The first aquapark in Sofia is planned to open doors by this year’s end. It will be built as an extension of the new Vazrazhdane Park in Zona B-5 residential area. Part of the funds are provided by the municipal property management and the remainder comes from a loan from the Urban Development Fund under the ‘Regions in Growth’ Operational Program.
The park is part of Sofia’s strategy for developing the city’s green system and providing mass sport opportunities. The municipality invests just over BGN 9 million in the construction of the facility.
The aquapark will have an open area with 3 water slides and 5 different mineral water pools, including a pool for kids and babies. The indoor part of the facility will offer a swimming pool and a SPA center, which will be open all year round.
A preview of the project can be seen in the following video.
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Sofia’s public transport routes will be provided with additional vehicles in order to reduce waiting time. It is expected to decrease by an average of 1 to 5 minutes, the Urban Mobility Center reports. A total of BGN 240 million from Sofia Municipality’s budget for 2019 is allocated for investment in public transport. Moreover, the renewal of the vehicle fleet will continue and at the end of the year 90% of it will be composed of new and environmentally friendly vehicles. 83 new buses, 14 electric buses and 13 trams will be purchased, construction of the metro line will continue too.
Germany is Bulgaria’s most wanted business partner, according to a survey by the Bulgarian Chamber of Commerce and Industry. More than 43% of the companies prefer the country when it comes to business partnerships.
Among the other top wanted business partnership countries are Turkey, Switzerland, Russia and the United Arab Emirates. China is lagging behind in this year’s list due to the trade disputes with the United States, the language barrier and geographical distance. The big leap of Switzerland is worth mentioning. The federal country, which was 20th last year, is the third most preferred business destination for business relationships this year.
In addition, more than 77% of Bulgarian companies are looking for cooperation with foreign partners in order to increase exports; 28% of companies are looking for a partner for import of goods; 44% are looking for a co-investment partner in Bulgaria, and 14% for investments abroad.
The business in the country is mostly looking to establish contacts with companies in the fields of machinery and equipment (43%), services (26%), food and beverage (24%) and construction (19%).
Nearly two-thirds of the companies admit that they do not know well the business and trading conditions in the countries they want to have business relationships with. The opportunities offered by the EU-third country free trade agreements are among the main topics of interest to the business.
The survey by the Bulgarian Chamber of Commerce and Industry is available here.
Sofia Development Association just published Sofia City Integration Agenda developed in the framework of the INTEGRA project, funded by the European Union’s Asylum, Migration and Integration Fund. The City Integration Agenda document contains an audit report for the presence and participation of third-country nationals (TCN) in the life of Sofia. It also outlines the three most likely scenarios for the upcoming 3 to 5 years regarding TCN in Sofia: their presence, economic and social activity and integration, the capacity of the local community to accept them and the actions and measures of the local governance.
INTEGRA seeks to improve the process of long-term integration of third country nationals through urban partnership. The project includes 6 partner cities: Sofia, Bulgaria, Prague, Czech Republic, Kosice, Slovakia, Osijek, Croatia, and Rubano, Italy – all of them participating through city-to-city knowledge and experience sharing.
The survey covers the areas of employment and qualification, services for TCN (access to health care, housing, education and training, etc.), security and safety and civic participation. It also aims at identifying recommendations for city/municipal policies and measures to prepare for and respond adequately to these scenarios.
Four thematic posters are published as part of the report, outlining the main highlights in four areas – “The Labor Market and the Migrants in Sofia“, “Attitudes towards Migrants“, “Education and Migrants” and “Safety in Sofia and the Migrants“.
The infographics present data, trends, opportunities and shortcomings of the integration of TCN in Sofia in a comprehensible and attractive way.
All infographics, including those of the other partner cities in the program, are available on the project website – https://integra-eu.net/campaign/infographics.html.
The full Sofia City Integration Agenda document can be found here.
14TH NATIONAL CONFERENCE ON E-HEALTH
The general vision of the National Healthcare Information System (NCBI), good European and national practices for the digitization of the healthcare sector, the implementation of solutions for automation of the working process in the hospital administration are some of the highlights of the 14th National Conference on e-Healthcare 2019 to be held on February 14.
