site.btaPresident Radev Outlines Bulgaria's Investment Advantages at Business Forum in Bucharest

President Radev Outlines Bulgaria's Investment Advantages at Business Forum in Bucharest

Sofia, June 29 (BTA) - President Rumen Radev on Thursday presented Bulgaria's investment advantages at a Romanian-Bulgarian business forum attended by over 100 business representatives. Together with his Romanian counterpart Klaus Iohannis, the Bulgarian head of state reaffirmed the readiness of the institutions in both countries to work for a better connectivity between Bulgaria and Romania in the interest of the people and businesses. Skilled labour, low taxation, the IT boom were outlined as Bulgaria's competitive advantages in Southeastern Europe.

In his remarks at the forum Radev highlighted policies which are implemented in order to improve conditions for investments. "Bulgaria has macroeconomic financial stability which is a prerequisite for a higher GDP growth. We are working to reduce the administrative burden and promote small and medium-sized businesses," said the President.

The Bulgarian head of state underscored that in the past year Bulgaria has achieved a considerable growth in GDP at 3.4 per cent, exceeding the EU average, low inflation and a 7 per cent rate of unemployment. The President also said that the reforms undertaken in vocational education and the promotion of ties between the educational institutions and businesses are another factor for attracting investments.

The President recalled that at the end of last year the credit rating agencies reaffirmed Bulgaria's long-term credit rating and its good economic prospects.

President Radev noted a trend for an increase in the number of Romanians who visit Bulgaria at 1.1 million in 2016 and of Bulgarians to Romania, at over 400,000. "This is a very important indicator which shows that our citizens take advantage of the good relations in every sphere. We should follow in their steps," said Radev.

President Klaus Iohannis said that in the past three years alone two-way trade has increased by 7 per cent which proves the high potential of both countries. Iohannis also recalled that June 29 is the International Danube Day and called for swifter implementation of the common projects for new bridges and development of transport infrastructure between Bulgaria and Romania.