Minister Stoycheva: The Three Seas Initiative region can be a leader in creating the new wave of innovation

All countries must join efforts to attract investors to increase the competitiveness of the countries of the initiative, Minister Stoycheva also said at the Three Seas Initiative business forum

The Three Seas Initiative region can be a leader in creating the new wave of innovation. We need to use the capacity of our economies and the talent we have to increase Europe’s competitiveness in deep technology innovation. This was stated by the Minister of Innovation and Growth, Milena Stoicheva, during the business forum of the Three Seas Initiative in Bucharest.

“All countries together must join efforts to attract investors to increase the competitiveness and capacity of the region”, said Minister Stoycheva. According to her, the countries participating in the Three Seas Initiative can support the development of innovation by creating a network and cooperation with each other in the same way as they do to attract investment.

“Bulgaria and Romania have good foundations for creating high-tech innovations and can attract global investors”, the minister emphasized and added that Bulgaria also attracts investors through the Bulgarian Development Bank and its participation in the initiative’s Investment Fund.

Stoycheva also stated that investments in digital innovations are needed to modernize the region’s digital connectivity. “Innovation, entrepreneurial thinking and cooperation are the basis of the growth of any country”, she added.

Minister Stoycheva pointed out that part of the government’s strategy and the mission of the Ministry of Innovation and Growth is to build a bridge between scientific and development activities and business. “The capacity that our universities have must be commercialized in business. We believe that scientific and research activity should be the basis for creating innovations, products with high added value for our economy. This is the winning strategy both for each country and for the entire region”, she added.

Within the framework of the business forum, the Minister of Innovation and Growth held a working meeting with the Vice President of the European Investment Bank, Teresa Czerwińska, with whom they discussed opportunities to attract investors to Bulgaria and the countries of Central and Eastern Europe and ways to support and develop business in our country.

Minister Stoycheva also spoke with representatives of high-tech companies such as Michael Punke, vice president of global public policy at Amazon Web Services. The two discussed a future visit of the company to Bulgaria. “I urge you to look at our country as a place to develop your research and development activity, bearing in mind the capacity of the Institute for Computer Science, Artificial Intelligence and Technology (INSAIT) in Sofia our well-developed entrepreneurial and startup ecosystem and the available funds to provide a resource”, Stoycheva stated during the talks.

The Minister of Innovation also held a meeting with her colleague Bogdan Ivan, Minister of Research, Innovation and Digitization of Romania, with whom they discussed the signing of a Memorandum of Cooperation in the fields of innovation, digitalization, the startup ecosystem, the development of high technologies, digital connectivity and scientific research , as well as other concrete cooperation measures between the two countries. The Bulgarian and Romanian ministers are expected to sign the agreement in October. The Deputy Minister of Innovation and Growth, Martin Gikov, also took part in the meetings.