Prime Minister Rumen Radev: German Investment is a Driving Force behind Bulgaria’s Industrial Development

Council of Ministers Photo

German investment is a driving force behind Bulgaria’s industrial development and brings successful business models into the economy and Bulgaria’s doors are therefore wide open to German businesses, Bulgaria’s Prime Minister Rumen Radev said at a meeting with a delegation from the German Eastern Business Association, the Council of Ministers said in a press release on October 21.

Radev highlighted Bulgaria’s achievements in robotics, mechatronics, electronics and other high-tech manufacturing sectors, which offer opportunities for successful joint projects.

He also outlined the country’s advantages as an investment destination, including the stability ensured by the current government and Bulgaria’s strategic location at the crossroads of numerous energy, digital and transport corridors. The Prime Minister also emphasized Bulgaria’s role in ensuring regional energy security and its well-balanced energy mix, including its growing energy storage capacity.

A strong information technology ecosystem is another of Bulgaria’s advantages, Radev said. “We have qualified, well-trained professionals who can work in the industries of the future,” he said.

Radev also stressed the government’s active efforts to improve the investment climate by simplifying administrative procedures and speeding up the work of public institutions.