Vietnamese Ambassador to Bulgaria Nguyen Thi Minh Nguyet (fifth from left) and members of the embassy during a visit and working session at the Trakia Economic Zone. (Photo published by VNA)

During a working session with Vietnamese Ambassador to Bulgaria Nguyen Thi Minh Nguyet, Simeonov underlined Bulgaria’s geopolitical significance as a vital link between Europe, Asia, and the Middle East–Africa, serving as a hub in the global trade network.

From January 1, 2025, Bulgaria officially became a full member of the Schengen Area, a move expected to greatly enhance the flow of goods, services, and people within the European Union (EU). This integration presents an opportunity for Vietnamese firms to access the EU market more quickly and with reduced logistics costs.

In parallel, Bulgaria is accelerating upgrades to its infrastructure, including transport, seaports, energy, and telecommunications, thereby creating a more open, competitive, and investor-friendly environment.

The country holds strengths in sectors that align well with Viet Nam’s development focus, including information technology, software, electronics, energy and the environment, startups and innovation, agriculture and food processing, logistics, and freight services. Bulgarian partners are also willing to cooperate in logistics infrastructure to enable Vietnamese exports to reach European markets through Eastern Europe and the Balkans.

As part of her working trip, Ambassador Nguyet met with Plamen Panchev, CEO of the Trakia Economic Zone (TEZ), Bulgaria’s largest industrial hub, covering over 10 million square metres and consisting of six key industrial parks.

TEZ is inviting investments in areas such as manufacturing, advanced technology, renewable energy, logistics, workforce training, and R&D in green technologies like solar power, green hydrogen, and biomethane. With attractive incentives, including a 10% corporate income tax rate, the lowest in the EU, TEZ is aiming to become the first carbon-neutral industrial zone in Europe. These advantages make it a promising location for Vietnamese investors pursuing long-term and sustainable growth.

On July 3, the Vietnamese Embassy in Bulgaria will coordinate with BCCI to organise the Viet Nam–Bulgaria Economic Cooperation Forum in Sofia. The forum is expected to draw about 50 Bulgarian companies and 20 Vietnamese firms in person, along with around 30 associations and businesses joining online. The event aims to provide a practical platform to advance bilateral economic cooperation in the coming period.