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Rumen Radev at the Economic Forum in Berlin: Bulgaria Will Continue to Reaffirm its Image as a Promising Destination for Investments and a Stable European Country

“The good business relations between our two countries are a bridge on which the good relations in science, education, culture and all other spheres of public life are walking. This is the bridge on which the relations between our two peoples are built and these relations have deep historical and spiritual roots.” This is what President Rumen Radev said in Berlin at the opening ceremony of the Economic Forum for Bulgaria. Representatives from over 100 German companies are attending the event organized by the German Chamber of Industry and Trade. 

The Head of State emphasized that his first official visit as Bulgarian President is namely in Germany. “This fact is of crucial importance both for me and for all Bulgarians because for us Germany is a traditional strategic partner,” Rumen Radev said.

In the President’s words, Bulgaria will continue to build its image in Germany as a promising destination for investments and as a stable European country. “I realize that Europe is facing a lot of challenges not only in the security sector, but also in terms of its economic development, in a world where access to resources is becoming increasingly limited, as well as the access to qualified labor. Hence it is important that we pool our efforts. The results of our cooperation are really impressive. Given that Germany’s GDP stands at three trillion euros, a trade worth six billion is extremely small. Nonetheless for Bulgaria such trade is important because it comes in the form of investments that guarantee the long-term development of important productions and technologies,” the Head of State further said. Rumen Radev also highlighted Germany’s contribution to the introduction of a vocational training for the young Bulgarians.

President Radev was adamant that despite the upcoming general election in March, Bulgaria is stable. “We are an island of stability in the whole Balkan region, we enjoy political stability, we have clear priorities and I am sure that they will remain such after the election of a legitimate next government. What Bulgaria achieved with German help as well is impressive – we have a real economic growth that comprises about 3.5 percent of the GDP, an inflation rate about zero percent, an unemployment rate of eight percent, which will hopefully fall, growth of exports, which is a good sign of the Bulgarian economy. We can hope for better results, yet in our capacity of the country’s political leadership, it is important that a good business climate is created, that investments are attracted, and that people are convinced that Bulgaria is worth investing in,” Rumen Radev told the representatives of the German business.

The Head of State also said that the would-be investors will take advantage of a lot of positive factors such as Bulgaria offering one of the lowest tax rates in the EU, and also the Bulgarians’ willingness to develop their state. “We have not yet managed to create the transparent environment which you expect us to create, following the rules of the German business. Not all regions in Bulgaria offer an appropriate infrastructure for investments, and there is a shortage of qualified labor force. We have outlined our road map, we know what tasks we have, my role as President is to pool the efforts of the institutions and society at large to launch a bitter fight against corruption and crime. I am convinced that Bulgaria will soon achieve positive results,” President Radev said in his statement.

The President pointed out that Bulgaria does its best to absorb the EU funds in the best possible way in order to build state-of-the-art infrastructure that will facilitate the development of the business, and also of education and science.

In his speech at the forum Rumen Radev thanked Germany and the German business for everything they do for Bulgaria. “The investments that have been so far made in Bulgaria in terms of net value are not the most important thing. What is most important is that together with these investments a new model of public relations is introduced, a model of public intolerance towards the deficiencies, a model that lowers our threshold of tolerance to corruption. This model creates a vison how a modern European society should look like,” the Bulgarian Head of State said.

“The international credit rating agencies gave their positive assessment for Bulgaria with regard to economic growth prospects, among other indicators. I am hereby telling you that we are open to dialogue and cooperation. You will find a good basis which will guarantee return on investments. It is my belief that Germany will continue to be active vis-a-vis investments in Bulgaria,” Rumen Radev said.

President of Bulgaria Rumen Radev is on a one-day official visit to the Federal Republic of Germany and will later on hold talks with Gernot Erler, chairman of the German-Bulgarian Forum, and also with Bishop Antonii – Metropolitan of West and Central Europe.