site.btaEconomy Continues to Grow Despite Political Instability, Says InvestBulgaria Agency Head

Despite political instability, the economy continues to grow, said InvestBulgaria Agency Executive Director Mila Nenova, at the opening of the three-day 2024 Automotive Forum Bulgaria, held in Sofia Tech Park.

The main highlights of the forum are the breakthroughs and development of battery technologies, automation in the factories of the future, the transition to electric and autonomous mobility, artificial intelligence for intelligent mobility, software-defined vehicles.

Nenova pointed out that Bulgaria is a preferred country for research and development activities.

“We have talented people, very good engineers and trained personnel,” she said, adding that Bulgaria is a stable economic country, with GDP growth constant over the past 15 years, with the exception of only two.

Nenova pointed out that foreign investments are growing, the government debt remains low, and business investors are looking for the stability of the economy.

She noted that the quality of life in Bulgaria is quite good.

“Foreign companies that have invested in this country in the last ten years created economic growth and they are ambassadors of Bulgaria, because when a company invests here, it convinces its partners to invest as well,” Nenova noted.

She pointed out that this country is currently a very good place for investments, and this is also due to its strategic geographical location in times of wars in different parts of the world.

“The situation is still tense even after the COVID-19 crisis, and it is important to preserve the supply routes. Now is the time for Bulgaria to attract new investments, because we, as a relatively new member of the EU, are an attractive destination, we provide various guarantees for security and growth. Everything that is produced in Bulgaria is labeled as produced in the EU, and this gives access to the European and world markets,” she also noted.