Bulgarian IT Companies Can Met Qatar Funding

Bulgarian high-tech companies can apply for Qatar funding to expand their operations and to enter the global market. This was made clear during a meeting of Deputy Economy Minister Alexander Manolev with the Minister of Commerce and Industry of the State of Qatar Ali Bin Ahmed Al Kuwari and the President of Qatar Free Zone Ahmad bin Mohamed al-Sayed, the Ministry of Economy said.

It was agreed to provide additional information and detailed criteria on how and which companies can apply for such funding. Qatar has devoted serious resources to the development of the information and communication technology sector and is interested in attracting companies with the potential to grow.

"Bulgaria has the fastest growing ICT sector in Southeast Europe and that is certainly an area where we have a strong growth potential," said Deputy Minister Manolev.

He added, Bulgaria is among the world's fastest internet networks and the total turnover of services in the ICT sector has increased by 300% over the last 7 years and reached 2.5 billion euros.

"Every year, Bulgarian universities prepare over 4,000 specialists for this sector. So it is an industry in which we have serious traditions and I hope an even bigger future, "said the economic deputy minister.

During the meetings the opportunities for investment in Bulgaria and the advantages that our country can offer - an attractive tax system, qualified staff, a number of incentives, access to the single European market and a number of others were presented.

"In order to have sustained results in our bilateral economic relations, it is very important to create even more prerequisites for the business of the two countries to meet and exchange information," said Deputy Minister Manolev.

He invited his Qatar hosts to visit our country in the second half of the year together with business representatives.

Deputy Minister Manolev is in Qatar headed by a business delegation comprising 30 of our companies. The visit is part of the official visit of the President of the Republic of Bulgaria Rumen Radev to the Lebanese Republic and the State of Qatar.

He also participated in a meeting with the Qatar Investment Fund, during which several specific investment projects were offered to Bulgaria.

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