Innovation and Growth Minister Donchev: New Technologies Set the Pace for Economic Development

Kaloyan Kirilov

Minister of Innovation and Growth Tomislav Donchev (left) and Polish Ambassador to Bulgaria Maciej Szymanski at the Polish-Bulgarian Fintech Bridge: Shaping the Future Innovation conference, Sofia, June 17, 2025 (BTA Photo/Milena Stoykova)

Sofia,

17.06.2025 12:13

(BTA)

New technological solutions not only provide convenience for users but also determine the pace of economic and business growth, Minister of Innovation and Growth Tomislav Donchev said on Tuesday.

He suggested that society needs to carefully consider the rights of citizens and consumers when dealing with new innovations.

Donchev raised several questions for the day's discussion: how ready society is for the world of innovation, at what pace new technologies are absorbed, and how much resistance there is to change. He said there must be special care for the rights of citizens and consumers. For this reason, whenever something new emerges, there is an automatic reflex to regulate it immediately, which is not always the best solution, Donchev said, referring to artificial intelligence. In his words, such a reaction makes sense in terms of consumer rights, but sometimes it is more important to be quick, to be first, and to gain experience. “No one can stop progress. Resistance to it will only make us fall behind,” he said.

Donchev also said that he and Polish Ambassador to Bulgaria Maciej Szymanski have discussed many times how to use the excellent political relations and close ties between the two nations to create new business partnerships and promote more joint efforts in education and science. “I believe today’s event is a step in that direction,” Donchev said.

According to him, fintech services undoubtedly democratize, decentralize, and liberalize the world of money, making access much broader and costs much lower.

The conference is held under the patronage of Minister of Innovation and Growth Tomislav Donchev and within the framework of the Polish Presidency of the Council of the European Union. The event is organized by the Embassy of Poland in Bulgaria, the Bulgarian Fintech Association and Fintech Poland.

/NZ/