BCCI took part in the Bulgarian-Austrian Business Forum on "Transport Infrastructure"

BCCI took part in the Bulgarian-Austrian Business Forum on Transport Infrastructure. The event is organized by the Commercial Department of the Austrian Embassy with the assistance of the Bulgarian Chamber of Commerce and Industry and is on the occasion of the official visit of the President of the Republic of Austria Alexander van der Bellen to Bulgaria.

Ulrike Straka, Commercial Counselor at the Austrian Embassy in Sofia, as moderator of the forum, outlined the main objectives of the event - bilateral meetings of 13 Austrian companies with about 60 Bulgarian companies and institutions, as well as support at the highest level with the presence of the presidents of the two countries. She said that the Austrian companies working in Bulgaria are the largest foreign employer in our country.

The President of the Republic of Bulgaria, Rumen Radev, officially welcomed the participants and stressed the need to maintain excellent political relations in order to have a successful business. Relations between the two countries are becoming more coordinated and successful, especially within the framework of the rotating presidency of the EU Council, Radev said. In addition, the turnover for 2017 amounts to 1.2 billion euros, and Austria is the number two investor in our country. "The presence of Austrian companies in the country imposes a modern business model, which is even more valuable than the investments themselves," said President Radev.

The forthcoming tripartite meeting in Rousse together with the President of Romania was also mentioned, as its aim is to relaunch the Danube River connections and create a communicative regional environment.

Austrian President Alexander van der Bellen said diplomatic relations have been very intense lately. The priorities of the two countries' presidency are very similar in terms of EU development. He stressed his satisfaction with the business initiative and the interests of the Austrian companies working in Bulgaria. In his view, partnership is mutually beneficial.

The Austrian President raised questions about the future of Europe, its development over time, future priorities, whether the single European market is all we want from the EU and is it enough.

The Minister of Regional Development and Public Works of Bulgaria Nikolay Nenkov addressed the participants and defined the bilateral economic relations as constructive, excellent and based on mutual interest.

He noted that construction has grown by 3% in the past year, and only in the first three months of this year the growth in this sector in Bulgaria is 24%. The success was also due to the participation of Austrian companies in the construction of several infrastructure projects - the Luda Yana dam, the toll system of the motorway network and others.

Dr. Richard Schenz, Vice President of the Austrian Chamber of Commerce, presented the cooperation between Bulgaria in Austria in the field of infrastructure and the results of a survey of Austrian investors in Bulgaria on the business environment. He recalled the opening of OMV's first petrol station in Sofia 25 years ago and gave examples of successful collaborations.

Discussed was also an Austrian dual training project involving 400 trainees in 19 companies - Bulgarian and Austrian, working in Bulgaria.

The President of BCCI introduced the good cooperation between Bulgaria and Austria in the economic sphere with emphasis on the transport infrastructure. He identified Austria as one of Bulgaria's traditional and important trade and economic partners. Mr. Simeonov emphasized the necessity of infrastructure connectivity in the region as well as the building of more and better organized Crossing Points at the borders of Bulgaria, some of which are external to the EU. He stressed that BCCI registered sustainability of Austrian investments in Bulgaria. According to a research, made by BCCI, about 90% of the foreign investors in the country are determined to continue their work in Bulgaria and to increase their investments.

According to Simeonov, it is necessary to pay special attention to the railway transport in the country, the use of its advantages for the business and the stimulation of competition with land road transport.

He confirmed that companies have an alternative to the state judiciary in the face of commercial arbitration when it is necessary to resolve disputes rapidly and professionally.

The official part was preceded by bilateral meetings between Bulgarian and Austrian companies in the field of transport.