Foreign Direct Investment in Bulgaria - sponsored by Addison Read

Foreign Direct Investment Data 2000-2006 - EUR Millions

Country	2000	2001	2002	2003	2004	Total since 2000	2005	2006
Bulgaria	1,086	896	926	1,234	1,500	5,642	2,000	2,000
Hungary	1,785	810	891	2,320	2,500	8,306	2,800	2,500
Romania	1,812	1,312	1,194	1,590	3,500	9,408	3,000	3,000
Czech Republic	4,979	6,114	9,791	2,090	3,650	26,624	5,900	4,900

Source: Creditanstalt / Bank Austria - http://economicresearch-e.ba-ca.com

Romania FDI in 5 year period - 2000-2004 exceeds Hungary by €1.1 billion.

Romania economic engine accelerated hard in 2004 with a 120% jump in Foreign direct investment in 2004.

Major multinational companies that are establishing operations on the Romanian market are detailed in the margins of this page.

Country	Population Millions 2004	GDP Growth % 2004	Unemployment % 2004	FDI - 2004 EUR millions
Bulgaria	7.8	5.6	12.7	1,500
Croatia	4.4	3.7	18.9	850
Poland	38.6	5.5	19.6	3,300
Romania	21.7	8.3	6.8	3,500
Slovakia	5.4	5.2	14.4	540
Czech Republic	10.2	3.6	10.3	3,650
Slovenia	2.0	4.2	6.4	100
Hungary	10.1	3.9	6.0	2,500
Albania	3.2	6.0	14.8	200
Estonia	1.4	6.3	9.8	420
Latvia	2.3	8.7	10.0	445
Lithuania	3.5	6.5	11.5	620
Macedonia	2.0	1.5	35.0	120

The populations of Romania & Poland combine to account for 53.5% of the total population of Central Europe.

GDP Growth in 2004 @ 8.3%is only exceeded by Latvia 8.7%.

Unemployment @ 6.8% is only bettered by Hungary @ 6% & Slovenia @ 6.4%

BULGARIA KEY CONVERGENCE INDICATORS 1993 -2001

Primary GDP Indicators	1993	1994	1995	1996	1997	1998	1999	2000	2001
GDP (real%ch	-1.5	1.8	2.1	-10.9	-6.9	3.5	2.4	5.0	6.8
GDP (Euro bn)	9.2	8.1	11	7.8	9	10.9	11.3	12.7	13.8
Per capita (Euro bn)	1091	966	1312	939	1086	1324	1371	1544	1682
Per capita GDP (US$m) %ch	N/A	-11.4	35.8	-28.4	15.7	21.9	3.6	12.6	8.9

GDP by sector %	1993	1994	1995	1996	1997	1998	1999	2000	2001
Manifacturing	32.7	29.9	31.0	30.6	25.3	25.5	23.4	n/a	n/a
Agriculture	9.9	11.5	12.7	12.4	23.8	18.7	15.1	n/a	n/a
Services	50.8	51.8	51.1	51.5	40.5	44.7	48.8	n/a	n/a

Employment by Sector	1993	1994	1995	1996	1997	1998	1999	2000	2001
Agriculture	22.1	23.2	23.9	24.4	25.3	25.7
Manufacturing	30.3	29.1	28.1	27.5	32	30.8
Fixed investment (% of GDP)	9.4	14.4	13.6	11.4	12.8	15.1	17.1	19.6
Fixed investment growth (%)	-14.7	1.1	10.5	-22	-22.1	16.4	20	19	22
Foreign direct investment - FDI (US$m)	102	211	163	256	636	220	755	1000	1000
Share of economy in private hands(%)		40	45	45	50	63	75	75	75

