Bulgaria seeks Chinese investment in electric vehicles, high-tech sectors

Bulgaria is seeking to attract Chinese investment in electric vehicle production and related technologies, as well as energy and high-tech industries, Economy Minister Alexander Pulev said during a visit to Beijing.
Pulev, who is also deputy prime minister, discussed investment opportunities with Chinese Vice Premier Ding Xuexiang on September 10, with both sides calling for closer economic cooperation, Bulgaria's economy ministry said, BNR reported.
Pulev said Bulgaria was open to projects that create jobs, increase value-added production and bring technology transfer, with electric vehicles and related technologies a particular priority.
Other areas discussed included energy, decarbonisation, high technologies and industrial cooperation.
Ding described the current period as an opportunity for mutually beneficial cooperation and said Bulgaria was an important Chinese partner in Southeast Europe, according to the ministry.
Pulev is leading a Bulgarian delegation to the 19th session of the Bulgarian-Chinese Intergovernmental Joint Commission for Economic Cooperation in Beijing.
The visit comes as the government of Prime Minister Rumen Radev seeks to deepen economic ties with China. Bulgaria and China established a strategic partnership during Radev's visit to China in 2019, when he was president.
Bulgaria's government approved four draft memorandums on economic and investment cooperation with China on September 2, including an agreement to establish a joint working group on investment cooperation between the two countries' economy ministries.
The Invest Bulgaria Agency also signed draft agreements with three Chinese companies covering investment cooperation and potential projects in Bulgaria.
Chinese investment in Bulgaria's automotive sector has expanded in recent years. Shanghai Unison Aluminium Products, through its ZS Europe unit, inaugurated expanded production capacity near Plovdiv on September 8 for aluminium components used in motor vehicles. Its investment in Bulgaria has exceeded €17.5mn, according to the Trakia Economic Zone.
Tourism was also on the agenda in Beijing, with Bulgarian Tourism Minister Ilin Dimitrov discussing increased Chinese tourist arrivals, direct air links, visa procedures and closer cooperation between tourism businesses with China's Minister of Culture and Tourism Sun Yeli, BTA reported.
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