Deputy Minister Yanev: No matter the pandemic we notice investors interest in Bulgaria

Deputy Minister Yanev: No matter the pandemic we notice investors interest in Bulgaria

“Although the pandemic and the delay caused by it, we saw interest in Bulgaria as an investment destination, both in manufacturing and in high value-added business services. ICT and outsourcing are among the leading sectors for attracting investment in the country, along with electronics, transport equipment and machinery, the chemical industry, the food industry, logistics and so on”. Stated the Deputy Minister of Economy Stamen Yanev during a video conference with Swedish companies representatives. He emphasize that these are industries with great potential for export development, employment and regional development of the country.

During the video conference, mr. Yanev reminded that, during a pandemic business is “experiencing difficulties and it is important to build partnerships, increase our efforts and use resources so that we can achieve more through cooperation, useful for companies and for countries”. He also added that the adoption of a new Law on Industrial Parks in the country and creation of additional incentives for investors will provide many new investment opportunities in Bulgaria. According to him, currently the focus is mainly on sustainable investment projects, high value-added projects and projects in underdeveloped regions. “In 2019, the inflow of FDI from Sweden reached 32.3 million euros of the total inflow of FDI in Bulgaria to 1,138.5 million euros. These data show that there is still a great untapped potential for further development of our economic relations and for Swedish investors to expand their business in Bulgaria, “said the Deputy Minister.

In conclusion, Mr. Yanev pointed out to the Swedish companies that Bulgaria offers a high level of competence and quality work, lower costs compared to many other countries and this is important to take into account when deciding to expand the business.