ATTRACTING INVESTMENT AND FUNDING – OPPORTUNITIES FOR MUNICIPALITIES

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ATTRACTING INVESTMENT AND FUNDING – OPPORTUNITIES FOR MUNICIPALITIES

The Bulgarian Investment Agency (IBA) at the Ministry of Innovation and Growth (MIG) organized yesterday, on February 20, a forum “Attracting investments and funding – opportunities for municipalities”. The event was held on the territory of Sofia Tech Park – Incubator Building, The Venue Hall, at 11:00 am.

The aim of the event was to provoke a dialogue in which IBA and MIG provide information to municipalities on attracting investors and funding opportunities, thus ensuring sustainable growth of the regions. In addition to the legal framework, the lecturers shared their experience in attracting foreign investors and presented successful practices of cooperation with municipalities and industrial zones and proposed working approaches to building a competitive economy that will ensure the growth and development of municipalities and regions in Bulgaria by encouraging and accelerating innovation and investment in all sectors of the economy.

Ms. Milena Stoycheva, Minister of Innovation and Growth, opened the forum and said that: “There is an increased interest of foreign investors in Bulgaria. Our efforts are aimed at establishing Bulgaria as an attractive destination for investors with good and predictable conditions.”

Ms. Mila Nenova, Executive Director of IBA, presented the encouraging measures to attract investments and presented the experience of IBA for interaction between the agency and the municipalities, sharing feedback from investors on the investment process in the country. Here’s what she shared: “For 2023, under the Investment Promotion Act (IPA), 31 investment projects have been certified per class of investments totaling over BGN 660 million and 2,353 new jobs are to be created. In the period from January to November 2023, the country reported a significant growth in foreign direct investment, reaching almost EUR 3.5 billion. 36% growth compared to 2022.”

Before the start of the forum, on the air of “Our Day” on the Bulgarian National Radio, Ms. Mila Nenova, Executive Director of the Bulgarian Investment Agency, said that it is important to share what we do, because “this is not a process in which only one institution can do its job and the result is ready.” You can hear details of the interview here.

Mr. Plamen Panchev, Executive Director of Trakia Economic Zone presented the new investment projects in TEZ and shared good practices.

Directorate General “European Funds for Competitiveness” at MIR, Bulgarian Development Bank and Fund Manager of Financial Instruments in Bulgaria presented the current opportunities for access to grants and financial instruments applicable to municipalities and potential investors.

After the end of the forum, a visit to the Super Computer and a presentation of its capabilities was organized.

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