Bulgaria has a strong competitive advantage in attracting investment in the region. The Ministry of Innovation and Growth (MIG) is focused on improving the business environment through a range of measures and policies. Bulgaria is an attractive destination where investors can launch or expand their operations. This was stated by Deputy Minister of Innovation and Growth Krasimir Yakimov at the opening of a Bulgaria–China conference in Sofia.
The event was organised by the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) under MIG and the Chinese Embassy in Bulgaria. It focused on trade and economic cooperation between the two countries. More than 120 companies from Bulgaria and China took part.
“Today’s fast-changing world increasingly highlights the exchange of ideas and experience in areas such as innovation, research and development, technology transfer, artificial intelligence and green energy,” Deputy Minister Yakimov said at the forum.
He noted that amendments were recently made to the Investment Promotion Act, introducing facilitations measures. “We have facilitated and expanded incentive measures in support of investment projects, significantly shortened the timeframes for their certification, and streamlined administrative procedures,” Yakimov said.
Yakimov recalled that just over a year ago he personally presented a Class A investment certificate to a Chinese investor in Plovdiv. The project involves the construction of a high-tech plant for the production of automotive parts. He said he was confident this was a positive step for Bulgaria–China economic relations.
“I hope the forum will create opportunities for cooperation between Chinese and Bulgarian businesses. We are open to pragmatic partnerships based on technology transfer and support for small and medium-sized enterprises,” Yakimov said. He also underscored to participants the importance of establishing new innovation clusters and technology centres.
Earlier in the day, he met with Mr Li Zhongjun, Vice Governor of Jiangsu Province, who is leading a Chinese delegation on an official visit to Bulgaria.
