Plovdiv is one of the most dynamic and flourishing regions in Bulgaria. The latest data proves it: the output of the local economy is EUR 7.6 billion, out of which there are EUR 2.5 billion added value, and the average productivity per employee is EUR 11,650. Manufacturing (41.5%), trade (16.1%) and business services (15.8%) are top sectors that along with public services and related markets (14.3%) shape the economy of the structure of Plovdiv. Also, the work force has a total number of nearly 215,000 people who are well trained and education and work in the above industries.
These are the convincing numbers that attract any foreign investor to come to Plovdiv. This was the reason for a joint business trip of representatives of the American Chamber of Commerce in Bulgaria and the U.S. Commercial Service at the Embassy of the United States to Bulgaria that was organized on March 27th, 2019. The AmCham team included Petar T. Ivanov, Executive Director and Daniel Kiryakov, Communications Manager, and the USCS was represented by Miguel A. Hernandez, Commercial Attaché, and the Commercial Officers Ms. Emily Taneva and Petar Delin.
The joint team visited Trakia Economic Zone (TEZ), TED Bed, and Milara International, as well as had an institutional visit with the Mr. Stefan Stoyanov, Deputy Mayor of Plovdiv who is responsible for the Business Development, International Cooperation, EU Policies, and Education.
At the Trakia Economic Zone the group was welcomed by Eng. Plamen Panchev – Chairman of the Board of Directors of Sienit Holding (AmCham BG Member), founder of TEZ, and by Mr. Dimitar I. Ivanov, Mayor of Maritsa Municipality, Vyara Pancheva, Project Manager at TEZ, and Katya Staykova, Director of Public Relations. They presented the success story of the TEZ, pointing out the fruitful cooperation between the local authorities and the business aiming at the same goal: attracting more foreign investor, improved the local business climate and taking care of the local people by employment, training, integration of minorities. Their synergy attracted major producers such as Sensata Technologies Bulgaria, SOCOTAB, Kaufland, and many others.
Trakia Economic Zone is the largest and most sustainable industrial zone not only in Bulgaria but also in Southeastern Europe. The Zone united 6 industrial zones – “Maritsa”, “Rakovski”, “Kuklen”, Industrial Park “Plovdiv”, High-tech Park “Innovations” and Agrocenter “Kaloyanovo”, in the region of Plovdiv. The area of TEZ is 10,700,000 sq. m (1/3 of which is already occupied), the investments – for 23 years since the establishment of the first zone in 1996, so far over EUR 2 billion have been invested by more than 180 companies; over 30,000 jobs have been opened. Half of the investors in TEZ are foreign companies from Europe, USA, Israel, Canada, England, Japan, South Korea, China, and Turkey. This Public Private Partnership is one of its kind in Bulgaria and provides a good example of how business and municipalities can be beneficial together. TEZ is the successful place to invest, proves the fact that precisely in the area in 2018 the French company Latecoere opened the first plant in Bulgaria for aircraft parts. This is evident and by the 21 new projects that are being implemented in 2018-2019 – by 11 Bulgarian, 6 German, 1 Italian, Swedish and British companies.
At TED BED the delegation was welcomed by Mr. Petar Payakov, COO, Mr. Georgi Primov, Production Director, and Ms. Maria Prandzheva, Sales Manager E-Commerce Business. They presented the history, development and transformation of TED from a family run-business into a modern and innovative mattress producer. TED BED constantly invents and patents new mattress construction technologies and is focused on improving the recreation and well-being of its clients. Some of the models of the company are quality certified by German labs with the exceptional results of 98 from 100 possible points. TED BED sells its production on five continents incl. North America.
At Milara International the commercial mission was welcomed by the owners and founders of the company Mr. Krassimir Petkov and Mr. Jordan Naydenov. Their partnership is dated back in the early 1990s which set ground for starting a small-scale business with semiconductors and transforming it into one of the most advanced b2b manufacturers of robots, enterprise solutions, and mechanization. Their operations are stretching from the West Coast of the United States, passing through Plovdiv and Tel Aviv, and go further to Beijing, Taiwan, and South Korea.
Miguel A. Hernandez presented the mission and main goals of the U.S. Commercial Service in Bulgaria, which are to facilitate business contacts and economic ties between the USA and Bulgaria. One such joint initiative is the upcoming Explore USA Conference, which will be held on April 9th, 2019, at InterContinental Sofia. Both teams – AmCham and the Commercial Service – are preparing a rich program of business cases, guidance, and tips for companies that plan to consider operations in America.
In his turn, Petar T. Ivanov presented the AmCham Bulgaria, its membership, and its vast network – both internal and external one. He showcased several events that the Chamber organized in the past, as well as invited all four counterparties to the InnoStart Forum, June 20th, 2019. It will be the AmCham’s attempt to push forward the further development of the innovation and start-up eco-system in Bulgaria by utilizing the Israeli and American business experience, and by partnering with the funding institutions including European Union, and venture funds.
The meeting with the Deputy Mayor of Plovdiv Stefan Stoyanov focused on the overall business perspectives and recent developments of the region, as well as on the possible cooperation with regard the above-mentioned innovation and start-up event in June. Mr. Stoyanov expressed the will of the local authorities to develop further the business relations with foreign investors, including businesses from the United States.