The political will, the leadership of Sofia Municipality in the person of the city mayor and his team, and of the municipal council, are fully in favour of decisive reforms and the attraction of foreign investments.
Sofia Municipality has a comparatively good credit rating - better than that of the state.
The municipality owns property and enterprises, which it offers for privatization.
Sofia municipality has 115 companies, which work in different branches.
The total number of employed in municipal economy is about 30,000. The total amount of fixed assets (private municipal property) operating in municipal economy is more than US$600 million.
Speeding up the process of municipal privatization led to accumulating of some funds from selling of municipal enterprises. For their effective usage was created a Municipal Privatization Fund.
Sofia?s geographic location within Bulgaria is such that it favours investors, insofar as it is located on an international motorway - the motorway from Belgrade to Istanbul.
Sofia has a large potential of human resources - about one and a half million inhabitants and a significant number of new arrivals. On the other hand, this is where the country?s most qualified manpower is concentrated. It is indicative that the level of unemployment is comparatively higher in the capital. At the same time, manpower is not expensive. On the contrary, considering its high qualification it is relatively cheap.
The number of telephones in Sofia is large. City transport is relatively well organised compared to other towns and cities in the country. Road facilities are in good condition.
Investment, as well as any other form of economic activity on the territory of Sofia, is facilitated by the fact that respective programs have been adopted for the development of the urban infrastructure, the city environment, the restructuring of the municipal economy and the development of sectors with a direct bearing on the life of citizens. These are primarily transport, central heating, cleanness, water supply and sewerage.
Independence of the municipality is guaranteed by the economy of its budget. The budget is basis of implementation of all activities of the Sofia Municipality. The collection of revenues is a prerogative of Sofia tax administration which is subordinated to the Ministry of Finance.
The revenue side of the budget is formed by municipal revenues and state budget subsidies. Municipal revenues account for 85% of total revenues.
The municipal budget is balanced and the level of expenditures depends of the real revenues. The total decrease in incomes reflects in proportional decreasing in all municipal activities. The process has been very strong in the last two years.
The attraction of foreign investments is to a large extent also favoured by the fact that the municipality itself invests in the development of the urban infrastructure, underground and above-ground, whilst also relying on the fact that big foreign investors will invest means and efforts in its completion and modernization. In fact, a number of projects are currently underway.
Why Sofia is a good place for investments
Useful Links:
Sofia City Council - www.sofiacouncil.bg
Privatisation Agency Bulgaria - www.priv.government.bg
Sofia Commodity Exchange - www.online.bg/sce
Bulgarian Stock Exchange - www.bse-sofia.bg
President of Republic of Bulgaria - www.president.bg
Government of Republic of Bulgaria - www.government.bg
National Assembly of Republic of Bulgaria - www.parliament.bg
Bulgarian National Bank - www.bnb.bg
Bulgarian Posts - www.bgpost.bg
Bulgarian National Television - www.bnt.bg
Bulgarian Academy of Sciences - www.acad.bg
National Institute of Meteorology and Hydrology - http://weather.meteo.bg
Mountain Rescue Bulgaria - http://pss.bglink.net
www.european-capitals.org
