site.btaUPDATED Deputy Prime Minister Donchev Says Bulgaria Should Produce Complete Products, Not Just Components
Speaking at the Bulgaria Across Five Oceans career forum on Saturday, Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev highlighted the need for Bulgaria to move beyond producing components and start manufacturing complete products.
The backbone of the Bulgarian economy is its manufacturing, its industry, and its high value-added services, Donchev said. “The sad reality is that much of Bulgarian society -politicians, journalists, analysts - does not truly understand the Bulgarian economy. This breeds economic nihilism and poor career guidance,” the Deputy Prime Minister said.
Donchev noted that there is a growing need for engineers, saying that with smart policies and leadership, Bulgaria is capable of achieving sustainable economic growth of 3–4%, instead of 1–2%. “We can produce increasingly sophisticated goods,” he added.
He cited statistics showing that 80% of cars produced in Europe contain a component made in Bulgaria. Donchev said that Bulgaria should aim higher and start producing whole cars.
Donchev also noted Bulgaria’s strong position in the field of artificial intelligence (AI), calling the country a regional leader. He said that in 2026, with support from the European Commission, EUR 90 million will be invested in a new AI supercomputer.
“The best is yet to come, but it will not happen on its own. It will take the concerted effort of institutions and the public. Infrastructure matters, machines matter, but people matter most.”
Donchev took part in a panel discussion titled “Innovation and Investment,” where he was joined by Vladi Grozdanov, co-founder of Barin Sports, Martin Ganchevski of Schneider Electric, and Dobromir Ivanov, Executive Director of the Bulgarian Entrepreneurial Association.
The Deputy Prime Minister said that education is the most important factor for maintaining the competitiveness of Bulgarian industry. “We have engineers in Bulgaria earning five-figure salaries. So why are not more young people choosing engineering?“ he asked. There is a clear disconnect between education and the actual needs of the economy and these disparities must be addressed, Donchev noted.
He also stressed the need to streamline the investment process. In his words, if all goes according to plan, new economic opportunities will begin to open in Bulgaria from January 1, 2026. “Being part of the euro area means being at the core of Europe, where decisions are made,” Donchev added.
/IV/
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