President Rumen Radev at a business forum in Singapore: We have potential for research partnerships

Bulgaria and Singapore have the potential to join forces for joint research and development initiatives to create products that will expand the presence of both countries in various global markets, President Rumen Radev said at the opening of a business forum during his visit to Singapore on November 22.

In his speech, President Radev highlighted that the prerequisites for building partnerships between Bulgaria and Singapore are certain similarities—such as investments in human capital development, education, and innovation, as well as the strategic geographical location of both countries.

"Due to its central position in Southeast Asia, Singapore provides easy access to the entire Asia-Pacific region. Important energy and transport corridors connecting Asia and Europe pass through Bulgaria, giving us the potential to establish ourselves as a logistics hub," President Radev said, noting that Singapore and Bulgaria could collaborate in the field of logistics.

The President added that, as a geographic crossroads, Bulgaria is interested in developing digital infrastructure, as well as centres for the storage, processing, and protection of information resources.

"Singapore has accumulated significant experience in this field, and together with Bulgaria, we can collaborate and succeed by responding to the demand, as information is the 'commodity' of the future," the head of state remarked.

President Radev also pointed out that potential areas for partnership include information technology—a sector in which many highly qualified Bulgarian specialists work—as well as startup companies. Electronics and robotics, the defense industry, tourism, the automotive sector, and satellite communication development were also highlighted as promising areas for joint cooperation and investment.

In his speech, Radev further noted that, within just one generation, Singapore has achieved the most significant socio-economic progress, and Bulgaria can learn from this remarkable development.

The Bulgarian Head of State is on a working visit to the Republic of Singapore, aiming to boost the development of bilateral dialogue at the highest political level and encourage partnerships between the two countries in areas of mutual interest. This is the first visit by a Bulgarian president to Singapore in 21 years. On the first day of his visit, President Radev also visited the Hyundai Motor Group Innovation Center and toured the company’s electric vehicle production line.

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