NEWS

 

Bulgaria is increasingly visible on the German investment map and ever more attractive to German companies, many of which reinvest their profits and export research and development centres to our country. This was stated by President Rumen Radev during a meeting in Sofia with the leadership of the Federal Association for Economic Development and Foreign Trade (BWA). Representatives of German companies working in the field of electric mobility, infrastructure, industrial design, banking, tourism and security systems based on artificial intelligence are visiting Bulgaria at the invitation of the head of state. The visit is aimed at exploring opportunities for the implementation of investments in our country. The participants in the meeting briefed the head of state on their activities, expressing their interest in cooperation with our country and with Bulgarian business.

 

Radev recalled his visit to the Federal Republic of Germany last month and his meeting with President Frank-Walter Steinmeier, during which a common belief was expressed about the enormous potential for expanding and deepening the fruitful cooperation between Bulgaria and Germany. Germany is a leading economic and investment partner of Bulgaria. The trade between the two countries is growing continuously and will exceed EUR 12 billion in 2024, with nearly 4,000 German companies operating in our country.

 

We continue to work to expand this cooperation at the highest political level, the president emphasised, adding that the visit of the German business association contributes to the establishment and development of mutually beneficial and fruitful partnerships. He added that after today's talks, such talks are soon to be held with other German companies from the transport sector and the aviation industry.

 

The President pointed to the advantages of our country for attracting foreign investments, including the strategic geographical location, highly qualified workforce, low operating and tax costs, and well-developed industrial zones. Radev stressed that German companies operating in our country contribute to the Bulgarian economy not only by creating new jobs, but also by implementing effective business and management models. The intense scientific and educational exchange between Bulgaria and Germany also contributes to the deepening of the bilateral partnership.

 

BWA Chairman of the Board, Michael Schumann, thanked the President for the invitation to the German delegation to visit Bulgaria. He recalled the talks held by the Bulgarian Head of State with BWA officials during the Munich Security Conference last February and the President's visit to Germany in August. This visit left a very positive impression both in political and economic circles, Schumann added, highlighting the potential for successful partnership and German investments in Bulgaria in a number of sectors, including security and defence.

 

Bulgaria was perceived mainly as a partner in the tourism industry, but Bulgaria also has potential in infrastructure projects, energy, the agricultural sector, the services sector, development and scientific activities, and education, Michael Schumann concluded.