A Competitiveness Advisory Council will be established in Bulgaria

The idea for a Competitiveness Advisory Council (CAC) was presented during a special event attended by Tomislav Donchev, Deputy Prime Minister and Minister of Innovation and Growth. It marks the beginning of a strategic national initiative with a long-term vision, supported by the country's private sector.

The aim of the Council is to help improve the competitiveness of the Bulgarian economy by creating and implementing innovations, building effective links between different sectors and ensuring international representation of companies, universities and industrial organisations in Bulgaria.

The Competitiveness Advisory Council was initiated in partnership with Glavbolgarstroy Holding AD and Asarel-Medet AD, two of Bulgaria's leading companies in the construction and mining sectors.

During the event at which the Council was presented, opportunities for it to partner with public institutions by providing expert opinions to support long-term policies in specific priority areas were discussed.

The initiative has already received international recognition from the Global Federation of Competitiveness Councils (GFCC) – a leading global organisation based in Washington. It brings together over 50 companies, scientific and business organisations from 35 countries. The global network focuses on innovation, scientific and technological progress and social prosperity.

Deborah L. Wins-Smith, President of the GFCC, personally welcomed the establishment of the CCI in Bulgaria and emphasised its important role against the backdrop of global trends in technology development, international trade and economic security.

Cooperation at local and global level

An important moment for the future development of the organisation was the signing of a memorandum between the initiators of the KSC in Bulgaria – Kalin Peshov, Chairman of the Management Board of Glavbolgarstroy Holding, and Dimitar Tsotsorkov, Chairman of the Supervisory Board of Asarel-Medet – and Ms Wins-Smith. The document provides for the future accession of the Bulgarian organisation to the GFCC global network.

The representatives of leading companies, universities, scientific institutes and business organisations in the country present at the meeting expressed their commitment to active dialogue and cooperation within the framework of the BCC. In this way, the Council is establishing itself as a key partner in the process of building a competitive, innovative and globally connected Bulgarian economy.

Emphasis will be placed on building working partnerships for the exchange of knowledge, technologies and good practices from and to Bulgaria, including through active cooperation with international organisations that share the same vision. Through synergy between science, business and institutions, the CCS will develop proposals and initiatives that have the potential for real transformation aimed at increasing competitiveness, accelerating innovation and the stable development of the Bulgarian economy.

About GFCC

The Global Federation of Competitiveness Councils (GFCC), established in 2010, is an international organisation that supports economic growth through innovation, higher productivity and human capital development.

The Federation connects the public and private sectors, creating opportunities for the exchange of best practices and the development of sustainable economic strategies. Through various international initiatives, the GFCC promotes active dialogue and cooperation on key global economic issues.

At the GFCC Annual Meeting in 2022, Glavbolgarstroy was officially accepted as a full member of the organisation from the South-East Europe region. The construction holding company is the first member of the Global Council from Bulgaria and one of the few members from the region and the Mediterranean.

Photos: Mario Shumanov

Translated with DeepL.