Trade	1993	1994	1995	1996	1997	1998	1999	2000	2001
Trade with EU (% of total)	28	34	37	37.6	41	46.5	52	53	54
Exports to EU(%)	28.1	35.5	37.6	39.1	43.3	49.7	55	56	57
Imports from EU(%)	28	32.1	36.5	35.1	37.3	45	50	51	52
Current account (% of GDP)	-10.4	-0.3	-0.2	0.9	4.3	-0.5	-5.7	-5.4	-5.4
Fiscal balances (% of GDP)
Budget balance	-14.1	-5.5	-5.7	-11	-3.1	1.1	-1.3	-1	-0.5
Public debt	163.7	161.7	115.7	124.6	106.8	86.7	71	68.4	60.5
Prices
CPI inflation(%)	73.1	95.9	62.1	123	1,082	22.3	1.8	6.6	2
Proportion of prices liberalised(%)		58	54	47.9	83	84.2	85	87	88

Sources:
Bulgarian National Bank
National Statistics institute

BULGARIA - FOREIGN DIRECT INVESTMENT INFLOWS 1990-2000

YEAR	Privatization	Capital market	Greenfield+	Total by years
	USDm
1992			34.4	34.4
1993	22.0		80.4	102.4
1994	134.2		76.7	210.9
1995	26.0		136.6	162.6
1996	76.4		180.0	256.4
1997	421.4	29.7	185.1	636.2
1998	155.8	64.2	400.0	620.0
1999	305.7	53.1	447.3	806.1
2000 10 mths	450.0	15.0	340.0	805.0
2000 forecast	480.0	20.0	500.0	1,000.0
Total 1992-2000	1,621.5	167.0	2,040.5	3.829.0

FOREIGN DIRECT INVESTMENT - BY COUNTRIES - 1992-2000
in millions of USD

Country	1992	1993	1994	1995	1996	1997	1998	1999	2000 10 mths	Total by countries
GERMANY	0.11	56.63	111.43	16.16	53.10	31.44	55.7	101.3	44.40	470.27
BELGIUM	0.00	0.14	0.30	10.02	0.79	264.39	31.22	66.22	39.40	412.48
ITALY	0.01	0.22	5.17	2.27	1.19	0.42	2.06	23.02	338.40	372.76
GREECE	0.16	5.08	2.97	29.79	14.55	16.10	3.33	14.91	226.5	313.39
CYPRUS	0.33	1.19	0.39	1.40	7.51	20.55	109.09	108.91	-19.35	230.02
USA	0.00	10.49	16.15	16.10	20.66	46.61	38.6	49.8	6.7	205.11
UK	6.21	5.55	2.43	13.74	7.26	15.83	58.85	48	19.7	177.57
NETHERLANDS	0.07	0.52	37.94	0.85	46.27	10.80	41.28	27.96	0.26	165.95
AUSTRIA	13.03	1.02	14.66	1.39	12.07	12.46	46.91	23.39	38.7	163.63
RUSSIA	0.31	1.35	2.27	15.05	14.37	2.01	14.84	103.74	0.73	154.67
TURKEY	0.00	9.84	1.26	13.74	7.26	9.87	23.76	39.39	15.2	120.32
SPAIN	0.04	0.06	0.01	0.00	0.00	49.55	56.8	3.21	0.44	110.11
SWITZERLAND	0.38	6.69	0.24	7.87	23.08	31.36	6.58	13.13	4.98	94.31
FRANCE	0.00	0.22	4.19	4.99	6.51	0.82	3.35	62.72	6.88	89.68
KOREA	0.00	0.00	0.26	0.20	22.31	22.90	1.78	2.81	6.58	56.84
BAHAMAS	0.00	0.00	0.00	0.00	0.00	0.00	22.76	10.36	14.45	47.57
LUXEMBURG	0.40	0.58	0.58	0.36	0.23	11.75	22.71	3.81	0.39	40.81
IRELAND	0.00	0.00	0.02	17.40	0.18	5.21	0.97	3.72	0.59	28.09
HUNGARY	12.26	0.05	0.00	0.00	0.07	0.00	0.68	1.68	1.73	16.47
ISRAEL	0.00	0.03	0.93	0.02	1.45	0.01	0.03	13.84	-0.04	16.27
CZECH	0.00	0.00	0.05	2.34	2.28	4.68	0.58	0.09	0.00	10.02
MALTA	0.00	0.00	0.01	0.12	0.09	0.09	8.9	0	0.51	9.72
LIECHTENSTEIN	0.00	1.11	0.13	0.01	0.00	2.53	0.79	1.28	2.98	8.83
SWEDEN	0.00	0.00	0.01	0.03	1.42	2.36	0.94	1.57	0.19	6.52
DENMARK	0.00	0.00	1.07	0.02	0.00	1.12	1.58	0.33	0.89	5.01
JAPAN	0.01	0.00	0.08	0.50	0.60	1.90	1.89	0	0.02	5.00
TOTAL by years	34.42	102.37	210.86	162.63	256.36	636.16	619.96	806.10	805.00	3634.00

