News

Dialogue between business and the state is key to planning and implementing adequate economic policies. This was underscored by the Minister of Economy and Industry Nikola Stoyanov at the opening of an annual meeting of the Non-Food Traders Association.

Over 30 thousand new small and medium-sized enterprises are created in Bulgaria every year. This was said by the Minister of Economy and Industry Nikola Stoyanov during the award ceremony of the winners of the “Large Small” competition.

By the end of 2021, 39 Bulgarian projects have been funded by the European Space Agency. This was announced by the Minister of Economy and Industry Nikola Stoyanov during the ceremony “50 years Bulgaria – a space state”, organized by the Space Research and Technology Institute at the Bulgarian Academy of Sciences.

Work has started on the creation of an investment map for the re-industrialisation of Bulgaria, which will be based on the raw materials extracted in the country. This was agreed between the Minister of Economy and Industry Nikola Stoyanov and the Bulgarian Chamber of Mining and Geology. According to him, Bulgaria has large amounts of underground wealth, which is currently being used entirely for export and these are lost benefits for the Bulgarian economy.

Last year, Bulgarian exports to the USA grew by over 50% and amounted to nearly USD 1 billion. This was announced by the Minister of Economy and Industry Nikola Stoyanov at the opening of the International Conference “EXPLORE U.S.”. The event was also attended by Minister of Innovation and Growth Alexander Pulev, U.S. Assistant Secretary of State for Energy Resources Geoffrey Payette, President of the American Chamber of Commerce in Bulgaria Olivier Marquette, U.S. Ambassador to Bulgaria Herro Mustafa, Executive Director of the Executive Agency for the Promotion of Small and Medium Enterprises Boyko Takov and others.

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.

It is unacceptable that the Light Industry Council has not met for 4 years and I hope that this will never happen again. With these words, the Minister of Economy and Industry Nikola Stoyanov opened today’s meeting. The Council is a permanent body of the Ministry of Economy and Industry and should hold regular meetings to discuss problems and identify government measures and policies. In recent years, however, its work has been suspended.

British investments in Bulgaria amount to nearly 2.3 billion euros. This was announced by the Minister of Economy and Industry Nikola Stoyanov during a meeting with the British Trade Commissioner for Europe Chris Barton and the heads of 8 leading British high-tech companies. The meeting was organised by the British-Bulgarian Business Association (BBBA) and attended by a number of their members.
Minister Nikola Stoyanov presented the investment opportunities in our country and the priorities in the work of the Ministry of Economy. “For 2021, the bilateral trade between Bulgaria and the UK is worth nearly 930 million euros, of which two thirds is taken by Bulgarian exports,” he added and stressed that there is still untapped potential between the two countries.

Until now, Bulgaria was proud that 9 out of 10 cars in Europe have parts made in our country. Soon we will be able to say that every European car has Bulgarian parts because we have confirmation from a new investor who is a global manufacturer in the automotive industry. This was announced by the Minister of Economy and Industry Nikola Stoyanov during a Seminar for new members of the foreign diplomatic corps in Bulgaria, organized by the Diplomatic Institute at the Ministry of Foreign Affairs.

More than BGN 200 million have been earmarked in the National Recovery and Resilience Plan for the development of industrial zones in the country. This was announced by the Minister of Economy and Industry Nikola Stoyanov during the ceremony “Mayor of the Year”, organized by Kmeta.bg.