The event will gather representatives of public and private healthcare organizations, including hospitals, clinics, sanatoriums, laboratories and medical centers – CEOs, GMs, IT managers and CIOs, Medical Managers, Administrative Managers; representatives of health-insurance companies and funds, clinical laboratories, as well as representatives of state structures – political decision-makers, heads of ministry directorates, heads and CEOs of health-insurance funds, social security institutes, MPs.
For more information, please check the event website: events.ictmedia.bg/en/event/111
HOLIDAY AND SPA EXPO 2019
Holiday and Spa Expo is an international trade exhibition for the travel and tourism industry. The event provides the unique opportunity for establishing new contacts, expanding the client and partnership network, participating in business meetings with professionals from all over the world in all sectors of the tourism industry.
Holiday and Spa Expo will be held on February 14-16 and will host 380 exhibitors from 22 countries worldwide, over 20 000 professionals and visitors from over 60 destinations and tourist regions, and will include more than 50 supporting events.
For more information, please check the event website: holidayfair-sofia.com
SOFIA CYBERSEC 2019
Supported by the Commissioner for Digital Economy and Society Mariya Gabriel, Sofia CyberSec 2019 will cast a light over the contemporary security threats in the context of the upcoming EP general elections and the new EU regulatory provisions. The conference aims at focused and inclusive dialogue between all those with a stake in the internet – governments, civil society, industry and end-users.
The event is organized by the Digital National Alliance and Economic.bg and will gather international speakers, policymakers, leading industry experts, think tanks, etc. to discuss the EU regulatory challenges, elections security, threats and business strategies for improvements.
The main stage will be accompanied by parallel sessions of hands-on training labs delivered by event partners and industry experts and available for limited number of participants upon registration.
Sofia CyberSec 2019 will be held on 14th February 2019 in Sofia Tech Park.
INNOVATION EXPLORER 2019
Innovation Explorer 2019 is the fifth edition of the Forum, organized by Kapital and
Digitisation can be the next big engine for sustainable growth for Bulgaria, adding 1% extra growth per year to the Gross Domestic Product (GDP) of the country by 2025. This is stated in McKinsey consulting company’s report The rise of Digital Challengers: How digitalisation can become the new growth engine for Bulgaria and Central and Eastern Europe (CEE), published at the end of January.
The report examines the size and growth rate of the digital economies in ten Central and Eastern European countries: Bulgaria, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Hungary, Croatia, and the Czech Republic. According to the survey, overcoming the digital backwardness of Bulgaria compared to Western and Northern Europe would provide the country’s digital economy a growth of 10.8% in the next five years, from the present 5.2% to 16% of GDP. As a result, Bulgaria would be able to add up to 8 billion euro of GDP by 2025.
According to McKinsey’s analysts, the digital economy in Bulgaria represents a comparable share in the GDP (6.7%), and it is close to that of the large markets (6.9%). Still, the country is way behind the digital leaders such as Sweden, where this share reaches 9%.
However, the digital economy in Bulgaria has grown two and a half times faster compared to the five major markets of Europe – by 8.2% compared to 3.1%. As a result, Bulgaria can claim the title of a digital competitor, says the report.
The Data
Between 1996 and 2017, the ten countries report an average increase of 114% in GDP per capita. But in recent years, traditional engines of economic growth have begun to slow down and CEE economies have a capital that is 80% lower compared to the largest EU countries. Labour costs in the whole region rise at a very low rate (average of 5.2% in 2018 in Bulgaria) and labour productivity is lagging behind the rates in Western European countries. For example, the one-hour productivity in Bulgaria reaches 22 euros, while for digital leaders in Europe it reaches 64 euros.
However, Bulgaria is in a good position to use the increased levels of digitisation. Its economy is relatively small and opened, and relies on trade. Thus, it is similar to the other digital competitors, as well as to the digital leaders (and is different from the large Western economies in the European Union and their huge
The green tram rails in the area of Ruski Pametnik Square will be extended to Macedonia Square and a new small city park will be constructed along the stretch. The alley will be enriched with 467 new trees and 3720 square meters of green areas, recreation areas and cross-connections for crossings of the tramway. A convenient pedestrian and bicycle traffic will be provided and the currently available 163 parking spaces, as well as the local lanes will be preserved. Sofia Municipality is working on the project in cooperation with the French studio “Wilmotte Architects“.
