Deputy Prime Minister Discusses Attracting New Investment, Developing Industrial Cooperation and the Strategic Partnership with Rheinmetall with German Ambassador
Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev held a meeting with H.E. Irene Plank, Ambassador of the Federal Republic of Germany to Bulgaria. The discussions focused on deepening the economic partnership between Bulgaria and Germany, developing the automotive industry, expanding existing investment and attracting new investment, industrial cooperation and strategic projects in the defence industry.
“Germany is our number one trading and investment partner and our number one political friend. This is precisely why, in the new competitive environment, we need to work even more closely together,” Poulev said.
The Deputy Prime Minister emphasised that over the past decade, German companies have made a significant contribution to building and developing Bulgaria’s automotive ecosystem. According to him, the automotive sector is of strategic importance to the Bulgarian economy, accounting for around 10% of GDP and employing more than 90,000 people.
“We need to adapt our automotive sector to meet the new, more challenging realities. We need to make use of the existing know-how and expertise that we have built up over the years,” he said. Poulev noted that Bulgaria has the necessary industrial and engineering base, but needs to attract new technologies, manufacturing operations and investors, including in the fields of electromobility and high-tech components.
“We have a very strong concentration of activity linked to the German automotive industry. This has generated very positive results and benefits for our country over the past ten years, but we are now entering a new competitive phase,” the Deputy Prime Minister said. According to him, Bulgaria sees an opportunity to use its existing communication channels and partnerships to attract a new investor base from Asia, without weakening its traditional ties with German businesses.
The meeting also addressed specific opportunities to expand Bulgaria’s industrial zones and provide the infrastructure required for new manufacturing operations.
As an example, the Economy Minister cited Trakia Economic Zone, where there is interest in expanding production, including from German investors. “The state is working to provide the necessary electricity capacity and infrastructure. We will do everything in our power to create the necessary conditions for businesses to continue growing and investing in Bulgaria,” he said.
The Deputy Prime Minister emphasised that similar opportunities are also being developed in other industrial zones, including those in Shumen and Sofia. According to him, the state should be an active partner to investors, providing the necessary infrastructure and administrative support even before projects are implemented.
The strategic partnership with German defence company Rheinmetall was also discussed during the meeting. Poulev said that the Bulgarian Government is strongly committed to implementing the project. He also highlighted the potential for investment in the defence industry to create new opportunities for the sector in Bulgaria.
According to him, Bulgaria sees growing opportunities in the fields of drones, unmanned aerial systems, logistics vehicles and various types of equipment.
Deputy Prime Minister Poulev said that the next step would be to continue discussions with the German partners at both expert and political level, including during his forthcoming visit to Berlin.