Romania and Bulgaria are on the way of economical recovery with different speeds according to the most actual research of Unicredit Group. Backbone for the economies in both countries are the infrastructure investments funded by the EU.
Finpro and Tekes have analyzed in a common study the success factors of participation in infrastructure projects for Finnish companies in those two countries. Especially the project “Super Bourgas” in Bulgaria could open up a lot of opportunities for Finland’s construction industry.
Romania and Bulgaria – the newest member states of the European Union – had an exceptional development before 2009 and are now on the way to recover. Italien/Austrian based Unicredit Group with strong foothold in Eastern Europe has recently (January 2010) published their economic forecast for the whole Eastern European region. There they see Romania with an expected GDP growth of 0,4% this year and 3,5% in 2011. Bulgaria’s development is more moderate with -1,5% (2010) and 1,7% (2011) according to the research.
The construction industry was and still is one of the engines of economic growth in both countries. Whereas the building construction (especially the commercial and industrial construction) still doesn’t see light at the end of the tunnel, is the construction of infrastructure more than alive. EU funds are supporting the different projects and there are heavy investments needed to reach the European standards.
Finpro has analyzed in a common study with Tekes, how infrastructure projects in the field of roads and railways and airports and harbours are carried out in Romania and Bulgaria and what Finnish companies have to do in case they would like to participate at such infrastructure projects.
To bring the results to the point: there are still a lot of projects, where Finnish companies could participate – and that beginning from architecture/engineering to construction up to technology supply. But entering the market or coming to the projects is quite different, as the business logic of the projects are – because of financing with public private partnership models (PPP) – not common to Finnish industry.
One of the most interesting projects for Finland could be the city development of Bourgas (Bulgaria) – know as “Super Bourgas”. As the old port will be relocated, there is now the possibility to develop the space of 600.000 m² and open the city towards the sea. Furthermore a transportation hub has to be planned and the whole “hinterland” logistically organized for the new port.
The results of the Finpro/Tekes study and the overview of the development plan of “Super Bourgas” was presented at the morning seminar January 19.
For further information, please contact:
Matti Niemelä, Finpro Romania, puh. +40 728 971 453, matti.niemela(a)finpro.fi
Santeri Maunumäki, Finpro Bulgaria, puh. +43 676 644 8221, santeri.maunumaki(a)finpro.fi