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Sofia Municipality has renewed the fleet of the social transport service for people with disabilities with 13 new Renault buses. Seven of them are already operational, and gradually the Municipality with put another 8 into operation. The vehicles meet the Euro 6 standard and are equipped with wheelchair lifts, assistant seats and air-conditioners. The working hours for the service are extended from 6 am to 11 pm, as the transport should be requested 12 hours in advance. The Social Services Directorate of Sofia Municipality serves between 600-700 requests a month for transportation of people with disabilities to workplaces, health facilities, etc.
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A new buffer parking lot with 193 parking spaces will be opened in August this year at Vasil Levski Stadium metro station, the Sofia Urban Mobility Center announced. The “Park and Travel” service will also offer a parking lot. The service is a combination of the use of a private vehicle to the buffer parking lot with free parking when using the metro.
Another two parking lots are scheduled to be repaired this year – the underground parking lot to the Central Railway Station, which has 73 parking spaces, and an above-ground parking lot in Nadezhda district.
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As of May 2019 another airline will operate flights from Sofia to Tel Aviv. Ryanair will launch round trip flights twice a week, on Wednesdays and Sundays. Currently, Wizz Air also offers flights to the Israeli city. Furthermore, it carries passengers to another popular destination in Israel, the resort town of Eilat. By November 2018 Bulgaria was visited by some 236 000 Israeli tourists and Bulgarians who traveled to Israel totaled 19 000, according to preliminary NSI data.
Payhawk is among the five finalists in the international Pitch and Power Competition of Visa and Wirecard. Being among the Top 5 Best Quests gives the Bulgarian company the right to present its product to the start-up competition at the Paris Fintech Forum 2019.
Payhawk creates a new generation of virtual and physical Mastercard and Visa corporate cards with automated cost management. The technology monitors, analyzes and retrieves information from payment documents, thus saving time for the employees and the accountants to administer business payments. Among the key features of the product are: automatic accounting, budgeting, forecasting and cost reporting, digitalisation of payment documents and data collection from invoices and notes. The service also provides a mobile application and a web portal for cost control and optimisation.
The company works with a small team and was established only a year ago, but managed to open an office in London in addition to the one in Sofia. The inclusion of Payhawk among the companies admitted to the Paris Fintech Forum conference is a chance for the start-up to promote its product and to get additional funding for further growing and development.
The specialized two-day Financial Technology Forum in Paris will be held for a third consecutive year. More than 2,600 attendees from 60 countries around the world are expected to gather for the keynote speeches of 240 executives from banks, insurance companies, telecoms, regulatory authorities, and fintech organizations. Together they will outline the trends in this rapidly growing industry.
The Swedish-Bulgarian Chamber of Commerce (SweCham Bulgaria) was established in Sofia. The official opening ceremony was held on January 17 with the presence of the Swedish Ambassador to Bulgaria, H.E Louise Bergholm and the Bulgarian Deputy Economy Minister Liliya Ivanova.
SweCham Bulgaria will focus on the Swedish-related business in Bulgaria and the culture of Sweden.
Sweden’s ambassador to Bulgaria, Louise Bergholm, emphasised the strong presence of Swedish firms, with close to 40 subsidiaries of Swedish companies present in Bulgaria, with an increasing number of Swedish investments in the digital economy.
🇸🇪🇧🇬Swedish Bulgarian Chamber of Commerce now up and running. Thanks to founding members @AstraZeneca @TrelleborgSeals @Saab Join the chamber: https://t.co/Z4QLMkb12s @TeamSwedenSE @BulChamber @MoEBulgaria @SweMFA pic.twitter.com/ylWthdWZ18
— Amb Bergholm (@SwedeninBG) January 18, 2019
“In the past 13 years, Swedish investment in Bulgaria reached nearly 300 million euro, with an 11.3% growth in volume of trade by October 2018, to a value of nearly 343 million euro. Bulgaria’s Economy Ministry would make every effort to make Bulgaria an even more attractive investment destination for Swedish capital,” Deputy Economy Minister Liliya Ivanova said at the opening ceremony.
According to data announced at the launching event, 87% of the Swedish companies in Bulgaria expect to expand in the mid-term, while 90% expect to grow their turnover in the next three years. Half of the enterprises expect to increase staff levels in 2019, while more than 50% expect to do so in the next three years.
The purpose of the newly established Swedish-Bulgarian Chamber of Commerce will be to contribute to the development of business relations and business-related initiatives between Sweden and the Republic of Bulgaria.
