Банкеръ Weekly

Briefs

GERMAN COMPANIES MOVE PRODUCTION CENTRES TO BULGARIA

German companies are going to finance Bulgarian students who study in Bavarian technical universities, but are not going to employ them in Germany after their graduation. The companies intend to move part of their production to Bulgaria because of the qualified experts and the relatively cheaper labour force, as compared to that in the European Union. They will hire graduates from German universities on privileged terms. This was announced by professor Franz Koch from the Technical University in Munich. He is among the people who organize the Hi-Tech Days exhibition, to be held in the Sofia Business Park from May 16 to June 5. During the forum, Siemens AG and Euros GmbH will donate and install equipment in two training laboratories for production monitoring and management, located in the Sofia Technical University. The whole equipment costs EUR300,000.A few days ago KETEK GmbH signed an agreement with a laboratory of the Bulgarian Academy of Sciences for production of detectors which are to be installed in satellite antennas and medical equipment. Euros GmbH already opened a subsidiary in Plovdiv, professor Franz Koch told the BANKER weekly. The number of Bulgarian students who study in Germany is expected to decrease in the following years, while the number of those who study in the German faculties of the Sofia Technical University will probably grow. The students will get both Bulgarian and German graduate certificates. Siemens AG is planning to launch three EUR500 scholarships to Bulgarian graduates in the next school year, as well as three EUR1,000 scholarships to students applying for a doctor's degree, professor Koch specified. There are 2,000 Bulgarian students in universities in the province of Bavaria alone. The German Government pays EUR200MN for their education every year. According to Gerhard Schroeder Cabinet's new policy, foreign students who graduate in Germany should not be employed in the country, so that Germans would not be deprived of jobs. That's why Germany is not going to accept more Bulgarian computer experts who have been arriving in the country under the green card initiative in the past year and a half.

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