In the office of the InvestBulgaria Agency (IBA) was held an official signing of a Memorandum of Cooperation aimed at increasing the interaction of the two countries in the field of trade. The meeting was attended by Mila Nenova, Executive Director of IBA, Julian Balchev, Secretary General and representatives of the IBA team, on behalf of the Bulgarian-Saudi Chamber of Commerce Dimitar Abadjiev, Chairman, Valentina Alexandrova and Tsvetelina Lukarska, members of the chamber.
Mr. Abadjiev pointed out successful examples of companies that have already chosen Bulgaria as an investment destination. The latest one belongs to the Saudi company Taval, which in August bought one of the largest mobile operators: Vivacom. “There is also serious interest in the field of real estate and infrastructure construction,” added Mr. Abadjiev. He also emphasized the fact that Saudi Arabia views Bulgaria as a friendly country towards Muslims and attracts more and more interest.
Her assurance that the interaction and unified work of the Embassy in Saudi Arabia, the trade representatives and the bilateral chamber will increase the cooperation between the two countries, said Mrs. Nenova. As a proposal for Bulgaria’s presentation to the Saudi entrepreneurial environment, Ms. Nenova pointed out the organization of a joint forum or participation in an appropriate one. Mr. Abadjiev recalled that the last organized event was 4 years ago, and holding one in the future is of key importance.
Ms. Nenova expressed support that the “partnership with the bilateral chamber” has potential and assured that it is possible to organize an event in the spring of next year.
The meeting discussed the favorable economic environment provided in Saudi Arabia: 96% of the investments of the second largest fund are concentrated inside the country. An example of this is the Red Sea project, which is part of the Saudi Kingdom’s 2030 vision.
Ms. Tsvetelina Lukarska, Chairperson of the National Chamber of Mineral Waters, pointed out the presence of springs in Bulgaria as a strategic advantage that Saudi companies can benefit from. She said “we can compete in more specific sectors” such as food processing and water bottling.
