World Bank experts are currently preparing an analysis of the development opportunities for the Port of Varna and by the end of the year we will announce a public-private partnership procedure. The goal is to attract an international fund or company to secure sufficient investment for its modernization, attract new shippers, and increase the processed cargo volumes at the Varna-West and Varna-East terminals. This was announced by Deputy Prime Minister and Minister of Transport and Communications Grozdan Karadzhov during a bilateral meeting with the Deputy Prime Minister and Minister of National Economy of the Republic of Kazakhstan, Serik Zhumangarin, today in Sofia.
Grozdan Karadzhov emphasized that the government’s policy is for more economic activities and services to be carried out by private companies, not by the state. “Our goal is to attract an international investor who will be involved in future tenders for important infrastructure projects for which the state does not have the necessary resources in the medium term,” Karadzhov pointed out and explained that the World Bank’s analysis will be publicly presented when it is ready this summer, in order to reach funds and companies from all over the world.
“An example of a successful public-private partnership is the operation of the port terminals at the Burgas port,” said Deputy Prime Minister Karadzhov. He added that since the modernization of the Burgas-East 2 and Burgas-West terminals, cargo growth in recent years has been 30%.
Deputy Prime Minister and Minister of National Economy of Kazakhstan Serik Zhumangarin commented that currently more than 60 enterprises with Bulgarian capital are successfully operating in Kazakhstan. “Investments from Bulgaria to Kazakhstan last year amounted to 8 million dollars, which is 90% more than in 2023,” he mentioned. “According to the National Statistical Institute of Bulgaria, Kazakhstan ranks third in terms of meat and lags behind only Turkey and China,” the Kazakhstani Deputy Prime Minister pointed out.
The two deputy prime ministers discussed the expansion of cooperation in transport and communications, as well as in the field of medical services. They agreed to continue the active dialogue on the development of the Middle Corridor, with Deputy Prime Minister Karadzhov emphasizing that Bulgaria will host a high-level meeting of all countries along the corridor later this year.
“We would like to invite Bulgarian companies to participate in the pharmaceutical industry in Kazakhstan, for which excellent conditions have been created, including good co-financing,” said Deputy Prime Minister Zhumangarin. Deputy Prime Minister Grozdan Karadzhov welcomed the idea and stressed that he would hold talks with the Minister of Health and pharmaceutical companies about the good opportunities opening up for them.
