Minister Angelkova presented the opportunities for investment on our Black Sea coast at the Saudi Arabia’s Public Investment Fund

10 October 2018

The opportunities for expanding cooperation with Saudi Arabia and attracting more investments to the Bulgarian Black Sea coast were discussed in Riyadh by the Minister of Tourism Nikolina Angelkova and Yasir Othman Al-Rumayyan, Executive Director of the Saudi Arabia’.s Public Investment Fund. The two agreed that there are many untapped opportunities between the countries to stimulate investment in various economic spheres, especially in tourism.

Minister Angelkova reminded of the success of the Bulgarian Prime Minister Boyko Borisov’s visit to Saudi Arabia as a leader of a large delegation in November 2017, pointing out that it is proof of the political will for fruitful cooperation between the two countries. After this first-ever large-scale visit, bilateral co-operation has intensified and it is very important for us to continue to develop it, she said.

Tourism is a horizontal policy and we can attract investment in many sectors related to the provision of tourism services. Bulgaria has noted steady growth in tourism in recent years, which stimulates the realization of business projects from different countries, Minister Angelkova said and gave concrete examples with the hotel industry, the construction of thermal and spa complexes, the popularization of artifacts that Bulgaria is very rich in, the production of mineral water, etc.

She presented our country’s huge tourist potential for mass and specialized tourism. A few years ago, Bulgaria had the image of a low-budget destination but it has already established itself as a preferred destination for high-quality services at a reasonable price, the statement clarified. During the meeting, a presentation was made of Bulgaria as a four-season route and an excellent place for investment, especially on the Black Sea coast.

Saudi Arabia’s Public Investment Fund Executive Director Yasir Othman Al-Rumayyan assured his guests that his country is interested in expanding its investment abroad and that Bulgaria’s tourism sector is promising in this respect.

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