We must use tools promoting investment and economic growth more efficiently, stated Mr. Rumen Radev at a conference on the regional connectivity Three Seas Initiative 

 

The level of connectivity in transport, infrastructure and digitalisation between countries affects the quality of life of their citizens. It is precisely in these fields that efforts are necessary to catch up to the development of Western European countries, stated President Rumen Radev, who opened the Three Seas Initiative – Unity, Innovations, Connectivity conference in Sofia today. Vice President Iliana Iotova, Caretaker Ministers of Regional Development and Public Works - Violeta Komitova, of Economy - Kiril Petkov, and of Transport, Information Technology and Communications - Georgi Todorov also participated in the conference.

 

The Head of State called for much more effective use of the tools promoting investment and economic growth, such as the regional connectivity Three Seas Initiative. The President identified accelerated social and economic cohesion with our Western European partners as a common goal for Eastern European countries, through enhancing transport, energy and digital connectivity in our region.

 

The Three Seas Initiative Investment Fund already finances projects in participating countries and this is an important sign to partners outside its geographical scope too, the Head of State noted. Japan, South Korea, Qatar and the United Kingdom have already declared their interest in cooperation. “The goal we have set is to attract the interest of businesses and investment funds for our region to become more recognisable globally,” stated the President. The Head of State also pointed out that major projects in the field of transport, energy and digital infrastructure require significant funds, which should be attracted and brought to the Investment Fund.

 

The countries which are part of the initiative must work so that available resources are spent in the best and smartest way to bring added value, stated Mr. Rumen Radev. He further added that the most important connectivity is in the field of science and education, in uniting the research and development potential of young people in Eastern Europe to seek joint solutions for the region’s future. “This is the greatest success and this priority is added to the initiative during the hosting of the Initiative by Bulgaria,” the President noted. The creation of a network of educational, innovative and R&D organisations within the participating countries to stimulate attracting investments and developing new technologies in Eastern Europe is expected to be initiated during the upcoming Summit in Sofia.

 

Mr. Rumen Radev also outlined our country’s contribution to broadening the geographical scope of the Three Seas Initiative. “We cannot speak of efficiency in connectivity when there are restrictions among the North-South axis, where it is most underdeveloped. In this relation, including Greece is of key importance, as important energy, transport and digital lines cross through the border between Bulgaria and its neighbour to the South,” declared the Head of State.

 

The Three Seas Initiative – Unity, Innovations, Connectivity forum was held under the patronage of the Head of State within the Bulgarian hosting of the regional connectivity Three Seas Initiative. The Transport Infrastructure and Construction Institute, the Bulgarian Transport Infrastructure Forum and the Transport Construction Department at the University of Architecture, Civil Engineering and Geodesy organised the event. Leading experts of the transport and infrastructure sector took part in the event.