ABOUT THE MINISTRY

Mission

The mission of the Ministry of Innovation and Growth (MIG) is to pursue a clear and transparent policy that protects the state and public interest and is based on European principles. MIG supports the common goal of introducing quality standards for evaluation and control of programmes, instruments and projects related to business incentives, facilitating the process of access, application and management in order to eliminate corruption and improve the economic environment.

The Ministry of Innovation and Growth is working to build a competitive economy that will ensure the growth and development of the regions in Bulgaria, promote and accelerate innovation and investment throughout the country and in all sectors of the economy.

The Ministry of Innovation and Growth works for the efficient, effective and results-oriented use of the European Union's Competitiveness Funds and the National Recovery and Sustainability Plan, as well as the promotion of cross-border projects, including European funding.

Goals

Development of a favorable environment for attracting investments, creating and applying innovations, improving Bulgaria's international image and attracting highly qualified personnel to support the growth of the Bulgarian economy and address social and global challenges through knowledge transfer, new technologies, digitalisation and enlargement access to national and European funding.

It will be implemented through a number of measures corresponding to European and national strategic documents, such as the National Development Program 2030, the Innovation Strategy for Smart Specialisation, the National Strategy for Promotion of Small and Medium Enterprises and others to increase growth potential.

Important aspects of the Ministry's policies are stimulating investment activity and accelerating export growth, encouraging investment in technological and innovative industries, positioning Bulgarian companies on international markets, supporting innovative start-ups and technology transfer. Part of the means to implement these policies will be more effective coordination and precise focus of institutions and financial mechanisms in the field of economy in support of small and medium-sized businesses and increase competitiveness, with a special focus on innovation and exports; the establishment of an Innovation Board and the improvement of cross-sectoral and inter-institutional coordination in terms of innovation and technology penetration into all sectoral policies and stimulating legislative reforms to attract private investment in R&D, commercialisation of high-tech products, value-added chains and access to business to e-services and financing.

`Increasing the potential for economic growth and improving the opportunities for internationalisation and building the international competitiveness of Bulgarian companies;

`Strengthening the potential for sustainable growth of the Bulgarian economy by addressing deterrents in the business and investment environment and reducing administrative and regulatory burdens;

`Increasing competitiveness by ensuring the rapid introduction of innovations, increasing technology transfer in support of green and digital transition of enterprises and attracting investment in productions and services with high added value.