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Greeks Go for Investments in Bulgaria, Hold 30 percent of Banking
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Greece is a leading investor in Bulgaria's banking sector, holding 25%-30% of the market, according to an article in the Greek daily newspaper To Vima, entitled "Greeks prefer investments in neighboring Bulgaria".
Greece is Bulgaria's second-biggest foreign investor after Austria and account for 10,2% of the foreign direct investments.
More than 1500 Greek companies have poured investments in Bulgaria, totaling EUR 1,8 M from 1992 till 2005, To Vima says.
The investments are funneled primarily in the food industry, banking, insurance, tourism and trade.
The article recalls that subsidiaries of major Greek companies have recently established the Council of Greek companies in Bulgaria in a bid to protect the interests of Greek companies and boost bilateral economic ties.
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