Confindustria Bulgaria – the association uniting the Italian enterprises in Bulgaria – foresees an increase of around 20-30% in the number of enterprises with Italian participation in the next ten years so that in 2020 their number would be around 1.000, the total number of active enterprises at the moment being 800.

Confindustria Bulgaria is one of the main initiators for creating Confindustria Balcani – the Federation of Italian business associations operating in the Balkans, whose first General Meeting will be held on 13 October in the Sheraton Hotel. The event will be attended by members of Italian associations and enterprises operating in Albania, Bosnia and Herzegovina, Croatia, Macedonia, Serbia and Romania.

The choice to hold this event in the capital of Bulgaria is indicative of the central position of the country in the region, the dynamism of the Italian enterprises developing their business activity here and the country’s economic potential, pointed out Confindustria Balcani.

 

To launch the project in the best possible way, the Chairman of Confindustria Bulgaria, Mr. Massimo Bartocci, drew attention to the Italian entrepreneurial presence in Bulgaria and the Balkans, as well as the prospects for development in the region. For Italy, the Balkan region in its entirety is significant in creating a high rate of trade exchange, which from an export perspective may be compared to that of big counties such as India, China, Brazil.

Some information: The trade exchange between Italy and the Balkan region as a whole reached EUR 17 billion in 2009. The exchange between Italy and Bulgaria last year amounted to EUR 2,3 billion. In the country, Confindustria Bulgaria unites more than 200 enterprises accounting for EUR 2 billion direct investments, a turnover worth EUR 1,3 billion and approximately 20 000 jobs. On a regional level, the founding associations of Confindustria Balcani include 1000 Italian companies, which have chosen to develop their business in these countries.

According to them, the flow of investments will depend on three factors:

1) Real estate market activity

2) Ability of the Italian companies to join the energy market in Bulgaria

3) Global economic development and a new flow of investments in the manufacturing activities with an emphasis on MULTILOCALIZATION

„To think about the Balkans as an organic and integrated reality is one of the keys to the future development of the countries in the region”, revealed the Chairman Mr. Bartocci, „in their entirety, the many countries in the region represent a strategic market in Europe as well as globally. Italian entrepreneurship wishes to play a central role in this development process”.

In the words of Bartocci, thanks to its dynamism, the EU membership, the stability of its political and economic system, Bulgaria is one of the most significant countries for the Italian entrepreneurship.

„Since the 1990s onwards, the achievements of Bulgaria have been numerous”, pointed out Bartocci, „yet there is a long way to go”. According to Confindustria Bulgaria, the upsurge of the country depends on three important factors: education, entrepreneurship and perseverance”.

At the presentation Bartocci was accompanied by the Ambassador of Italy, His Excellency Stafano Benazzo, and the representatives of the two main partners of the initiative: Levon Hampartzoumian, Chief Executive Officer of UniCredit Bulbank and Boris Chuhran, Chairman of Generali.

„Attracting foreign investments has always been of vital importance for Bulgaria. UniCredit Bulbank, in its role of a leading bank in the country, is committed to be a partner of Confindustria Balcani in the willingness of this organization to increase Italian investments in the country whereas in this way supporting the country’s economy and hence all of its citizens”, stated Levon Hampartzoumian.

The topics included in the presentation will be explored in detail at the General Meeting of Confindustria Balcani on 13 October, a time of growth for the Italian, Bulgarian, and Balkan entrepreneurship.