On 29.08.2023 in the city of Shumen a Discussion Forum was held with the business community in Shumen on the opportunities for funding from the Ministry of Innovation and Growth. The forum was jointly organized by Invest Bulgaria Agency (IBA) and the Ministry of Innovation and Growth (MIG).
Participants were Milena Stoicheva – Minister of Innovation and Growth, Hristo Etropolsky – Acting Executive Director of IBA, prof. Dobromir Dobrev – Regional governor of Shumen, Rositsa Antonova – Deputy Mayor of Shumen Municipality, Fikret Ince – majority owner of Alkomet AD, representatives from the Bulgarian Development Bank – Directorate General “European Funds for Competitiveness”, representatives from the Embassy of the Republic of Turkey and the Turkish-Bulgarian Chamber of Commerce and Industry, prof. Georgi Kolev – the Rector of Shumen University and others.
Regarding funding opportunities for small and medium-sized businesses, Minister Stoycheva stressed that the Ministry of Regional Development manages financial resources of more than BGN 5 billion for the current programming period until 2027 under two EU programmes – the Competitiveness and Innovation in Enterprises Programme (CIP) and the Research, Innovation and Digitalisation for Smart Transformation Programme.
Companies will also be able to apply for two other procedures of the Recovery and Resilience Plan. The first one is for the development of industrial zones and parks with a budget of 212.5 million BGN and the deadline for submitting documents is 5 November. The second is for the transition to a circular economy with a budget of BGN 180 million and the application deadline is 3 October.
The IBA presented in detail the incentives under the Investment Promotion Act (IPA) provided by the state and how the agency can assist in the opening of new investment projects.
Partner in the event was “Alkomet AD”, they provided their administrative building for the purpose of the forum. The company is an excellent example of sustainable investment and potential development in the region. In 2022 they also won the most prestigious award for business in Bulgaria “Investor of the Year”, an event which is organized annually by IBA. During the forum, Ivan Papazov, Plant Director of Alkomet AD, shared the company’s intentions to make a major investment in high-tech development to increase productivity and improve the quality of production. The new investment plan is worth BGN 137 million and will be implemented within three years and envisages various projects such as the expansion of Rolling Shop 2, the construction of a second Foundry Shop, a high-tech coil casting line, new high-tech presses in the Press Shop, a new passivation line in the Automotive Shop, etc.