In a few days we will open the “Circular Economy” procedure with a budget of 90 million euros for Bulgarian companies to apply

At the moment, 39 projects worth about 1.5 billion euros are in the process of being certified under the Investment Promotion Act. They are expected to create nearly 5200 new jobs. The projects are mostly in the IT, healthcare, manufacturing, warehousing sectors. This was announced by the Minister of Innovation and Growth Milena Stoycheva in the morning program “Hello, Bulgaria” on NOVA TV.

The Minister pointed out that she and her team are working to make Bulgaria a destination for high-tech investments with high added value. “Our goal is to rebrand Bulgaria as a good destination for investments, where investors feel calm, confident and develop their scientific and development activities and not to be a destination that provides cheap labor. For this to happen, we need to develop the new model and put in the foreground the kind of companies, products and services that are distinctive and that create high added value”, explained the Minister of Innovation and Growth.

Since the beginning of the year, 13 investment certificates have been issued for nearly 95 million euros which will create 850 new jobs. They are mainly from the processing industry and are in the regions of Burgas, Targovishte, Vidin, Svishtov, Haskovo and others. The Minister of Innovation and Growth pointed out that due to the lack of a regular government, sustainable and long-term measures there is a stagnation of investments, but serious interest is already visible from countries in Europe and outside the EU.

“We have a reason to bring to the fore the potential related to research and development activity, which is the basis of the modern generation of innovations”, said Minister Stoycheva.

She emphasized that the Ministry of Innovation and Growth has a significant financial resource of over 3 billion euros, which within the program period until 2027 should be provided to micro, small and medium-sized enterprises in order to develop the capacity themselves, to develop and implement innovations, as well as to interact with research organizations. As an example, the Minister announced that within days the last procedure under the Recovery and Sustainability Plan for Bulgaria under the Ministry of Innovation and Growth – “Circular Economy” will be open for applications. According to it, micro, small, medium and large companies will have access to 90 million euros for their transition to a circular economy.

Regarding the subject of artificial intelligence, the Minister emphasized that it is important for people to be educated and familiar with the advantages and opportunities that new technologies provide. “It’s natural for people to worry about artificial intelligence. But it is important to emphasize that artificial intelligence has its natural presence and will increasingly enter our lives. This is the natural evolution of technology. Our ministry, together with other ministries, will organize a conference that will provide knowledge and present investment opportunities and the advantages of using artificial intelligence as a technology for society and for each of us”, Stoycheva said.