Bulgaria Aims to Strengthen Its Role in Europe's Reindustrialisation, Says Prime Minister

Bulgaria is working to solidify its place in Europe's reindustrialisation and to develop an innovation-driven economy with high added value, Prime Minister Rumen Radev said during a meeting with European Commissioner for Start-ups, Research and Innovation, Ekaterina Zaharieva.

The Prime Minister highlighted Bulgaria's ambition to achieve greater industrial and technological convergence within the European Union and to ensure equal access for smaller member states to the resources of the new European Competitiveness Fund.

The fund is one of the key pillars of the EU's next Multiannual Financial Framework. It is designed to help Europe close the innovation gap with its leading global competitors, reduce strategic dependencies and strengthen the competitiveness of the European economy.

In this context, Commissioner Ekaterina Zaharieva stressed the need for the European Union to create more favourable conditions for the growth of innovative companies in Europe, in order to curb the trend of high-tech businesses and talented professionals relocating to markets offering more attractive funding and growth opportunities, including the United States.

As a potential opportunity in this regard, Zaharieva pointed to the creation of a single capital market within the EU, which would encourage investment in research and development and provide the financing needed for start-ups.

Photos: Council of Ministers

Among the other key topics discussed were the importance of competitiveness and innovation for Bulgaria's development, preparations for the European Union's next Multiannual Financial Framework, the future of the Horizon Europe programme, and the role of national and regional authorities in building sustainable ecosystems for research, innovation and the development of startups.