Minister Bogdanov: We are actively working to preserve and upgrade Bulgaria's economic growth in 2024

"We ended 2023 with a growth of 1.8% of the gross domestic product, for 2024 we predict that it will be over 2%. We are actively working to preserve and build on Bulgaria's economic growth this year." This was said by the Minister of Economy and Industry Bogdan Bogdanov, who is on a working visit to the city of Varna.

He indicated the preservation and upgrading of foreign direct investments in our country as another priority for the year. "Despite the recession, which is observed in our economic partners in Europe, Bulgaria reports the highest growth of direct foreign investments for the last 12 years", emphasized Bogdanov. In the period from January to November last year, they reached 3.485 billion euros, which is 36% more compared to the same period in 2022. This is shown by the preliminary data of the Bulgarian National Bank (BNB). "This is nearly BGN 7 billion of fresh resources in the state. Part of these funds are reinvestment, which is another sign that business in Bulgaria is optimistic about the development of our economy," added Bogdanov.

The Minister of Economy held a meeting with the Mayor of Varna Municipality Blagomir Kotsev and they discussed the future economic and industrial development of the area. Bogdanov highlighted the advantages of the region and announced the construction of an industrial zone on the territory of the municipality of Varna, together with the National Company of Industrial Zones (NCIZ). "Varna is one of the most promising regions in Bulgaria and has absolutely all the prerequisites to attract not only investments, but also to support the development of local business in sectors with high added value," emphasized the minister. The industrial zone will be built in partnership between the state in the form of NCIZ and the municipality.

The Minister of Economy announced that a local investment team will be formed, which will present the advantages and opportunities for implementing projects in the region. It will be assisted by the Ministry of Economy, the National Institute of National Statistics and the representatives of the Offices for Trade and Economic Affairs (OTEA).

Regarding business access to trained staff, Minister Bogdanov stated that the Ministry of Economy will work closely with universities and municipalities. "We want to give young people who complete their education the opportunity to get an internship and professional qualification in the structures of the ministry," he emphasized.

Regarding the national priorities related to the admission of Bulgaria to Schengen and the Eurozone, Bogdanov pointed out that the Ministry of Economy will work together with the Municipality of Varna to implement them. "We have a clear strategy to attract strategic investors for the implementation of key infrastructure projects," said the Minister of Economy.

Bogdanov also commented on the future development of the Plovdiv fair: "We are of the same opinion with the mayor of Varna, by the end of March it is planned that the shares in the Plovdiv fair will be returned by the municipality to the state." According to him, it is important for the public to know that the state prioritizes the development of this strategic asset. "We want the fair to work at full capacity and its doors to be open to businesses from the Varna region," the minister was emphatic. He added that there is a prepared strategy for the development of the fair, which has been presented to the Municipal Council in Plovdiv, and there is readiness for this to happen in Varna. According to him, there are already proposals for organizing joint events in Plovdiv, to be held this year. "Together with the Bulgarian municipalities, we can turn the Plovdiv fair into a place that will be the gateway of the Bulgarian industry to the world," said Bogdanov. He emphasized that the timely efforts of the Ministry of Economy and Industry prevented the state's shares in the Plovdiv Fair from being transferred to a private company. We remind you that already at the beginning of June, Minister Bogdanov ordered a full legal analysis of the case. In mid-July, a claim was filed for the recognition of the state's ownership of the shares, and at the present time, with the rulings that have come into force, both special requests have been granted: to stop the entry of the contribution in the Commercial Register and to impose a seizure of the shares.

As part of his working visit, Minister Bogdanov also met with the regional governor of the city of Varna, Adriana Andreeva.