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The innovation topic is of strategic importance for this initiative and for the development of the regional ecosystems. The Bulgarian caretaker Minister of Economy, Kiril Petkov, made a proposal during the designated panel, for the creation of an innovation investment fund as part of the Three Seas Initiative.

He also presented his idea for the establishment of a regional digital hub for biotech and pharma in Sofia Tech Park. The idea is for startups and companies from the SEE to be able to fuel their innovations and research with the power of the recently installed supercomputer there.

Aurubis started the construction of a 10-megawatt (MW) solar power plant near its production site in Bulgaria. This is the next step towards sustainable multimetal production. Once completed, it will be the largest PV plant for in-house electricity production by a company in the country.
The construction of the “Aurubis-1” PV plant was launched with a special event at company’s production site in the Srednogorie region attended by the Minister of economy of Bulgaria Kiril Petkov , local authorities, and business representatives.

As part of Bulgaria’s chairmanship of the Three Seas Initiative, Bulgaria will also host a Business Forum in conjunction with the Three Seas Summit July 8th to 9th, 2021. The Business Forum will include meetings between the Chambers of Commerce, innovation agencies, and investment agencies of 3SI participating states, as well as parallel businesses meetings. The Business Forum has four separate panels on energy, innovation, transport, and digitalization, as well as a special panel focusing on the 3Si Investment Fund.

The Three Seas Initiative (3SI) was launched at presidential level as a platform to provide strong political support for accelerated economic development and enhanced intra-regional and cross-border cooperation and connectivity among 12 EU member states bordering the Baltic, the Adriatic and the Black Sea.

An opportunity to attract new sustainable investment, economic development and strengthening the connection with the other part of Europe as well as attracting trans-Atlantic partnership in the region: these are some of the priorities the Three Seas Initiative has set for itself, Minister Kiril Petkov commented during a mini conference on the funding opportunities offered by the Investment Fund of the Three Seas Initiative organised by the Bulgarian Development Bank (BDB). The event was opened by Bulgarian President Rumen Radev.

The Minister of Economy Lachezar Borisov signed six investment certificates under the Investment Promotion Act (IPA) with a total value of over BGN 110 million, which are expected to create nearly 600 new jobs. Five of the investments received a Class A certificate – those of “Senid”, “EL BAT”, “Bulprotein”, “Agromil Bulgaria” as well as “Blox Group Bulgaria”, and the sixth investment made by “Matega” receives a Class B certificate.

The Minister of Economy Lachezar Borisov signed three investment certificates under the Investment Promotion Act (IPA) worth a total of BGN 8.3 million, which will create nearly 300 new jobs. Two investments the one of „Pharmalex Bulgaria“ and „BADER Bulgaria“ received a Class A certificate, and a third investment made by „ROCK 7“ EOOD receives a Class B certificate.

The Minister of Economy Lachezar Borisov presented a Class A investment certificate under the Investment Promotion Act (IPA) to BIC Services Sofia EOOD for the investment project “Establishment of a financial centre for shared services of Societe BIC in Sofia”

“Although the pandemic and the delay caused by it, we saw interest in Bulgaria as an investment destination, both in manufacturing and in high value-added business services. ICT and outsourcing are among the leading sectors for attracting investment in the country, along with electronics, transport equipment and machinery, the chemical industry, the food industry, logistics and so on”. Stated the Deputy Minister of Economy Stamen Yanev during a video conference with Swedish companies representatives. He emphasize that these are industries with great potential for export development, employment and regional development of the country.

InvestBulgaria Agency / IBA / and fifteen of the Bilateral Chambers of Commerce and Industry jointly organize an international video conference to present Bulgaria as a new “nearshoring” destination worldwide on January 28, 2021, under the patronage of the Ministry of Economy. The conference is part of an overall initiative conducted over the last half year, which aims to position Bulgaria as an excellent destination for production relocation in the process of shortening supply chains /nearshoring/.