President Radev: Bulgarian Ministries Should Be Far More Active in Attracting Investments

Bulgarian ministries should pursue far more active policy to attract investmentss, President Rumen Radev said on October 28.

Speaking in Riyadh at the official opening of the Future Investment Initiative forum, President Radev underlined that Saudi Arabia is a leading political and economic factor in the Middle East — a country with growing influence and a key partner in the Gulf region.

“Today's forum is an example of how global politics and business can work hand in hand, and how tradition can be combined with modernity,” Radev said.

He emphasised that there is strong interest in Bulgaria, but greater engagement is needed from the Bulgarian government. This, he noted, had been discussed with both the Saudi Crown Prince and the Minister of Commerce. The President pointed out that Bulgaria and Saudi Arabia have yet to sign an agreement on the mutual protection of investments.

“Do you know what the Minister of Commerce told me? He said he expects our ministers to be far more active and to maintain regular communication with their counterparts — because, according to him, that communication is currently lacking. And this is a crucial precondition for attracting any investment. The potential is significant, but Bulgaria should open up — Bulgaria should adopt a much more active, even assertive, policy through its ministries to attract investors,” the President said.

During the forum, President Radev took part in a panel discussion titled “What Is the True Cost of Economic Security Amid Disrupted Supply Chains, Fragmented Global Markets and Rising Tariffs?”

“We must strike a balance between the resources we allocate for today — for the present — and those we invest in the future,” Radev said.

The President also commented on Bulgaria’s recently signed deal with Rheinmetall.

During the forum, President Rumen Radev took part in a discussion on "What is the real cost of economic security in conditions of disrupted supply chains, fragmented global markets and increased tariffs?"

"We really need to strike a balance, in my view, in the resources allocated to everyday life, to today. A balance with what we allocate for the future," Rumen Radev said.

President Radev also commented on the deal with Rheinmetall.

“Yes, we need new technologies, and we must develop partnerships with our strategic allies,” President Radev said. “But I expect Bulgaria’s national interests to be safeguarded. It is the government’s responsibility to ensure how exactly such agreements are signed — and, more importantly, how they are implemented.”

President Radev reminded that building a competitive defence industry has been one of his key priorities. He met Rheinmetall CEO Armin Papperger during the Munich Security Conference and subsequently facilitated his meeting with the Bulgarian government.