Bulgarian Industrial Capital Association (BICA)

The competitiveness of the European economy, the need to stimulate investment and accelerate reindustrialization were among the main topics of a working business breakfast organized by the Bulgarian Industrial Capital Association (BICA) with representatives of the diplomatic corps of the European Union Member States and the EU candidate countries from the Western Balkans.
The meeting was attended by the Head of the European Commission Representation in Bulgaria, Dr. Yordanka Chobanova, as well as members of the BICA management. The diplomatic corps was represented by ambassadors, a chargé d’affaires and representatives of the diplomatic staff of the embassies of the Republic of Albania, the Kingdom of Belgium, Bosnia and Herzegovina, the Republic of Finland, the Republic of Greece, Hungary, the Kingdom of the Netherlands, the Republic of Poland, Romania, the Republic of Slovenia, the Czech Republic and Montenegro.
The Chairman of the Management Board of BICA Rumen Radev stressed that increasing the competitiveness of European industry should be among the leading priorities in the policies of the European Union, as the business expects consistent measures to develop large-scale electricity connectivity, energy infrastructure and electricity generation, to reduce the administrative burden, improve the regulatory environment and encourage investments. “Europe needs policies that put competitiveness, industry and investments at the center of the agenda. Only in this way will the European economy be able to successfully respond to global challenges and preserve its economic strength.”
During the meeting, BICA presented the vision of Bulgarian business for increasing the competitiveness of the European economy in the context of the upcoming policies of the European Union. Among the main priorities were preserving macroeconomic, financial and tax stability, stimulating investments in the real manufacturing sector, reducing the administrative burden, accelerating e-government, introducing OECD good practices, as well as adapting the European Green Deal to the need for higher competitiveness and reindustrialization of the European economy.
Emphasis was also placed on the need for real actions to build effective e-government, limiting the shadow economy and undeclared work, stimulating innovation and the implementation of new technologies, as well as ensuring competitive electricity prices for industry through targeted support for energy projects, such as investments in energy storage systems under the RESTORE mechanism of the NLP. Specific examples of successfully implemented projects were clearly demonstrated.
The BICA's proposals for reforms in social policy and healthcare were also presented, including strengthening the capital pillars in the pension model, better targeting of social support, promoting access to childcare facilities and healthcare reform with an emphasis on prevention.
During the discussion, the participants exchanged views on issues related to the development of energy, investments, industrial policy, economic cooperation, support for small and medium-sized enterprises and the role of diplomatic missions in expanding business contacts between Bulgaria and their countries.
The participants in the meeting expressed their readiness to continue the development of this format of dialogue with the diplomatic corps and European institutions as a platform for promoting economic cooperation, investments and the exchange of good practices in support of the competitiveness of the Bulgarian and European economies.