Updated 4:59 PM EDT, Fri, Oct 11, 2019

Make CT Your Homepage

Alibaba to Build Logistics Center in Bulgaria

Alibaba's "One Belt, One Road" strategy means expanding its presence in central and Eastern Europe.

(Photo : Getty Images) Alibaba's "One Belt, One Road" strategy means expanding its presence in central and Eastern Europe.

Alibaba has a plan of developing a European logistics center in Bulgaria, evaluating the opportunities for investments in the country.

The press office of the Bulgarian government said that Bulgarian outgoing Prime Minister Boyko Borisov held a talk with Alibaba's officials. Bulgarian outgoing Deputy Prime Minister for EU Funds and Economic Policies Tomislav Donchev, and high-ranking representatives of Alibaba Group were present in the business meeting. There were representatives from GS-Solar Company and GoldPoly Group as well. Outgoing Bulgarian Consul General to Shanghai Dimitar Abadzhiev accompanied the delegation.

Like Us on Facebook

“Alibaba Group's ideas for investments are linked to setting up a logistics center to back up their operations in Europe. The project will also include trading of Bulgarian goods and foods in the international market,” the government said.

The meeting discussed the overall assessment shared on the activation of the bilateral business contacts from the previous years after the Bulgarian participation on highest level in the 16+1 initiative. It also talked about the economic forums organised and opportunities for discussion of concrete protects between the two countries’ representatives of the business.

Moreover, the meeting also tackled Alibaba Group’s plan to create an investment in logistic center in Bulgaria. Other agendas include GS-Solar Company’s plan to build a solar panels factory as well as GoldPoly Group’s interest in purchasing Bulgaria’s tobacco products. 

Bulgaria may be able to take advantage of China's biggest e-commerce company’s "One Belt, One Road" strategy, where it will expand its presence in central and Eastern Europe. This strategy will help Bulgaria in export industry. 

Real Time Analytics