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Greece 3rd biggest investor in Bulgaria

Thursday, Sep 25, 2008

Greek investments in the country more than doubled in the first half to EUR 244.5 million, accounting for 11.8% of total FDI, versus EUR 92.1 million in the respective period last year.
Greece remains Bulgaria’s third biggest investor, following Austria and Germany, said Bulgarian Central Bank. Foreign Direct Investments (FDI) in Bulgaria has reached EUR 12 billion over the past two years, while FDI is seen exceeding EUR 7 billion in 2008.
Greek investments in the country more than doubled in the first half to EUR 244.5 million, accounting for 11.8% of total FDI, versus EUR 92.1 million in the respective period last year.
Austria invested EUR 370.4 million in the period, while Germany EUR 282 million.
Greek investors focused on the real estate sector, leaving British, the biggest investors in the field, far behind, said consulting company Elta Consult.
In the first half, Assos Capital took over Carrefour’s Mall in Sofia for EUR 200 million, marking Greece’s biggest investment in Bulgaria in the period.
According to sources, Greek company Septoma plans to invest EUR 2 million in the construction of a cosmetics plant in the Rouse free zone.
Meanwhile, Bulgaria’s trade volume with Greece stood at EUR 1.2 billion in the first half, up by 37.6% in the respective period last year, mainly due to an annual 52.6% rise in Bulgaria’s exports to Greece. Greek exports to Bulgaria rose by 25.8% to EUR 625.4 million in the period.

Source: www.emportal.co.yu/en