Home News High investment interest in Trakia Economic Zone

High investment interest in Trakia Economic Zone

COVID has created good conditions for the development of a certain types of industries in Bulgaria. These industries are expanding their production and the change with regards to shortening of the supply chain has helped companies decide to position themselves in the Trakia Economic Zone (TEZ) – because it brings them closer to the investors they work for. Eng. Plamen Panchev, CEO of TEZ, shared for Bloomberg.

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According to him, this is happening, despite the delay in decision-making due to the crisis. Among the significant new investments in recent times is the collaboration between Maxcom and KTM, Milara’s electric trucks, and the prospect of opening a battery plant for electric vehicles is much more realistic now.

Argentina is looking at TEZ and is interested in building its fifth logistics hub in Bulgaria, with the other four in China, the United States, Dubai and the Netherlands. According to Panchev, this is happening thanks to the good cooperation of the economic zone with the Argentine ambassador over the years.

“We exchanged information between Bulgarian and Argentine companies. There was obvious interest. The more active party were the Bulgarian companies and Bulgaria showed that it has the potential to use such a hub as well, and if built, to distribute Bulgarian goods and products to Argentina and beyond. ”

The companies that show interest are manufacturing. For example, in the field of medical equipment and electromobility.

“You can see that Plovdiv has already began establishing itself as one of the centers of Europe for the production of electric bicycles and small electric trucks. We see this as an opportunity to sell such products in Argentina.”

Logistics is also an industry that is developing quite rapidly in Trakia Economic Zone.

“Here operate some of the largest carriers in Bulgaria. We also stand very well on the map of Europe in the field of road transport. We see that these types of companies are investing in carbon neutrality. Rail transport is also becoming a preferred means of transportation.”

TEZ also has even more ambitious plans for carbon neutrality. It is envisaged that in 2025 45% of the energy used in the area will be from renewable sources, in 2030 60%, and full neutrality will be achieved in 2040. Smarter use of water resources is also a prominent topic for them . This attracts investors not only from the EU, says Panchev. He gives the example of a Turkish company that he believes will choose TEZ precisely because of the possibility for their products to come out with a carbon neutrality stamp. Turkey is definitely one of the non-EU countries that show interest and the region will present its project for carbon-neutral industrial parks at an exhibition in Istanbul.

“The desire of companies to use green energy convinces me that we are on the right track.”

Source: Bloomberg TV Bulgaria
Photo: TEZ