site.btaInnovation Minister Presents Bulgaria's Investment Opportunities to American Companies in Washington, DC

Meeting with representatives of businesses which are members of the American-Central European Business Association (ACEBA) in Washington, DC, Bulgaria's Innovation and Growth Minister Milena Stoycheva presented the government 's targeted efforts to improve the investment climate and its policy towards sustainable development of innovation and competitiveness in all sectors of the economy. The working meeting was attended by representatives of Skydio, Мerck, Meteomatics, Lockheed Martin and Smartmatic, among others, the Innovation and Growth Ministry said.

Stoycheva said Bulgaria is a strategically important country for investment. It is developing opportunities to become an innovation hub in Southeastern Europe, which will enhance both its own global competitiveness and that of the region. The Minister said her country is focused on attracting investment in high and deep technology and in high value-added sectors.

ACEBA CEO and founder Eric Stewart, who led a delegation of American companies to Sofia last week, stressed that businesses have a strong interest in investing in Bulgaria.

Stoycheva outlined the measures on which her Ministry is working to streamline administrative procedures and increase the effectiveness of financial incentives.

Later on, Stoycheva held meetings with State Department representatives responsible for trade and economic affairs, science, communications, technology and space.

She said her Ministry has identified five areas of smart specialization on which it has focused its efforts: ICT, mechatronics and microelectronics, healthy living industries, bioeconomy and biotechnology, creative industries, circular and low carbon economy. Stoycheva stressed the need to put Bulgaria on the global map of high-tech countries.

At present, the Ministry is preparing Bulgaria's formal administrative inclusion in the Chips Joint Undertaking, which will finance measures under the European Chips Act.  An Innovation Board is being set up at the Ministry, which is developing measures to promote innovation as the foundation of economic and technological growth, Stoycheva said.

The participants in the meeting discussed the steps following Bulgaria's accession to NASA's Artemis Accords, which define the basic principles for global cooperation in outer space.