December 15 (BTA) - The American Chamber of Commerce (AmCham Bulgaria) on Wednesday organized a Business Meeting with the US Ambassador in Sofia Herro Mustafa in their new format "AmCham Executive Club".

Addressing the event, Mustafa focused on three 'i's: investment, innovation, and integration.

"The United States and Bulgaria have sown the seeds for a deep and multifaceted partnership that is going to bring greater opportunity, security, and prosperity to our citizens. The key to the path forward is Investment, Innovation, and Integration," the Ambassador said in her speech to the over 100 AmCham members attending in person, US Embassy staff and media.

She stressed that the US is the sixth biggest investor in Bulgaria. American companies have invested over 2.5 billion US dollars in the Bulgarian economy, creating more than 30,000 jobs. The diplomat hopes to see further investments in Bulgaria.

Mustafa said she had visited international companies operating in Bulgaria who told her that continued investment in good governance is key for attracting foreign investments and capital. International investors remain concerned about the rule of law in Bulgaria. They also point to recurring issues like difficulties in obtaining required permits, lack of predictability and an inefficient judicial system.

"The United States and Bulgaria are investing together in our future. Our two nations' success hinges on investing in infrastructure, investing in human capital, investing in good governance, and investing in new and promising sectors of the economy. These critical investments will not only help us turn the corner from the COVID pandemic, but also position our countries for long-term stability and prosperity," the Ambassador added.

Commenting on innovations, the diplomat noted that the Bulgarian technology sector is strong and is making excellent progress. She sees endless opportunities for Bulgaria and the US to build on this foundation and to cooperate in finding innovative solutions to challenges.

Mustafa is convinced that Bulgaria has to find its way into the Organization for Economic Co-operation and Development and should also join the Eurozone. Bulgaria is a leader in the Balkan integration process, she added.

Together with AmCham Bulgaria, the US Embassy will continue advocating fair market access, increased transparency, better control on public procurements and international companies' partnerships in order to break the single country dominance in the energy sector, Mustafa stressed. She argued that such changes will lead to more competitive prices for all.

The US Ambassador said that Bulgaria has potential to become a solid regional energy centre, with the Bulgaria-Greece gas interconnector being an essential component in this respect. She said she has always advocated strongly for the construction of that facility.

Bulgaria made giant steps towards modernizing its Armed Forces, Mustafa said further on in her speech, noting the purchase of F-16 fighter jets and recalling that the US invested in pilot training.

"On behalf of our Board of Directors, I would like to send a message to the new government," said AmCham Bulgaria President Olivier Marquette. "We are ready and we are willing to partner with them on many sector policies. We have got lots of mutual priorities and we have some shared vision. Only together - business and government - we can strive for efficiency, transparency, and anti-corruption to unleash Bulgaria's growth potential. AmCham can provide expertise and solutions in sectors such as healthcare, energy, digital transformation, innovation, and more." RY/KK/LG