BULGARIA AND INDONESIA Partnering for growth

MAKING IT POSSIBLE

• For making this visit possible I would like to express huge gratitude to Her
Excellency Mrs. Sri Astari Rasjid, Ambassador for the Republic of Bulgaria,
Republic of Albania and Republic of North Macedonia.
• Mr. Ardian Wicaksono, Director at Direktorat Eropa III at the Ministry of
Foreign Affairs of the Republic of Indonesia.
• Mr. Stamen Yanev, Executive Director of the Bulgarian Investment Agency.
• The staff of the economic affairs at the Embassy of Republic of Indonesia in
Sofia, Bulgaria.
PRESENTATION AGENDA & GOALS
• Provide background on Bulgaria as a country
• Present Bulgaria as business destination.
• Highlight interesting economy sectors.
• Focus on this visit.
BULGARIA
• Official Name: Republic of Bulgaria
• Area: 110,994 sq.km.
• Population: 7.4 million
• Capital: Sofia
• Time Zone: EET (UTC+2)
• Alphabet: Cyrillic (own invention)
• Official Language: Bulgarian
• Business Language: English
• Currency: BGN, fixed to EURO
• Member of: EU, NATO, WTO
• Destiny: Melting pot of cultures and religions situated on the
historical, geographical, cultural and business crossroad
between Europe and Asia.
INFRASTRUCTURE

