12 Jan 2023
The Municipality of Stara Zagora and the Bulgarian Stock Exchange have signed a Cooperation Agreement and will now actively cooperate in attracting potential investors to the region, as well as working to support companies interested in listing on the BSE markets. This is the first such agreement of the Exchange with a municipality in Bulgaria.
"We are happy to announce our partnership with the BSE and to start working together on the planned initiatives, which will undoubtedly benefit businesses in Stara Zagora. I believe that Stara Zagora will take its deserved pioneering place as a preferred investment destination in Bulgaria," stated Zhivko Todorov, Mayor of Stara Zagora. "At the moment, we have an almost fully occupied modern industrial zone - "Zagore", we are actively working on the acquisition of the airport land, because we need large prospective areas with which to meet the needs of investors. Stara Zagora has undeniable advantages, not only because our geographical location is favorable. We have low levels of basic taxes and fees - 1.45 per mille is paid for building tax, for comparison in Burgas - 1.75, and in Stolichna Municipality - 1.875. Citizens also owe a smaller garbage fee - from 0.4 to 4 percent, and for businesses, our levels are the most profitable, because the pen is large, and the saved funds can be used for other purposes. This is our support - real and working. We also keep low levels of taxes for remunerative acquisition of property and those for donations. Our city transport also has competitive prices and a number of reliefs for people", Mayor Todorov added.
"In the person of "Bulgarian stock exchange", the municipality of Stara Zagora has a reliable partner in our shared mission to develop the capital markets in Bulgaria and to promote the opportunities provided by stock exchange financing among companies from the city and the region. This partnership is an important step towards the implementation of a number of educational and practical initiatives that will help investors from all over Bulgaria learn more about promising companies from Stara Zagora. We also open a direct channel of communication for companies looking for financing with representatives of the BSE, where the various possibilities for raising capital can be freely discussed," said Prof. Dr. Manyu Moravenov, executive director of the BSE.
From his words, it became clear that Stara Zagora was not chosen as a pilot municipality by chance. The indicators that the business monitors here are extremely good, as it has overtaken even Burgas in terms of GDP growth.
As part of the agreement, the Bulgarian stock exchange and the Municipality of Stara Zagora plan to organize and conduct joint specialized trainings, round tables, conferences and other events this year, according to the needs of practice. At the end of the event, the mayor Zhivko Todorov received a symbolic gift from Prof. Moravenov - a stock with antique value from 1911.
