Bulgaria Invites Foreign Investment For Textile Industry Development

After the Communist rule, Bulgaria almost slowed down the development of economy and trade, resulting in the underdevelopment of Bulgaria's industry and manufacturing industry.

Although Bulgaria joined the Europe Union (EU) in 2007 and received a large amount of EU money aid, many public and pport developments springing up, but it was still unable to assist the Bulgarian manufacturing industry in leaps and bounds. In addition, Bulgaria was only a small population with a population of 7 million 400 thousand, and its purchasing power was low. Therefore, it was a typical industrial developing country and the most suitable labor intensive textile industry.

In recent years, Bulgaria textile and apparel industry has become the most competitive industry with very strong investment and export potential.

It can be said to be the first export textile and apparel products in Eastern Europe to the United States.

In 2011 Bulgaria exports clothing and apparel products for women's clothing (HS Code 6204) to Taiwan, amounting to $1 million 261 thousand and 51, up 61.05% from last year's 782 thousand and 998 dollars.

Bulgaria

It can help create a large number of job opportunities and, of course, help to solve the high unemployment rate in Bulgaria (Bulgaria's unemployment rate reached 11.2% in 2011).

Based on the above, Bulgaria textile industry can be said to be favored by foreign investors, and it also guides Bulgaria textile industry to enter the global market.

Other advantages of Bulgaria textile and apparel industry are:

1. Excellent and long experience in manufacturing technology for textile and apparel industry;

Two, textile and apparel products are of high quality and competitive price.

Three, low wages: the average salary is about 200-250 euros per month.

Four, the introduction of foreign investors and technology, the main foreign investors in order to Greece, Italy and Germany, Bulgaria textile and apparel industry continue to enhance professional manufacturing technology, product manufacturing is already very familiar with, not only capable of generation.

OEM, and can produce export by itself.

Five, Bulgaria textile apparel market turnover average annual growth rate of about 15-20%.

Bulgaria is cheap, and its price level is lower than that of other Eastern European countries.