Maria Hristova, Chief Executive Officer of Sofia Investment Agency, and Plamen Panchev, Executive Director of the Trakia Economic Zone (TEZ), discussed the opportunities for joint initiatives to develop Sofia’s investment policy. The conversation focused on working models and possible joint activities between the Agency and TEZ in projects related to the development of the industrial and business areas and the attraction of investors in Sofia.
The meeting was the next step in a joint initiative launched at the end of last year between Sofia and Plovdiv for national union of major industrial centers in Bulgaria, which would establish our country as an attractive investment destination through joint efforts, resource sharing, and a unified marketing strategy for our country. We are glad that during the discussion with TEZ, we reaffirmed our shared vision that Bulgaria has strong competitive advantages in the region and has the potential to become a preferred nearshoring destination in Europe. During the meeting, our team spoke about our vision for the future and the models for transforming the former industrial zones in Sofia, which would become modern multifunctional urban areas through proper planning and a balanced mix of functions.
Sofia Municipality and TEZ have a solid basis for cooperation in investment projects due to the expertise of both parties in public- private partnerships, local strategies for attracting investors, managing investment projects, and attracting leading companies from countries such as the USA, Italy, Germany, France, the Netherlands, Great Britain, etc. We also share the common goal to attract investors in high value-added services and industries, at the expense of low-profile ones, and to create a healthy environment for business development and sustainable growth.
In recent years, the public and private initiative TEZ has implemented many successful projects for Plovdiv and the region with the development of 6 industrial zones. More than EUR 2 billion have been invested in an area of 10,700,000 sq.m, and more than 30,000 jobs have been created. The company applies a complex investor service model – from site selection with developed infrastructure, through construction of facilities, to assisting investors in applying for European programmes. The investments in projects agreed for implementation in 2021 amount to about BGN 100 million – in high value-added products, automotive sector, electronic components, logistics, pharmacy, etc.
TEZ also has joint projects with other municipalities in the country (Haskovo, Burgas, Gabrovo, etc.). It partners with Sofia projects for centers of excellence between the technical universities of Sofia, Plovdiv, and Gabrovo, as well as between the medical universities in Plovdiv and Sofia, in collaboration with the Bulgarian Academy of Sciences. Within weeks, TEZ will launch a pilot project in urban logistics. The serial production of an electric truck has started, which would restrict the entry of sizable heavy machinery into urban areas – the trucks will drive to suburban logistics bases instead. In the town/city, the logistics will be taken over by environmentally friendly transport. Sofia is among the cities that will test the electric trucks.
We believe that TEZ‘s expertise in working with investors and local authorities, developing industrial and logistics areas, and knowing and applying the legal framework, among others, makes them a strong partner for Sofia Municipality’s activities for urban development and attracting new investments.
Our team is available to assist in the implementation of projects in Sofia and the region through the TEZ and its investor network.