Bulgaria to Stress Innovation Investments in 2014-2020 Programming Period

In the next 2014-2020 programming period, Bulgaria will allocate the main portion of funds under Operational Program Competitiveness to innovations and energy efficiency, according to Delyan Dobrev, Minister of Economy, Energy, and Tourism.

Speaking Thursday during an international forum on industry and innovations, he argued that these sustainable solutions would guarantee economic development and a much-needed high economic growth.

Dobrev said that investing in innovation was one way to reduce the high energy intensity of Bulgaria's industry in order to produce a competitive product with added value.

He explained that a voucher system would help companies introduce innovations by giving them access to R&D centers in Bulgaria and abroad.

Bulgaria's Economy Minister announced that export companies would be another priority in the next programming period, adding that Bulgaria's export increasingly resembled that of a third world country, consisting of  raw materials and agricultural goods.

Dobrev said that Bulgaria would also stress the production of goods and services with a high added value.

The Minister also informed about the upcoming launch of a pilot project allowing companies to file electronic application for funding under Operational Program Competitiveness.

Dobrev voiced expectations that the 2014-2020 budget of OP Competitiveness would not be smaller than the current one of EUR 1.17 B, adding that Bulgaria would seek to defend a bigger sum.