Bulgaria – Saudi Business Forum outlines the main sectors for cooperation

The Bulgarian Chamber of Commerce and Industry hosted a Bulgaria – Saudi Business Forum, organized in cooperation with the Council of Saudi Chambers, with the support of the Embassy of the Kingdom of Saudi Arabia in Sofia.

At the opening of the forum, the President of BCCI Tsvetan Simeonov said that the event was continuation of his visit to Riyadh as part of the delegation accompanying the Prime Minister of the Republic of Bulgaria Boyko Borisov in the Kingdom of Saudi Arabia, in the end of November 2017. Mr. Simeonov thanked the Saudi delegation for its quick response to the invitation and deciding to research the opportunities for investment and cooperation with Bulgarian companies on the spot.

The Deputy Minister of Economy Aleksandar Manolev said that the visit was a strong indication to the desire for development of bilateral relations between Bulgaria and Saudi Arabia. He informed that opening of a Bulgarian Embassy in Riyadh and a Commercial and Economic Section is expected.

The Head of the Saudi business delegation – Muneer Bin Saad, Deputy Chairman of the Council of Saudi Chambers said that there is huge potential for development of the bilateral relations. He presented the main points of the National Transformation Programme “Saudi Arabia’s Vision 2030”.

Stamen Yanev, Executive Director of InvestBulgaria Agency presented the investment opportunities in Bulgaria and the main advantages of the Bulgarian economy. The presentation is available HERE.

Bilateral business meetings by interests were held between Bulgarian and Saudi companies representing the sectors: healthcare, insurance, legal services, construction, trade in foods and beverages, educational services, and tourism. Interest towards import of Bulgarian dairy products was expressed.

Mr. Bin Saad declared interest in future cooperation with Bulgarian companies in the field of renewable energy, and equipment for solar, wind and water energy in particular.

Mr. Simeonov introduced the guest to the current situation of the Bulgarian energy sector and the requirements of Bulgarian legislation for green energy use. Other sectors of mutual interest were discussed, including agriculture, SPA tourism and construction.

Nearly 500 business representatives who couldn’t participate in the forum watched the 360-degree online live broadcast on Facebook.