Bulgarian-Russian investment webinar outlines key sectors for cooperation

For the second year in a row, the Bulgarian Chamber of Commerce and Industry, the Chamber of Commerce and Industry of the Russian Federation and the Investment Council at BCCI organized a joint investment webinar.

The President of BCCI Tsvetan Simeonov opened the virtual event and stressed that the Chambers of Commerce and Industry of Bulgaria and Russia have focused their efforts on expanding and renewing the economic cooperation. Many investors are refraining from investing because of the global economic crisis caused by the COVID-19 pandemic, but business organizations must constantly remind them that investing is one of the ways to overcome the difficulties. He pointed out that Bulgaria continues to be a good place to invest because of its low taxes. Later during the event, his words were supported with detailed presentations from Vladimir Tomov, Chairman of the Investment Council at BCCI, and Yulian Balchev, a representative of the InvestBulgaria Agency.

Vladimir Padalko, Vice President of the Chamber of Commerce and Industry of the Russian Federation, welcomed the participants in the webinar – more than 50 representatives of Bulgarian and Russian companies, regional chambers of commerce, and institutions. He raised several key topics for discussion: the need to improve the environment for the tourism industry, which has been hit hard by the pandemic, ensuring transport and logistics connections between the two countries, expanding cooperation in the food industry and other sectors of mutual interest, including with investments.

The Ambassador of Bulgaria to Moscow H.E. Atanas Krastin also took part in the opening of the webinar and said that his visits to different regions of Russia show increased interest in establishing and expanding trade and investment contacts and partnerships with Bulgarian companies. He pointed out that both countries must work to reduce the huge trade imbalance. Ambassador Krastin stressed that Bulgaria has very good achievements in the IT sector and offers cooperation in this area.

On behalf of the Embassy of the Russian Federation in Sofia Konstantin Artyushin, Trade Representative of the Russian Federation in Bulgaria, thanked the BCCI for its assistance in organizing 4 national and regional events held during the year to connect businesses from both countries and expressed readiness to continue the good cooperation.

During the forum, detailed presentations of the investment climate in Russia were made by Vladimir Gamza, Chairman of the Council for Financial, Industrial and Investment Policy of the CCI of the Russian Federation and his colleagues.

Two Bulgarian projects were presented: for the construction of a regional commercial logistics and industrial center near the city of Varna, and for the production of organic honey near the capital Sofia.

The following Russian projects were also presented: for a transport and logistics complex in the Yaroslavl region, and for the construction of a production plant for aviation fuel in the Leningrad region.