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Automotive Industry  Proximity to existing and new productions facilities of OEM and Tier 1 companies  Traditions and expertise in the industry, two major subsectors – electronics and metal casting  Attractive operational and start-up costs

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Automotive industry l.jpg
Automotive Industry

 Proximity to existing and new productions facilities of OEM and Tier 1 companies

 Traditions and expertise in the industry, two major subsectors – electronics and metal casting

 Attractive operational and start-up costs

 Availability of inputs at competitive prices

 Low risk


Automotiveparts production locations l.jpg

Fasteners

Car tyres

Castings, wheel covers

Pistons, piston rings

Car radiators, filters andbatteries

Batteries,car accessories

Wheel covers,non-ferrousmetal castings

Cogged wheels, castings

Forgings,chassis

Engines

Cogged wheels, car seats

Steering mechanisms

Driving axles, forgings, cogged wheels

Steel, tyres, rubber products, electronicscogged wheels

Castings

Forgings

Generators,starters,auto bulbs

Cast-iron castings

Section steel

Section steel

Bearings

Forgings

Batteries

Fasteners,electronics

Automotiveparts Production Locations


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Credit Rating of Bulgaria Bulgaria has proven higher investment credibility

BBВ- (stable outlook)by Standard&Poor’s;

BBВ- (stable outlook)by Fitch IBCA;

Bа1(stable outlook)by Moody’s;

BBВ-(positive outlook)bythe Japan Credit Rating Agency

June 2004 Standard&Poor’s gave an investment-grade foreign-currency rating


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Tax Reform – Budget 2005

Corporate tax: 15%

Incometax rate: min - 10%; max - 24%

Increasing the amortization normfornewplant and equipment: 50%

Expenditure on research and development of the companies are not subjects to taxation

Tax Preferences:

establishing new enterprise

expanding of an enterprise

increasing the average number of employees


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Investment Categories

Third category – universal measures (Euro 5-25mln.)

Submission of information, prepared and processed in advance;

 Certificate, specifying the investment category and the type of administrative services, provided by the central and local executive authorities;

 Minimum deadlines.

Second investment category (Euro 25- 50mln.)

 Individual administrative services;

 Individual information services;

 Institutional support.

First investment category (aboveEuro 50mln.)

 Universal measures;

Institutional support;

State aid for developing the necessary elements of technical infrastructure.


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Requirements to investors

Establishing a new enterprise, expanding or modernizing an existing one

 Term of project implementation – up to 3 years

 Creating new jobs

 Economic efficiency


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Investment incentives in Bulgaria

15% corporate income tax in 2005

0% corporate tax in areas with above average unemployment

Depreciation rates – 2 years for computers and related equipment and 3 1/3 years for manufacturing equipment

2-year VAT exemption for imports of equipment, consumables and components related to investment projects valued over € 5 million

0% capital gains tax

The highest bracket for personal income tax is only 29% for monthly income over € 300

The Employment Agency’s Programmes and measures for employment of young people


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Innovation Strategy measures for stimulating innovative and research potential

  • Stimuls for research, related to industry and the co-operation among R&D units, universities and business;

  •  Improvement of the innovations funding, evolving mechanisms for attracting private equity/capital;

  • encouraging implementation of new technologies;

  • support for the establishment of clusters in sectors, traditional for our country;

  • support for newly established companies and firms that develop successfully in view of enhancing their innovative potential;

  • creating mechanisms for attracting foreign investment in the spheres of science and technology.


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