During their official visit to the United States, Bulgarian Ministers Bogdan Bogdanov and Asen Vassilev extended a warm invitation to American companies to invest in Bulgaria, particularly in high-tech industries. The ministers held discussions with representatives from leading American companies, including Tesla, Honeywell, Northrop-Grumman, Lockheed Martin, FedEx, and C4V, to explore opportunities for investment and job creation in Bulgaria.
Focus on Qualified Labor: Minister Vassilev emphasized that Bulgaria welcomes American businesses seeking qualified personnel but cautioned against seeking cheap labor. His remarks underscored Bulgaria’s commitment to fostering an environment conducive to high-quality, well-paid jobs rather than low-cost labor.
Growing Trade Relations: Highlighting the positive trajectory of bilateral trade, Minister Bogdanov noted that trade between Bulgaria and the USA has been steadily increasing since 2017 and is expected to surpass $2 billion in 2022. He expressed Bulgaria’s interest in sustaining this growth and attracting American capital investments in high-tech production and services.
Investment Opportunities: Minister Bogdanov outlined Bulgaria’s investment advantages, citing government support for capital projects and efforts to attract foreign investors. He highlighted the potential for American investment in information and communication technologies, renewable energy, and high-value-added manufacturing.
Cooperation with International Institutions: During their visit, the ministers also met with representatives from the World Bank group to explore cooperation opportunities in managing industrial zones and infrastructure projects. Discussions centered on leveraging public-private partnerships to attract investors and develop transparent rules for collaboration between the government and the private sector. Positive Feedback and Future Collaboration: The representatives of the World Bank group commended Bulgaria’s efforts to develop industrial zones and infrastructure projects, expressing readiness to support the country’s business development initiatives. Plans were made for continued dialogue and the signing of a Memorandum of Cooperation to further collaboration in key areas.