Bulgaria readu to double subsidies for Volkswagen’s new auto plant : Bulgarian Automotive Cluster

Romania has also initiated talks to lobby for the investment.

Turkey’s military offensive in Syria is taking a toll on its economy: Bulgaria said, it is ready to offer more incentives to Volkswagen for it to build a new plant in the country. Volkswagen has postponed its decision to build its new plant in Turkey following Ankara’s decision in Syria.

Sofia has stated, it is ready to double its subsidies and boost its offer to 260 million euros, up from 135 million, said Rosen Plevneliev, a board member of the Bulgarian Automotive Cluster, to Bulgaria’s BNR public radio.

“Yesterday’s statement was a good start. But there is a long way to go before we can see what the final decision will be,” said Plevneliev, who also happens to be a a former Bulgarian President. “Bulgaria has prepared a wonderful proposal, which offers the utmost possible under European Union laws”.

The Bulgarian Automotive Cluster is a collective of over 54 companies from the automotive sector and car part industry.

“We can expand our cooperation with Volkswagen in different areas. Bulgaria is to build infrastructure for electric cars. We also have ideas how to back up the carmaker with additional infrastructure and educational measures,” said Plevneliev.

He however declined to comment both on whether Sofia is improving its offer or on an eventual subsidy increase.

Romania has also decided to jump into the fray and has said, it has initiated new talks to lobby for the investment.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy, Sustainability

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