In 2023, Bulgaria produced more ammunition than the rest of Europe combined, the country’s Minister of Economy and Industry Bogdan Bogdanov said during a meeting of the parliamentary Committee on Economic Policy and Innovation.

“All in all, a large part of what is manufactured in Bulgaria is needed both in our Euro-Atlantic partners and in Ukraine,” Bogdanov added.

The Bulgarian minister noted that Bulgarian companies have submitted applications to European programs to expand their production capabilities. In addition to private companies, VMZ Sopot is also seeking European Union funding for its own projects, he clarified.

He recalled that at a meeting in the parliament, the chairman of the parliamentary defense committee and the leaders of the pro-government parties had assured that Bulgaria could build a gunpowder factory on its own. Specific areas are already being considered for this purpose and specialized technologies have been offered. The most restrictive conditions for the delivery of such equipment, the cost of such a plant and its capabilities are known. Bogdanov noted that a committee has been formed to complete a report by the end of March on various proposals for building a state-owned gunpowder factory.

“It doesn’t matter what capabilities we have, the market demand is huge at this point and there will be enough jobs for both private and state-owned companies,” he emphasized.

Bogdan Bogdanov stated that the construction of such a factory should be decided by the Bulgarian parliament. He noted that its construction will take three or four years, which means there is sufficient time to plan the investment, either from a VMZ dividend or from another source.