site.btaEconomy Minister Bogdanov: Bulgaria Can Become Regional Centre For Development in Automotive Sector

The German company SULZER is initially investing EUR 1.5 million in a software development center in Sofia, gradually creating nearly 100 new jobs for highly qualified IT specialists in Bulgaria. This became clear during a meeting of Minister of Economy and Industry Bogdan Bogdanov with the CEO of the German automotive software firm SULZER GmbH Dr. Michael Kraus at the ministry, the ministry's press office said on Thursday. The company's clients include car manufacturers BMW, AUDI, DAIMLER, MAN, Porsche, Rolls Royce, SEAT, VW, Skoda.

Bogdanov stressed that the automotive sector is a priority for Bulgaria as it brings a lot of added value. He pointed out that more and more investors from the industry are interested in opening R&D centers in Bulgaria. "Software development in the automotive industry is important for Bulgaria, and our country has all the prerequisites to become a regional center for the development of companies in the sector," he said.

The Minister pointed out that the automotive industry in Bulgaria is one of the fastest growing, having generated over 10% of GDP in 2022 alone and employing 75,000 people. According to him, only 10 years ago it accounted for only 1% of GDP and employed fewer than 9,000 people.

A topic of discussion during the meeting was the company's plans for development in Bulgaria, with Kraus pointing out that the investment in Bulgaria was part of the company's policy of nearshoring in a quest to cut supply chains. Minister Bogdanov said that Bulgaria has talented engineers and sufficient expertise, pointing out that sustainable business development can be achieved in the country, as well as synergies and partnerships in the automotive sector, where an excellent ecosystem is already in place.

SULZER GmbH was founded in 1978 and has been successfully working with customers in the automotive industry as well as in the engineering and insurance sectors.