The Bulgarian government and the German defence group Rheinmetall have signed an agreement in Sofia to build a gunpowder and 155 mm artillery shell factory at the state-owned Vazov Machine Building Works (VMZ) in Sopot.
The deal was signed by Rheinmetall Chief Executive Officer Armin Papperger and VMZ Executive Director Ivan Getsov. The ceremony was attended by Prime Minister Rosen Zhelyazkov, Economy Minister Petar Dilov, and Germany’s ambassador to Bulgaria, Irene Maria Plank.
“There is much work ahead to unlock the full potential of the Bulgarian plant. We have established a stable and predictable partnership with our partners,” said Prime Minister Rosen Zhelyazkov.
Papperger said he expected other European companies to invest in Bulgaria’s defence industry.
The nearly 500 million euro investment will create around 1,000 jobs and is seen as key to modernising Bulgaria’s defence sector. It is part of broader EU and NATO efforts to strengthen Europe’s defence capabilities.
The Bulgarian National Bank reports a sharp increase in new household deposits . The growth in euro deposits is impressive. In just one month, amounts worth 334 million leva (over 161 million euros) were placed in deposit accounts. This is 57% more than..
The President of the National Assembly, Natalia Kiselova, is convening an extraordinary parliamentary sitting today with a single item on the agenda – a vote on amendments to the Medical Establishments Act, the Bulgarian News Agency (BTA) reported...
The international conference Regional Defence Summit 2025 takes place today in Sofia. It brings together defence ministers, representatives of the European Union and NATO, industry leaders, investors and innovators with the next..
An earthquake with a 6.1 magnitude on the Richter scale hit Western Turkey at 22.48 hours last night. There were over 40 aftershocks after the..
Frol and Frosia are the newest residents of the Bear Sanctuary Belitsa, according to the Four Paws Foundation, which runs the bear sanctuary in..
Bulgaria’s draft social security budget indicates that the minimum wage from 1 January 2026 will be lower than the level set out in the Labour Code ,..
Partly Cloudy