Financial and business news from Bulgaria

Bulgaria Could Become Europe's Factory for Protective Masks and Clothing

People rely on business to get their salaries and income, the Treasury relies on business taxes and that is what the state is supported, commented in the show “This Morning” on bTV the chairman of BIA Radosvet Radev.
All restaurants and establishments ended as a business, in a similar position of dormant bankruptcy is tourism, he noted.

“Bulgaria as a destination is cheap sea tourism, you can even remodulate the slogan for Bulgaria — not as at sea, but as a medical institution. It turns out that after such pandemics, the human body experiences vitamin D deficiency, and the Bulgarian Black Sea coast can produce it in abundance and may prove to be a medical institution for the whole of Europe, “according to the BIA President.

According to him, in the second group there are live companies that are cooperated deliveries. They produce, for example, automotive elements that need to be assembled in Germany, the Czech Republic or somewhere else.

“These companies also have to hit one shoulder to finish their things — there the money will come, the goods will come out, but it can be delayed in time. They are the most cautious in cutting people because they need it, “Radosvet Radev noted.

“The third group is surprising, to it I can point out this boom in the production of protective clothing and masks. The low-value added industry is currently launching upwards because a readjustment of standard production processes occurred in a week. Bulgaria will become Europe's factory for these things. The same thing happens in pharmacy. Bulgaria has some of the most serious production facilities “, according to Radosvet Radev.

According to him, the state will not do the work of the business, but there must be clearly defined rules.

The Internet industry also has an incredible boom because 7 million people are in house arrest, Radev commented.

“Very complex is the assessment of this picture — where and what is destroyed and what is suddenly born for a new life”, noted the President of BIA.