A new initiative is starting with foreign companies in our country to improve the business environment and encourage investments

Industry / Bulgaria
3E news
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Source: Ministry of Innovation and Growth

The Minister of Economy and Industry Nikola Stoyanov launched a new initiative with foreign companies in our country to improve the business environment and promote investments. The first meeting of the "breakfast with investors" format, which was held today, was with representatives of Austrian business and was organized with the assistance of the Embassy of Austria in Bulgaria.

The accumulated amount of foreign direct investments in Bulgaria by the beginning of 2022 exceeds 50 billion euros. "Behind these numbers is the work of thousands of companies. We, as a country, are obliged to have a much more operative dialogue with them", stressed Minister Stoyanov. According to him, it is very important that these meetings become regular, because they provide a quick and direct form of communication between foreign businesses and the line minister.

"It is key for us to hear first-hand the problems and future intentions of foreign investors in the country. This will help us in the preparation of legislative changes and in the future development of industrial zones", added Nikola Stoyanov at the opening of the event.

According to the Minister of Economy, nearly 10% of the largest foreign investors in Bulgaria are Austrian companies that develop their business in almost all sectors. A total of 350 Austrian companies have so far invested 4.6 billion euros in our country. "Last year, our exports to Austria grew by 36%, and the exchange of goods was close to 1.9 billion euros," said Stoyanov. He also drew attention to the fact that 90% of those present at today's meeting are Bulgarians, part of the top management of Austrian companies in our country.

Minister Stoyanov announced that work is currently underway on a number of investment projects, expecting concrete news in the coming months. The goal is to attract investments with high added value and companies that will be the engine of economic growth and increase of incomes.

During the discussion, representatives from more than 15 companies presented their questions and problems. It was agreed that these discussions would be regular, and Minister Stoyanov emphasized that for him there are no small or big problems and his door is open to all companies operating in the country.

Similar meetings are to be organized jointly with other foreign chambers of commerce in Bulgaria.



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