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The President of the European Investment Bank Werner Hoyer has given a high appraisal of the business and investment climate in Bulgaria. At a meeting with the Bulgarian Prime Minister Boyko Borissov, Hoyer discussed the priorities of the EIB for economic growth and employment as well as the ways of a better collaboration between the European Investment Bank and Bulgaria. So far, this bank has invested some EUR 3.3 billion in Bulgaria. Some EUR 1 billion was invested in the private sector. At present the bank is co-financing the implementation of some major project. These are: the reconstruction of the railway roads between the towns of Plovdiv and Svilengrad, the construction of the second bride over Danube, the integrated waste management system of the municipality of Sofia, etc.

Production of electric vehicles could become an engine of the Bulgarian economy, expert Ilia Levkov said during a conference of the Bulgarian Industrial Association. It is expected that by 2025 at least 200,000 electric cars would be driven on Bulgarian roads. Experts say that converting conventional cars into electric ones will also become a hit on the market. In other EU countries half of the vehicles will be electric by that time.This is a high-value-added industry but electric cars are still expensive. People remember that mobile phones also used to be expensive, Mr. Levkov says and adds that developing this industry would have a positive impact on the Bulgarian economy. Here is more from him:

Bulgaria's car-packed capital Sofia has set an EU example in the fight against greenhouse gas emissions by installing its first state-of-the-art solar-powered charger for electric cars, the project's managers said Wednesday. "Electricity production can be polluting so we thought we would build this photovoltaic station and charge electric cars with green energy from the sun," engineer Rosen Malchev told AFP. Sofia's solar station was cited by the European Commission earlier this month as one of a handful of success stories in Europe's fight against climate change.

Representatives of leading Chinese media outlets and an expert from Qatar Airways will take a trip around the country organized by Bulgaria's Ministry of Economy, Energy, and Tourism (MIET) on November 21-26. During the trip, the guests will have the opportunity to get acquainted with Bulgarian culture, wine, and cuisine, and visit exciting trails in Sofia, Plovdiv, Kazanlak, Veliko Tarnovo, etc. MIET will present examples of Bulgaria's unique cultural heritage and ancient history, opportunities for SPA and wellness tourism, natural wonders, and other sights. According to the press office of Bulgaria's Ministry of Economy, Energy, and Tourism, Chinese tourists are among the most active tourists in the world.

Bulgaria’s economic recovery kept its pace in the third quarter as rising domestic demand offset a decline in exports to the European Union because of the euro- area’s debt crisis. Gross domestic product rose 0.5 percent from a year earlier, the same increase as in the previous three months, the Sofia-based Statistics Institute said today in a preliminary estimate. Seasonally adjusted GDP advanced 0.1 percent from the previous quarter. Bulgaria’s stable domestic economic environment and solid public finances are supporting consumer confidence and boosting domestic demand and investment in public projects, the European Commission said in a report on Nov. 7. The commission, the EU’s executive arm in Brussels, raised its economic growth forecast for Bulgaria on Nov. 7 to 0.8 percent this year from a May estimate of 0.5 percent citing lower lending rates, which will support “a modest growth in credit” and consumption.