NEWS

At a Business Forum in Bucharest President Rumen Radev Presented Bulgaria’s Investment Advantages

Today President Rumen Radev presented Bulgaria’s investment advantages at a Romanian – Bulgarian business forum attended by more than 100 companies from the two countries. Together with his Romanian counterpart President Klaus Johannis, the Bulgarian Head of State confirmed the readiness of the institutions in the two countries to work so as to ensure a better connectivity between Bulgaria and Romania which serves the people’s and the businesses’ interests. Skilled labor, favorable taxation, the boom in the IT sector were highlighted as Bulgaria’s competitive advantages in Southeastern Europe.

In the statement he made at the forum, Rumen Radev focused on the policies pursued to create an even better investment climate in our country. “There is a macroeconomic financial stability in Bulgaria, which is a prerequisite for achieving a higher GDP growth and we are working to reduce the administrative burden and stimulate SMEs,” the President said.

The Head of State told the participants in the forum that Bulgaria has achieved a considerable GDP growth in the past year, which is 3,4 percent and exceeds the EU average. Also a low inflation rate and a relatively low unemployment rate of about 7 percent have been achieved. The President further said that the reforms launched in the vocational education and training sector and the promotion of the ties between the educational institutions and the business, are an additional factor contributing to attracting investments.

“This positive trend of the economic growth in Bulgaria is a guarantee that your business will find a good place for the implementation of new projects,” Rumen Radev addressed the representatives of the Romanian companies. The President recalled that at the end of 2016 the world credit rating agencies confirmed Bulgaria’s long-term credit rating and good economic prospects.

“Bulgaria has a considerable economic presence in Romania and the hundreds of Bulgarian companies that make investments and do good business prove this fact,” the Head of State further said. President Radev also highlighted the trend towards growth of the number of Romanians that visit Bulgaria – 1.1 million in 2016 – and also of Bulgarians that visit Romania – more than 400,000 over the same period. “This is a very important indicator that shows that our citizens take advantage of the good relations in every sphere. We should follow the example they have set,” President Rumen Radev further said at the Romanian-Bulgarian business forum.

President Klaus Johannis pointed out that bilateral trade has increased by 7 percent only in the past three years and this proves the two countries’ high potential.  Klaus Johannis further recalled that 29 June is the International Danube Day and called for promptly implementing the joint projects for building new bridges and developing the transport infrastructure that connects Bulgaria and Romania.