site.btaEconomy Ministry's Policies Outlined at Business Meeting

Deputy Economy and Industry Minister Ivailo Shotev gave a general outline of the policies of his ministry during a discussion on Monday hosted by the Bulgarian Chamber of Commerce and Industry, Shotev's ministry said in a press release. The discussion was titled "Innovation: A Leading Factor for the Development of Enterprises and Regions".

Shotev said the Economy and Industry Ministry is working to improve the domestic business climate. It also keeps working for Bulgaria's accession to the Schengen area, the eurozone and the Organisation for Economic Co-operation and Development, which is expected to bolster the country's economic development, he said.

Shotev highlighted the ministry's policies in support of enterprises and for increasing their competitiveness. He noted: "We want to develop a knowledge-based economy by expanding the share of high-tech production and services, promoting digitization and raising the level of industrial automation and robotization."

Helping businesses expand into new third-country markets is another priority. Shotev said this year's focus is on Saudi Arabia, the United Arab Emirates, Egypt, Vietnam, South Korea and Japan. Bulgaria's commercial services abroad are helping Bulgarian companies gain a foothold on foreign markets.

The ministry is putting a lot of effort into developing industrial zones, Shotev said, adding that industrial parks should specialize in serving concrete industries of high value-added.