AmCham Bulgaria Organized Round Table Between Minister Daniel Lorer and U.S. Companies in Washington D.C.

AmCham Bulgaria organized a round table and a series of business meetings between Daniel Lorer, Minister of Innovation and Growth of Bulgaria with representatives of American companies in the capital of the United States. The Minister discussed the encouragement of the bilateral trade and investments, deepening of the relationship in the innovations and improving the business climate in Bulgaria. The meeting was organized by the U.S. Office of AmCham Bulgaria, and it was attended by the newly appointed Ambassador of the Republic of Bulgaria to the United States of America H.E. Georgi Panayotov.

On June 14th, 2022, Minister Lorer took part at a round table with representatives of the American business, representatives of the U.S. Trade Department, the American companies, R&D units of the National Science Foundation, as well as Johns Hopkins University and the University of Central Florida. Daniel Lorer presented the investment opportunities in Bulgaria. He expressed his satisfaction with the increased interest of the American companies towards our country. During the meeting, the Minister emphasized the economic development and innovations, as well as the encouraging of the bilateral trade and investments.

He mentioned also that the United States are among the top export partners of Bulgaria, ranking among the top 10 of the largest partners and investors here. Minister Lorer declared that there are investment opportunities in high-tech manufacturing, research and development, as well as in industrial partnership. He presented the business-support measures that our country presents to its foreign investors. One of the discussed topics was the potential of Bulgaria to be the transit location of the CEE region for goods from Asia towards Europe.

Participants and discussed topics

Among the discussed topics were the development of the autonomous vehicles sector and the related R&D and the potential cooperation between R&D institutes, incl. INSAIT – the computer science and AI institute in Bulgaria. In the automotive sector, the topics of discussion were the hydrogen and hydrogen storage technologies and hydrogen stations for car fueling. Minister Lorer presented also the capacity of Bulgaria in the field of scientific research in molecular biology. Other topics were the high-tech industry for the development and production of space food and aerospace research, autonomous drones for commercial use, etc.

In the Energy sector, vast ranges of topics were discussed including the capabilities of rare metals extraction from the lignite coal of the Maritsa East Basin, speeding the LNG imports, virtual gas pipelines, storage and transition of hydrogen, modernization of the Chiren Gas Storage, gas transportation via the Danube River, etc.

Among the companies at the round table were Waymo, Intel, New Alternative Energy Group, Corban Energy, Pangea Carbon Capture, Sierra Nevada Corporation, FedEx, Rivian (Amazon’s e-cars manufacturer), Pangea Carbon Capture, New Alternative Energy Group, Corban Energy Group, as well as representatives of the academia such as The National Science Foundation, The Johns Hopkins University, and The University of Central Florida.

All participants declared their will for this discussion to be developed into more concrete projects and initiatives in the future. Soon a science delegation from the Technology Transfer and Patent Commercialization Center of The Virginia Commonwealth University will visit Bulgaria, as well as several trade missions from Bulgaria to some of the states will be organized with the support of the State International Development Organization and the U.S. Trade Department.

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