Deputy Minister Pavlov: The engines of growth in the future are high-tech exports and investments in production with high added value

The drivers of growth in the future are high-tech exports and investments in industries with high added value, which develop their activity through the technologies of Industry 4.0. This was said by the Deputy Minister of Economy and Industry Nikolay Pavlov at the opening of the 15th edition of the international exhibition for industrial machines and technologies, robotics and industrial automation - MachTech&InnoTech 2024. According to him, these goals are set in both of the main strategic documents in economic policy – ​​the National Strategy for Small and Medium Enterprises 2021-2027 and the Innovation Strategy for Smart Specialization 2021-2027.

"The government's priorities for improving the business environment are aimed at improving the procedure for starting a business, creating an active network of SMEs and active cooperation with institutions and businesses," emphasized the Deputy Minister of Economy and Industry.

Nikolay Pavlov emphasizes that mechanical engineering is a traditionally developed and structure-determining sector in the Bulgarian economy, combining experience and traditions with specific European and international interest. "The industry contributes about 7% to the added value created by the processing industry and creates jobs for over 30,000 people," he added.

According to him, the prospects for the sector are the development of high-tech and medium-tech engineering. "Bulgaria has a number of advantages over many other countries, against the background of the transformation of the global engineering industry, we should take advantage and get directly involved in global value chains," Deputy Minister Pavlov pointed out. According to him, for this purpose, our country has a well-developed infrastructure, fast internet, as well as highly qualified personnel in the field of technical sciences and mathematics.

The Deputy Minister of Economy announced that over the past two years, industrial production in the sector has recovered its pre-crisis levels and is increasing. "The turnover index in the industry will grow by 18.2% in 2023," Pavlov announced. According to him, the export of machinery and equipment also shows a trend of sustainable growth in recent years, and for the period 2010-2022 it is over 200%.

This year, over 180 direct exhibitors from Bulgaria, Austria, Turkey, Italy, Germany, China and Romania are participating in the specialized exhibition MachTech&InnoTech Expo 2024. In the period October 1-4, more than 350 global brands in metalworking, industrial robotics and automation, welding technology, tools and 3D printing will be presented.