President Iotova to Representatives of the American Business Community: We Are Working to Make Bulgaria an Island of Stability and Development

“The news coming from the numerous military conflicts are alarming. We are working to ensure that Bulgaria remains an island of stability and development in the difficult times we live in.” President Iliana Iotova said this during a meeting today at the Presidential Institution with executives of US companies interested in investing in Bulgaria. The discussion included representatives from companies in the fields of defence, security, energy, advanced technology and artificial intelligence.

Today’s meeting builds on the discussions Iliana Iotova held with representatives of US businesses during her visit to the United States for the 81st session of the United Nations General Assembly.

“Bulgaria will play a central role in the region in the coming years,” the President stressed. She highlighted the forthcoming Summit on Regional Connectivity to be held in Bulgaria, announced by European Commission President Ursula von der Leyen during her annual State of the Union address.

Iliana Iotova emphasised Bulgaria’s key role in developing the Middle Corridor, which connects Central Asia with Europe via the Black Sea and the South Caucasus. She said the Black Sea’s growing importance for European connectivity made cooperation on security and ensuring freedom of navigation increasingly necessary. She also stressed the need for consensus on imposing a moratorium on attacks against commercial vessels in the Black Sea.

The meeting also addressed opportunities to develop bilateral economic cooperation in areas of mutual interest, as part of a shared commitment to deepening the strategic partnership.

Iliana Iotova highlighted the growing number of companies operating in Bulgaria that offer increasing opportunities for international partnerships. The President pointed to the work of the Institute for Computer Science, Artificial Intelligence and Technology (INSAIT), which is creating prospects for cooperation with US technology companies and universities. Opportunities for joint research projects with the Brain++ artificial intelligence factory were also highlighted. Bulgaria was selected by the European Commission to host the facility.