Balgarianovinite.com Deputy Prime Minister and Economy, Investment and Industry Minister Alexander Poulev said Bulgaria is starting a “strong political dialogue” with Germany and an expert dialogue with Rheinmetall.
Interviewed by Bulgarian National Television on Saturday, he said: “We are even ready to expand the scope of our cooperation with Rheinmetall. We want to modernize the Bulgarian economy and achieve technology transfer so that our defence industry has a stronger presence in Europe’s supply chains.”
The Deputy Prime Minister said negotiations were being restarted “from scratch” because the previous Cabinet’s concept lacked a strong negotiating position, financial justification and a signed founding agreement.
Poulev said Bulgaria’s initial investment commitment of EUR 400 million had grown to nearly EUR 700 million. He also said BGN 180 million had been allocated to VMZ-Sopot for a capital increase, only to be returned to the central government budget as a dividend five days later, describing this as an accounting scheme that misled partners and the public.
He criticized the previous government’s talks held with Bulgarian construction companies Glavbolgarstroy and Hidrostroy on construction plans worth around EUR 270 million before a project had been developed or a joint venture established. According to Poulev, the initially selected site was not owned by VMZ and was agricultural land and forest territory without the necessary industrial infrastructure.
The Rumen Radev government is planning to make maximum use of VMZ-Sopot by integrating its existing production capacities. Poulev said that sites with available infrastructure were being assessed with a view to designating them as projects of national importance, which would allow streamlined and faster administrative procedures.
He said Bulgaria needed capabilities for producing gunpowder and 155-mm artillery shells meeting NATO standards. The government is examining Rheinmetall’s entire portfolio, including logistics and transport equipment and drones, to determine which products could be introduced most quickly and effectively.
Poulev said the government aimed to structure a “bankable” project that could attract financing, stressing that the investment would not become an obligation for the Bulgarian state. Ownership arrangements would be negotiated based on the actual capital contributions and commitments of both sides, rather than being predetermined, he added.
The new project will be implemented alongside VMZ-Sopot’s existing operations and will aim to modernize the company, Poulev said.
On July 23, Prime Minister Rumen Radev met in Sofia with representatives of Rheinmetall’s management, with Poulev, Defence Minister Dimitar Stoyanov and German Ambassador to Bulgaria Irene Plank also attending. Poulev told a briefing after the meeting: “We want to strengthen relations in terms of our economic partnership with a critical investor such as Germany, continue the dialogue and find the right formula with Rheinmetall in order to achieve our shared goals.” The government’s ambition is for Bulgaria not to remain on the periphery; Bulgaria must be at the centre of all EU defence initiatives, he added. Industry Minister Poulev: Expert Talks with Rheinmetall to Begin on Expanding Defence Industry Cooperation 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-07-25 19:09:13 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law
