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Stamen Yanev presented the investment opportunities in Bulgaria during the Fourth Meeting of Local Leaders "16 + 1"

October 20, 2018

For the first half of 2018, trade with China increased by 22% compared to the same period in 2017 and accordingly exceeds $ 1.135 billion. This was stated by the Minister of Economy Emil Karanikolov in his speech during the Fourth Meeting of Local Leaders "16 + 1", which was held in Sofia. The forum was opened by the Prime Minister Boyko Borisov and was attended by representatives of local authorities and over 300 business representatives from China, Bulgaria and the countries of Central and Eastern Europe. The meeting was organized by the Ministry of the Bulgarian Presidency of the Council of the EU and the Regional Governor of Sofia Region. Minister Karanikolov pointed out that over the last ten years, Bulgaria's exports to China have increased tenfold and in the first six months of this year expanded by another 10% compared to 2017 and amounted to 366.7 million dollars.

Stamen Yanev, Executive Director of the Bulgarian Investment Agency the attractive tax system of Bulgaria, the low costs of doing business with our neighboring countries. The investment climate in the country was also presented along with measures to promote investment and state mechanisms for their implementation. Stamen Yanev said that our country can offer excellent conditions for Chinese investments in a number of sectors such as automotive and automotive parts, electronics and electrical engineering, information and communication technologies and many others.

Minister Karanikolov held a meeting with the Henan Province Vice Governor, Mr. Hu Dzipin, which signed a Memorandum of Understanding between the Ministry of Economy and Henan's Department of Trade, which will lay the foundations for even more active cooperation with the Chinese province. Henan is one of the largest Chinese provinces, and one of the strongest economic centers with a population of more than 100 million. The Memorandum acts like framework and provides assistance and support for creating new and expanding existing business contacts between businesses in Bulgaria and Henan province, encouraging cooperation between SME from Bulgaria and Henan, stimulating enterprises from both countries to participate in fairs, exhibitions, forums and symposia taking place on the territory of Bulgaria and the Chinese province.