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Minister Bogdanov discussed investment opportunities in Bulgaria with a leading South Korean company

Minister Bogdanov discussed investment opportunities in Bulgaria with a leading South Korean company

Positioning of South Korean companies in the industrial zones in Bulgaria and implementation of projects with public-private partnership were among the topics of the meeting

The opportunities for investment in our country and intensification of bilateral cooperation in a number of sectors, including automotive, energy, transport, information and communication technologies, healthcare and innovation. These topics were discussed by the Minister of Economy and Industry Bogdan Bogdanov and representatives of the largest company for the implementation of infrastructure and energy projects in South Korea, who are visiting our country.

The foreign delegation was accompanied by the Ambassador of the Republic of Korea in Bulgaria H. Е. Mr Be Zhongyin. We would like to remind you that Minister Bogdanov was on a working visit to South Korea at the end of last year and invited the company’s representatives to visit our country, where they could get acquainted with the investment opportunities and potential partnerships.

Emphasis was placed on the positioning of South Korean companies in the industrial zones in Bulgaria, as well as on the implementation of joint projects in Bulgaria. The Minister of Economy and Industry pointed out to the representatives of the Korean giant the competitive advantages that our country offers to investors, pointing out the availability of good experts and the strategic location of our country, which will encourage the successful entry of Korean companies on the European market. Through Bulgaria, companies will be close to their Western customers while having access to key resources and expertise.

Within the framework of the meeting, the opportunities for the implementation of projects with public-private partnership were also discussed, as the Minister of Economy pointed out that our country is a driving force for many of the important infrastructure projects in the region.

‘Work is underway to build an investment portal, which aims to shorten the investment process and facilitate companies’ access to summarized information about the opportunities Bulgaria offers,’ Bogdanov said. This will also facilitate communication between businesses and all government institutions. The Economy Minister also pointed out the mechanisms for regional aid, pointing out that in regions with higher unemployment, where new jobs have to be created, the thresholds for state aid are higher.

Minister Bogdanov discussed investment opportunities in Bulgaria with a leading South Korean company

Minister Bogdanov discussed investment opportunities in Bulgaria with a leading South Korean company ‘Bulgaria is becoming more and more attractive for investors. We report record investments in 2023 not only of new companies, but also of those that reinvest in our country,’ Bogdanov added.

The Minister stressed that a Memorandum on bilateral trade and investment promotion between the countries is to be signed and efforts are underway to make this happen during the meeting of the Bulgarian-Korean Economic Cooperation Commission this year in Bulgaria.

The meeting was also attended by Deputy Minister of Economy Nikolay Pavlov and the executive directors of the State Consolidation Company (SCC) and the National Company Industrial Zones (NCIZ) Ivan Zangotchev and Konstantin Palaveev.

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