NEWS

Rumen Radev: The Institutions of Bulgaria and Saudi Arabia Should Encourage Contacts between Businesses from the Two Countries

The institutions of Bulgaria and Saudi Arabia should create the prerequisites for promoting contacts between businesses both through the exchange of economic delegations and the holding of joint business forums, as well as through advertising investment opportunities in the two countries. This was stated by President Rumen Radev at a meeting with the Minister of Investment of Saudi Arabia Khalid A. Al- Falih. The Bulgarian head of state is visiting Riyadh at the invitation of the Crown Prince and Prime Minister of the country Mohammed bin Salman to participate in the Ninth edition of the Future Investment Initiative forum.

During the meeting, high technologies, robotics, mechatronics, the development of artificial intelligence, space exploration and tourism were highlighted as particularly promising areas of bilateral cooperation between Bulgaria and Saudi Arabia. In both countries, there are companies that are developing rapidly in these areas, which creates favourable conditions for the implementation of joint projects. President Radev highlighted the activities of the Institute for Computer Science, Artificial Intelligence and Technologies in Sofia, as well as the planned creation of a gigafactory for artificial intelligence in our country, and Minister al-Khalid expressed Saudi Arabia's readiness to share its experience in the practical application of calculations made using a supercomputer.

The opening of a direct air route between Bulgaria and Saudi Arabia will create a qualitatively new environment for both business and the promotion of tourism and cultural exchange, was the common position during the meeting. The enhanced institutional dialogue and the implementation of joint projects are the prerequisites that lead to the materialisation of such an opportunity and its sustainability over time, it was also noted at the meeting.

President Radev and Minister Al Khalid also discussed opportunities to strengthen the bilateral partnership to improve regional connectivity by modernising and expanding the existing transport, energy and digital infrastructure.