modern industrial parks) high costs of energy for production Low purchasing power of Bulgarian citizen

Bulgaria - Upcoming Events organized by the Austrian Federal Economic Chamber Austria Showcase „Tourism Infrastructure“ May 14-16, Sofia and mountain areas Austria Showcase „Energy Efficiency and Renewable Energy“ October 24, 2012 – Sofia General Trade Mission “Commercial agency in Bulgaria” November 7, Sofia Austria Showcase „Information Technology and Communication“, March Sofia Austria Showcase „Transport Infrastructure“, May Sofia

Bulgaria For information about the activities of the Austrian Federal Economic Chamber in Bulgaria visit our local homepage: Thank you for your attention!