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Radev: Every Investment from Japan in Bulgaria Is Valuable because It Is a Business Model that We Can Follow for Even Higher Results

The head of state participated in a business forum in Tokyo, which was attended by representatives of nearly 150 Japanese companies

Every investment from Japan in Bulgaria is valuable because the Japanese model of doing business is an example that we can follow in order to achieve even higher results. This was stated by President Rumen Radev during a business forum in Tokyo, organized by the Bulgarian Embassy in Japan and the Japan External Trade Organization JETRO. The head of state, who is on an official visit to Japan, held a meeting at the JETRO headquarters with the organisation's chair Norihiko Ishiguro and its president Susumu Kataoka.

The focus of the meeting and the economic seminar was the prospects for bilateral trade and economic relations between Bulgaria and Japan. The forum was attended by representatives of Bulgarian business in the field of industry, high technologies and scientific research, part of the delegation led by President Rumen Radev in Japan, as well as representatives of nearly 150 Japanese companies that are interested in implementing their projects in our country. The Head of State urged them not to hesitate and invest in Bulgaria, highlighting the advantages that our country provides to foreign investors, including a strategic geographical location, educated and prepared young people and a favourable tax system. Rumen Radev indicated that the presidential institution would continue to assist in the fruitful cooperation between Bulgarian and Japanese business.

We are not here to seek trade opportunities, but partners and friends to build successful long-term cooperation in various areas of mutual interest, the President emphasised, adding that the prerequisites for building a fruitful partnership are political will and support, as well as shared values, and these are present in the relations between Bulgaria and Japan. The Head of State recalled his meetings with Emperor Naruhito in 2019 and during his current visit to Japan, as well as with Prime Minister Shinzo Abe, and stressed that these meetings and today's signing of a Declaration on the Establishment of a Strategic Partnership with Prime Minister Shigeru Ishiba are proof of the solid political foundation on which the partnership between Bulgaria and Japan will continue to develop.

The President highlighted the Bulgarian IT sector, which boasts the largest number of specialists in this field per capita in all of Europe. The Head of State also noted that among the advantages of our country is the only institute in the Balkans specialising in the development of artificial intelligence, INSAIT, operating in Bulgaria. The institute attracts some of the greatest minds and talents from leading academic, research and business organizations from around the world. In 2023, INSAIT and the National Research Agency of Japan RIKEN signed a memorandum providing for work on projects, joint research and doctoral programs in the field of artificial intelligence, robotics, machine learning, computer vision, etc. In 2024, the Japanese company Toyota announced that it would fund INSAIT's research in the field of robotics and artificial intelligence.

Preliminary data for 2024 indicate that the total trade with Japan amounts to USD 270.4 million, including exports worth nearly USD 90 million. Our country exports to Japan mainly products with high added value such as integrated circuits and electronic micro-assemblies, electrical transformers and converters, medical instruments and apparatus, chemical products and essential oils. Leading Japanese investments in our country are in companies operating in the field of automotive, electronics, energy, medical equipment, etc.

Earlier, the head of state held a meeting with the management of the Japanese technology company Toshiba, at which opportunities for cooperation and investment in various energy projects in Bulgaria were discussed, including the renovation of the Chaira PVPP.