Ministry of Economy develops digital investment portal
One of the priorities in the policy of the Ministry of Economy and Industry is to create conditions for attracting investments in high value-added industries related to the circular economy, the automotive industry and renewable energy production. This was stated by the Minister of Economy and Industry Bogdan Bogdanov at the opening of a seminar for newly recruited members of the foreign diplomatic corps in the Republic of Bulgaria, held at the Ministry of Economy. The event is organised by the Diplomatic Institute at the Ministry of Foreign Affairs.
Minister Bogdanov pointed out that Bulgaria is a good place for investments, as our country can become a transport and logistics hub. He highlighted the vision of the Ministry of Economy for the development of industrial zones in the country through which new investment projects could be attracted. “Industrial zones should develop in parallel and be focused on specific industries,” he said and gave the example of the Dobroslavtsi Economic Zone – specialized in the automotive industry.
Bogdanov stressed that the industrial zones should be prepared as investment projects and the possibility of public-private partnership should be opened for them with international or local investors interested in building them in partnership with the state. He highlighted the possibilities of attracting representatives of international institutions such as the World Bank or the EBRD. “For the investment projects to happen, however, there must be prepared land, with infrastructure and areas built in key locations, close to major road arteries, and suitable premises for the respective business,” Minister Bogdanov stressed. As another emphasis in the policy of the Ministry of Industry and Trade regarding the industrial zones, he added the shortened administrative deadlines for launching investment projects. Minister Bogdanov said: In order to attract new investment projects, we need to have prepared land with infrastructure in place.
He announced to the representatives of the diplomatic corps that the Ministry of Economy is developing an investment portal that will unite all public structures related to the needs of investors. “The process will be digital and thus we will be able to curb corruption,” he added.
During the seminar, Minister Bogdanov pointed out that it is crucial for the development of our economic relations to have trade representatives around the world who work actively, as well as to apply clear criteria for monitoring their work. He said that the Ministry of Economy and Industry was in the process of competitively recruiting for 23 vacancies in 21 countries for trade representatives in the Trade and Economic Affairs Offices (STIV) of the Republic of Bulgaria around the world. Eight of these positions are for European countries, 13 for non-EU countries and 2 for CIS countries.
“For years we have not been represented by STIVs in countries that are important trade partners of our country, which has negatively affected bilateral economic relations,” Minister Bogdanov said. He emphasized that the evaluation committee for the first time includes representatives of the Ministry of Foreign Affairs, nationally represented employers’ organizations, experts from academia, educational institutions and NGOs. All of them have proven experience and expertise in the fields of foreign economic cooperation, trade, investment, business environment, international law and others, in view of the subject of the STIV’s activities.