Bulgaria and Hungary to explore joint investments in connectivity projects

Bulgaria and Hungary will develop transport corridors between the two countries and explore opportunities for joint investments in infrastructure projects, with the aim of improving connectivity. This is the main objective of the Memorandum of Understanding, which was signed today by Deputy Prime Minister and Minister of Transport and Communications Grozdan Karadzhov, Minister of Economy and Industry Petar Dilov and Minister of National Economy of Hungary Márton Nagy.

Bulgaria has an important strategic position on the European and global geopolitical map and significant potential to be a logistics hub for trade flows passing through the region, was the common opinion of the two ministers.

“Our transport policy is aimed at investing in the infrastructure and digitalization of sea and river ports. The ports of Varna and Burgas are well connected to the country's road and rail network, and our efforts to modernize road connections allow for the development of maritime transport as a key component of combined transport," said Deputy Prime Minister Karadzhov. According to him, the modernization of the ports of Varna and Burgas creates conditions for effective cooperation with other countries in the Black Sea region.