NEWS

Bulgaria Offers Considerable Opportunities To the Qatari Business To Launch New Projects

Thanks to the attractive conditions Bulgaria offers to foreign investors and thanks to its strategic location, the country may become the starting point for implementing new Qatari business projects in Southeast and Central Europe. This is what President Rosen Plevneliev said, who held talks with representatives of the Qatar Chamber of Commerce and Industry and the Qatari Businessmen Association in Doha. The Head of State emphasized that by improving the transport and energy infrastructure in Bulgaria and the region and by modernizing the industrial zones, our country has the ambition to strengthen its position as a production and transport hub in Southeast Europe.

“Although we have achieved a lot to develop the political and economic relations only two years after Qatar’s embassy was opened in Sofia, we expect a lot more results in the future,” the President said. He called on the business circles in the two countries to speed up the implementation of more joint projects in the outlined priority sectors – food production, energy and construction.

In 2013 Bulgaria achieved a 40-percent growth in the export of agriculture products and this fact brings reassurance about the increasing capabilities of the Bulgarian companies. The President emphasized that not only the state, but also the EU funds support the investments made in agriculture. “In 2016 the EU subsidies for the Bulgarian agriculture are expected to reach 1.3 billion euros and this suggests a sustainable long-term growth in the sector,” Rosen Plevneliev forecast.

In a mere five years Bulgaria managed to build 2,000 MW production capacities from renewable energy sources and currently our companies have the opportunity to share their experience, the Head of State further commented. “Although we do not claim to be Qatar’s biggest partner in this sector, we can certainly be among the most competitive and reliable ones,” the President further pointed out. Rosen Plevneliev confirmed Bulgaria’s interest in buying natural gas from Qatar and in pooling efforts together with the Southeast and Central European countries to ensure energy diversification by building a liquefied gas terminal on the territory of Greece. “The trade may quickly increase if this project is implemented,” the President said.   

The opportunities for the development of high technologies were also presented at the meeting. The Head of State emphasized that this is one of the most dynamic and quickly-developing sectors in Bulgaria enjoying a sustainable annual growth and having more than 25,000 employees in the branch.
“Qatar is opening to the whole world and is currently implementing big infrastructure projects, which change the country’s image. This creates a lot of opportunities for participating in successful projects. We hail the interest the Bulgarian companies show in these projects,” Mohammed Al Kuwari, deputy-chief of the Qatar Chamber of Commerce and Industry said.

Qatar is planning to invest 20 billion dollars in its road infrastructure by 2017 and a new port is due to be constructed by 2016. The center of Qatar’s capital is currently renewed and more than 5 billion dollars are invested in the “Heart of Doha” project. “We are preparing to host the World Football Championship in 2022 and nine new stadiums will be built to this effect. This also creates a lot of opportunities for the foreign investors,” Mohammed Al Kuwari added.

A lot of opportunities for investments in Bulgaria were presented at the forum and talks between representatives of Bulgarian and Qatari companies were held.

On the last day of his official visit to Qatar, 12 March, President Rosen Plevneliev will hold meetings with Mohamed bin Mubarak al-Kholaifi, chairman of the Consultative Assembly of Qatar and with Ahmad Mohamed Al-Sayed, CEO of the Qatari State Investment Corporation “Qatar Holding”.

Rosen Plevneliev will also visit the Museum of Islamic Art in Doha.