site.btaEconomy Minister: Microelectronics and Mechatronics Sector Is One of Fastest Growing, Innovative Sectors in Bulgarian Economy

The microelectronics and mechatronics sector is one of the fastest growing and most innovative in the Bulgarian economy, Economy and Industry Minister Bogdan Bogdanov said at a round table on promoting cooperation between the UK and Bulgaria in the field of semiconductors and microelectronics, moderated by UK Ambassador to Bulgaria Rob Dixon, Bogdanov's Ministry said in a press release on Wednesday. According to the economy minister, it is among the key industries for future growth and investment in the country.

"We have huge potential in microelectronics, but we need to concentrate our efforts in specific areas, such as creating new products, designing chips and electronic sensors, manufacturing components for robotics," Bogdanov is quoted as saying in the press release.

In his words, Bulgaria has great potential to attract investors in the sector, along with sufficient expertise and trained engineers. He added that more and more development centres of international companies from different sectors are being opened in the country, which creates an additional incentive for the development of the industry.

"We are actively working to create a favorable institutional environment for business, including the construction of prepared industrial sites and opportunities for the development of research and development, and the positioning of training centres in them," Bogdanov said.

"Our ambition is to change the economic landscape of the country. The future lies in the development of technologies with high added value, and Bulgaria is increasingly becoming a competitive destination in the region and Europe," the minister stressed. In his words, Bulgaria has a proven engineering capacity and is no longer a destination for cheap labour. "With the raw materials and components we produce, we can be an important factor in the supply chain in the coming years," Bogdanov added.

The forum, organised by the British Embassy, discussed opportunities to build partnerships between the two countries. British experts shared experience and good practices, and an idea was presented for developing a regional microelectronics centre in Bulgaria based on the British experience with centres and training programmes. In Bulgaria, over 400 companies work in the mechatronics, electronics and microelectronics sectors and make a major contribution to the development of the economy, employing around 60,000 people. They are export-oriented and have some of the most modern production facilities and highly qualified personnel, the press release says. 

"I see great potential for partnership with the UK in the sector. Together we can play a key role in the international market," Bogdanov pointed out.

The event was also attended by Deputy Economy Minister Nikolay Pavlov, Deputy Regional Development and Public Works Minister Angelina Boneva and Deputy Finance Minister Ivaylo Yajdjiev, representatives of the Innovation and Growth Ministry, the Bulgarian Academy of Sciences, university professors, heads of leading companies from both countries working in the field of microelectronics and semiconductors, and representatives of business organizations.