Current News

Current News

GERMAN COMPANIES MOVE PRODUCTION CENTRES TO BULGARIA

GERMAN COMPANIES MOVE PRODUCTION CENTRES TO BULGARIA

6/20/2003 12:00:00 AM

German companies are going to finance Bulgarian students who study in Bavarian technical universities, but are not going to employ them in Germany after their graduation. The companies intend to move part of their production to Bulgaria because of the qualified experts and the relatively cheaper labour force, as compared to that in the European Union. They will hire graduates from German universities on privileged terms. This was announced by professor Franz Koch from the Technical University in Munich. He is among the people who organized the Hi-Tech Days exhibition from May 16 to June 5 in Sofia.
 
"KETEK GmbH signed an agreement with a laboratory of the Bulgarian Academy of Sciences for production of detectors which are to be installed in satellite antennas and medical equipment. Euros GmbH already opened a subsidiary in Plovdiv", professor Franz Koch told the BANKER weekly. The number of Bulgarian students who study in Germany is expected to decrease in the following years, while the number of those who study in the German faculties of the Sofia Technical University will probably grow. The students will get both Bulgarian and German graduate certificates.
 
According to Gerhard Schroeder Cabinet's new policy, foreign students who graduate in Germany should not be employed in the country, so that Germans would not be deprived of jobs. That's why Germany is not going to accept more Bulgarian computer experts who have been arriving in the country under the "green card" initiative in the past year and a half.

By Courtesy of BANKER news

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