Top Award for Czech Medical Device Maker
BTL Industries Bulgaria received the country's Investor of the Year 2025 award on Monday evening for a €51 million factory investment in Plovdiv that created over 700 jobs. President Iliana Iotova presented the award and statuette at a ceremony at Sofia's Hyatt Regency hotel marking the 20th edition of the InvestBulgaria Agency recognition programme.
The Czech-owned medical device manufacturer has operated in Bulgaria since 1998, initially as a sales office. It now employs over 850 people across production facilities in Plovdiv and a research and development centre in Sofia. The company ships more than 40,000 medical devices annually to over 120 countries across six continents.
"This is not just an award for the size of our investment, but recognition of our long-term work in Bulgaria," said CEO Veselin Karavasilev. "Thanks to the favourable economic environment and the high qualifications of people in Bulgaria, 28 years later we have become BTL's sole production base worldwide."
Karavasilev added that Bulgaria has the potential to become a leading manufacturer of medical devices within the EU. The claim is aspirational: he did not provide comparative export or market share data to support it, and no independent sector analysis was referenced at the ceremony.
Other Major Investment Awards
Intuitive Surgical Bulgaria won the Greenfield Investment category for a €42 million project in the town of Parvomay creating over 170 jobs. Caretaker Energy Minister Traicho Traikov presented the award to senior operations and engineering directors Stoyan Stoyanov and Dimitar Lichev.
Aero Technic BG received the Human Capital award for a €15.85 million investment at Sofia's Vasil Levski Airport, creating 125 new positions. The award went to administrative director Rositsa Usheva, presented by caretaker Finance Minister Georgi Klisurski.
Nestlé Bulgaria took the Business Expansion Investment category for €44.63 million committed in Sofia, generating 119 jobs. CEO Petar Stoilov accepted from Deputy Prime Minister for European Affairs Maria Nedina.
Festo Bulgaria won the Innovative Business award for a €40 million investment spread across Sofia, Smolyan and Gabrovo, creating 140 jobs. Managing Director Kalin Dobrev received the recognition from caretaker Minister of Innovation and Growth Irena Mladenova.
Special Recognition for Regional Development
The agency awarded honorary plaques in six categories to companies and institutions with contributions to economic and environmental performance. Varna Food Factor, Teklas Bulgaria, ZS Europe and Elatsite-Med received recognition for regional development contributions.
Optix won the Innovative Product category. Simobotics took the Successful Startup award.
Industrial Park Shumen received the Infrastructure Development Excellence award, recognition that puts the city on the national investment map alongside much larger centres. Shumen's industrial park has been positioning itself as a destination for manufacturing and logistics investment in north-east Bulgaria, and the IBA award reflects that progress.
Alcomet was recognised for social entrepreneurship. Microac, Trakia Glass Bulgaria and Healthy Bars received the Sustainable Business award. Air Liquide won in the Low Carbon Footprint category.
Stara Zagora Municipality received the Municipality with the Most Investments award, accepted by Mayor Zhivko Todorov.
Agency Marks 30 Years
The InvestBulgaria Agency celebrated its 30th anniversary at the ceremony. President Iotova presented the agency with the Honorary Badge of the President of the Republic of Bulgaria.
The ceremony brought together business representatives, government officials, diplomats and international organisations. The Investor of the Year initiative recognises companies contributing to Bulgaria's economic development, job creation, innovation and sustainable growth, according to the agency. The selection criteria and evaluation methodology are not published in detail.
What British Investors Should Know
British businesses evaluating manufacturing or R&D investment in Bulgaria can reference these projects as benchmarks for investment scale and employment creation. The concentration of awards in medical devices, industrial engineering and food manufacturing reflects sectors where Bulgaria is actively courting foreign capital. The presence of government ministers and the president at the ceremony signals official backing for foreign direct investment.
However, all investment amounts and job creation figures are company-reported. The InvestBulgaria Agency does not publish detailed selection criteria, independent verification processes, or post-investment performance reviews for award recipients. This does not mean the figures are wrong, but British investors should conduct their own due diligence rather than treating award recognition as independent confirmation of impact or sustainability.
Bulgaria's regional investment landscape is evolving rapidly, but long-term outcomes for foreign-led job creation remain difficult to assess without longitudinal data. Any British companies with existing supply chain relationships or potential partnerships with the awarded firms should note the scale of expansion happening in Bulgaria's manufacturing sectors. It is not yet clear whether any of the recognised companies have direct British ownership stakes or UK-based partnerships, though such information would be publicly available through company registries if it existed.