AmCham’s U.S. – Bulgaria Economic Partnership Report Presentation – Media Monitoring

On December 11, 2023, was the official presentation of the report “U.S. – Bulgaria Economic Partnership: Investments, Jobs, and Trade (1990 – 2022)”. The report was introduced by Ivan Mihaylov, CEO of the American Chamber of Commerce in Bulgaria, and economists from the Institute for Market Economics (IME) team – Svetla Kostadinova, Executive Director, and Lachezar Bogdanov, Senior Economist. The press conference occurred at the National Press Club of the Bulgarian Telegraph Agency (BTA) in the presence of journalists and of Chamber members.

Here is some short media monitoring overview:

BTA: The Direct Foreign Investment in Bulgaria Originating in the U.S. Has Grown by 23 Percent in Five Years

“Ivan Mihaylov recommended Bulgarian society to turn its back on petty themes in the next five years and to focus the debate on the strategic development and direction of the country.”

NOVA: AmCham Bulgaria Presented a Report on the Economic Relations Between our Country and the USA

“US investments in Bulgaria are highly underestimated in official statistics. Foreign direct investment (FDI) from the US exceeds BGN 5.5 billion by the end of 2021, while that from Canada is more than BGN 1 billion. The data are from the second report “The Economic Partnership between Bulgaria and the United States: investment, jobs and trade (1990 – 2022)” presented on Monday by the American Chamber of Commerce in Bulgaria (AmCham) and prepared by the Institute for Market Economics (IME).”

NOVA NEWS: The Number of American investments in Bulgaria is Growing at a Rapid Pace

“The current data show that the amount of investments from the US to 2022 is 5.5 billion BGN, which is at least 3.5 times more than the official statistics for the balance of payments. Their estimate includes fixed tangible assets, net sales revenues and number of employees,” said Ivan Mihaylov, the Chamber’s CEO.”

Mediapool: In Five years, Direct Investments From the U.S. in Bulgaria Have Increased by Over BGN 1 Billion

“Thus, the American investments actually enter the BNB data for the Netherlands, which permanently remains at the top as the country from where the most investments have entered the country – BGN 14.559 billion in 2021, followed by Austria with BGN 9.677 billion and Germany – with BGN 7.641 billion. In fact, in 2021 as well. The US retains the sixth place among the countries-investors in the country according to the ultimate owner of the capital, said the CEO of AmCham Ivan Mihaylov.”

Dnevnik: The Real Investments From the U.S. in Bulgaria Exceed the Official Data, Report Shows

“Since the institute’s previous study in 2016, US companies doing business in Bulgaria increased by 31%, their revenues grew by 52% and their employees by 43%. The growth of foreign direct investment from this destination in the Bulgarian economy is over 23%, or by more than BGN 1 billion. Nearly 41 thousand people are employed in American companies in the country, and their average salaries are more than twice the national average.”

Club Z: The American Investments in our Country Exceed BGN 5.5 Billion

“Ivan Mihaylov, CEO of AmCham Bulgaria, drew particular attention to Bulgaria’s accession to the NASA Artemis Agreements last November. He described this event as “a new moment in Bulgaria’s economic development and a prelude to something completely new”.”

Investor: Over BGN 5.5 Billion are the Real Investments From the U.S. in Bulgaria for 2021

“Ivan Mihaylov, CEO, AmCham Bulgaria, reminded that many of the American companies positioned in Bulgaria celebrate 20- and 30-year anniversaries, which shows that our country maintains a sustainable tax policy. He hoped that even after the introduction of the global tax, Bulgaria would maintain its competitive advantage with new technologies and smart manufacturing.” Over BGN 5.5 Billion are the American Investments in Bulgaria, They Have Created 41 Thousand Jobs

“The share of the US in total foreign direct investment in Bulgaria is 5.5%, which is more than three times higher than the official statistics. And in 2022, the USA will retain the 6th place among the countries-investors in the country according to the ultimate owner of the capital”, summarized Ivan Mihaylov.”