31.10.2024 Delyana Ivanova: BDB Supports Bulgaria’s Reindustrialization, Industrial Parks Will Attract Foreign Investors

The reindustrialization of Bulgaria is essential for the country’s development. Industrial parks will create conditions for the rapid implementation of business projects and boost investments in the national economy. This was stated in an interview with BGNES by Delyana Ivanova, Chair of the Supervisory Board of the Bulgarian Development Bank (BDB).

Bulgaria follows European and global trends regarding the reindustrialization process. The “Draghi Report” has highlighted the need for Europe to close the gap with the USA and China. “This catch-up is achieved through additional added value in the economy via new manufacturing and investments in high-tech industries,” said the Chair of the BDB Supervisory Board.

A crucial part of this process is the establishment of industrial parks. “An industrial park is not a factory itself. It is the logistics infrastructure provided to future investors—electricity, water, connectivity, and infrastructure — because the most important thing for an entrepreneur is to have the ability to start their business immediately,” Ivanova explained.

Additional advantages of the country include a highly qualified workforce, particularly in the field of information technologies, as well as low tax rates. These advantages create excellent opportunities for foreign investors.

BDB, as part of the Ministry of Innovation and Growth's system, supports investors in industrial parks. “The bank plays a complementary role by providing debt financing for the construction of these parks and later supporting the specific investments of individual entrepreneurs,” Ivanova added.

Beyond supporting small and medium-sized enterprises and reindustrialization, the new focus in BDB’s strategy is overcoming regional imbalances.

“The Bulgarian Development Bank can support contractors of strategic projects and will expand its capacity to finance companies when they have receivables from the state, municipalities, or public enterprises,” Ivanova explained.

A new step in the program is the promotion of industries, that are priorities for the economy. “In particular, the first industry to receive significant support is the military-industrial sector, as commercial banks have understandable restrictions in this field. BDB will support this segment. We have also developed new products, supporting the export,” noted the Chair of the BDB Supervisory Board.

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Delyana Ivanova is the Chair of the Supervisory Board of the Bulgarian Development Bank and an advisor to the Minister of Innovation and Growth. She has professional expertise in banking and finance. Ivanova served as a Deputy Minister of Regional Development from 2021 to 2022. Prior to entering the executive branch, she was a Member of Parliament in the 45th and 46th National Assemblies and a member of the Budget and Finance Committee.