Big American Companies with Investment Interest in Bulgaria
Large American companies are interested in investing and expanding their activities in Bulgaria in the fields of agriculture, pharmacy, technology and the food and drinks sector. This was announced by the press service of the Council of Ministers.
Prime Minister Boyko Borisov had a meeting with the American business, which was attended by the Deputy Prime Minister of the EU Funds Tomislav Donchev and the Minister of Economy Emil Karanikolov. The American Business Delegation consists of representatives of 13 US corporations with more than USD 10 billion sales turnover and over 100,000 employees each. The delegation includes companies from the pharmaceutical, technological, food, mining, agricultural and other industries, a message from the Ministry of the Economy said, but did not mention the names of the corporations.
The delegation is organized by the American Central European Business Association (ACEBA), the most influential institution gathering the interests of US large-scale businesses in Central and Eastern Europe. Boyko Borisov told about the measures taken by the government to improve the business environment, ease the administrative burden and reduce business costs. He has also presented the priorities of the Bulgarian Euro-Presidency. He emphasized the potential of the Balkans and the need for partnerships and projects to ensure the connectivity and economic development of the countries in the region. The visit of the US mission is focused on the growing potential and broad business opportunities here, said Eric Stewart, chairman of the association. He noted that for more than 14 years there has not been such a US-based high-level corporate delegation with federal support. The United States is an important strategic partner of Bulgaria and is ranked among the top 20 foreign trade partners on a regular basis, Economy Minister Emil Karanikov said.
According to him, he is interested in US investment in high-tech industries and in industrial co-operation. The Economy Minister has presented to US businesses the investment opportunities in the industrial zones and the incentives offered by our country to the business. Eric Stewart said the visit was indicative of the great interest in investing in Bulgaria by companies, with some already investing and reinvesting, others exploring opportunities and having a real interest. Relations between the two countries are very good, and the trade mission will contribute to strengthening trade and economic relations, Stewart added. The American-Central European Business Association is a nonprofit organization focused on creating a platform for dialogue between US business leaders and representatives of the governments of 14 Central and Eastern European countries, including Baltic countries and parts of the Balkans. One of the main goals of the association is to provide US-based companies with a broad range of communication with government structures in these markets to gain support for business initiatives.
ACEBA works closely with US companies and federal agencies, as well as with foreign embassies in Washington. The Association is a partner for organizing business meetings and roundtables with US presidents, prime ministers and members of governments from the 14 Central and Eastern European countries. The organization serves as a single point of contact for all its members seeking interaction with embassies of partner countries. Currently, the president of the organization is Eric Stewart, who has held the post of Deputy Undersecretary of Trade for Europe in President George W. Bush's administration. Among the founding companies are Amgen, Archer Daniels Midland, Coca Cola, Exelon Nuclear Partners, Johnson & Johnson, Lilly, MetLife, Motorola, Pfizer, PMI, and Raytheon.
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