Vast media coverage of the AmCham Business Breakfast with the Government

The AmCham Business Breakfast with the Prime Minister Borrisov and members of the Government gained vast media interest and coverage.

Here are some snap-shots of how media covered the main topic of the event – investments fostering and education development.

In Boyko Borissov’s Facebook page there were two posts of his participation at the event. The first one is telling that the Prime Minister attended at the business breakfast with AmCham members. “It only can bring joy that USA are ranked sixth as foreign investor in Bulgaria thanks to the good business climate in Bulgaria. The financial stability is that thing that is being credited after a while. Just couple of months our external debt was decreased to 24% of the GDP unlike the United States. I am happy when new plants and production sites are being opened in Bulgaria.

The second one is a video in which the Prime Minister talks about the interior processes and recent turmoil in the Government and the arguments with the President.

 

Third news in the Central News of The Bulgarian National Television was the coverage of the event. Headline there was “Increase of the U.S. Investments in Bulgaria”. “Bulgaria offers some of the best business conditions in Europe,” stated the Prime Minister. The Television also quotes the highlights of the report.

NovaTV aired some fragments from the event and partially missed its economic and business content, but published the full news on their website.

 

BTA headline is “Bulgaria and USA deepen their partnership in business innovations”. The news wire quote Ambassador Eric Rubin that he is willing to continue the joint work for achieving even more tangible results with regard the business innovations. Among the significant American investment project the diplomat pointed out those in the Energy sector, Agriculture, ITC, and said that they support the economy and the employed who receive decent salaries. The U.S. companies invest not only in their business, but in healthcare, education, which are money that goes directly to the Bulgarian families.

 

BloombergTV Bulgaria invited the AmCham Executive Director Petar T. Ivanov to talk about the U.S. Investments, the business environment and innovations, and the Transatlantic Relations. “USA are the place where the most technologies and innovations come from. The rules of the EU are made by the Union, however, the innovations come accross the Atlantic ocean”, he pointed out.

Reffering to the AmCham’s event he said that the Government of Bulgaria has received what is valued by the business today in order to have investments in each country. There is a new generation coming, new economy in which the experience has to be exchanged, what is learnt has to be shared. In general, the dialog has to continue because the arguments change quite rapidly.

 

Focus Agency quoted the opening remarks of the Prime Minister’s “The financial stability is gets credit after a long term“. He pointed out that the Bulgarian national debt is shrinking to 24% of the GDP, thanks to the Government’s decision to pay BGN 2,4 bn instead of spending them on populist ideas. “The U.S. investments are twice more than the current data. This report moved up the USA to the 6th place among all FDIs in Bulgaria. That’s news we enjoy. Couple of months ago together with the U.S. Ambassador we inaugurated a new factory in Razrag.” – agency quoted the Prime Minister Borissov.

 

Trud Daily points out the Borissov’s excitement when inaugurating new facilities in the country. “!5-20 years ago all the investments were in retail, in banking, in services, thus allowing the capitals to flow-out of the country. I am not enjoying such investments. I fancy opening of new plants and production sites because their sales and products are good for Bulgaria. Also, we can not find workforce for the new production sites in the country, that is why together with the Ministry of Education we will work for better education.” – the media quoted Borissov.

 

Mediapool emphasized on that Borissov wants more investments from the USA, and the business – better business climate. Prime Minster’s desire comes during the government backlash towards two of the major U.S. investors in the country – AES and ContourGlobal which own both thermal power stations at the Maritsa East Basin, media says. It also quotes the highlights of the U.S Investment Study, presented during the business breakfast.

 

Radosvet Radev, Executive Chairman of the Bulgarian Industrial Association (BIA, BSK), commented the event and the Investment report’s findings on the website of his association.  “Bulgaria is in such position that it can win from the U.S.-China Rivalry”, said Mr. Radev. “Our country presents so many opportunities for the Chinese to invest in our nuclear, and for the U.S. to invest in our coal energy sectors.” With regard the employed 28,600 people in American businesses, Mr. Radev said that it is 1% of the work force, and made an assumption that the equipment in those companies is so good that it does not require much labor.

With regard the stated increase of the U.S. investmetns in Bulgaria while the FDI analysis of the BIA presented recently says that their overall volume hit 10-year bottom, Mr. Radev commented that the AmCham’s report measure the accumulated investments over a certain period (1990 – 2016). “If Bulgaria becomes attractive to invest in a modern economy, than there is nothing to stop the foreign investors to invest here” , he concludes.