site.btaBulgaria to Become Regional Centre for High-Tech Investments - Deputy Economy Minister

Promoting strategic investments, reducing the administrative burden and modernizing the Bulgarian industry are among the main priorities of the government with Bulgaria establishing itself as a regional centre for high-tech investments, as well as a secure and competitive investment destination, as stated by Deputy Minister of Economy, Investments and Industry Mihaela Karadimova. She was speaking during the Annual Conference with the Ambassadors Extraordinary and Plenipotentiary and Permanent Representatives of the Republic of Bulgaria, organized by the Ministry of Foreign Affairs, the Economy Ministry said in a press release on Monday.

"Our goal is to attract more investments with high added value - in technology, innovation, microelectronics, automotive, artificial intelligence, digital infrastructure, defence industry, energy, biotechnology, etc.," said Karadimova.

Karadimova also noted that her ministry is actively working to create a more competitive and predictable business environment. "We have established an Investment Coordination Council under the Council of Ministers, and we have also developed a draft Public-Private Partnership Act, which will work for the benefit of business and investors. We are also working to reduce the administrative burden, with about 300 measures already identified," she said. According to her, the role of the new mechanism for coordinating strategic investors is to ensure faster administrative procedures, better institutional coordination and personalized service.

In her speech, Karadimova emphasized the key role of economic diplomacy for the development of Bulgaria and called on the country's representatives abroad to take proactive actions to promote business and investment in Bulgaria. "The topic of economic diplomacy has never been as important for the development of Bulgaria as it is today. In the conditions of increasingly intense international competition, we can no longer wait for investors to discover our country on their own. Bulgaria must be proactive - to reach out to strategic investors first, to offer concrete solutions and to build long-term partnerships," she said.

Deputy Minister Karadimova pointed out that the ministry has a wide network of Commercial and Economic Sections, which, together with Bulgaria's representatives abroad, are an important factor in presenting the country's economic potential, supporting Bulgarian business and attracting investments.

"Economic diplomacy today is measurable by the results it brings - more investments, more exports, more high-tech production, higher productivity and better opportunities for Bulgarian enterprises," she said.