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EMO Hannover Blog

EMO World Tour: Stopover Bulgaria

April 2017
11
Author: Theodora Laser (Press and public relations)
Company: Verein Deutscher Werkzeugmaschinenfabriken e.V.
EMO World Tour: Stopover Bulgaria

During their trip around the world, the team of the EMO World Tour makes an stopover in the Bulgarian capital Sofia. With about 1.2 million people, Sofia is the most populous city in Bulgaria. It is the economic, political and cultural center of the country. Here, Christoph Miller, head of the trade fair department at the German Machine Tool Builders’ Association (VDW) presented the topics and trends of the EMO Hannover 2017 to an interested audience of journalists and experts. He was supported by Hartwig von Saß, press officer of Deutsche Messe AG and Vladimir Atanasov, general manager of "10x Ltd.".

Bulgarian economy is developing favorably
The Bulgarian economy is on the right track, although the momentum in the current year is declining slightly. For 2017, the EU Commission forecasts an economic growth of 2.9 percent after increases of 3.6 and 3.1 percent in the two previous years 2015/2016. Gross fixed investment is expected to rise by 3.2 percent in 2017. The increase is primarily driven by equipment investments in the production of metal products. There is a lot of catching up to do in mechanical engineering. Automobile suppliers, whose activities are increasing due to low labor costs and geographic proximity to car manufacturers in Central and South Eastern Europe, play an important role. For example, a number of companies are expanding their production in Bulgaria, while others, including German firms, are expanding. The Bulgarian government is trying to locate a car manufacturer in the country. However, in the medium-term, specialists are missing. Experts warn of a serious shortage.

In 2016 German exports to Bulgaria amounted to approx. 30 million euros. This means an increase of 14 percent. Mostly Laser machines and machining centers were delivered. German technology is particularly preferred by international producers in Bulgaria.

 

Photo: VDW

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