Vazovski Machine-Building Plants (VMZ) is a strategic enterprise with the potential to become one of Bulgaria’s most profitable state-owned enterprises. It has a long-established tradition, strong capabilities and, above all, people who demonstrate their professionalism every day. That is why the company’s employees are its most valuable asset. This was stated by Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Poulev in response to a parliamentary question in the National Assembly.
According to Poulev, the state continues to invest consistently both in expanding production and in improving working conditions. “We renewed the Collective Labour Agreement before its expiry to provide employees with certainty and predictability. This is a clear demonstration that both the state and the company’s management stand behind their employees and value their contribution,” Deputy Prime Minister Poulev said.
He noted that the company’s business programme for this year provides for investments of more than EUR 8 million, aimed at modernising the production environment, building new production facilities, upgrading heating systems, supplying new automated and ergonomic equipment, and providing modern personal protective equipment.
“For me, the people are VMZ’s most valuable asset. That is why we are investing to ensure they work in a modern, safe and motivating environment. Our investments therefore focus simultaneously on production, technology and working conditions,” the Deputy Prime Minister said
Commenting on the company’s financial position, Minister Poulev stressed that there was no basis for speculation. “The financial results demonstrate that the company is financially sound and there are no grounds for speculation regarding its liquidity. As of 30 June 2026, VMZ reported operating revenue of EUR 164 million, an accounting profit of more than EUR 16 million, and cash reserves amounting to EUR 24.5 million. Expected receipts by the end of the year are around EUR 150 million, which will provide additional resources both for current operations and for future investment,” he said.
According to Poulev, the company now needs to pursue a significantly more ambitious development strategy. “I have tasked the new management with presenting, within two weeks, an ambitious investment programme together with a concrete development plan. I expect proposals for entering new markets, developing a new VMZ product portfolio aligned with industry demand and the latest NATO standards, as well as specific measures to enhance the company’s competitiveness,” Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Poulev said.