The President: The opening of a factory of a Chinese company for electric car parts is a clear positive signal for the development of bilateral economic relations with China

The opening of a plant of a Chinese company for the production of parts for electric vehicles and its subsequent expansion were discussed at a meeting at the presidential institution today by the head of state Rumen Radev and the general manager of Shanghai Unison Aluminum Products Luo Shibing. The project in Bulgaria is implemented through the subsidiary company - "ZIES Europe", and the Chinese investor is ready to start the production of aluminum chassis and battery boxes for electric cars on the territory of the "Thrace Economic Zone" near Plovdiv by the end of 2024. The plant is expected to create between 150 and 200 jobs.

At the meeting, President Radev was informed about the investment intentions of the Chinese company, and according to Luo Shibing, by the end of the calendar year, the first phase of the plan to establish a production base in Bulgaria will be completed, and in 2025, the expansion of production with a second and the third phase, thus the total investment in Bulgaria will exceed BGN 300 million. Rumen Radev welcomed the intentions to increase the presence of Chinese business in our country and emphasized the excellent macroeconomic and geostrategic conditions that our country offers for the establishment of foreign companies here. The head of state recalled that during his visit to China in 2019, a declaration of strategic partnership with the PRC was signed at the highest level, and the opening of a plant by a Chinese investor is a clear positive signal for the development of bilateral economic relations.

Rumen Radev also highlighted the significant potential for development of investment cooperation between Bulgaria and China. According to the president, the opening of a direct airline between Beijing and Sofia will further promote communication between business, economic exchange and tourism.