Bulgarian Industry: State, Development and Growth Potential According to Bulgarian Industrial Policy

Authors:

Pages: 13-20

Abstract:

Bulgarian industry has a potential to be as a crisis balance onto the Bulgarian economy. Over the years, it is proven that industry can reduce the negative impact of a financial crisis and over time, and can initiate economic growth. But, not just the Bulgarian but European and world Industries are developing at an unknown rate nowadays. In just one generation, we have witnessed two major industrial revolutions (Industry 3.0 and Industry 4.0, respectively) and we are on the cutting edge of the next one (Industry 5.0). The success of an individual industrial enterprise, the success of entire industrial sectors, even the success of the entire industry requires flexibility, adaptability and, above all, institutional support. The necessary institutional support should assist the transition from Industry 4.0 to Industry 5.0 – from development of an appropriate Industrial Development Strategy 2030, through the approval of appropriate digitalization measures and achieving the criteria of a regenerative economy, to individual industrial enterprise placement into the global value chains. The pillars on which institutional support should be developed are set by the world scientific society, and the task of the various Bulgarian institutions is to properly arrange the puzzle of the Bulgarian industry. This paper look for answering the following questions: 1. How the global industry is developing. 2. Where is the Bulgarian industry located and what are the prospects for the development of Industry 4.0. 3. What are the Bulgarian industry growth perspectives based on the National industrial policy

Keywords:

Industrial growth, Industry 4.0, Bulgaria, Industrial policy.

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