The number of employees in the Automotive industry exceeds 50 thousand

The number of employees in the automotive industry continues to increase, now exceeding 50 thousand. The total revenue in 2017 generated by this sector is nearly EUR 2.5 billion  and represents 5% of Bulgaria’s GDP. This was stated by the Deputy Minister of Economy, Lachezar Borissov, at the International Conference “Automotive Forum Sofia 2018”, organized by Automotive Cluster Bulgaria.

Deputy Minister Borissov noted that currently more than 170 companies producing components and systems for the leading international automotive brands are operating in Bulgaria. “Over the past month, two companies in the automotive sector have announced investments of over BGN 100 million and are expected to have more than 3000 workplaces opened in regions with high unemployment levels,” he said.

The Deputy Minister of Economy also said that for the period starting from 2005 until now thirty-one certificates in the automotive industry have been issued under the Investment Promotion Act. Twenty-six of them are for class A, three for class B, and two for priority investment projects. “The total amount of the investments is over BGN 1 billion, and the generated employment is 14 209 new workplaces”, Borissov explained.

“In recent years, the automotive sector in Bulgaria has marked a significant upturn and is subject to an enhanced interest by potential new investors and suppliers of vehicle components”, Borissov said. In his words, it could be explicitly stated that Bulgaria has its place on the international map of the automotive industry with established traditions and developed basic infrastructure, appropriate for the needs of the manufacturing industry.