Bulgaria is seeking to strengthen its role in Europe’s reindustrialization while building a more innovative, high value-added economy, Prime Minister Rumen Radev said during a meeting with European Commissioner for Start-ups, Research and Innovation Ekaterina Zaharieva.
During the talks, Radev reaffirmed Bulgaria‘s ambition to achieve greater industrial and technological convergence within the European Union. He also emphasized the importance of ensuring that smaller member states have equal access to financing under the proposed European Competitiveness Fund (ECF), which is expected to become one of the central pillars of the EU‘s next Multiannual Financial Framework.
The fund is designed to help Europe narrow the innovation gap with leading global competitors, reduce strategic dependencies, and strengthen the competitiveness of the European economy by supporting research, advanced technologies, and industrial development.
Zaharieva stressed that the European Union must create better conditions for innovative businesses to grow within Europe instead of losing companies and talent to markets offering stronger financial incentives and greater opportunities for expansion, particularly the United States.
According to the European commissioner, one of the most effective ways to address this challenge would be establishing a single capital market across the EU. She said such a market would improve access to financing for research and development while giving startups and innovative companies greater opportunities to secure the investment they need to expand.
“A single capital market in the European Union would encourage investment in research and innovation while providing the financing necessary for startups to grow,” Zaharieva said during the meeting.
The discussions also covered the broader role of innovation and competitiveness in Bulgaria‘s economic development, preparations for the EU‘s next long-term budget, and the future of the Horizon Europe research and innovation program.
Radev and Zaharieva also exchanged views on the importance of cooperation between national governments and regional authorities in building sustainable ecosystems that support scientific research, technological innovation, and the development of startup companies across Europe.
