domenica, 1 Ottobre, 2023
domenica, 1 Ottobre, 2023
Home NotizieEconomia InvestBulgaria Agency: Automotive Is Among Fastest Growing Sectors in Bulgaria

InvestBulgaria Agency: Automotive Is Among Fastest Growing Sectors in Bulgaria

by Matey Todorov
1 minuti di lettura

According to the observations of experts from the InvestBulgaria Agency (IBA), the fastest growing sectors in Bulgaria at the moment are automotive, mechanical engineering, electrical engineering, and information technology. There is also growth in the robotics and mechatronics sectors. Thе data was presented on Thursday in Varna by the acting executive director of the agency Hristo Etropolski during a round table on technologies defining the future of digital transformation. The forum was organized by DXC Technology. The discussion brought together experts from the IT sector, academia and business, with the Minister of Innovation and Growth Milena Stoycheva also participating in the conversation.

IBA promotes Bulgaria on the global stage, trying to brand it as a good place for investment, Etropolski added.

Fifteen years ago, the state started to promote the automotive sector, he said. Then, the annual turnover of this industry was half a billion euro, realised by about 40 companies, and there was not a single centre for scientific development. Now the sector’s annual turnover exceeds EUR 8 billion, which is 11% of the country’s GDP, Etropolski specified. The industry also relies on 36 R&D centres, with two more to be launched shortly.

The number one problem for investors is the lack of sufficient qualified staff, Etropolski added. He specified that to maintain the development trend, in the short term it would be good to ease the procedures and opportunities for recruiting labour from third countries.



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