Fandakova: "Any investment, if not targeted at people, would not be successful"

"Projects should be aimed at the people and the development of the city," said Sofia Mayor Yordanka Fandakova at the opening of a conference on investment projects BalRec with the responsible investors who work in the interest of the city and the people and share the vision for development of Sofia as a green and innovative city. "Any investment, if not targeted at people, would not be successful. I welcome the projects that offer a comprehensive approach to the urban environment, creating opportunities for recreation, sports, education, irrespective of whether they are office or logistics areas", said Sofia Mayor Yordanka Fandakova at the opening of the BalRec investment project conference.

The mayor also said that "Sofia has its rightful place in the country and an increasingly better position on a European scale. In the recent years, Sofia attracts more foreign investors.” Data (of the Institute for Market Economics) indicate that Sofia has attracted 54% of the investments in Bulgaria and produces 40% of the country's GDP. In the recent years, the IT sector has the biggest growth in the economy of the city. Foreign investments in this sector reach EUR 216 million in 2015 or 2% of all investments in Sofia.

"Sofia Municipality is also one of the biggest contracting authorities. With clear priorities and hard work, with the attraction of European funding, which for the previous period is about BGN 3 billion, we have boosted the rapid development of Sofia. We are demanding of the investors` work.", also said the Mayor of Sofia Municipality. "We continue with the renovation of the urban infrastructure and this year we are investing in improving the urban environment.”

Young architects from Bulgaria and France propose renovation of a historical neighbourhood in the Vazrazhdane district with a modernized school and a new educational cultural centre.