According to the official announcement, the Chamber will do the following to attain its goals:
- Support and protect common interests and organize advisory service to its members in their activities in the Republic of Bulgaria.
- Initiate, organize, support or coordinate seminars, business trips, meetings and social events, supporting the activities of the members of the Chamber.
- Assist, support and represent its members when dealing with the governmental and local authorities regarding general issues and in the general interest of the members.
- Support its members in conducting negotiations and concluding transactions.
- Investigation of the conditions of the bilateral commercial exchange, in particular, the possibilities for sale, production, supply, cooperation and investments in both countries.
To join SweCham Bulgaria, please register on the website: https://www.swechambulgaria.org/membership/
This year, the first co-studying space might open in Sofia. It will be named StudyHub and is initiated by the Students in Action Association, which is currently looking for partners and investors for the realisation of the project.
StudyHub will be a co-studying space following the model of the co-working spaces. It will be equipped with rooms for individual studying as well as a common space where students from different universities and specialties can interact with each other and attend events and open lectures. StudyHub will be located in Studentski grad, near urban transport stations, and will offer a twenty-four-hour access, seven days a week. It will also be adapted for people with disabilities, while constant video surveillance will ensure its security. The access will be granted via subscription cards, which will be available for students from every university.
The project leaders from Students in Action are a team of young people from two Sofia universities – Sofia University “St. Kliment Ohridski” and New Bulgarian University. The idea was influenced by the social environment of Studentski grad – it’s congested with over 200 places of entertainment and clubs, but has only one library. Those surroundings provoked the marketing student Martina Georgieva to look for a quieter place to study, like the coffee house of a gas-station. Which, as it appeared, was a study place for a lot of students.
That was the beginning of the StudyHub project – a place with twenty-four-hour access, where the young people of Sofia can study, prepare for lectures, collaborate and evolve together on their journey from the university to professional realisation.
Before gaining the initial resources for realising the project, the team of StudyHub made a survey among over 1000 students in order to ascertain the need and expectations of a co-studying space for the student community. 75% of the respondents were positive that a co-studying space is needed.
In countries like Great Britain, Germany, Netherlands, etc. such places are integrated within the university campuses. It’s also not rare to find a library working in a similar way, providing twenty-four-hour access, with the user fees being included in the university tuition. Such co-studying spaces facilitate the educational process and help the students to form out-of-class communities.
Currently no such co-studying spaces are available in Bulgaria. The team’s viewpoint is that the creation of such a space could build an active student community, enhance
Bulgaria’s largest IT community DEV.BG launched its new project – the HireHeroes platform, which helps IT specialists to choose the most suitable company for their career development. Following direct recommendations from sector professionals, candidates can connect with the organizations that suit best their profile and career goals.
The search for information, advice and recommendation from experienced IT specialists is turning into more and more preferred way for specialists in the sector to find their next job. The team behind the new platform believes that an instrument that organizes this trend in a simple and quick process will lead to more adequate appointments given the shortage of specialists and fluctuation of labor force in the industry, which are the main barriers to growth in the sector.
Advantages of the platform
The referees (Hire Heroes) in the network are active IT professionals, proven experts and public opinion leaders. Their role as recommenders with industry expertise and knowledge is a core value of the platform. Their participation as consultants and referees shortens the long process of research, selection and numerous interviews both for candidates and companies.
‘The shortage of specialists and the frequent change of the workplace are the main problems that hamper the growth in the industry’, says Svetoslav Dimov, manager of DEV.BG. ‘If you are a good specialist but you change your job all the time, it leads to the loss of personal satisfaction. For companies, the constant staff fluctuations are an additional resource that reduces productivity and slows down their growth. With the HireHeroes model, the right people will go to the right companies that will keep them longer.’
How does the platform work?
- All companies provide the referees with company information, an updated list of open positions and details of the hiring process.
- The only requirement for candidates is to have over 1 year of professional experience. Each candidate can choose three referees and make direct contact with them for advice, information and recommendation about their professional experience, specifics of the companies they are researching and other important details that are often skipped in job offers.
- HireHeroes provides candidates with internal details that can show them whether the companies they are targeting are really relevant to their profile. They stay in touch until both sides come together to select up to three best suited organizations and send an application with a personal recommendation from
The Fund of Funds is preparing a procedure for the implementation of a new financial instrument – the Technology Transfer Fund (TTF), funded by the “Innovation and Competitiveness” 2014-2020 Operational Program (OPIC).
