The Minister of Innovation and Growth opened an international business and investment forum in Turkey and held meetings with two Turkish ministers
Economic cooperation between the Balkan countries is a key to the sustainable growth and stability of the region. We have a huge potential that we can develop together. This was stated by the Minister of Innovation and Growth, Assoc. Dr. Rosen Karadimov, during the Balkan Business and Investment Forum, which is being held in Edirne. Karadimov participated in the conference at the invitation of the organizers – the Minister of Industry and Technology of Turkey Mehmet Kacir and the Minister of Trade Prof. Dr. Yomer Bolat.
“Turkey is among Bulgaria’s leading economic partners. Last year, our trade reached an impressive 6.6 billion euro, turning the Turkish country into the fifth largest market for Bulgarian exports,” said Karadimov. He pointed out that so far 36 Turkish investors have been certified under the Law on the Promotion of Investments, which are for over 1.7 billion BGN and opening over 5,600 new jobs in Bulgaria. “This is not just a statistic – the data reflect the strong ties between our countries and between Bulgarian and Turkish businesses,” Karadimov also stated.
He pointed out to the participants from the Balkan countries that the Ministry of Innovation and Growth promotes innovation and supports business through various instruments. As an example, he pointed to the financial and administrative measures by the Bulgarian Investment Agency, the Agency for the Promotion of Small and Medium Enterprises, as well as by the Bulgarian Development Bank, the Fund of Funds and the European programs managed by the Ministry. “We have two European programs with a total budget of 2.5 billion euros aimed at increasing competitiveness and supporting science and business”, specified the Minister of Innovation and Growth.
Karadimov also said that the Ministry of Innovation and Growth supported industrial parks and zone development in Bulgaria. “According to our data, Bulgaria needs at least 35 industrial parks. They immediately attract investors and provide opportunities for economic and social development,” he added. The Ministry finances 11 industrial parks and zones with a total of 105 million euros under the National Recovery and Resilience Plan. “We are actively working to create a national industrial park development program in 2025,” he told investors.
Regarding the Bulgarian Development Bank, Karadimov said that with its new strategy it can be an active participant in the implementation of key state policies. “The bank will support the development of modern industrial infrastructure, which will speed up and facilitate the process of re-industrialization and the attraction of foreign and domestic investments,” said the minister and added that the bank also has a new program for export financing. It aims to support Bulgarian companies that produce goods or services for markets outside the country.
“With all these tools, we are ready for cooperation with the Balkan countries to deepen trade relations. Improving the transport and logistics infrastructure, both physical and digital, will facilitate economic growth and stability,” Karadimov said.
Deputy Minister of Innovation and Growth Krasimir Yakimov also took part in the discussions on the investment potential of Bulgaria and the partnership with the Balkan countries. He emphasized that the Ministry is actively working to promote new technologies as a driver of economic growth and competitiveness. “The main priority in our work is attracting investments in high-tech sectors and innovative productions. In recent years, Bulgaria has become a recognized IT destination with a reliable and stable investment climate. As a member of the EU, with low corporate tax rates and strategic geographical advantages, we are ready to explore investment opportunities in high and environmental technologies with partners from Turkey and the Balkans,” Yakimov said. He pointed out that Turkey is a priority investor. “For 2024, we have certified 2 investment projects of Turkish companies in Bulgaria for over BGN 250 million, which will create over 850 new jobs in Shumen and Stara Zagora. By 2023 financial incentives of BGN 54 million for 7 projects with Turkish participation, certified under the Law on the Promotion of Investments”, added Yakimov. He also informed about the support of small and medium-sized enterprises by the Agency to the Ministry of Innovation and Growt, which organizes trade missions with business forums and visits to sector exhibitions in several Balkan countries such as Romania, Serbia and Croatia.
Within the framework of the forum, the Deputy Minister of Innovation and Growth Prof. George Angelov participated in a discussion on the development of start-up companies in the region. He outlined the various opportunities that our country offers to support startups. As examples, he pointed to the financial instruments from the Fund of Funds as key to the growth and sustainability of the economy. Start-up companies in Bulgaria can benefit from support to develop and strengthen their capacity for scientific research, innovation and introduction of modern technologies. Opportunities include the Entrepreneurship Fund, the Enterprise Innovation Fund and the Start-Up Digitization Fund.
The forum was attended by ministers and deputy ministers from countries in the region, the mayor of Edirne, the executive director of the Bulgarian Investment Agency Mila Nenova, the chairman of the Supervisory Board of the Bulgarian Development Bank Delyana Ivanova, over 30 Bulgarian companies organized by the Executive Agency for Small and medium-sized enterprises, representatives of Turkish business, as well as heads of chambers of commerce.
Within the framework of the forum, Minister Rosen Karadimov together with his team held bilateral meetings with the Minister of Industry and Technology of Turkey Mehmet Kacir and with the Minister of Trade Prof. Dr. Yomer Bolat. The meetings highlighted the excellent partnership between Bulgaria and Turkey and discussed the possibilities for deepening economic relations and cooperation, attracting investments and developing industrial zones.
