Anna Yaneva, Bulgaria's Deputy Minister of Economy and Energy, has announced that the draft 2014-2015 reindustrialization action plan has been completed.

Speaking Friday at a conference in Plovdiv on industrialization and sustainable development organized by the Bulgarian Business Leaders Forum, Yaneva explained that the draft action plan included eight pillars of the industrial policy which were aimed at improving the functioning of the industrial enterprises.

The eight pillars included human capital and skills, access to funding, innovations and scientific and research activity in industrial enterprises, business environment, entrepreneurship, internationalization, investments and energy, according to the press office of the Ministry of Economy and Energy.

Yaneva specified that the reindustrialization action plan was still being amended and supplemented on the basis of recommendations and opinions of national administrative entities, professional organizations and trade unions.

Bulgaria's Deputy Minister of Economy and Energy announced that up to BGN 20 M from the 2014 state budget had been earmarked for innovations programs.

She said that the National Innovations Fund had already received BGN 10 M in January, with around BGN 6 M earmarked for new projects of Bulgarian companies and BGN 2 M for contracts already signed.

"The crisis paved the way for rethinking the role of industry and its importance for economic growth, investments, exports, employment, and the well-being of the population. This is why Europe is setting increasingly clear guidelines for the development of European industry related to strengthening the conditions for sustainable post-crisis economic growth through reindustrialization and modernization of the industrial basis," Yaneva stated, adding that this had caused the Ministry of Economy and Energy to prepare the draft action plan.

The conference "Bulgarian Industry: Mission Possible" was attended by over 150 guests, including senior managers of Bulgarian and international companies, representatives of the central and local authorities, economic experts, diplomats and journalists.

The topics discussed during the conference included opportunities for economic growth in Bulgaria and in the region of Plovdiv in particular, attracting foreign investments, priorities in funding under EU operational programs, successful examples of industrial development, and the challenges faced by businesses.

"Our motto is sustainable development combined with a responsible attitude and this is why we are here – to try to be helpful for the business sector and the state. Driven by the belief that industry in Bulgaria has huge potential, the BBLF decided to demonstrate good practices but to also highlight difficulties for investors and producers and help them boost dialogue with the local and central authorities," said Iravan Hira, BBLF Chair, at the opening of the conference.

He expressed hopes that Plovdiv would soon be called the industrial capital of Bulgaria.

"If local companies manage to regain their positions by the end of the term in office of the current government, this will be a major step forward," said Maxim Behar, member of the BBLF Management Board.

"The Plovdiv Municipality aims to achieve the hi-tech industrialization of the region. We are also trying to create a common economic area, economic zone Trakia," noted Plovdiv Mayor Ivan Totev.

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