Bulgaria seeks Saudi investors – government approves economic memorandum
The cabinet in Sofia has approved a memorandum on economic cooperation with Saudi Arabia. Bulgaria is also asking the European Commission for support with 15 reform projects.
Archive image · Photo: Radosław Botev / Wikimedia Commons, CC BY 3.0 pl (cropped and resized)
The Bulgarian government on Wednesday approved a draft memorandum of understanding on economic cooperation with Saudi Arabia, the BTA news agency reported, citing the Government Information Service. The document is to be signed by Deputy Prime Minister and Economy Minister Alexander Poulev and Saudi Minister of Economy and Planning Faisal F. Alibrahim.
The memorandum is intended to create a framework for deeper bilateral economic cooperation and the exchange of experience. The government says it expects Saudi investment in Bulgaria as well as more direct contacts and partnerships between companies from both countries. No specific sectors or amounts were named.
At the same meeting, the cabinet approved a list of 15 priority requests under the EU's Technical Support Instrument. They cover areas including labour market reform, financial management, energy and energy efficiency, waste management, digitalisation and local government. The list is to be sent to the European Commission's Directorate-General for Structural Reform Support by 31 October.