site.btaInnovation Minister, Turkish Ambassador Discuss Investment Cooperation

Bulgaria's caretaker Innovation and Growth Minister Rosen Karadimov and Turkiye's Ambassador Mehmet Sait Uyanik Monday discussed ways to deepen cooperation in investment and in trade and economic relations, Karadimov's Ministry said.

The Innovation and Growth Minister said Turkiye is one of Bulgaria's leading trading partners, emphasizing the proactive role of Turkish investors in this country. Karadimov said two Turkish companies would create 960 jobs.

On August 21, the Council of Ministers approved a Memorandum of Understanding between the Bulgarian Government and Smart Solar Technologies A.S. on the implementation of a priority investment project for the construction of a plant manufacturing solar panels and cells in the Elenino Village, Stara Zagora Municipality (Southeastern Bulgaria). The Turkish company will invest BGN 240 million and 800 jobs are to be created. The plant's output will be exported mainly to Germany, the Netherlands, Italy and Austria.

Also, 160 jobs will be created by the implementation of Alcomet's project for expansion of the product mix through the installation of a continuous casting line, profile production lines, a universal foil mill and associated facilities. The investment in Shumen (Northeastern Bulgaria) will top BGN 136 million. Alcomet received a certificate for this priority investment project in March 2024.

Karadimov and Ambassador Uyanik discussed ways for the Innovation and Growth Ministry to promote investments and certify projects under the Investment Promotion Act.

The sides emphasized the good cooperation between the two countries and future joint initiatives for the development of enterprises.

Deputy Innovation and Growth Minister Krasimir Yakimov, the Head of Political Cabinet, Maria Petrova, and the Commercial Counsellors at the Turkish Embassy attended the meeting.