Bulgaria’s Outsourcing Industry to Reach Turnover of over 2 bln levs in three years

Deputy Prime Minister Daniela Bobeva opened a Round Table for the development of the sector

Bulgarian outsourcing sector is expected to generat e a turnover of over 2 bln (€1 bln) in three years. This was the forecast of industry experts presented at t he first ever Round table dedicated to the development of the outsourcing industry and the par tnership between the public and private sector, which was held in Sofia.

The Forum was organized by the Bulgarian Outsourcin g Association and the largest international association in the field of finance and accounting services - Association of Chartered Certified Accountants (ACCA). Ms. Daniela Bobeva, Deputy Prim e Minister for Economic Development opened the Round Table. “I appreciate the importance of the ou tsourcing as a sector with expanding importance for the Bulgarian economy in recent years.

Although the government relies on the export of pro ducts with high added value and development of high-tech industries as drivers of economic growth, job creation in the services sector is of major importance, especially in a period of economic stag nation. Impressive is the fact that for the past fo ur years the revenue from outsourcing services in Bulg aria increased by 60% and the industry generates annual revenue of around half a billion Euros.

"The discussion on the role of outsourcing industr y to improve the business environment and economic growth attended Mr. Krasin Dimitrov - Deputy Minist er of Economy and Energy, Ms. Rositsa Yankova - Deputy Minister of Labour and Social Policy and the heads of major international and Bulgarian companies in the business process outsourcing secto r as Adecco Bulgaria, AII Data Processing, IBM Global Processes Services, Bulpros Consulting, Coca - Cola Hellenic Bulgaria, KPMG, C3i, Sofica Group - part of TeleTech, Sutherland, Telus, Ernst & Young Bulgaria, Unify Bulgaria and many others.

“The outsourcing sector is one of the fastest growi ng in Bulgaria, the number of people employed in it exceeds 20 000 and it could be increased to four ti mes at an appropriate business environment and if investors are encouraged in the sector. This requir es all stakeholders to prepare a strategy for the development of the industry and I believe that the discussion between government and business today is the first and very important step in this direction . ", said Mr. Stefan Bumov, Chairman of the Bulgari an Outsourcing Association.

As problem areas that need joint efforts to improve them were outlined: in education - development of qualified personnel for the industry; in social and labor market policy - potential negative effects o f increased insurance thresholds and facilitation of the opportunities to attract people from abroad to work in the sector in Bulgaria. Other topics that w ere discussed at the Round Table were trends in the sector in the region and in our country, the reputa tion of Bulgaria as an outsourcing destination and the contribution of the industry for the increase of yo uth employment.

About АССА ACCA

(Association of Chartered Certified Accountant s) is the global organization of professional accountants. The Association supports its 162,000 m embers and 428,000 students in 173 countries, helping them to develop successful careers in accou nting and business skills required by employers.

ACCA works through a network of over 89 offices and centers and more than 8,500 approved employers around the world, providing the highest standards o f training and development of employees. The organization promotes the appropriate regulation of accounting and conduct relevant research to guarantee that the reputation of accounting will co ntinue to improve and influence will grow.

More info: www.accaglobal.com

About Bulgarian Outsourcing Association

Bulgarian Outsourcing Association is an industry or ganization whose goal is to unite the interests of companies providing outsourcing services to enhance the competitiveness of the environment and create additional conditions for increasing foreign investment in the sector. Association covers all aspects of the outsourcing industry - companies pro viding services related to the management of business processes, services related to the managem ent of IT processes, management processes and international knowledge centers for shared services.