Bulgaria Look To Arabs For Investment

It is interesting that Bulgaria is now looking for other source of finding and none richer than the Arabs. A flurry of activity and visits are now planned and the talk will be all about investment in Bulgaria. I wonder when the investment comes whether it is funnelled to the right channels unlike EU funds that just disappeared.

The visit to Bulgaria early this week of HH Sheikh Abdallah Bin Zayid Al Nahyan, United Arab Emirates Foreign Minister, opened ten days of active contacts of Bulgaria with Persian Gulf countries. Later in the week, on Thursday, the Finance Minister of Bahrain, HH Sheikh Ahmad Bin Mohammad Al Khalifa also touched down in Sofia. 1 July Saudi Prince Alauddin Bil Talal As Saud is arriving to Sofia as well. The three visits aim to invigorate bilateral contacts in politics, economy, trade and culture. Following many years of seeking EU and NATO membership, Bulgaria has in recent years pursued stepping up and diversifying relations with countries outside Europe and America. The said visits come to confirm the pursuit. At the talks Foreign Minister Ivailo Kalfin had with OAE’s Foreign minister special attention was allotted to the energy, notably cooperation in the development of renewable energy sources. During the visit of Bahrain’s Finance minister two economic agreements were signed to green-light investments in Bulgaria from the rich gulf state. The aim is to improve the business climate and boost direct investments and economic cooperation. The agreements will facilitate Bulgaria’s access to Bahrain’s investment resources which in turn will be instrumental in the development and technological upgrading of the Bulgarian economy. The forthcoming visit of the Saudi Royal Prince, the wealthiest man to visit Bulgaria till date, is eagerly awaited. The Prince is expected to become a financial co-sponsor of a unique project to reconstruct an ancient Thracian town, submerged on the bottom of “Koprinka Dam”. Lying 27 metres underwater, Sevtopolis or the City of the Thracian King Sevt III was the capital of the Odryisian state in late IVth-early IIIrd c. BC.

Source: www.bnr.bg
Picture Source: www.cdn.wn.com