Greece's foreign direct investment in Bulgaria reached 4.4bn euros in 2024, highlighting the depth of economic ties between the two neighbouring EU member states. According to provisional 2025 data, bilateral trade has climbed to around 6bn euros, proving the growing strategic weight of cross-border cooperation in south-eastern Europe.
Speaking at an informal meeting in Sofia with Greek entrepreneurs active in Bulgaria, Greece's ambassador to Bulgaria, Marios Lymperopoulos, said the figures reflect "the level of cooperation between the two countries". Around 3,500 Greek businesses are currently active in Bulgaria, out of 18,000 registered overall, with 70% headquartered in Blagoevgrad, the region bordering northern Greece.
Opening the meeting, Deputy Interior Minister Konstantinos Gkioulekas stressed that the Greek presence in Bulgaria creates "very fertile ground for partnerships", adding: "Here there is another Greece that is active and we already have the ground to continue."
The business gathering formed part of a two-day visit to Sofia by a large delegation organised by the Ministry of Macedonia and Thrace, launching a broader Balkan tour to strengthen regional ties. Representatives from business, academia and local government in Macedonia and Thrace took part.
Eurozone entry seen as boost for Greek investment in Bulgaria
Bulgaria's accession to the euro is expected to unlock a new wave of investment, with Greek business leaders arguing that the shift removes key currency-related barriers and strengthens investor confidence.
Panagiotis Mavridis, president of the Hellenic Business Council in Bulgaria, said Greece ranks among the top two foreign direct investors in the country, competing with Italy, Austria and the Netherlands. He described Bulgaria's path to the eurozone as "a very positive road", noting that adopting the single currency removes many of the obstacles previously associated with the national currency. According to Mavridis, major companies are already signalling interest in expanding their footprint, calling the current moment "an opportunity to move forward".
The Council's secretary general, Prodromos Mavropoulos, said the body was founded in 2006 to unite large Greek interest companies in Bulgaria and now counts 200 members, of which 100 to 120 are purely Greek firms. He stressed that "Greek entrepreneurship in the country is significant" and urged investors to use the Council and the Bulgarian Hellenic Chamber to navigate opportunities.
SMEs in focus as Greek-Bulgarian business ties mature
Savvas Karafyllidis, president of the Bulgarian Hellenic Chamber of Commerce and Industry, has traced the evolution of Greek entrepreneurship in Bulgaria over the past three decades, arguing that small and medium-sized enterprises now deserve stronger institutional backing.
Having settled in Bulgaria in 1989, he recalled that in the 1990s, "after the fall of the regime, the large groups and entrepreneurs came to Bulgaria". In the 2000s, smaller firms followed. The surge in registered Greek companies around 2009 to 2010, he noted, was largely driven by the Greek financial crisis, when "panicked Greek entrepreneurs" sought to relocate their headquarters. Many, however, never became operational due to the time and adjustments required.
Today, Karafyllidis said, SMEs (small and medium-sized enterprises) are at the forefront and called on Athens to work with Balkan partners to open up vertical transport corridors that would "give breath to all the Balkans". He also pointed to rising Bulgarian investment interest in Greece, expanding beyond property into sectors such as energy and technology, stressing that supporting these investors ultimately benefits the Greek economy.
By Areti Tassoula - adapted from Greek by Vassia Barba
