site.btaGerman Business Representatives to Visit Bulgaria in September to Discuss Investment Opportunities - President

The presidential institution is holding talks with German companies whose representatives will visit Bulgaria at the beginning of September to discuss potential investments, President Rumen Radev said on Thursday, after meeting his German counterpart Frank-Walter Steinmeier in Berlin.

The two heads of state agreed that cooperation between Bulgaria and Germany is very good and is set to expand further.

“My personal ambition is to establish new production capacities and be part of the manufacture for Airbus in Bulgaria,” Radev said, explaining that this concerns Premium AEROTEC, German aerospace manufacturing.

The President added that he held serious discussions with the company's leadership back in February during the Munich Security Conference, and in September, they will visit Bulgaria. “We will again organize meetings with Bulgarian business and the Bulgarian government,” he said, expressing hope that Bulgarian authorities will make the most not only of this company but also of others, and that these visits should not be appropriated for political PR campaigns.

Radev emphasized the strong working relationship with President Steinmeier, which has been ongoing for eight years.

This is President Radev’s third visit to Berlin, while the German President visited Sofia twice during his term.

The focus of the meetings has consistently been on deepening economic cooperation. “Germany is a strategic ally and a leading economic and investment partner. Dialogue at the highest level is essential for building trust across all areas of interest,” Radev said.

He added that politics must also bring about tangible, practical benefits, noting that the presidential institution has been working for over a year with the German Federal Association for Economic Development and Foreign Trade.

According to him, potential new areas for investment include aerospace manufacturing, electric mobility, electronics, energy, smart safety systems, and sustainable development.

On Wednesday, President Radev attended the opening of a new high-tech factory of the German arms manufacturer Rheinmetall in Unterluess, Lower Saxony.

The company plans, in cooperation with Bulgarian authorities, to open two plants in Bulgaria, one for ammunition and one for gunpowder, with an investment exceeding BGN 1 billion, the company’s CEO Armin Papperger said.

Radev noted that practical planning for these projects is now the responsibility of the executive branch, while the presidential institution has already done the crucial work of attracting this strategic investor to Bulgaria, convincing them that investment in the country is worthwhile and necessary.

“This process must be sustainable and move as quickly as possible,” the President said, adding that this involves not only the gunpowder and ammunition factories, but several other key areas. Cooperation with Rheinmetall will also continue in autonomous and drone systems, electronics, and military air transport technologies, where Bulgaria has significant potential. Radev warned that Rheinmetall’s investment could be delayed if the government does nоt do its homework.

Germany ranks as Bulgaria’s top foreign trade partner, according to statistical data. In 2024, trade between the two countries exceeded EUR 12.3 billion. Bulgaria’s main exports to Germany include machinery and equipment, electronics, textiles, chemicals, and food. Imports from Germany include automobiles, industrial machinery, electronic components, chemicals, and consumer goods.

As of January 2024, German direct investment in Bulgaria totals BGN 4.109 billion. Around 30% of the top 100 investors in Bulgaria are German or have German participation. The largest investments are in the automotive, mechanical engineering, trade, electronics, and electrical sectors.