Manila – Todor Yalamov, Deputy Dean of the Economics Faculty at Sofia University and a professor at Soka University in Tokyo, emphasized the need for Bulgaria to invest abroad for rapid economic growth. Speaking on November 28 at a discussion on "The Future of Joint High-technology Innovation between Bulgaria and Japan," organized by Nihon Tomono Kai - Club of Friends of Japan in Bulgaria, as part of the 34th edition of the Days of Japanese Culture in Bulgaria, Yalamov highlighted Bulgaria's past successes in joint ventures with countries like Japan, the United States, Western Europe, and the Soviet Union.
According to Philippines News Agency, the Bulgarian electronics industry's growth was propelled by its focus on markets beyond its borders, serving not only the domestic market but the entire Soviet bloc. He noted Bulgaria's strategic role as a gateway for Japanese businesses into Eastern Europe. Yalamov also pointed out that as an EU member, Bulgaria is obliged to provide official development aid to non-EU countries, which can benefit Bulgaria through trade agreements and consultation services.
Yalamov identified Africa as a key focus for Bulgaria, drawing parallels to the importance of the Soviet bloc market in the 1980s. He cited the success of Bulgaria's Software Group in Africa and Oceania as an example of effective foreign investment. He also noted that Bulgaria's investment capacity within its borders is nearing its limit, suggesting a need to look outward.
Yalamov proposed "university diplomacy" and "citizen diplomacy" as areas to deepen Bulgaria's relations with Japan. He mentioned Datex, a product of Bulgarian-Japanese relations from the 1980s, whose leaders' connections with Japanese universities facilitate research and development collaborations in Bulgaria. Additionally, maintaining close ties with the Bulgarian community in Japan, including over 100 Bulgarians teaching at Japanese universities, is crucial for opening new opportunities.
He advised Bulgarian high-tech companies looking to enter the Japanese market to thoroughly understand local culture. Yalamov suggested that new investments in Bulgaria should build upon the foundation laid by foreign investors who have successfully tested their innovative products in the Bulgarian market.