AIRPORTS: Sofia, Varna, Burgas,

Plovdiv and Gorna Oryahovitsa
HIGHWAYS:
Sofia – Burgas
Sofia – Varna (in development)
Sofia – Svilengrand (Turkish Border)
Sofia – Petrich (in development,
Greek Border)
PORTS:
Black Sea – Varna and Burgas
Danube River – Lom, Ruse, Samovit,
Svishtov, Tutrakan, Silistra
RAILROAD: Linking major cities, ports
and border points
PUBLIC SERVICES AND COMMUNICATION
• Well established and developed system of city and coach transportation services
with prevailing automotive transportation.
• Most of public services are state-owned, divided following regional principles.
• Water supply and sewage concessions in place.
• Electricity transmission system is state-owned, where as the distribution grid is owned
by private companies. Energy market is legally liberalized.
• Centralized natural gas supply is not popular for households, but well established for
industrial consumers.
• Fully liberalized telecommunication market, which is significantly developed.
INVESTMENT DESTINATION
1. Ease of access to markets – EU, EFTA, Russia,
Turkey, Middle East
2. Flexible business relations and ease of
partnering
3. No capital and profit repatriation restrictions
4. Political and business stability
5. Competitive cost of doing business
6. Educated and skilled workforce
7. Government incentives
INVESTMENT INCENTIVES
• Investment classes – Priority: 50m Euro, 50-150 Jobs; Class A: 1-5m Euro, 25-100
Jobs; Class B: 0.5-2.5m Euro, 10-100 Jobs.
• All qualifying investments receive the following incentives – short-cut on
administrative terms, no tender requirements, financing for vocational training, social
security cash back.
• Individual services and financing of the technical infrastructure available to Class A
and Priority Class investments.
• Priority Class investments also get public-private partnerships, no taxation on
changing land status, buying public land on favorable prices and grants for R&D.
• Investors could obtain Bulgarian (EU) citizenship.
WORLD CLASS IT & GROWING MANIFACTURING
• 12,000 IT companies primarily exporting services across the globe. Established
players like HP, Financial Times and The World Bank have operation centers. Strong
start-up eco system and culture.
• Founder’s institute, which already has a chapter in Jakarta, but the first office
outside of Paulo Alto will be in Sofia in 2019.
• Webit Conference biggest in Central and Eastern Europe for IT professionals.
• Automotive sector with strong presence supporting virtually all major car
manufacturers.
• Big agricultural producer with export markets in Europe and Russia.
• Real estate and tourism are traditionally very strong.
BUSINESS CULTURE
• A strong move to less formal business dress code and relationships. Bulgarians are
very big on maintaining personal contact and face-to-face meetings are needed at
the beggining. Video calls or phone calls are bad ways to start business relationships.
• Punctuality is expected and initial meetings always have more formal format. It is
usual business meetings to be made over lunch or dinner. Smoking and drinking are
common, in business situation usually the preference of the guest is accommodated.
• People openly discuss topics such a politics, society and culture. Family matters are
usually not discussed.
• Most business people speak at least English and are very open to working with
foreigners.
• Use of communication applications like WhatsApp and Viber is huge.
EASY GOING AND OPEN LIFESTYLE
HOW INDONESIA IS ALREADY IN BULGARIA
• Copper ore from Indonesia comes to the biggest copper smelter on the Balkans
situated in Bulgaria.
• Palm oil makes to the table of almost every Bulgarian.
• Coffee and cocoa are being used on daily basis.
• Bali is considered exotic and desirable touristic destination, the word Bali is a brand.
• Trade balance (Euro million), according to Bulgarian Statistical Institute:
• Import from Indonesia 2018: 170.4 (2017: 47.5). Increase of + 259%.
• Export to Indonesia 2018: 19.2 (2017: 28.2). Decrease of – 32%
THE REASON FOR THE VISIT
• Indonesia despite the size of the country and its economy is virtually unknown as
business destination, which is a great opportunity.
• Bulgarian businesses already looking at the Indonesia market. Technical ingenuity,
quality and flexibility are key characteristics of leading Bulgarian businesses.
• 9,944 km between Sofia and Jakarta, but only 4 hours in time zone differences.
Business communication is possible.
• Bulgarian is easy entry point as a business destination, but also as gateway to the
rest of Europe. Traditionally excellent business routes with Turkey, Russia and ex-
Soviet republics.
• Respect and trust, fueled by the Indonesian embassy in Sofia.
• Start small and make it big. Looking for key opportunity to open the door for more.
COMPANIES: SCALE FOCUS
• Technology, R&D and Advanced Software Engineering providing services in Digital,
Data and Cloud.
• Presence in e-commerce, telecoms, insurance, financial and manufacturing.
• Offices in Bulgaria, London, Munich, Washington and Zurich. 750+ people.
• Fastest growing company in Europe, Computer Services (IBA) and 50+ awards.
• 200+ clients in 24 countries. 11 technological partnerships.
• Focus on consultancy and technology advisory driven by innovation and technology
advancements.
•Strong team in mobile solutions.
COMPANIES: BALLISTIC CELL
• Delivers complete business solutions in:
1. Education – organizational effectiveness, technology, e-content, professional
training.
2. Creative and technical assurance of events – multimedia content development,
technical assurance of 3D mapping events, design of audio and video systems.
