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Bulgarian media: Romanian and Greek companies relocate to Bulgaria

de Radu Rizea
Joi, 5 martie 2009, 12:29 English | Regional Europe

An increasing number of Romanian companies move their operations South of the Danube, to Bulgaria. In their attempt to protect themselves from the effects of the financial crisis, the companies search or a friendlier business environment, the Bulgarian daily Standart notes, quoted by Sofia Echo.

The trend was already observed in the Southern region of Bulgaria, where Greek companies search for a better development climate. Greek daily Valma notes that the companies are attracted by Bulgaria because of the low production costs. Several multinational companies like Tate & Lyle Greece, the German lingerie producer Triumph and the American giant Crown Cork & Seal already moved their operations in Bulgaria.

The head of the Industrial Association of Bulgaria, Kamen Kolev, claims that the main attraction consists in the lower level of expenses, functioning costs and salaries, which can  make operations cost up to 40% less than in other countries.

Given the economic crisis in Romania, the city of Ruse (near the Romanian border) already saw a significant increase of demand for office space.

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