There is strong interest from international research and development centres in Bulgaria
Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev held a meeting with the President of the American Chamber of Commerce in Bulgaria (AmCham Bulgaria), Tommy Ver Elst, and its Chief Executive Officer, Ivan Mihaylov. The meeting discussed opportunities for deepening economic partnership, attracting new investment, and promoting innovation, the development of artificial intelligence and technology transfer.
“The United States is a key strategic partner for Bulgaria – both geopolitically and economically, across a number of high-value-added sectors. Our door is open to American business, and we are ready for any form of engagement,” said Minister Poulev.
Among the priority sectors highlighted were energy, artificial intelligence, innovation, technology transfer and the development of high-tech production. Alexander Poulev noted that Bulgaria has the potential to attract more high-value-added investment by making more active use of the available European and national instruments.
The Deputy Prime Minister stressed that the state has already put in place the institutional architecture needed for better coordination and faster service for strategic investors. According to him, the aim is to have a clear point of contact for business and more effective coordination between institutions and financial instruments. “We aim to provide full support – administrative and with expedited service – to strategic partners: any incentive measures, processes and coordination we are able to provide,” Poulev noted.
The meeting also placed emphasis on encouraging innovative companies and industries through appropriate incentive measures. “We are examining all types of incentive measures that are relevant and applicable both within the EU and on a global scale,” Poulev said.
He stressed that, in preparing such reforms, a specific cost-benefit analysis is required so that every measure is justified by real economic effects. “We already have strong interest from international research and development centres in Bulgaria. It is important for us to develop technology transfer and to create real added value for the Bulgarian economy,” he said.
Representatives of AmCham stressed the importance of stability and predictability in the business environment for investors. During the discussion, it was noted that long-term investment decisions require clear rules, sustainable policies and a predictable regulatory environment. Representatives of the business organisation also pointed to the need to preserve Bulgaria’s competitiveness by encouraging innovation and using appropriate incentives for business.
The new draft law on public-private partnerships, prepared by the Ministry of Economy, Investments and Industry, was also discussed as a key tool for the country’s modernisation. Minister Poulev stressed that the framework must mobilise both public and private capital and create a mechanism that works in practice for delivering infrastructure projects. “We need to find ways to mobilise private capital in order to carry out a comprehensive modernisation of the country’s infrastructure – in energy, transport and connectivity. We want this to be a genuinely practical and workable framework,” he said.
The meeting also discussed opportunities for further boosting economic relations between Bulgaria and the USA through the organisation of joint business delegations and forums, which would create new opportunities for direct contacts between companies from both countries.