Azerbaijani investors may be interested in Bulgaria’s tourism sector

Azerbaijani investors may be interested in Bulgaria’s tourism sector – minister

3 April 2018 10:01 (UTC+04:00)

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Azerbaijan entrepreneurs may be interested in making investments in Bulgaria’s tourism sector, Tourism Minister of Bulgaria Nikolina Angelkova said in an exclusive interview with Trend.

"Bulgaria is becoming an increasingly attractive destination not only for tourists but also for entrepreneurs. Our ambition is for the Ministry of Tourism to become a one-stop shop for large investors in the sector, to encourage them and to focus administrative procedures in one place," said the minister.

Angelkova noted that Bulgaria has created flexible conditions and a lot of incentives for successful implementation of serious business ventures.

"We, together with the municipalities, prepared a Map of investment projects in tourism in Bulgaria, including more than 30 sites from different parts of the country, following an invitation to all regions to participate in it. These are mostly ideas for renovation of parks and urban environment, swimming and SPA complexes, exposition and cultural centers, ski facilities, tourist infrastructure and others. The selection is open and can be complemented by new proposals," said the minister.

She went on to add that the Map is published not only in a separate brochure in several languages but also on the Ministry of Tourism website.

"We promote it in any appropriate case to potential investors. I am convinced that the realization of the sites will bring economic benefit to both businesses and consumers of tourist services," said the minister.

Bulgaria has its unquestionable advantages as a business and outsourcing destination – 10 percent corporate tax rate and 10 percent personal income tax, political stability, GDP growth of 3.4 percent for 2016 (fifth in the European Union) and second highest ratio of the government debt / GDP within the Community, she noted.

"On average, over the past 5 years, Bulgaria has twice as much increase in tourist trips from abroad as compared to the EU level. These are undoubtedly attractive features of the country and I am sure that the Azerbaijan investors will also be interested in them," added Angelkova.

It is already a fact that world hotel chains start building high-class sites on the Black Sea coast and in the interior of the country because the demand for higher-star hotels grows steadily, said the minister.

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