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Vladimir Danailov: We Need to Focus on Innovative Industries

Image source: Bloomberg TV Bulgaria

Sofia is Bulgaria’s largest city; it is the educational centre of the country and a regional talent hub. These are the main reasons the city attracts the biggest share of investments in Bulgaria, said Vladimir Danailov, CEO of Sofia Investment Agency in an interview with Bloomberg TV Bulgaria.

The low labour cost and low corporate taxes also had a very positive effect on attracting foreign investments, but at the same time, these incentives have no long-term potential.

Now we need to focus on attracting industries that produce innovations. Such industries drive tangible economic development. When we manage to attract innovative industries in the city, we will tackle another big challenge – attracting and retaining high quality, well educated, skilled and talented people, he added.

The full interview is available in Bulgarian on Bloomberg TV Bulgaria.