Minister Stoycheva: Bulgaria and Egypt can work together to develop innovation ecosystems

The Minister of Innovation and Growth Milena Stoycheva and the Minister of Telecommunications and Information Technologies of Egypt Dr. Amr Talaat discussed steps to activate cooperation in the field of innovation, technology and the IT sector, digitalization, artificial intelligence, as well as investment opportunities between the two countries.

Minister Stoycheva is part of the Bulgarian delegation in Egypt, led by the Deputy Prime Minister and Minister of Foreign Affairs Maria Gabriel. During the visit, the first working meeting of the Joint Commission for Cooperation between Bulgaria and the Arab Republic was held. The Bulgarian delegation includes the executive director of the Bulgarian Investment Agency, Mila Nenova, and the executive director of the Executive Agency for the Promotion of Small and Medium Enterprises, Boyko Takov.

"Bulgaria and Egypt can work together to develop the innovation ecosystems and economies of both countries, as well as their positioning in the world market through high technologies. This will usher in a new era in our cooperation", stated Minister Stoicheva during the bilateral working meeting with the Minister of Telecommunications and Information Technologies.

She introduced the five thematic areas for smart specialization – information and communication technologies, mechatronics and microelectronics, bioeconomy and biotechnology, creative and leisure industries and circular and low-carbon economy as the sectors with high added value, the development of which is focused. The two ministers also discussed investments in human capital, research and development centers, the development of the IT and automotive sectors in both countries and the steps to turn them into innovation hubs in a regional aspect.

Minister Stoicheva also introduced the Minister of Telecommunications to the activities of the Institute for Computer Sciences, Artificial Intelligence and Technologies - INCSAIT. "The institute presented BgGPT - the first open artificial intelligence in the Bulgarian language. Bulgaria is one of the few countries in the world that develops such a platform in its own language," said Stoycheva. Minister Talaat explained that they have a similar institute in Egypt and the two agreed on cooperation in the field of new technologies through specific projects.

During the meeting, the advantages of Bulgaria as a good destination for investments were also discussed. It was agreed that the two ministries would start work on signing a memorandum on innovations, as well as on joint business visits by delegations from Bulgaria and Egypt.