Bulgarian caretaker Economy and Industry Minister Nikola Stoyanov is launching Breakfast with Investors, a new initiative intended to improve the business climate and promote investment for foreign companies in this country, Stoyanov's Ministry said in a press release. The first meeting in this format took place on Friday with Austrian business executives and was organized in cooperation with the Embassy of Austria in Bulgaria.
"Foreign direct investment in Bulgaria exceeded EUR 50 billion in early 2022," Stoyanov said at the opening of the event. "These figures are the result of the work of thousands of companies, and the State must have a much more operational dialogue with them," he argued. In his words, it is very important for these meetings to become regular as they provide a quick and direct form of communication of the foreign business community with the Economy Minister. “To us it is key to hear first hand about the problems and future intentions of foreign investors in this country. That will help us in drafting legislative amendments and in a future development of industrial zones," Stoyanov added.
In his words, nearly 10% of the largest foreign investors here are Austrian companies pursuing business in almost all sectors. A total of 350 Austrian companies have so far invested EUR 4.6 billion in Bulgaria. In 2021, Bulgarian export to Austria grew by 36% and two-way trade amounted to nearly EUR 1.9 billion. The Minister noted that 90% of the attendees at the meeting are Bulgarians who are part of the senior management of Austrian companies in Bulgaria.
Stoyanov also said that work is underway on a series of investment projects, and he expects specific news in the coming months.
Within the discussion, representatives of over 15 companies presented their problems and asked questions. It was agreed to hold discussions on a regular basis.
Similar meetings will be organized jointly with the other foreign chambers of commerce in Bulgaria, the Economy Ministry reported.
/RY/