Deputy Ministers Mincheva and Angelov held a meeting in the Ministry of Innovation and Growth with representatives of the Bavarian State Ministry of Economy, Regional Development and Energy
Between Bulgaria and Bavaria, long-standing active economic ties have been established in a number of areas. Bavaria is among the three German federal states with the largest presence in terms of investments in Bulgaria and with the highest share in bilateral trade. Over 940 Bavarian companies develop production and commercial activities in our country. Among them are technology companies, leading companies from the automotive sector, as well as small and medium-sized companies from various sectors of the economy. At the Ministry of Innovation and Growth, we are actively working to attract investment, especially in high-tech industries. This was stated by the Deputy Minister of Innovation and Growth, Veselina Mincheva, during a meeting with representatives of the Bavarian State Ministry of Economy, Regional Development and Energy in the Ministry of Innovation and Growth.
The meeting was attended by Prof. George Angelov, Deputy Minister of Innovation and Growth; Tobias Gotthard, Secretary of State; Urzula Heinzer, Deputy Director of the Europe Directorate; Sonia Miklai, general manager of the German-Bulgarian Chamber of Industry and Commerce and representative of Bavaria in Bulgaria; Catherine Lederer, Executive Director of the Nuremberg Fair, Moritz Seiler, Head of the Economic Department at the German Embassy in Sofia and representatives of the Bulgarian Investment Agency at the Ministry of Innovation and Growth.
The two sides discussed the deepening of Bulgarian-Bavarian economic relations and measures to attract investments.
Bulgaria has the economic potential to develop as a regional leader in the field of digital technologies and innovations, Deputy Minister Mincheva also pointed out.
Prof. Angelov said that in our country there is sustainability in priority areas such as high technologies, microelectronics, defense innovations. He particularly emphasized the development of space technologies and the new opportunities for the sector. He stated that the ecosystem in Bulgaria is developing and the Ministry supports business through various financial instruments.
Angelov added that this week he participated in a forum with representatives of over 50 Bulgarian and Bavarian IT companies in Munich, encouraging them to upgrade partnerships through new projects.
On the Bavarian side, they declared willingness for cooperation in the field of microelectronics, artificial intelligence and space sector. State Secretary Gotthard also said that cooperation between start-ups is a good basis for interstate cooperation because of their desire to gain experience from each other.
In the last three years, projects of German investors in Ruse, Vidin and Sofia in the automotive industry and the IT sector have been certified. By the end of 2023 14 certified projects with the participation of German investors have been encouraged with various financial measures by our country.
