Italian Companies are in the Top 4 Foreign Investors in Bulgaria

Italian Companies are in the Top 4 Foreign Investors in Bulgaria

Minister Nikola Stojanov discussed with the representatives of the Italian business the problems they face and their plans for development in Bulgaria

Foreign direct investment from Italy is worth over EUR 2.9 billion, making the country the fourth largest investor in the country. According to the BNB’s preliminary data, the Italian investments for 2022 alone amount to almost EUR 200 million. This became clear during a ‘breakfast with investors’ meeting of the Minister of Economy and Industry Nikola Stojanov with representatives of the Italian business in Bulgaria, which took place today.

Italian Companies are in the Top 4 Foreign Investors in Bulgaria

‘Italy is the country’s third largest trading partner in terms of exports and the fifth largest importer in the country,’ Minister Stojanov stressed. In the first eleven months of 2022, trade between Bulgaria and Italy was worth EUR 6.3 billion and grew by nearly 35%. Bulgarian exports amounted to EUR 3.4 billion and increased by 41.4%.

The Economy Minister pointed out that there are about 13 000 Italian companies in Bulgaria. ‘These are a huge number of companies and we, as a ministry, will support any initiative that would contribute to building trust and better dialogue. In this regard, we are opening a direct communication channel through which companies will have the opportunity to present problems and issues in operational order and work together to solve them,’ Minister Stojanov said.

During the meeting the sectors with the greatest potential for deepening cooperation were discussed. The sectors in which Italian companies are concentrated are energy, tourism, banking and insurance services, transport, agriculture, trade and processing of goods, etc. The business representatives raised issues related to the recruitment of workforce, support for enterprises, development of industrial zones in the country, etc.

Representatives of dozens of Italian companies took part in the event and asked questions to Minister Stojanov and presented their plans for the development of their projects in Bulgaria.

The meeting is organized with the support of the Embassy of the Italian Republic in Bulgaria and Confindustria Bulgaria. The Ambassador of the Italian Republic H.E. Giuseppina Dzarra and the President of Confindustria Bulgaria Roberto Santorelli.