Our country has all the prerequisites to become a regional hub for development
The Minister of Economy and Industry Bogdan Bogdanov discussed new possible areas of cooperation and the implementation of joint projects with the Vice President of a Korean technology giant. The company is a global innovation leader and manufacturer of industrial electronic components and batteries. It is among the world’s leading manufacturers of microelectronics, batteries, automotive applications, energy storage systems and more. The meeting was also attended by the Deputy Minister of Economy and Industry Nikolay Pavlov and the Executive Director of Automotive Cluster Bulgaria Lyubomir Stanislavov.
Minister Bogdanov pointed out that more and more investors are interested in opening development centres in Bulgaria. According to him, only in the automotive sector in Bulgaria there are already more than 35 R&D centers of leading international companies, including Asian ones. ‘Software development in the automotive industry is important for the country and our country has all the prerequisites to become a regional hub for the development of companies in the sector,’ he pointed out. Bulgaria has talented engineers and sufficient expertise, the minister said, adding that the automotive sector is a priority.
Minister Bogdanov discussed the implementation of joint projects in Bulgaria with the management of a Korean technology giant. During the meeting at the headquarters of the corporation in South Korea, emphasis was placed on the fact that our country can provide a supply chain for the new factory of the company, training and training of local experts, building infrastructure and financial incentives. ‘Bulgaria is in the right place to develop innovations in the industry, but also to ensure efficient production of components and modules,’ Bogdanov pointed out.
The minister was adamant that now is the right time for investment in our country so that companies can be close to their Western customers while having access to key resources and expertise.
In his words, Bulgaria’s inclusion in the European Battery Alliance this year is key for the development of investments in high-tech green industries. ‘This is an environment where we can work on new projects together with our partners. Bulgaria can contribute with the capacities we have already built up,’ he added. According to him, there is already an active dialogue on the use of Bulgarian capacity for recycling batteries and raw materials. ‘Battery recycling in our country can also play a key role in the future development of the industry,’ he said.
Minister Bogdanov also said that there are opportunities for investment in regions of the country that are most affected by the energy transition, which offer good infrastructure and need new investments and new jobs.
During his official visit to South Korea, the Minister of Economy and Industry also met with representatives of a leading university hospital. During the meeting the possibility of exchange of doctors and students from both countries was discussed, as well as the opportunities for investment in the sector in Bulgaria.