Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Pulev held a meeting with the President of the American Chamber of Commerce in Bulgaria (AmCham Bulgaria) Tommy Ver Elst and the CEO Ivan Mihaylov. During the meeting, the opportunities for deepening the economic partnership, attracting new investments and promoting innovations, the development of artificial intelligence and technology transfer were discussed.
„The United States is a key strategic partner for Bulgaria – both geopolitically and economically, in a number of sectors with high added value. Our door is open to American business and we are ready for any form of interaction“, said Deputy Prime Minister Pulev.
Among the priority sectors were highlighted energy, artificial intelligence, innovation, technology transfer and the development of high-tech industries. The Deputy Prime Minister noted that Bulgaria has the potential to attract more investments with high added value by using the available European and national instruments more actively.
The Deputy Prime Minister emphasized that the state has already provided the necessary institutional architecture for better coordination and faster service to strategic investors. According to him, the goal is to have a clear point of contact for business and more effective coordination between institutions and financial instruments. “We aim to provide full support – administrative and with accelerated service – to strategic partners. Any incentive measures, processes and coordination that we can provide“, Pulev pointed out.
During the meeting, emphasis was also placed on stimulating innovative companies and industries through appropriate incentive measures. “We are studying all types of incentive measures that are relevant and applicable within the EU, as well as on a global scale“, Pulev said.
He stressed that when preparing such reforms, it is necessary to conduct a specific analysis of the costs and benefits, so that each measure is justified by real economic effects. “We already have strong interest from international research and development centers in Bulgaria. It is important for us to develop technology transfer and create real added value for the Bulgarian economy“, he said.
AmCham stressed the importance of the stability and predictability of the business environment for investors. During the conversation, it was emphasized that long-term investment decisions require clear rules, sustainable policies and a predictable regulatory environment. The business organization representatives also pointed out the need to maintain Bulgaria's competitiveness by promoting innovation and using appropriate incentives for business.
The new bill on public-private partnerships, prepared by the Ministry of Economic Development and Trade, was also discussed as a key tool for the country's modernization. Minister Pulev emphasized that the framework should mobilize both public and private capital and create a practically working mechanism for the implementation of infrastructure projects. “We need to find ways to mobilize private capital in order to carry out a comprehensive modernization of the country's infrastructure - in energy, transport and connectivity. We want this to be a truly practical and workable framework," he said.
The possibilities for further invigorating economic relations between Bulgaria and the United States by organizing joint business delegations and forums that would create new opportunities for direct contacts between companies from both countries were also discussed.