BCCI Founded a Competitiveness Council at a Time when Europe is Restructuring its Industrial Policy

Europe is entering the most serious phase of industrial and technological restructuring since decades now. After years of pressure on the European economy — from the high energy prices and broken supply chains to the enhancing competition from the U.S.A. and China — Brussels already redirects its policies, regulations and investments towards accelerated reindustrialisation, clean technologies, digitalisation and strategic autonomy.

Against this background, the Bulgarian Chamber of Commerce and Industry established a Competitiveness Council — a new expert body which will work to better connect Bulgarian businesses with the changing economic and industrial environment in Europe.

The Council was established on 11 May in BCCI with the participation of representatives of businesses, the technological sector, the energy and academic community, as well as experts in fields such as artificial intelligence, cybersecurity, the circular economy, investmentс, digitalisation and regional development. Dr Eng. Veselin Todorov was elected as Chairman of the Council and Assoc. Prof. Kosyo Stoychev – as Vice Chairman.

The new body will have the goal of supporting businesses in the processes of adaptation to the new European policies related to competitiveness, industrial transformation, access to technologies, investments and qualified personnel. The main topics, on which the Council will work, are industrial decarbonisation, energy efficiency, artificial intelligence, digitalisation, the circular economy, innovations and the development of professional skills.

The idea is that the Council functions as a permanently acting expert platform with a practical focus on the real challenges to companies, including small and medium-sized businesses, which constitute a significant part of the economy and of the BCCI membership structure.

“The role of BCCI has always been to be a bridge between businesses, institutions and the international partners of the Bulgarian economy. In the next years, the topic of competitiveness will be crucial for the development of companies and for Bulgaria’s position in the European economy,” stated BCCI President Tsvetan Simeonov at the opening.

According to him, the changes in the EU industrial and economic policies require a more active dialogue between businesses and institutions, as well as a stronger expert capacity on topics which already exert direct influence on investments, production and the development of companies.

“Competitiveness is not a matter of labour costs or cheap energy any more. Europe is entering a period, in which the access to technologies, industrial capacity, skills, capital and the speed to achieve adaptation will determine which economies will grow and which will lag behind,” commented Dr Eng. Veselin Todorov, Chairman of the Competitiveness Council at BCCI.

“Bulgarian businesses need not just information, but practically oriented expertise, better connectivity with the processes which are already running at European level, as well as real mechanisms for increasing productivity and added value,” he added.

It is expected that the Council gradually turns also into a platform for exchanging expertise, practical guidelines and analyses focused on key topics related to the competitiveness of Bulgarian companies. Key areas of focus will include the interpretation of European policies and regulations, the identification of specific barriers to businesses and the discussion of practical solutions in fields like energy efficiency, digitalisation, industrial transformation and access to investments.

One of the Council’s goals will also be to assist companies in orienting themselves in the increasingly complex European regulatory and investment environment, which – in the next years – will have more and more direct influence on production, the access to markets and the investment decisions.

It is envisaged to include representatives of businesses, experts, universities and partner organisations in the work of the Council, depending on the specific topics and initiatives.