Bulgarian economic modernization and foreign investment

Bulgarian Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Pulev has initiated efforts to modernize the national economy through international partnerships.

Initially, discussions were held with the European Bank for Reconstruction and Development (EBRD) regarding infrastructure development, public-private partnerships, and attracting investment. Pulev noted that the existing economic model, which relies on debt-financed consumption, is “unsustainable,” and advocated for a shift toward high-value-added production.

Following these discussions, Pulev led a large Bulgarian delegation to China for the 19th session of the Bulgarian-Chinese Intergovernmental Mixed Commission for Economic Cooperation. This mission focused on expanding relations in sectors such as trade, energy, and digital transformation, with a specific emphasis on industrial cooperation in the automotive industry, decarbonization, and green technologies.

Building on these efforts, Pulev attended the 26th China International Fair for Investment and Trade (CIFIT) in Xiamen. During meetings with Chinese Vice President Han Zheng, Pulev sought to transition diplomatic relations into “tangible economic outcomes” by attracting high-tech manufacturing and industrial investments. Bulgaria is specifically targeting the automotive, electronics, and green technology sectors, with the aim of positioning the country as a “strategic production hub in Southeast Europe” rather than merely a consumer market. To facilitate this, an invitation was extended to the electric and autonomous bus manufacturer King Long to evaluate industrial sites within Bulgaria. A primary objective of this strategy is to address the trade imbalance between the two nations by fostering local production and job creation.