Minister Bogdanov: In the first ten months alone, foreign investments in our country grew by over 53% and set a new record of nearly 3.4 billion euros

Direct foreign investments in our country only for the first ten months of this year have seen a significant growth and reached nearly 3.4 billion euros. They increase by more than 1.1 billion euros compared to those for January-October 2022, with the growth on an annual basis amounting to 53.6%, according to the preliminary data of the BNB. This is the highest growth of foreign investments for the last nearly 15 years in the country. This was stated by the Minister of Economy and Industry, Bogdan Bogdanov, who held a meeting with Steve Matushak, manager of the plant in Bulgaria of the American company ADM.

The two discussed the company's intentions for sustainable development in Razgrad and confirmed ADM's commitment to investments in the Municipality. The largest corn processing enterprise in the country plans to invest and make its production more energy efficient. At the meeting, Steve Matushak pointed out that the company has clear goals and indicators related to reducing greenhouse gas emissions, natural gas consumption, water consumption and the amount of waste.

Minister Bogdanov emphasized that Bulgaria is a good place for business development and the fact that companies that have already invested in our country are expanding their investments is proof of that. He expressed readiness for assistance and support in the implementation of the investor's future plans. Bogdanov pointed out that the government is working for a predictable and stable business environment to guarantee the sustainable development of companies in our country. The Deputy Minister of Economy Ivaylo Shotev was also present at the meeting.

The American company ADM operates mainly in markets from the Balkans, but exports its production to nearly 60 countries around the world, which expands the market for Bulgarian corn producers to global proportions. In addition, the company donates over BGN 60,000 to support the local community.

ADM's latest expansion investment, which doubled the plant's production capacity, was completed in 2021.