FOREIGN DIRECT INVESTMENT IN BULGARIA BY SECTORS AND BY YEARS
in millions of USD

Sector	1992	1993	1994	1995	1996	1997	1998	1999	Total by sectors
Industry	0.2	20.8	28.2	94.5	172.5	458.5	310.6	471.2	1556.5
Trade	13.5	70.0	59.9	20.1	32.4	45.7	177.4	124.0	543.0
Finance	0	1.8	18.8	32.3	15.4	64.3	72.2	119.1	324.0
Tourism	0.6	0.8	43.3	10.2	23.3	5.7	18.4	40.5	142.8
Transport	12.8	2.1	55.2	1.2	4.8	3.1	6.2	11.7	73.6
Telecommunications	6.1	4.0	0.0	0	0.9	3.6	23.2	14.1	51.9
Construction	0.2	0.3	4.8	1.1	1.1	6.2	6.3	6.5	26.5
Agriculture	0.0	0.0	0.0	0.1	1.4	4.6	0.1	2.4	8.5
Other	1.2	2.5	0.7	3.1	4.6	44.4	5.5	40.0	102.1
Total	34.4	102.4	210.9	162.6	256.4	636.2	620.0	806.1	2828.9

The following are some of the largest foreign investors:

IVAN ZOGRAFSKI - Germany

MINING
NAVAN BULGARIAN MINING - Ireland	BRITISH GAZ EXPLORATION AND PRODUCTION - UK
METALLURGY
UNION MINIERE (Belgium)
MECHANICAL ENGINEERING
ATUSA - Spain	PLANZEE TIZIT - Austria
EUROTECH - USA	CONSORTIUM FRANCE
IRELAND - France	MAILER - Germany
MESER GRISHEIM - Germany	KONTRAKO - USA
SANITATION
AMERICAN STANDARD - USA
ELECTRICAL ENGINEERING
ASEA BROWN BOVERI - Switzerland	SIEMENS - Germany
SPARKY TRADING - Germany	HYUNDAI - Korea
VIDEOTON HOLDING - Hungary	PRAMET BULGARIA - Czech Republic
KOSTRA DEVELOPMENT - Israel	FESTO - Austria
SILWAY TECHNOLOGY - France	SIGMA DELTA - Belgium
SCHNEIDER ELECTRIC - France	ACHED TECHNOLOGY - USA
CHEMICALS
SOLVAY - Belgium	WHITEBEAM HOLDING LTD - USA
LUCOIL PETROL - Russia	IBE TRANS Inc. - USA
FRANCE ARNE - France
PHARMACEUTICAL & CHEMICAL INDUSTRY
DEUTSCHE BANK - Germany	NOVA TECHNOLOGY - Ireland
ERLTON FUND - Ireland	SWEDISH MATCH - Sweden
BUILDING MATERIALS & GLASS
BARECK OVERSEAS LTD. - Cyprus	GLASINVEST LTD - Cyprus
BRAMACK DACHSYSTEME - Austria	KERAMIK HOLDING - Switzerland
KNAUF - Austria	YTONG HOLDING - Germany
GIBU - Italy	HOLDERBANK - Switzerland
CEMENT FRANCAIS - France	HEIDELBERGER ZEMENT - Germany
PLEVCEM Ltd. - Cyprus
ENERGY
ACCESS INTERNATIONAL - USA	CEYLAN INSAAT - Turkey
ENTERGY - USA
PAPER INDUSTRY
ADUT-ADOX SKALICA - Slovak Rep.	EUROPAC - Austria
ISIKLAR HOLDING - Turkey	NOREKOM GmbH - Germany
