Industry makes up over 25% of jobs and output, Bulgaria's economy minister says

Industry makes up more than 25% of Bulgaria's gross value added and supports around 250,000 jobs, deputy prime minister and economy, investment and industry minister Alexander Pulev said. He spoke at the opening of events marking the 20th anniversary of the Bulgarian Federation of Industrial Energy Consumers (BFIEC).

Pulev told the forum the economy needs change, more predictability for business and institutions that work better. The state should back industry in every way it can, he said, so that companies can grow instead of just getting by.

He said the energy minister had helped secure funds from the Electricity System Security Fund for heavy energy users. Pulev expects most of these firms to put the money into energy security and cutting their power use. The government wants industry not just to get through the current energy crisis, but to have room to grow afterward, he said.

Support for business also means a big shake-up in the administration, to cut red tape and restrictions, Pulev said. He added that officials are working on a plan to ease the paperwork burden on companies, drawn up through talks with business and industry groups.

Among the government's top priorities are:

  • New rules on public-private partnerships, aimed at bringing in private money alongside EU funding to rebuild roads, bridges and other infrastructure
  • Expanding industrial zones and linking them better to transport networks
  • Upgrading the power grid
  • Cutting carbon emissions and bringing in green technology — a major issue across Europe that will shape the next EU long-term budget

Pulev said the government's main job is to make sure Bulgarian industry can compete, invest and grow.

The economy minister said a package of support worth more than 200 million euros has been rolled out. He gave the update on Wednesday at a hearing before parliament's economy committee, alongside the energy ministry. The money is meant to encourage firms to save energy and run their operations more efficiently. It goes to industries that provide close to 250,000 jobs and make up 25% of gross value added.