NEWS

President Rumen Radev Invited the Portuguese Business to Increase its Investments in Bulgaria

Boosting the bilateral trade between Bulgaria and Portugal is a shared goal between the institutions of the two countries. However, sustainable results can be achieved not only by conducting trade, but also by increasing the mutual investments, establishing joint ventures and ensuring joint production targeted at third markets. This is what Head of State Rumen Radev said at a working meeting with representatives of Portuguese companies planning to invest or expand their presence in Bulgaria. In the President’s words, the Bulgarian companies, with their traditions and expertise in IT, communications, energy, tourism and food production, can be partners of the Portuguese business in the implementation of new projects.

Although Bulgaria and Portugal are not big markets, they have the potential to pool efforts so as to increase the export of their companies in Europe and other regions, the business representatives said. One of the Portuguese companies has purchased plants for the production of glass packaging in Bulgaria and is planning to invest a further 300 million euros to expand its facilities and also to set up a regional management and accounting office.  As Bulgaria’s main advantage in the EU, the business representatives highlighted the high-quality specialists, who are increasingly more difficult to find in our country because of the demographic crisis and emigration.  

The creation of an electronic platform for exchanging information between the investment promotion agencies in the two countries and also the organization of joint business and information forums for presenting the opportunities the business has, were also discussed at the talks.

The meeting was attended by the CEO of the Bulgaria Investment Agency Stamen Yanev, the CEO of the National Company Industrial Zones Antoaneta Bares, the Administrator of the Agency for Investments and Foreign Trade Portugal Global Antonio Silva,   the Chairman of the Portuguese Chamber of Commerce and Industry Bruno Bobone, the Head of the EIB group office in Lisbon Kim Kreilgaard, heads of companies in the sphere of tourism, energy, communications, food production and packaging.