Банкеръ Weekly

Briefs

BULGARIA ATTRACTS CHINESE INVESTMENTS IN ELECTRONICS

The Government will attract Chinese investments in the sphere of electronics and light industry, Deputy Premier and Minister of Economy Nikolai Vassilev said after his meeting with a Chinese dеlegation, headed by China's State Council Secretary General Zhongyu Wang. Representatives of the two countries admitted that bilateral economic relations were at a low level and according to Mr. Vassilev, were far from the two countries' potential.Bulgarian exports to China amount to USD9MN only. Chinese investments in Bulgaria are worth some USD250,000, and Bulgarian investments in China are nil. Our Government hopes these tendencies will reverse during the visit of a Chinese business delegation (including more than 30 companeis) to Bulgaria in July. We expect that they will show interest to invest in the electronics, milk products, tobacco and alcohol export, Mr. Vassilev said. Nikolai Vassilev explained that China Telecom had shown interest in the privatisation of the Bulgarian Telecommunications Company (BTC). He added that there was an opportunity that China Telecom be included in the second stage of the competition in a consortium.

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