site.btaEconomy Ministry's Project for National Industrial Strategy Approved for Funding by EC

The European Commission has officially approved a project of the Bulgarian Economy and Industry Ministry for a National Industrial Strategy, the Ministry said on Friday. The strategy will be developed with the full financial support of the European Commission through the Technical Support Instrument of the Directorate-General for Structural Reform Support within the 2024 cycle.  

Industry development is a key priority for this country and requires a separate strategy, the Ministry noted. The strategy will encompass major industrial policy themes: reducing the industry's carbon footprint, increasing digitization in manufacturing, improving resource and energy efficiency, introducing circular production models, and promoting investor interest in the country's industrial parks. The strategy is intended to include two sectors of the Bulgarian economy: manufacturing and extractive industries.

In this regard, the Economy and Industry Ministry has developed a concept for the development of industrial parks and zones 2024-2028. The strategic objective of the document is to contribute to the implementation of a comprehensive new development policy based on a regional principle, with a view to creating conditions for attracting strategic investors to the country. The document identifies target regions and sectors, highlights and analyzes business opportunities and the real demand from investors, and considers the specificity and level of infrastructure development of individual industrial sites.

The concept aims to present the vision for the development of industrial parks and zones as a prerequisite for attracting strategic investors in high value-added sectors. Emphasis is placed on the development and construction of industrial parks and zones through the National Company Industrial Zones (NCIZ) in Northern Bulgaria: Vidin Industrial Park, Pleven - Telish Industrial Park, and Ruse Free Zone. The completion of the Sofia-Bozhurishte Industrial Park and Burgas Industrial and Logistics Park, well-developed with state participation, will be further pursued by investing in urgent infrastructure improvements and attracting high-tech projects.

The document sets out a concept for the construction of new zones: Dobroslavtsi Industrial Zone, Stara Zagora Industrial and Logistics Hub, and Aksakovo Industrial Park, located in key regions of the country. 

The Ministry also highlighted the possibility of accelerating the development of some of the industrial parks through a public-private partnership (PPP) between the State and international or local investors equipped with the necessary know-how. There is also an opportunity to implement successful market-oriented projects on the basis of PPPs through the establishment of joint ventures with state (or municipal) and private partners.

In addition, financing opportunities are outlined for the infrastructure development of already existing NCIZ projects and prospective projects for new industrial parks and zones. The funding is available through instruments of the World Bank and the European Bank for Reconstruction and Development. 

At a forum here on Thursday, outgoing Economy and Industry Minister Bogdan Bogdanov said that the European Commission has approved a project of his Ministry for building a single investment portal, which aims to direct all administrative activities towards servicing potential investors in Bulgaria.