Yavor Nikolov, GM, Sensata Plovdiv: “Main challenge is to find a long-term balance of physical, mental, and economic health”

On October 20th, 2020, аn online discussion was held, as a part of Capital’s annual forum “Industry 4.0” titled “Bulgaria as a Wanted Investment Destination: A View of Commercial and Industrial Cameras”

Yavor Nikolov, General Manager of Sensata Plovdiv, represented both his company and AmCham Bulgaria. He shared that the main challenge is to find a long-term balance between physical, mental, and economic health.

“In fact, for us, for physical health, we were very well prepared, because we already had a lot of experience from our colleagues from China, Malaysia, Mexico, who faced the health crisis.”

The COVID19 also changes the way we communicate. Yavor commented that in order to balance mental health, “we have definitely reformed our way of communicating with people a lot – much more often, much more openly, with more opportunities to ask questions.”

The COVID19 reality

The COVID19 reality is something that cannot be missed and affects all industries, albeit to varying degrees. The negative effect is felt in one way or another.

An internal survey of members of the German-Bulgarian Chamber of Industry and Commerce in June shows that only 5% of all 600 members expect not to be affected by the crisis, said Ekaterina Karpuzova, a member of the board of AHK and Executive Director of Bayer Bulgaria.

The reduced consumption has a natural effect on all industries, commented Vasil Takev, Head of Business at ABB Bulgaria, and a representative of the Bulgarian-Scandinavian Chamber of Commerce.

According to Takev, there is a decrease in the readiness of companies to make investments, the decision-making period becomes much longer, decisions become much more difficult, but “this is absolutely normal,” he added.

Industry 4.0 Conference

Industry 4.0, orgaznied by Capital Weekly (owned by Economedia – AmCham Bulgaria member) welcomed representatives of the largest chambers of commerce in Bulgaria such as AmCham Bulgaria, Bulgarian-Turkish Chamber of Commerce and Industry, Bulgarian-Scandinavian Chamber of Commerce, German-Bulgarian Chamber of Commerce and Industry, shared practices, discussed the role of foreign investment and how Bulgaria could become more desired investment destination.

The webinar aimed to address key questions that shape and could improve the current Bulgarian economy.

  • What is the business climate in Bulgaria?
  • How do we stand on the investment map?
  • What can be improved to make Bulgaria an even more attractive investment destination?

Read more from the Capital.bg overview of the panel

Find out more by watching the full webinar