“Romania indeed developed faster in the region, and the Republic of Moldova is five-eight years behind Romania, on the market. The order would be Romania, Bulgaria, and the Republic of Moldova. But Bulgaria is much more attractive for investments from our point of view, because there the cost of the workforce is lower than in Romania. Bulgaria has more highways than Romania, and electricity distribution is 100 percent privatized,” Peter Simon told the NewsIn agency.
ABB has three production units in Bulgaria, and its most recent $20 million (some €13 mln) investment is a component factory for electric cells, whose construction was initiated last year and which is already operational.
“To date, ABB has reinvested its profit in Romania, but we do not yet know if we will continue to do so next year. So far, we invested and we will continue to invest mainly in know-how, in training the 100 employees, and in raising the efficiency of internal processes. But we do not plan to build production units in Romania for the time being,” said Simon.
