PM Rumen Radev: Economic Relations Are One of the Pillars of Our Strategic Cooperation with the United States

When it comes to security and stability, a strong economy is of paramount importance. That is why economic relations are one of the pillars of our strategic cooperation with the United States. US investment is a priority because it brings with it advanced technologies and successful models for developing a modern economy.

Prime Minister Rumen Radev made the statement during a meeting with the American-Central European Business Association (ACEBA), which was also attended by Ivan Vasilev, Minister of Innovation and Digital Transformation, and Katya Ivkova, Minister of Health, the government press service said on October 22.

The Prime Minister stressed that Bulgaria had accumulated considerable experience in the high-tech sector. As examples, Radev cited INSAIT, the first institute of its kind in the region, and the company EnduroSat, which in recent years has managed to manufacture and launch into orbit three times as many small satellites as all European countries combined. The region’s largest space industrial park will also be established just 15 kilometres from Sofia.

Bulgaria is already a European leader in the installation of battery energy storage systems. Two days ago, construction began in Tvarditsa on a new energy storage park that will be equipped with state-of-the-art Tesla technology. Construction is also set to begin on Bulgaria’s first artificial intelligence gigafactory, which is expected to be one of the largest in Europe.

Photos: Government Press Service

During the meeting, Prime Minister Rumen Radev highlighted the fruitful cooperation between Bulgaria and the United States in traditional areas such as energy and security. In the healthcare sector, the Prime Minister identified health checks and preventive care as opportunities to deepen cooperation.

“After our country set something of a record with eight parliamentary elections over the past five years, we finally have a government with a stable majority in parliament, which is a rarity in Europe today. We have come through a difficult period, and I hope that we will now be able to make progress in attracting and implementing strategic investment from the United States,” Prime Minister Rumen Radev also said during the meeting.