NEWS

Continuity between institutions is needed for the implementation of the strategic projects for this country, which contribute to the introduction of innovation and green policies in production, but also to the continuous improvement of the social standard and working conditions of workers, President Rumen Radev said in Shumen at the official launch of a project to expand the production base of Alcomet, the largest producer of aluminium products in Bulgaria and the Balkans. The investment project, worth BGN 140 million, has been certified as a priority and provides for the creation of 160 new jobs within its implementation over 3 years. Among the guests at the opening ceremony were the Mayor of Shumen Hristo Hristov and Turkiye's Ambassador, H. E.  Mehmet Sait Uyanik. Together with the owners of Alcomet, Fikret Ince and Fikret Kuzucu, the Head of State started laying the foundations of the new production. 

 

In his address, the head of state pointed out that the certification process of the project started during the caretaker government of Galab Donev and was successfully completed under the last regular government.  With the efforts of the local government, the enterprise proves that it can develop a successful innovative business in Bulgaria, which can simultaneously increase its competitiveness and introduce policies to support the circular economy, but also be an example of corporate social responsibility with social and community projects in health, education, sports and culture, the President said. He noted that the company's activities promote the development of higher education in the region and play an important role in overcoming regional imbalances and improving the country's demographic picture.

 

The launch of the project today is a testimony to the upward trend in the development of bilateral relations between Bulgaria and Turkiye, which is this country's largest trade and economic partner outside the European Union, Radev further said. He pointed out that at his first meeting with his Turkish counterpart, Recep Tayyip Erdogan, the trade and economic exchange amounted to nearly EUR 4 billion, while the two had set a target of 10 billion and today it has already exceeded 7 billion. In Radev's words, the investment climate in the country is improving and besides the fact that last year foreign direct investments grew by nearly 40 per cent on an annual basis, there is also an upward trend that the share of profit reinvested in the country is growing, which is an indicator of business confidence. 

 

During his visit to Shumen, the President held a session with the management of Industrial Park-Shumen JSC. The Head of State also visited two foreign enterprises with production facilities in the country - high-tech communication cables and food storage products.

 

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