3. Video surveillance – surveillance of shipyards; airports and bus stations; parking,
retail and sports events surveillance.
4. Intelligent transportation – real time passenger information system, automatic fare
collection system, on-board and cross-road video surveillance.
• Works on different levels with central and local governments.
COMPANIES: M+S HYDRAULICS
• Lead manufacturers of hydraulic motors and hydrostatic steering units established in 1963.
• Manufacturer of low-speed, high-torque, orbital, hydraulic motors, hydrostatic servo valves,
valves, brakes and accessories for them.
• Full range of low-speed hydraulic motors with a rotational height, which is widely used in the
agricultural industry, transport and machine-building, offering a working volume of 8 to 800
ccm.
• Hydraulic disc brakes mainly used in heavy-duty machines, wheeled machines, lifters, mining,
agricultural machinery, conveyors, garage doors, winches, etc.
• Hhydrostatic steering for use in low-speed vehicles up to 60 km / h with a working volume of
40 to 1000 ccm / rev and pressure up to 175 bar, for agricultural machinery, woodworking
machines, road rollers, cleaning machines, lifters, construction machinery and others.
COMPANIES: SPETEMA
• Biggest Bulgarian coffee brand importing from countries across the globe establishe
30 years ago.
• Production and packaging facilities located outside of Sofia with nation-wide
distribution network.
• Rising product category- sale of tea and organic products.
• Offering product range suitable for home consumption; products, machines and
service for offices; full range of machines, products and services, and branding for
retails locations; and maintaining vast network of vending machines.
• Extremely entrepreneurial and professional.
COMPANIES: BETA 12
• Nationwide distributor of FMCG established with 30 years of history.
• Providing:
1. Sales, brand management and logistical services.
2. Market development for brands.
• Main product categories – sweets, canned food, sauces, instant noodles, coffee and
tea, soft drinks, pet food.
• 2500+ customers, 2100+ items, 80+ suppliers.
• Working with supermarkets, mini-markets, convenience stores, gas stations and
regional distributors.
COMPANIES: PROVITI
• Focused on the generation and development of biotechnological innovations in the
area of nutrition and nutracueuticals.
• Develops products with biotechnological formula enhancing the cholesterol
absorption in the human body.
• Food supplements - (capsules) is a dry-freezed probiotic mix in cellulose capsules,
containing more than 4.5x109 CFUs of specially selected strains of Lactobacillus
bulgaricus, Streptococcus thermophilus and Lactobacillus acidophilus Proviti (CCM
8427). Along with the oligofructose contained in the premix, the cellulose capsules act
as a prebiotic making the combination a symbiotic.
• Functional food – (1) yoghurt with natural (sour) flavor fortified with probiotic mix;
(2) yoghurt drink with natural (sour) flavor fortified with probiotic mix; (3) Probiotic
Ice Cream.
COMPANIES: TANITA PHARM
• Pharmaceutical products distributor.
• Interested in all products, currently developing their well-being portfolio focus on
healthy products and weight-loss products.
• Significant experience in participation in public tenders.
• Looking for pharmaceutical accessories like rubber gloves.
COMPANIES: SOPHARMA
• Established player in the pharmaceutical industry since 1933.
• Engaged in the full circle of manufacturing of pharmaceutical products.
• Engaged in distribution of pharmaceutical products on the local market, EU and countries in
the former Soviet Union – Russia, Ukraine, Poland, Kazakhstan and others.
• Also offers - EU-GMP compliant pharmaceutical contract manufacturing, EU primary and
secondary packaging services for international markets, Technological transfer of customer-
developed products, and EU batch release and batch control.
• Specialized in manufacturing of solid and semi-solid dosage forms, sterile dosage forms, and
non-sterile liquids/solutions.
• More than 180 different products are produced by Sopharma’s pharmaceutical
manufacturing plants and distributed to 25+ countries for various international partners.
COMPANIES: BULGARIAN GOLF TOURS
• Investment opportunity in high-end luxury golf and real estate project near the
capital Sofia.
• Land plot of 565,500 sq.m. (56.5 hectares).
• 200 houses and various business facilities.
• 18 hole golf course to be developed by pro-golf star Miguel Angel Himenez.
• Opportunity to obtain investment incentives and for non-EU buyers to obtain
permanent residence and/or Bulgarian (EU) citizenship.
• Located 30 min away from the centre of Sofia.
COMPANIES: ROSA IMPEX
• Founded in 1991 and focused mainly on utilizing the production of Bulgarian rose oil
and its implication in various cosmetics products. The company has own production
facilities.
• The rose were introduced in Bulgaria hundreds of years ago.
• The Rose Oil is with perfect balanced substance of Omega 3 and Omega 6 essential
fatty acids and trans-retionc acid (a form of Vitamin A), which are responsible for
keeping the skin hydrated, firm and help it against aging process.
• Levander based products is another product line. Currently Bulgaria ranks as number
one producer of lavender in the world.
IN CONCLUSION
• Here to understand the challenges faced so far.
•We are open to explore all requests and information needs.
• Meet any business who would consider doing business with Bulgaria.

Dimana ada kemauan, di situ ada jalan.

Where there is a will, there is a way.

TERIMA KASIH!