• Foreign Direct Investment in Varna was estimated at €1.5 bn for 2007 and is expected to have reached €2.7 bn in 2008.
• Fraport Group from Germany has entered a 35-year concession agreement for €400 mn to upgrade the terminals of Burgas and Varna international Airports. In addition, there are direct flights from the UK, Ukraine, Hungary and Austria to Varna. In the summertime there are scheduled flights to Varna Airport from 80 European cities.
• EON, a German energy Group, has acquired 2 electricity distributors and their headquarters are currently located in Varna’s new Business Park.
• The Bulgarian Shipping Consortium, Navibulgar, was sold to KG Maritime, a German company, for €225 mn.
• The headquarters of Piccadilly supermarkets are located in Varna. Piccadilly was acquired by Maxi-Delta, the largest business group in Serbia, for €100 mn.
• By 2010, four new multi-floor shopping malls will be built in Varna. They will be operated by large foreign consortia.
• According to the new Town Plan of Varna, a project approved for the widening and deepening of the Canal linking the Commercial Port with a lake to the West of Varna will be financed by a Japanese Bank, at a total of €400 mn.
• The same Town Plan provides for the conversion of the existing Varna Port facilities into a marina, and the construction of four additional marinas, one of which will be built on land owned by Eurolink Investment Group.
• Well-developed communications network and information environment.
• Well-developed network of financial and credit institutions for the support of small and medium-sized businesses.