Why Sofia is a good place for investments
 |
 |
 |
 |
Why Sofia is a good place for investments
The political will, the leadership of Sofia Municipality in the person of the city mayor and his team, and of the municipal council, are fully in favour of decisive reforms and the attraction of foreign investments.
Sofia Municipality has a comparatively good credit rating - better than that of the state.
The municipality owns property and enterprises, which it offers for privatization.
Sofia municipality has 115 companies, which work in different branches.
The total number of employed in municipal economy is about 30,000. The total amount of fixed assets (private municipal property) operating in municipal economy is more than US$600 million.
Speeding up the process of municipal privatization led to accumulating of some funds from selling of municipal enterprises. For their effective usage was created a Municipal Privatization Fund.
Sofia?s geographic location within Bulgaria is such that it favours investors, insofar as it is located on an international motorway - the motorway from Belgrade to Istanbul.
Sofia has a large potential of human resources - about one and a half million inhabitants and a significant number of new arrivals. On the other hand, this is where the country?s most qualified manpower is concentrated. It is indicative that the level of unemployment is comparatively higher in the capital. At the same time, manpower is not expensive. On the contrary, considering its high qualification it is relatively cheap.
The number of telephones in Sofia is large. City transport is relatively well organised compared to other towns and cities in the country. Road facilities are in good condition.
Investment, as well as any other form of economic activity on the territory of Sofia, is facilitated by the fact that respective programs have been adopted for the development of the urban infrastructure, the city environment, the restructuring of the municipal economy and the development of sectors with a direct bearing on the life of citizens. These are primarily transport, central heating, cleanness, water supply and sewerage.
Independence of the municipality is guaranteed by the economy of its budget. The budget is basis of implementation of all activities of the Sofia Municipality. The collection of revenues is a prerogative of Sofia tax administration which is subordinated to the Ministry of Finance.
The revenue side of the budget is formed by municipal revenues and state budget subsidies. Municipal revenues account for 85% of total revenues.
The municipal budget is balanced and the level of expenditures depends of the real revenues. The total decrease in incomes reflects in proportional decreasing in all municipal activities. The process has been very strong in the last two years.
The attraction of foreign investments is to a large extent also favoured by the fact that the municipality itself invests in the development of the urban infrastructure, underground and above-ground, whilst also relying on the fact that big foreign investors will invest means and efforts in its completion and modernization. In fact, a number of projects are currently underway.
Why Sofia is a good place for investments
Useful Links:
Sofia City Council - www.sofiacouncil.bg
Privatisation Agency Bulgaria - www.priv.government.bg
Sofia Commodity Exchange - www.online.bg/sce
Bulgarian Stock Exchange - www.bse-sofia.bg
President of Republic of Bulgaria - www.president.bg
Government of Republic of Bulgaria - www.government.bg
National Assembly of Republic of Bulgaria - www.parliament.bg
Bulgarian National Bank - www.bnb.bg
Bulgarian Posts - www.bgpost.bg
Bulgarian National Television - www.bnt.bg
Bulgarian Academy of Sciences - www.acad.bg
National Institute of Meteorology and Hydrology - http://weather.meteo.bg
Mountain Rescue Bulgaria - http://pss.bglink.net
www.european-capitals.org
More news:
The construction of warehouses is about to jump
The market opens for industrial parks
Industrial areas only going to grow
Ubbikaliya will do logistic center near Sofia airport
Sofia may become a logistic center
Logistical Fever
Real estate - Trends 2007
Equest managing partner in Kari Haataya: invest only in business areas secured by tenants
Invest 64 million euro in the first business park in Plovdiv
Funds for agricultural land have nearly 600 thousand decares
The new apartments in Bucharest with 25 percent less this year than originally forecast
Shops and offices built on 4 acres in Sofia
The new offices Sofia in 2008 will not meet demand
Housing near London poevtinyavat by 1000 pounds per minute
More investment in property transactions are expected in Bulgaria in 2008
Build residential complexes for 73 million BGL in Sofia
It is expected to fall in property transactions in 2008
Between 20 and 25 percent is the share of Bulgarians among the buyers real estate in Bulgaria
Invest 20 million euro in Mall Haskovo
British investors flee Bulgarian winter resorts
FairPlay Properties REIT
Luxury living
Spanish Riofisa presents its 270 million euro retail project CIVIS CENTER
Swiss Properties continues construction in Irakli despite ban
Pamporovo resort to invest 13M leva in ski lift
World Superstars Boost Sofia Property Prices
Spanish Riofisa presents its 270 million euro Civis Center
Bulgarian property sector to post even growth in 2008
Property Overseas: Cash in on Your Rental Potential
Bulgaria Residential Real Estate Prices Up by Nearly 30% y/y - NSI
Bulgaria Residential Property Prices up 18,6%
Hotel developments devour 9,200 ha of fields, forests
REIT FairPlay Properties to build balneological center in Sapareva Bania
Sofia co invests in hotel complex near Chernomorets
Investors may dial back mall development plans
Realtors: Bulgaria housing price growth to slow in '08
REIT FairPlay Properties to raise 22 mln levs in share sale
Revamped shopping center opens in Lovech
New ski run, lift to open in Borovets resort
Bulgarian co building solar energy park in Rhodope mountains
Germany s Neckermann opts out of Bulgarian sea resort Albena
Colliers: supply of holiday homes in Bulgaria significantly up
Developers to invest in 3 new Sofia business parks in Sofia
Bulgarian-Spanish co to build wind park in Varna area
Interservice Uzunovi, Miller to team up for retail park project
Developer Stock Plus to list on Bulgarian bourse
Chimimport, realty co's eye sale of region's biggest wholesale market
Bulgarian construction co Planex eyes Romanian expansion
Landmark business sold for 210 mln euro
Managers Buy Out Bulgarian Real Estate Firm
Latest offers:
For rent Maisonette in town Sofia - Centre 1250 EUR
For sale Apartments 2 Bedroom in town Sofia - Centre 143000 EUR
For sale Apartments 1 Bedroom in town Sofia - Ivan Vazov 102500 EUR
For sale Studio Apartments in town Sofia - Centre 97000 EUR
For sale Apartments 1 Bedroom in town Sofia - Centre 105000 EUR
For sale Apartments 2 Bedroom in town Sofia - Centre 390000 EUR
For sale Studio Apartments in town Sofia - Centre 133000 EUR
For rent Apartments 2 Bedroom in town Sofia - Centre 1250 EUR
For rent Maisonette in town Sofia - Centre 1250 EUR
For rent Apartments 1 Bedroom in town Sofia - Centre 720 EUR
For rent Apartments 1 Bedroom in town Sofia - Centre 720 EUR
For rent Maisonette in town Sofia - Centre 1500 EUR
For rent Apartments 2 Bedroom in town Sofia - Izgrev 1200 EUR
For rent Apartments 2 Bedroom in town Sofia - Centre 800 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 1200500 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 637500 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 953856 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 819819 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 675750 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 519156 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 354384 EUR
For sale Warehouse in town Sofia - Carigradsko Shosse 182187 EUR
For sale Apartments 1 Bedroom in town Sofia - Centre 123000 EUR
For sale Studio Apartments in town Sofia - Centre 80000 EUR
For sale Apartments 2 Bedroom in town Sofia - Centre 153500 EUR