Thursday 10 / July / 2025
Sofia: The Sultanate of Oman and the Republic of Bulgaria discussed strengthening economic and investment cooperation between the two countries, leveraging experiences in creating investment-friendly environments, designing investor incentives, economic planning, and promoting innovation in economic analysis and studies.
This came during meetings held by Dr. Said Mohammed Al Saqri, Minister of Economy, with several Bulgarian officials in the capital, Sofia.
In his meeting with Tomislav Donchev, Deputy Prime Minister and Minister of Innovation and Growth, Al Saqri reviewed the development of bilateral relations and the opportunities presented by economic and investment coordination. They also explored ways to empower economic institutions, business leaders, and investors in both countries, in addition to discussing Bulgaria’s experience in fostering an innovation-driven economy and knowledge-based growth.
During his meeting with Petar Deylov, Minister of Economy and Industry, Al Saqri discussed cooperation mechanisms in economic and industrial policies, digital transformation programs, best practices in export support policies, and the promotion of industrial investment.
The Minister of Economy and Yulian Balchev, Secretary-General of the Bulgarian Investment Agency, also exchanged insights on attracting foreign investment, investment incentives, and the competitiveness of the investment climate. Al Saqri was briefed on advisory mechanisms for investors, facilitation of new projects, and ways to build strong ties with the international business community.
As part of reviewing Bulgaria’s approach to fostering collaboration between research institutions, academia, and economic policymakers, the Economy Minister and his accompanying delegation visited the Economic Research Institute at the Bulgarian Academy of Sciences (BAS) and the Institute of Computer Science, Artificial Intelligence, and Technology (INSAIT). Discussions covered priority research areas and their role in shaping government economic policies, as well as the scientific community’s contribution to a knowledge-based economy.
It is worth noting that the trade volume between Oman and Bulgaria reached approximately OMR11,496,850 by the end of 2024, with a trade balance of OMR5,039,832. Among Oman’s key exports to Bulgaria are aluminium products, while Bulgaria’s main exports to Oman include electrical control panels, distribution boards, and digital control devices.
