Innovation Minister Presents Investment Opportunities in Bulgaria to Nearly 50 Turkish Companies

Innovation and Growth Minister Milena Stoycheva presented investment opportunities in Bulgaria to nearly 50 representatives of Turkish companies, the Innovation Ministry said in a press release on Saturday.

Minister Stoycheva and the Executive Director of the InvestBulgaria Agency Mila Nenova participated on Friday in a meeting with Turkish businesses in Istanbul at the invitation of the Turkish-Bulgarian Business Council of the Foreign Economic Relations Council of Turkiye (DEİK). The Consul General of Bulgaria in Istanbul Vasil Valchev also participated in the meeting.

Stoycheva emphasized the traditionally good trade and economic relations between Bulgaria and Turkiye. The trade in goods between the two countries in 2022 amounted to more than USD 7 billion and Turkish investments in Bulgaria are worth more than USD 3 billion, she said.

Stoycheva said that her Ministry has identified five areas for smart specialisation where it is focusing its efforts – information and communication technologies; mechatronics and microelectronics; healthy living industry, bioeconomy and biotechnology; creative and creative industries,circular and low-carbon economy.

“Bulgaria ranks third in IT specialists. We have a huge potential that needs to be encouraged,” she stressed. She further presented the financial instruments managed by her Ministry. Stoycheva emphasised that the financial resources at the disposal of the Ministry encourage businesses in the country to innovate and increase production. As an example, the minister pointed out that the two EU programmes managed by her Ministry are worth over BGN 5 billion.

“Bulgaria is our strategic partner and Turkiye’s gateway to Europe,” said Zeki Saribekir, chairman of the Turkish-Bulgarian Business Council of the Foreign Economic Relations Council of Turkey (DEİK). In his words, Bulgaria has logistical potential and information infrastructure that supports trade flows and opens new opportunities for cooperation.

Nenova stressed that Bulgaria and Turkiye can cooperate by taking advantage of their strategic location. “In this way we will strengthen our own economies and contribute to a more stable future for the region,” Nenova added. She presented in detail the opportunities and prospects for investment in Bulgaria.


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