NEWS

 

 

At a meeting with the head of State, representatives of the Three Seas Initiative Investment Fund expressed their intentions to build data centres in Bulgaria

 

In recent years, Bulgaria has increasingly established itself as a regional hub for information technology development and has the ambition to further develop this sector. The expansion of the digital infrastructure in this country and the creation of data centres to be used by companies will create new incentives for investors and will qualitatively change the business environment. This is what President Rumen Radev said at a meeting with representatives of the investment consultant of the Three Seas Amber Infrastructure Group Initiative fund and the Estonian company Greenergy Data Centers, working to create energy-efficient data centres powered by green energy. The meeting was also attended by representatives of the Bulgarian Development Bank, which is among the shareholders in the Investment Fund. 

 

The representatives of Amber and Greenergy Data Centers briefed the head of State on the signed letter of intent to build two digital centres in the country with funds from the Three Seas Fund. It is crucial for companies planning to implement investment projects to have reliable, fast and secure access to information in data centres in a given region, they stressed. 

 

Connectivity projects in digitalisation, science, education, technology and innovation have the potential to strengthen connectivity in Central and Eastern Europe, quickly recoup the money invested in them and create new high added value jobs, the head of State said. Rumen Radev added that projects in these areas were a priority, which Bulgaria included in the objectives of the Three Seas Initiative during its hosting of the initiative.

 

The head of State also recalled that it was time for Bulgaria to benefit from the advantages it has in order to attract more and better foreign investors, especially in the field of information technologies. The President highlighted the achievements of Bulgarian fintech companies, the opening of centres for managing the activities of international banks and companies in this country, the recently opened INSAIT Institute for Computer Science, Artificial Intelligence and Technology in Sofia, as well as the increasingly fast-growing field of information technology, which attracts proven experts from all over the world.

 

In his speech, the president pointed out that Bulgaria highly values its relations with Iraq, which is an important partner in the Middle East region

Taking advantage of their geostrategic position, Bulgaria and Georgia have the potential to deepen their connectivity in various areas such as transport, energy, and the digital sector, which will contribute to promoting the economy, investment, and prosperity in the Black Sea region. This was stated by President Rumen Radev, who held a meeting with the Speaker of the Parliament of Georgia, Shalva Papuashvili.

The two were unanimous that restoring peace in Europe through diplomacy is a priority for the EU and the only way to ensure the long-term security and stability of the Old Continent.

The President recalls that the institution of the Special Commercial Administrator (SCA) was introduced by an Act adopted in 2023, which also established a number of safeguards against potential abuse and arbitrariness — safeguards of the kind already adopted in other European states faced with similar circumstances, with the objective of minimising the risk of subsequent financial claims against the State