Bavarian Investors Increasingly Interested in Bulgaria – Minister Ilse Aigner

Bulgaria's Economy Minister Bozhidar Lukarski met Monday with Ilse Aigner, Bavarian State Minister for Economic Affairs, Media, Energy and Technology. Photo by Bulgaria's Economy Ministry

Bulgaria is attracting increased investor interest from Bavarian companies due to the political stability and the clear reform efforts by the government regarding the spheres of judiciary and public administration, according to Ilse Aigner, Bavarian State Minister for Economic Affairs, Media, Energy and Technology.

Aigner met Monday with Bulgaria’s Economy Minister Bozhidar Lukarski, according to a media statement of Bulgaria’s Economy Ministry.

Lukarski emphasized that the political stability and the economic growth achieved by the current government in just eight months made Bulgaria a promising investment destination for German investments.

He claimed that Bulgaria’s advantages stood out against the backdrop of the recent developments in Greece, Macedonia, and Romania.

Aigner pointed out that local companies were looking for stability and an efficient public administration.

She said that Bavarian investments in Bulgaria would be directed towards the IT sector, mechanical engineering, and the automotive industry.

Aigner also made clear that a business delegation headed by Franz Josef Pschierer, State Secretary at the Bavarian Ministry of Economic Affairs and Media, Energy, and Technology, would pay a visit to Bulgaria in October, adding that nearly 40 Bavarian companies had applied to take part in it so far.

The participants in Monday’s meeting also discussed the opportunity to sign a memorandum on cooperation between the InvestBulgaria Agency and Invest in Bavaria and Bayern International in a bid to boost investments of Bavarian companies in Bulgaria.

The dual vocational educational system was also cited as a sphere for potential cooperation between Bulgaria and Bavaria, with Aigner proposing trainings for Bulgarian specialists in Germany.

Speaking at an economic forum later the same day, Pschierer underscored that many Bavarian companies had seen Bulgaria’s potential and were making long-term investments in the country.

He said that Bavaria’s economic policy would focus on digitalization in a number of spheres, including the industry, mobility networks, IT security, energy, healthcare, and the media.

Pschierer argued that Bulgaria offered interesting opportunities for partnership in the fields of biotechnology and solar modules.

During the meeting, Bavarian companies in the spheres of IT, automotive industry, pharmaceuticals, renewable energy, and railway transport expressed interest in investing in Bulgaria.

Munich Airport was said to be interested in concession opportunities for Sofia Airport.

Bavarian business representatives mainly asked questions related to the availability of skilled human resources and the measures aimed at encouraging start-ups and small and medium-sized enterprises.

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