Minister of Economy and Industry Nikola Stoyanov launched a new initiative with foreign companies in Bulgaria to improve the business environment and encourage investment. The first meeting of the “Breakfast with investors” format, which took place today, is with representatives of Austrian business and is organized with the assistance of the Embassy of Austria in Bulgaria.
The cumulative amount of foreign direct investment in Bulgaria at the beginning of 2022 exceeds EUR 50 billion. “Behind these numbers is the work of thousands of companies. We, as a state, are obliged to have a much more cooperative dialogue with them,” Minister Stoyanov stressed. According to him, it is very important to make these meetings regular because they provide a quick and direct form of communication for foreign businesses with the minister in charge. “It is key for us to hear first-hand the problems and future intentions of foreign investors in the country. This will assist us in the preparation of legislative changes and future development of industrial zones,” Nikola Stoyanov added at the opening of the event.
According to the economic minister, nearly 10% of the largest foreign investors in Bulgaria are Austrian companies that develop their business in almost all sectors. A total of 350 Austrian companies have so far invested 4.6 billion euros in our country. “Last year our exports to Austria grew by 36% and the trade in goods was close to 1.9 billion euros,” Stoyanov said. He also drew attention to the fact that 90% of those present at today’s meeting were Bulgarians, part of the senior management of Austrian companies in our country.
Minister Stoyanov said that a number of investment projects are currently being worked on and he expects concrete news in the coming months. The aim is to attract high added value investments and companies that will drive economic growth and increase incomes.
During the discussion, representatives from over 15 companies presented their questions and concerns. It was agreed that these discussions will be regular and Minister Stoyanov stressed that for him there are no small and big problems and his door is open to all companies working in the country.
Similar meetings are to be organized jointly with other foreign chambers of commerce in Bulgaria.