China's investment in Bulgaria grows fourfold in 2011

SOFIA - China's investment in Bulgaria grew fourfold in 2011, the Chinese Ambassador to Bulgaria Guo Yezhou said on Monday.

Guo made the remarks at a scientific conference on China's development, jointly organized by the Federation of Bulgarian-Chinese Friendship and the Bulgarian Anti-Fascist Union.

"Until the beginning of 2011, Chinese investment in Bulgaria was $16 million, while at the end of 2011 it reached $70 million," Guo said.

Currently, Chinese investment in Bulgaria is concentrated in the areas of agriculture, automotive, renewable energy and environmental protection, he added.

The Chinese embassy in Sofia has promptly informed Chinese investors about foreign investment opportunities in eight main fields in Bulgaria such as IT, infrastructure and pharmaceutical industries, Guo said.

However, the ambassador added it was up to the investors to decide in which areas they wished to invest.

Last year, Bulgaria's exports to China increased by 42 percent compared to 2010, while during the first two months of 2012 it rose by 100 percent year-on-year.

"Of course, China also increased its exports to Bulgaria, and this is the result of a mutually beneficial cooperation," Guo said.