Deputy PM: Bulgaria cannot develop economy on basis of cheap labour

The state and the private sector need to invest in high technology and robotics to increase the added value of production, and not to have Bulgaria’s economy based on low labour costs, Deputy Prime Minister Tomislav Donchev said on September 24.

Speaking in Plovdiv at the opening of the 74th International Technical Fair, Donchev said that in the past 10 years the private sector in Bulgaria had managed to go a long way and to orientate towards more production and more exports, so as to compete successfully on the European market.

The state should focus its efforts on easing conditions and procedures for entrepreneurs and investing in good administration and quality education, he said.

More than 550 companies from 35 countries in Europe, Asia and North America are participating in the 2018 International Technical Fair in Plovdiv.

Most strongly represented are Germany, Italy, India, Romania and Turkey.

There is a special emphasis on India. The exhibition features more than 40 companies from a country with one of the fastest growing economies in the world, and a forum for stimulating business contacts between India and Bulgaria, a Bulgarian government statement said.




The Sofia Globe staff

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