site.bta VMZ Sopot Lays Out Plans for Future High-Tech Park

VMZ Sopot Lays Out Plans for Future High-Tech Park

Sofia, February 11 (BTA) - The Economy Ministry announced that the VMZ Sopot ordnance plant is heading down the road of innovation and high technology and that a high-tech park may be built on its territory.

Caretaker Economy Minister Teodor Sedlarski visited the plant of Friday and met with the management and the trade unions at the plant to discuss a programme for technological modernization. The meeting laid the foundations for the development of a project for the construction of a high-tech park on the plant's premises, which will include a research centre, a laboratory, an experimentarium, an assembly unit and a testing range.

The plant aims to ensure growth through investments. Minister Sedlarski was familiarized with the good economic indicators of VMZ Sopot. The meeting discussed the upcoming financial report of the company and the possibilities to clear losses from previous years. Another 500 jobs are expected to be opened at the plant.

The good performance of VMZ Sopot has contributed to the economic revival of the whole region where unemployment is less than 3 per cent.

The VMZ Sopot management raised the issue of the need for more state-sponsored admissions for engineers at Bulgarian higher education establishments. Currently, the plant is paying the education of 67 students and provides internships to students from the higher military schools in Veliko Turnovo and Shoumen.