Банкеръ Weekly

Briefs

GERMAN BUSINESS LESS SATISFIED WITH LABOUR FORCE IN BULGARIA

The quality of Bulgarian labour force has decreased, a poll among members of the German-Bulgarian Industrial and Commercial Chamber (GBICC) shows. There are about 350, including Bulgarian and German enterprises, as well as joint ventures, operating on Bulgaria's territory. In 2005 the companies were comparatively satisfied with the qualification of their employees, evaluating them by 2.7 according to a five-grade system with 1 as the highest grade. In 2006, however, they were evaluated 3.4, and some firms complained they couldn't find even unqualified workers. According to the German business in Bulgaria, our country should undertake urgent measures in combating corruption. That indicator has been assessed as unsatisfactory by GBICC, with 4.3 grade. The spheres where reforms are needed are infrastructure and efficiency of government ruling.
Despite of the problems 56% of the companies within the GBICC are ready to raise their investments as compared to 2005. Another 28% are willing to maintain the 2005 level. Almost two thirds of the companies expect higher turnovers this year and another 30% are optimistic that their sales will remain at the same level. The most important factor for German business in Bulgaria is Bulgaria's future EU-accession.
The turnover of goods between Germany and Bulgaria in 2005 is estimated at the record high EUR2.9BN in bilateral relations. Imports of goods and services from the Federal Republic of Germany was worth EUR2BN, marking a 18% growth, and Bulgarian exports to that country totalled EUR0.9BN, marking a 13.8% growth.

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