Asian investors keep an eye on Bulgaria
The Austrian WirtschaftsBlatt informed that the Bulgarian low taxes, increasing consumption and strategic location were among the main reasons for the country to be considered as paradise by the investors from Asia.
The director of Hyundai Heavy Industries-Bulgaria, Ik Hee Han, told the media that in his opinion, "the next five years, Bulgaria and Romania would attract a lot of Asian companies’. He added: ‘For Bulgaria, the decisive factor would be the low income tax of ten per cent or the lowest rate in Europe’.
Han also said that the recently increased attention of Chinese and South Korean companies to the investment possibilities in both countries was due to the variety of sectors which were attractive for them, in particular ‘heavy equipment and IT in Bulgaria, while production of auto parts in Romania because of its larger market, better professionals and rich history of automobile production’.
WirtschaftsBlatt also recapped that the South Korean company Hyundai Heavy Industries has been active in Bulgaria in the fields of production of power transformers, water and solar power plants since 1997.
Han revealed the plans of his company for further action in Bulgaria before the Austrian media, saying ‘We are particularly interested in any kind of key infrastructure, such as concessions from the sea ports or airports. However, we also want to build wastewater treatment plants or be active in the chemical industry’.
In relation to corruption in the country, the director of Hyundai Heavy Industries-Bulgaria stated: ‘I think that there is no corruption on high levels (director level). Nevertheless, there probably is such on lower levels’. He added: ‘We, however, managed to affirm our position on the Bulgarian market without any bribe or waste of time’.
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