The work of the Ministry of Innovation and Growth is proof that Bulgaria prioritizes thе expanding and development of digital connectivity in the region. I firmly believe that the state has a responsibility towards business. You are the ones who create added value, jobs, and drive our economy forward. The Deputy Minister of Innovation and Growth Krasimir Yakimov stated this at the fourth edition of the Balkan Business Forum, attended by business representatives from Bulgaria, Turkey, Romania, Greece, Albania, North Macedonia, Kosovo, and Serbia. The event was held in Bansko and organized by the Bulgarian-Turkish Chamber of Commerce and Industry, the Bulgarian-Romanian Chamber of Commerce, the Turkish Foreign Economic Relations Council, the Executive Agency for Small and Medium Enterprises Promotion, as well as the Bulgarian Investment Agency.
Deputy Minister Yakimov noted that the Ministry of Innovation and Growth offers a broad spectrum of incentives for investors, various forms of grant financing, and financial instruments to support micro, small, and medium-sized enterprises.
He also mentioned that recent amendments were made to the Investment Promotion Act (IPA). These changes make the application and certification requirements transparent and easier. Processing times for investor applications have been cut in half. Administrative service deadlines and the minimum co-investment requirement have also been reduced. The Deputy Minister described these changes as positive, as they enable timely implementation of investment projects, accelerate the start-up or expansion of production, and create new jobs.
Yakimov highlighted that through two European programs managed by the Ministry- for competitiveness and innovation in enterprises, and for research, innovation, and digitalization of enterprises-resources amounting to 1 billion BGN will be unlocked within the year through various procedures. For the digitalization of micro and small companies under the “Competitiveness and Innovation in Enterprises” program, a procedure with a budget of 80 million BGN has been opened. Procedures for improving energy efficiency in enterprises with a resource of 126 million BGN, as well as for implementing Industry 4.0 innovations with a budget exceeding 100 million BGN, are forthcoming.
Addressing foreign investors, Deputy Minister Yakimov stated also that the Sofia Tech Park, a structure under the Ministry of Innovation and Growth, has upgraded the first supercomputer in Southeast Europe. He added that starting next year, one of the six artificial intelligence factories in the European Union will be built at the Tech Park, and its computing capacities will be made available to businesses.
