Deputy Minister Yakimov to business: We are about to open procedures for BGN 350 million for the modernization of enterprises

By the end of the year and next year, several procedures with a total budget of around BGN 350 million will be opened under the "Competitiveness and Innovations in Enterprises" Program. The funds are for the modernization of Bulgarian companies and their development. This was announced by the Deputy Minister of Innovation and Growth Krasimir Yakimov during the international conference "Circular Economy and Ecodesign in the Furniture Industry - Challenges and Opportunities" in Sofia. The event is organized by the Executive Agency for the Promotion of Small and Medium Enterprises (IANMSP) and the Branch Chamber of the Woodworking and Furniture Industry. More than 70 companies from the sector attended the forum.

"In recent years, the furniture industry in Bulgaria has greatly changed its appearance towards the digitization of its processes and the introduction of new technologies. "Ministry of Innovation and Growth actively supports business both through the European programs and with various measures under the Investment Promotion Act (IPA)," Yakimov said. He added that for the last 3 years, 3 projects for about BGN 45 million investments and 150 new jobs in the furniture industry sector have been certified under ZNI. "We encourage investors to take advantage of these measures to develop their business," said the deputy minister.

Yakimov presented to the companies the possibilities for support through financial instruments under the Fund of Funds. It is expected that by the end of the year, a procedure for the selection of financial intermediaries for the "Circular Economy" financial instrument will be announced, and the enterprises of the furniture industry will also be able to benefit from financing to promote energy efficiency.