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Prince Alwaleed Receives Bulgarian Minister of Economy to Discuss Economic Issues

February 26, 2011

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received HE Mr. Traycho Traykov, Minister of Economy, Energy and Tourism who was accompanied by a delegation. The delegation included Mr. Maril Kossev, Deputy Minister of economy, Energy and Tourism, Mr. Dimiter Mandradjiev, State Expert, “Foreign Economic Policy” Direcorate, Ministry of Economy, Energy and Tourism, and Mrs. Albena Trassaieva, State Expert, “Energy Policies, Strategies and Projects” Directorate, Ministry of Economy, Energy and Tourism. The meeting was also attended by Dr. Nahla Alanbar, Personal Executive Assistant to HRH the Chairman and Mr. Fahad Al Ofi, Executive Assistant to HRH the Chairman.

The meeting began as the Minister thanked Prince Alwaleed for giving him the opportunity to meet with him. The two touched upon the latest regional and international developments on the social and economic front, and the bi-lateral economic relations between their respective countries.

Furthermore, the Minister discussed investment opportunities in Bulgaria especially in the hospitality sector and extended an invitation to HRH to visit the country. Moreover, Mr. Traykov expressed his government’s desire to attract Prince’s investments to the country, and said that his government will strive to facilitate and overcome any difficulties or obstacles hindering the success of HRH’s investments.

In 2009, Prince Alwaleed received Mr. Radion Popov, Bulgarian Deputy Minister of Foreign Affairs and hosted a dinner in honor of his guest at Kingdom Resort. In the same year, was on awarded the “Madara Horseman” Medal which is the highest medal in Bulgaria, by the Bulgarian President Georgi Parvanov during an official visit to Republic of Bulgaria. Furthermore, the Bulgarian President hosted a luncheon in honor of the Prince that was attended by ministers and other government officials.

Also during the trip, Prince Alwaleed was awarded with a honorary title of Doctor Honoris Causa of the Thracian University during a ceremony. The ceremony was held at the Military Club in the capital city Sofia and the doctorate was presented to Prince Alwaleed by Prof. Ivan Stankov, Rector of Thracian University. The honorary doctorate awarded to HRH was in recognition of his efforts in many fronts including his investments through KHC locally, regionally and internationally as a respected, distinguished international investor and entrepreneur, and the Prince’s educational, and philanthropic contributions on a global scale.

The Prince’s investment in Bulgaria is in the banking sector through Citigroup.