Deputy economy minister Krasimir Yakimov has set out five priorities to make Bulgaria more competitive. He spoke at the Global Innovation Summit 2026. The aim is for Bulgaria to stop relying on cheap labour and low-cost production and move to products and services with high added value.
"Bulgaria faces the need for a complete economic transformation," Yakimov told participants from more than 30 countries.
The Global Federation of Competitiveness Councils (GFCC) organises the forum. This year's theme is "Driving competitiveness: energy, infrastructure and digital innovation for economic transformation".
The five priorities in the plan are innovation and technology, attracting foreign investment, reform of the administration, growth of industrial parks, and stronger international co-operation and partnerships. Yakimov also named six sectors the state is backing: high-tech manufacturing, microelectronics, artificial intelligence, cybersecurity, the defence industry and aerospace technology.
As an example in artificial intelligence, he pointed to the Institute for Computer Science, Artificial Intelligence and Technology (INSAIT). Yakimov said the institute helps Bulgaria win a better position in this field.
The deputy minister said competitiveness is the main priority and industry is at the centre of the cabinet's plans. He said this means restructuring production, investment with high added value and quality jobs.
"Our goal is clear: the government must be a partner to business, not an obstacle," Yakimov said. For this reason, the state wants less red tape for firms, clearer rules, and modern energy, transport and digital networks. Modern industrial zones should draw investment and help the regions.
In energy, the government is working on stronger power grids, better links with neighbours and greater energy security and sustainability. Yakimov said that in today's uncertain world, a country is competitive if it can create value and adapt. He said this needs well-run institutions, modern roads and networks, access to money for development, trained staff, and a partnership between the state, science and business.
Yakimov said Bulgaria can share its experience in modernisation, innovation and development. He said he expects the forum to bring an exchange of good practice, new partnerships and ideas that turn into real investment.
He invited the foreign participants to work with Bulgarian firms and institutions and to build long-term partnerships.