PROFITECH ENTERPRISES - Cyprus	THRACE PAPER MILL - Greece
TEXTILES & FINISHED GARMENTS
A. MUELLER & SOEHNE GmbH - Germany	HAINER & PETER ROESLER - Germany
MARLAND INTERNATIONAL LTD - Ireland	MIROGLIO - Italy
SALVADORI - Italy	ROLLMANN - Germany
FOOD & BEVERAGES
INTERBREW - Belgium	BOYAR INTERNATIONAL - UK
DANONE - France	DELTA - Greece
CHIPITA INTERNATIONAL - Greece	EASTSTARCH - Netherlands
KLARINA HOLDING - Luxembourg	KRAFT FOODS INTERNATIONAL - USA
LUXCRAFT - UK	NESTLE - Switzerland
SEABORD OVERSEAS - USA	SOFTBUL INVESTMENT LTD - Cyprus
HELIAN COMMODITIES - Netherlands	TKM FRUIT AND JUICE - Greece
UNIBUL WINES - UK	VINPROM SERVICE KORK - Portugal
ZANKL - Austria
TRANSPORT
FRANZ WELZ - Austria	INTERLICHTER - Hungary
M + M MILITSER INTERNATIONAL - Switzerland	VAE - Austria
WILLI BETZ - Germany	ZEEVI HOLDING - Israel
TELECOMMUNICATIONS
CABLE AND WIRELESS - UK	EASTERN MARKET TELECOM
GLOBAL ONE HOLDING - Netherlands	INTRACOM - Greece
FUND LTD - Bahama
TOURISM & CATERING
AUTO RICAMBI SRL - Italy	CLASMAN ENTERPRISES - Cyprus
DAEWOO CORPORATION - Korea	HILTON INTERNATIONAL - USA
GOODYS - Greece	HUN-EX - Hungary
JOVANDA INTERNATIONAL Ltd. - USA	LOGICINVEST WATCHES Ltd. - UK
McDONALDS - USA	PRINCESS HOLDING GROUP - Turkey
VERIMARK MARKETING Ltd. - Cyprus	WORLD TRADE COMPANY - USA
TRADE
SHELL OVERSEAS HOLDINGS - UK	METRO - Germany
REGENT PACIFIC GROUP - UK	KLOCKNER & CO AG - Germany
OMV - Austria	G. FOGELSTETTER - Austria
ALEXANDER PAVLOVICH LYAH - Russia	KOMKO HOLDING - Switzerland
UKOS FINCONSULT - Cyprus	STAMBOULI ENTERPRISES - Cyprus
ROSNEFT - Russia	DTS - USA
ENA - Greece	HUGO PFOHE - Germany
INTERINVESTMENTS CORPORATION - USA	RAO GAZPROM - Russia


Romania's Revitalised Economic Engine - Accelerating - 120% growth in 2004 FDI from 2000-2005 > Hungary for same period Bulgaria high investment in Tourism infrastructure is succeeding.... in boosting significant tourism and property investment revenues.. Investment in both Bulgaria & Romania has exceeded critical levels to become independent of EU accession influenced by high investment by Multi-national companies settling on these markets....