Sofia, Oct. 03 (BTA/GNA) – The latest edition of Sofia International Money Expo, SIMEXPO 2022, began here on Monday. The two-day event presents specific options for funding and investment by many institutions. For a third year in a row, the forum provides space for networking during which the representatives of small and medium-size enterprises can meet new potential business partners.
The event is organized by the Bulgarian Small and Medium Enterprises Promotion Agency jointly with the Bulgarian Chamber of Commerce and Industry (BCCI) and the Investment Council with the BCCI.
Speaking at the forum’s opening, caretaker Economy and Industry Minister Nikola Stoyanov said that the instruments in support of startups and innovations are increasing in number. The entire ecosystem in Bulgaria is developing very well and that is why many investors choose this country, he went on to say. “At the same time, there is lagging behind in the part related to Bulgarian companies’ internationalization, the investments in technologies, in machines. This is a sphere to the development of which I believe it is truly important to pay attention,” Stoyanov noted.
He said he is in favour of market mechanisms: giving companies the opportunity to profit more and invest their own money in innovations and development. He considers this a very sustainable model, noting that in a country like Bulgaria that is smaller as a market and in size, a main factor for companies to make bigger profits would be their internationalization.
In his words, there is strong and growing interest in Bulgaria for foreign investments. Stoyanov described Bulgaria as an island of stability at the moment in terms of energy available.
Also participating in Monday’s event were BCCI head Tsvetan Simeonov, SMEs Promotion Agency Executive Director Boyko Takov, BCCI Investment Council Chairman Vladimir Tomov, Martin Panov, economic adviser to the European Commission Representation in Bulgaria, and European Investment Bank Representation in Bulgaria head Teodor Radonov.
BTA/GNA