site.btaInnovation Minister Karadimov Opens Balkan Business and Investment Forum

Caretaker Minister of Innovation and Growth Rosen Karadimov opened the Balkan Business and Investment Forum in Edirne, Turkiye, and held meetings with two Turkish ministers, Karadimov's Ministry said on Thursday.

Economic cooperation between the Balkan countries is key to sustainable growth and stability in the region, Karadimov said. "We have huge potential that we can develop together," he noted at the opening. The Bulgarian Innovation Minister participated in the conference at the invitation of the organisers, Turkiye's Minister of Industry and Technology Mehmet Kacir and Minister of Trade Prof. Dr. Omer Bolat.

"Turkiye is among the leading economic partners of Bulgaria. Last year our trade reached an impressive EUR 6.6 billion, making the Turkish State the fifth largest market for Bulgarian exports," Karadimov said. He pointed out that so far 36 Turkish investors have been certified under the Investment Promotion Act, which are worth over BGN 1.7 billion, creating over 5,600 new jobs in Bulgaria.

Rosen Karadimov told the participants from the Balkan countries that his Ministry promotes innovation and supports businesses through various instruments. He also highlighted his Ministry's support for industrial parks in Bulgaria. The Innovation and Growth Ministry is funding 11 industrial parks and zones with a total of EUR 105 million under the National Recovery and Resilience Plan. "We are actively working on the creation of a national programme for the development of industrial parks in 2025," he told investors.

Regarding the Bulgarian Development Bank, Karadimov said that with its new strategy it could be an active participant in the implementation of key state policies.

"With all these instruments, we are ready to cooperate with Balkan countries to deepen trade relations. Improving transport and logistics infrastructure, both physical and digital, will facilitate economic growth and stability," Karadimov said.

Deputy Minister of Innovation and Growth Krasimir Yakimov also participated in the discussions on Bulgaria's investment potential and partnership with the Balkan countries. He pointed out that Turkiye is a priority investor. "For 2024 we have certified two investment projects of Turkish companies in Bulgaria for over BGN 250 million, which will create over 850 new jobs in Shumen (northeastern Bulgaria) and Stara Zagora (southern Bulgaria). By 2023, financial incentives of BGN 54 million have been secured for seven projects with Turkish participation certified under the Investment Promotion Act," Yakimov further specified.

During the forum Deputy Minister of Innovation and Growth Prof. Georgi Angelov participated in a discussion on the development of start-up companies in the region.

The forum was attended by ministers and deputy ministers from countries in the region, the Mayor of Edirne, the Executive Director of the InvestBulgaria Agency, Mila Nenova, Deputy Chairwoman of the Supervisory Board of the Bulgarian Development Bank Delyana Ivanova, more than 30 Bulgarian companies organized by the Executive Agency for Small and Medium Enterprises of the Ministry of Regional Development, representatives of Turkish business, as well as heads of chambers of commerce.

Within the framework of the forum, Minister Karadimov held meetings with Turkiye's Minister of Industry and Technology Mehmet Kacir and with Minister of Trade Prof. Dr. Omer Bolat. The excellent partnership between Bulgaria and Turkiye was highlighted during the meeting. Opportunities for deepening economic relations and cooperation, attracting investments and developing industrial zones were also discussed.