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The majority of the certified by IBA investment projects is in the automotive sector

February 16, 2016

The Executive Director of InvestBulgaria Agency (IBA) Stamen Yanev and  the Minister of Economy Bojidar Lukarski participated in the economic forum "North Rhine Westphalia - Bulgaria", which took place from 11 to 12 February in the the Federal state of North Rhine-Westphalia.

Stamen Yanev presented the investment incentives to potential investors and noted that foreign companies could also benefit from the opportunities of the Operational Programme "Innovation and Competitiveness". “The majority of certified by InvestBulgaria Agency investment projects are in the automotive sector”, he said.

Stamen Yanev also met with representatives of "Witte" in the town of Velbert. At the meeting was discussed future cooperation between the two sides and the expansion of the company in Bulgaria.

"Witte" successfully develop business in Bulgaria. The company was certified as a class A investor in 2012 and currently employs 614 people in Bulgaria. The company has invested nearly 10 mln. euro in expanding its production, which is 4 mln. euro more than initially stated to IBA investments under the Investment Promotion Act.