Austrian companies have invested over EUR 5.2 billion in Bulgaria.
Austria is one of Bulgaria’s most important economic partners, and Austrian companies rank among the leading investors in the country. This was stated by the Minister of Economy and Industry, Peter Dilov, who held a meeting with the Ambassador of Austria to Bulgaria, H.E. Andrea Ikic-Böhm. It emerged during the meeting that about 10% of the largest foreign investors in Bulgaria are Austrian companies, operating in nearly all sectors of the economy. Austrian investments in Bulgaria amount to over EUR 5.2 billion, and around 350 Austrian firms have representation here.
The Minister of Economy and Industry and the Austrian Ambassador to Bulgaria discussed cooperation in sectors such as microelectronics, automotive, and innovation, as well as in energy, technology, and others. Also addressed was the partnership between the two countries in the area of dual education.
Both sides agreed that although trade between the two countries has increased over the past 10 years, there is still potential for deeper cooperation and the implementation of joint projects, especially after Bulgaria’s full accession to the Schengen area.
The Minister of Economy and Industry and the Austrian Ambassador in Bulgaria expressed their readiness to organize business forums and working meetings with potential investors this year, aiming to create new opportunities for the development of trade and economic relations.
Minister Dilov stressed that active efforts are being made to reduce administrative burdens and improve the business environment, as well as to restore confidence in Bulgaria as a reliable partner and investment location.
H.E. Andrea Ikic-Böhm highlighted the good and intensive economic cooperation between the two countries. She presented the results of the annual Advantage Austria survey among Austrian companies operating in Bulgaria, emphasizing that stability and predictability, as well as a lack of unnecessary bureaucracy, are of great importance to them.
She pointed out that the successful examples of Austrian investors already present in Bulgaria serve as good publicity and that new Austrian companies are showing interest in investing in the country, particularly in the IT sector, banking and insurance, and energy.
The two officials also discussed Bulgaria’s accession process to the OECD and the Eurozone, with H.E. Ikic-Böhm stating that Austria firmly supports Bulgaria in meeting the necessary criteria.