Minister Bogdanov: Foreign investment grows by nearly 50% and reaches over EUR 3.1 billion in the first nine months of the year

Minister Bogdanov: Foreign investment grows by nearly 50% and reaches over EUR 3.1 billion in the first nine months of the year

This is the highest growth in 15 years, announced the Minister of Economy

In the period January-September 2023 alone, foreign direct investment (FDI) in Bulgaria reached over EUR 3.1 billion, according to the BNB’s preliminary data. The increase is more than EUR 1 billion or nearly 50% more than in the same period last year. This is the highest FDI growth in the last 15 years, even compared to annual data from this period. This was announced by Minister of Economy and Industry Bogdan Bogdanov during a meeting with representatives of leading Bulgarian, British and international companies in Bulgaria.

The economy minister stressed that Bulgaria is in the top 5 in the EU in terms of economic growth in the third quarter. “Despite the recession, which is observed in Western Europe, the Bulgarian economy continues to grow by nearly 2%,” Bogdanov said. In his words, in the third quarter there was a 1.7% growth of the gross domestic product in Bulgaria, according to the NSI express data.

“Eastern Europe offers many opportunities for growth and development and Bulgaria will be at the heart of the region’s future development. We started as an outsourcing destination and now we are becoming a hub for innovation and high value-added manufacturing and technology,” the minister added. “I believe that Bulgaria and its regional neighbours will play an increasing role in the development of Europe”, he said.

According to him, we already have technology companies that are globally recognized in areas such as logistics, ICT and the aerospace industry. “Our country is a good place for investment and can become a centre for development and a transport and logistics hub in the region,” Bogdanov said.

He announced that an investment portal is being developed, which will digitize the process of administrative services for investors and will unite all state structures. There, potential investors will be able to find information on prepared industrial sites as well as necessary information on the labour market and the project promotion process in one place. We will implement the whole system, taking best practices from the EC,” the minister added.

The event was organized by the British-Bulgarian Business Association and was attended by the British Ambassador to Bulgaria H.E. Rob Dixon and representatives of leading companies.