Economic growth must be sustainable, with a responsibility to future generations, and based on legitimate priorities and strategic planning, President Rosen Plevneliev said in his address to leaders taking part in the Ninth Summit of the Asia-Europe Meeting in Laos.
The Bulgarian President, speaking in the first panel of the forum, dedicated to economic and financial matters, outlined approaches to achieving sustainable economic growth. “Growth cannot be bought, but must be achieved with reforms that make us more competitive,” the President said, underlining that Bulgaria was an example of the success of the European model of economic and social convergence.
President Plevneliev highlighted three main pillars for achieving competitiveness, placing first financial and regulatory support for SMEs. He said that SMEs in Bulgaria provides two-thirds of the jobs in the country. Investments in smart technologies, energy efficiency, technology transfer and new industrial policies are the second major factor in competitiveness, President Plevneliev said. He said that Bulgaria is currently working on positioning itself as a regional hub for information and communication technology and in food production. The third pillar in achieving competitiveness is made up of entrepreneurship, education and infrastructure development.
In the future, only nations with long-term vision will be successful, President Plevneliev predicted. He said that a lack of strategic thinking and long term planning would lead to low efficiency and poor results. “The economic crisis has shown how economies are linked and it is now time to turn these relationships into opportunities,” the Bulgarian President urged the forum.
President Plevneliev visit to Laso to participate in the two-day Ninth Summit of the Asia-Europe Meeting continues. On November 6, the President will participate in sessions devoted to global and regional issues and social and cultural co-operation. The president will meet with the President of the Lao People's Democratic Republic Choummaly Sayasone, President of Mongolia Tsakhiagiin Elbegdorj and Prime Minister of the Kingdom of Thailand Yingluck Shinawatra.