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The Director of InvestBulgaria Agency (IBA) Stamen Yanev signed a Memorandum of Understanding with the Agency for investments and external Trade of Portugal

June 16, 2015

 

The Director of InvestBulgaria Agency (IBA) Stamen Yanev signed a Memorandum of Understanding with the Agency for investments and external Trade of Portugal, which aims to strengthen the bilateral Cooperation and trade and economic relations between the two countries.

 

The document was signed within the framework of the joint Bulgarian-Portuguese Business Forum, which was opened today in Sofia in the presence of the president of Portugal Anibal Cavaco Silva and the president of Bulgaria Rosen Plevneliev.

 

The Director of IBA Stamen Yanev presented to representatives of Portuguese companies the investment opportunities in Bulgaria, the positive business climate and high economic performance of the country and the incentives under the Investment Promotion Act.

 

According to BNB the foreign direct investment from Portugal to Bulgaria for the period 1996-2014 are 27.1 million euro or 0.1% of total FDI. The country occupies 56th position in the ranking of countries have invested in Bulgaria. Bulgarian FDI in Portugal for the period 2006-2014 are 0.7 mln. euros.

 

The Portuguese investments are primarily in the area of Cork, the wine industry, the footwear industry and the financial credit sphere. In 2014 they were limited and focused mainly in the sector "commercial intermediation" and "real estate".

 

This year there is a strong interest in possible Portuguese investment in agriculture

food and wine industries, said Stamen Yanev during the Forum.