Unnamed Investor to Put EUR 30 M in Bulgaria's Pleven

Stamen Yanev, Executive Director of the InvestBulgaria Agency, has suggested that Pleven anticipates investment amounting to EUR 30 M.

Speaking at a roundtable discussion uniting representatives of regional businesses and the central and local authorities, Yanev noted that it was too early to disclose details about the project.

The discussion on the development opportunities for the Pleven Municipality was attended by Deputy Prime Minister Meglena Kuneva, Deputy Economy Minister Daniela Vezieva, Deputy Mayor of Pleven Stefan Petkov, Pleven District Governor Ralitsa Dobreva, and representatives of companies and professional associations and employers' confederations, according to a media statement of the InvestBulgaria Agency.

During the discussion Vezieva explained that an investment strategy outlining measures for the different regions was being prepared.

Kuneva specified that the government was working actively to reduce the administrative burden on new investors entering the market, adding that this was one of the main obstacles to foreign investment in Bulgaria at present.

During the meeting the InvestBulgaria Agency presented a project aimed at popularizing the advantages of investing in Bulgaria on a global scale.

A plant of Nexans Autoelectric, the global manufacturer of cables and cabling systems, was opened last week in Pleven.

The facility has a total headcount of around 60 at present, with plans to have more than 240 employees by end-2015.