site.btaEconomy Minister: Austria Remains Key Economic Partner for Bulgaria with Over EUR 5.2 Bln in Investments

Austria is one of Bulgaria's key economic partners, Bulgaria’s Minister of Economy and Industry Petar Dilov said Monday during a meeting here with Austrian Ambassador Andrea Ikic-Bohm. The meeting revealed that around 10% of Bulgaria's largest foreign investors are Austrian companies, active in nearly all sectors of the economy. Austrian investments in Bulgaria exceed EUR 5.2 billion, and approximately 350 Austrian companies have representative offices in this country, the Economy Ministry said. 

The two officials discussed cooperation in sectors such as microelectronics, automotive, innovation, and energy, as well as dual education. They also agreed that despite an increase in trade over the last decade, there is still potential for deeper collaboration and joint projects, especially after Bulgaria's full membership in the Schengen Area.

The Economy Minister emphasized ongoing efforts to reduce administrative burdens and improve the business environment, as well as to restore confidence in Bulgaria as a reliable partner and investment location.

The Austrian Ambassador noted that the two countries have strong and intensive economic cooperation. She presented the results of the annual survey conducted by Advantage Austria among Austrian companies operating in Bulgaria, stressing the importance of stability, predictability, and reduced bureaucracy for investors.

She also highlighted that successful Austrian investors in Bulgaria serve as excellent examples, and new Austrian companies are showing interest in investing in sectors such as IT, banking, insurance, and energy.

The two officials also discussed Bulgaria's accession process to the OECD and the Eurozone. Ikic-Bohm confirmed Austria’s firm support for Bulgaria in meeting the necessary criteria.