An investment map for Bulgaria's re-industrialisation is being prepared

Work has started on the creation of an investment map for the re-industrialisation of Bulgaria, which will be based on the raw materials extracted in the country.

This was agreed between the caretaker Minister of Economy and Industry, Nikola Stoyanov, and the Bulgarian Chamber of Mining and Geology.

According to Nikola Stoyanov, Bulgaria has large amounts of underground wealth, which is currently used entirely for export and these are lost benefits for the Bulgarian economy.

"Our country should stop being a donor of raw materials to developed economies and therefore our goal is to attract investors using our resources as close to them as possible," Minister Stoyanov said.

He added that on the one hand this would reduce transport costs for companies and on the other - the added value from this industry would remain in Bulgaria.

"By developing industrial zones close to the large deposits of underground wealth and sufficiently attractive conditions for investment in them, we have every chance to attract strategic investors and awaken the production process in our country. This is a guarantee for economic growth and increase in income of the population in whole regions," explained the caretaker Minister of Economy.

The Bulgarian Chamber of Mining and Geology said that they welcome this approach and will fully support its implementation. The chamber is to provide updates for the preparation of the investment map, which will contain opportunities for specific industries by regions of the country, determined on the basis of existing raw materials.

It will be presented to the Economic Advisors in the Trade and Economic Affairs Offices (TEAOs) which will play a key role in presenting it to foreign businesses. Key enterprises in each sector around the world using raw materials that can be sourced in Bulgaria will be identified and investment opportunities in the country will be presented to them.

During the meeting it was commented that we are at a historic moment when a number of European manufacturing companies are facing serious difficulties and are looking for new locations.

Thanks to the secured energy supply, Bulgaria is becoming a very attractive destination for investments.

On behalf of the Bulgarian Chamber of Mining and Geology, the meeting was attended by the Chairman of the Board Nikolai Valkanov and the Executive Director Ivan Mitev.

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