Representatives of the largest industrial union in Germany will be visiting Bulgaria next year to explore investment opportunities and launch new projects. This was agreed at a meeting of Deputy Economy Minister Alexandar Manolev with the Executive Director of the Bavarian Regional Union of German Machinery and Equipment Manufacturers Elgar Straub, the Ministry of Economy and Energy said.

The Union of Machine and Equipment Manufacturers represents over 3,200 predominantly medium-sized enterprises in the investment goods industry, which is the largest industrial union in Europe. It represents the general economic, technical and scientific interests of machine building, especially with regard to national and international organizations, institutions and economic circles. More than 1 million people work in the sector and with an annual turnover of 220 billion euros, this is one of the leading industries in the German economy.

During the meeting Deputy Minister Manolev presented the measures for investment promotion and emphasized the potential that the industrial zones can offer on the territory of the country.

According to him at present, more than 930 Bavarian companies with a total of 256 branches and branches develop production and trade activities in Bulgaria. These include both internationally operating energy and technology giants, leading automotive manufacturers, banking and insurance institutions as well as many small and medium-sized companies from different sectors of the economy.

Bulgaria and Bavaria will partner in developing a strategy for the digitization of the Bulgarian economy. This was agreed by Deputy Minister Alexander Manolev and the President and Scientific Director of the Center for Digitalization of Bavaria Prof. Dr. Manfred Broj. Bavaria is one of the most advanced provinces in the area, having an ambitious program to fully digitize a number of sectors of its economy.