The instrument targets investments in the development of innovation potential in the fields of mechatronics and clean technologies, informatics and information and communication technologies, industry for healthy life and biotechnology, new technologies in creative and recreational industries. The resource amounts EUR 30 million, but additional co-financing from private investors is expected as well.
The structure of the instrument is highly flexible and will vary in a wide range, from EUR 25 thousand to EUR 5 million. TTF will invest primarily in early-stage development projects developed by universities, technology parks, research laboratories, etc.
Currently, there are ongoing market consultations with potential financial intermediaries and key players. The results will be available on the website of the Fund of Funds after February 8.
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The Fund for Sustainable Cities announced a procedure for funding projects under the Urban Development Fund financial instrument through long-term, low-interest loans for projects that contribute to the sustainable regional, economic and social development on the territory of Sofia and Southern Bulgaria. The total amount of the fund’s resource is BGN 342.37 million.
Eligible end recipients are municipalities, municipal companies, universities, private companies, public-private partnerships and others, for the implementation of urban projects, sports and cultural infrastructure, ecological and sustainable urban transport, energy efficiency of residential buildings and student dormitories, business and industrial areas, tourism and cultural heritage.
The funding requirements and the application documents are published on the official website of the Fund for Sustainable Cities: http://www.citiesfund.bg/
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The European Funds for Competitiveness Directorate General – Managing Authority of the ‘‘Innovation and Competitiveness’ 2014-2020 Operational Programme – opened a selection procedure for projects on ‘Improving Production Capacity in Small and Medium-Sized Enterprises’ (9BG16RFOP002-2.040).
The procedure aims to improve the production capacity of small and medium-sized enterprises in order to increase their competitiveness and enhance their export potential.
The grant is implemented with the financial support of the European Union through the European Regional Development Fund. The total amount of funds under the procedure is BGN 146 687 250.
Applications are submitted electronically to the following Internet address: https://eumis2020.government.bg.
The deadline for submitting project proposals is May 21, 2019.
Questions can be sent to sme_capacity@mi.government.bg.
Detailed information, all the conditions and
In October 2018, the EU signed the long awaited trade and investment agreements with Singapore. The new regulations will help companies benefit from easier exchange of goods and services, enhanced investment and facilitatеd labour market between Singapore and the countries from the EU. The EU-Singapore trade and investment agreements led to increased interest from Central and Eastern European countries such as Poland, the Czech Republic, Hungary, Romania etc. to work hard over exploring the opportunities of doing business with Singapore.
This article aims to help Bulgarian companies interested in market opportunities in Singapore by providing key facts on the agreements and useful links to more detailed information about the regulations in the different sectors and types of activities. You will also find a list of organisations providing consultancy and trade support services to facilitate the bilateral partnerships between Bulgaria and Singapore.
A snapshot of the EU-Singapore trade
Singapore is the 20th smallest country in the world with a population of 5.6 million people, but it is the EU’s 14th largest trade partner in goods, as well as the biggest partner for the Union in the region of Southeast Asia. In 2017, bilateral trade in goods amounted €53.3 billion, with the EU exporting €33.16 billion, mainly cars and machinery, while importing €20.14 billion, in particular chemicals and pharmaceuticals.
The country is a gateway to Southeast Asia and a major transport hub. It has an extensive network of trade agreements with over 30 trading partners and trades more than €550 billion with the rest of the world every year. Over 10 000 European companies have set up their offices or regional hubs in Singapore. With a very service-oriented economy, Singapore is also the EU’s 5th largest worldwide trade partner in services and the EU’s 6th destination for foreign direct investment measured in stock.
Benefits under the EU-Singapore agreements
The EU and Singapore negotiated and signed two agreements: the Free Trade Agreement (FTA) and the Investment Protection Agreement (IPA).
Strategic benefits:
- Before the agreement, almost all goods from the EU could already enter Singapore free of customs duties. The FTA will now eliminate the remaining tariffs within three to five years, depending on the product category.
- On top of the classical removal of customs duties, the agreement will also tackle non-tariff barriers:
- on marking, labelling, etc.
- Singapore will recognise current EU standards and testing on cars and car parts
- Singapore will