Coface Bulgaria was special guest on the National Council of the Bulgarian Industrial Capital Association
Coface Bulgaria participated in the National Council of the Bulgarian Industrial Capital Association at the invitation of Mr. Vasil Velev, Chairman of the Association and Chief Executive Office of “Stara Planina Hold” JSC.
Bulgarian Industrial Capital Association (BICA) was founded in 1996 and is the most dynamically developed national organization of the Bulgarian business. Its members include more than 50 holding and investment companies, 80 branch chambers, over 7000 industrial enterprises providing employment to over 400,000 people. BICA has a network of regional chambers covering 130 municipalities.
The gathering was held on the 15 of February 2016 in “Best Western City Hotel” in Sofia. Milena Videnova, Country Manager of Coface Bulgaria presented a lecture on the topic “Innovative solutions for credit risk management” in front of the members of the association and representatives of different chambers.
The meeting was opened with the prediction that government spending in the Bulgaria will increase, which will lead to the fact that deficit would not shrink but rather go up. Last year the country lost one of its main advantages - after the increase of the minimum insurance income and the minimum wage. However the main topic discussed at the meeting was the one related to the education. Education is one area that is under-funded. This sphere is highly inefficient. The problems are going deep. The lack of human resources and staff comes to the fore as restraining factor. Other problems that had been identified were corruption and the lack of legal certainty.
BICA has become a spokesman of the real production sector. The association protects the interests of its members before the executive and legislative authorities at national and European level, affects the development of the legal framework and the policies in the economic sector, working systematically to enhance the competitiveness of Bulgarian enterprises, to create a favorable business environment and to stimulate the Bulgarian economy as a whole.
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