site.btaBulgarian Innovation Minister Discusses Investment Opportunities with Croatian Government, Car Manufacturer

Innovation and Growth Minister Milena Stoycheva Tuesday said that economic growth and increased competitiveness can be achieved by promoting innovation, creating favourable conditions for start-ups, and investing in research and development. Stoycheva was speaking at a meeting with Croatia’s Finance Minister Marko Primorac, the State Secretary at the Finance Ministry, Stipe Zupan, and the head of the Ministry’s international legal affairs and bilateral cooperation department, Sanja Spehar, the press centre of Stoycheva’s Ministry said.

Stoycheva and Primorac discussed opportunities for attracting investments in the high-tech sector in Bulgaria and Croatia. She briefed him on a methodology for granting state aid to Bulgarian and foreign investors, which her Ministry has developed in partnership with the Finance Ministry. Stoycheva and Primorac also discussed the development of the IT sector in Bulgaria and the role of research and innovation in attracting investors. The Bulgarian Minister recalled that her Ministry and Romania’s Ministry of Research, Innovation, and Digitalization had signed a Memorandum of Cooperation, noting that efforts are currently being put in to establish partnerships with Greece, Croatia, Slovenia, and Montenegro.

Stoycheva stressed that her Ministry is working towards turning Bulgaria into an innovation hub in Southeast Europe and the region into an innovation centre. She outlined a goal to create sustainable partnerships with the countries in the region, to attract talent, and to build technological capacity.

Primorac, for his part, highlighted the excellent cooperation between the Bulgaria and Croatia. He touched upon a successful initiative of the European Investment Fund (EIF), Croatia, and Slovenia to establish a joint technology transfer fund. Stoycheva added that her Ministry will initiate the establishment of a similar fund between the EIF, Bulgaria, and Romania. 

Later in the day, Stoycheva conferred with representatives of the Croatian electric vehicle manufacturer Rimac, briefed them on the investment opportunities in Bulgaria, and visited Rimac’s research and development centre.

Stoycheva also held a meeting with the management of the Faculty of Economics at the University of Zagreb, where the promotion of the science-business link was discussed.