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InvestBulgaria Agency and Bulgaria-Singapore Partnership Alliance signed a Memorandum of Cooperation

March 14, 2016


Stamen Yanev, Executive Director of InvestBulgaria Agency (IBA) and Martin Angelov, managing partner in Bulgaria-Singapore Partnership Alliance (BSiP Alliance) met on 03.14.2016 / Monday / at 12:00 in Sofia in the building of IBA /Aksakov str. №31 3rd floor/ in connection with the signing of a Cooperation Agreement.

It is expected the Memorandum to become important mechanism for stimulating and support the business in the Republic of Bulgaria and the Republic of Singapore, and to be the basis for the development of closer trade relations and increased bilateral investments. This act of cooperation will enable the Republic of Bulgaria to take advantage of the experience in attracting investment and business opportunities of the Republic of Singapore - № 1 in the ranking of the World Bank Doing business 2016.

Established in 2014 in Singapore, Bulgaria-Singapore Partnership Alliance (BSiP Alliance) is a company whose purpose is to support and develop the business and socio-cultural relations between Bulgaria and Singapore. BSiP Alliance has the status of a national representative and board member of the European Chamber of Commerce (EuroCham) in Singapore and maintains active relationships with other business structures in the island country. Services of BSiP include business promotion and representation services in entering the local market, market research and analysis and more.

The Cooperation Agreement provides active interaction between the two organizations for attracting investment and exchange of information between potential business partners.

It is expected the subject of cooperation to be investment projects (existing and planned), public statistical data, analyzes, results of market research and information on the state regulatory measures.

The two organizations stated desire to work jointly to develop a sustainable economy and to partner in the development of projects and programs related to public-private partnership. Mutual providing information about business forums and exhibitions will be a further step towards the mutual attraction of investments from both countries.

IBA and VSiP Alliance commit to analyze periodically the results of cooperation in the framework of the signed agreement, to exchange information on the achieved results and to develop new proposals for improving the quality of information exchange between the two organizations.