At an informal meeting of the European Union's Competitiveness Council in Dublin, Bulgarian Deputy Minister of Economy, Investment and Industry Krasimir Yakimov said Bulgaria believes a comprehensive assessment of the impact of the EU Emissions Trading System (ETS) on energy-intensive industries is necessary. He also stressed the need to encourage investment in the development and modernization of electricity grids, energy storage facilities, and the digitalization of infrastructure, the Economy Ministry said on Friday. Yakimov added that Bulgaria supports designating electricity grid infrastructure as infrastructure of primary economic importance, arguing that such a move would create conditions for the accelerated implementation of strategic investments in the sector.
The informal meeting brought together representatives of EU member states to exchange views and best practices on key issues shaping the future of the European economy.
During the first working session, titled Mobilizing Private Financing for Scaling Small and Medium-Sized Enterprises, Yakimov presented Bulgaria's position on improving access to financing for businesses with high growth potential.
He said Bulgaria welcomes EU initiatives aimed at strengthening savings and investment, while emphasizing the need to facilitate access to financing for high-growth European companies. He also called for changes to EU regulations that currently limit institutional investors' ability to invest in start-ups and fast-growing businesses.
Yakimov further noted that Bulgaria considers it essential to reduce regulatory fragmentation across the EU, strengthen incentives for institutional investors to allocate capital to high-potential risk assets, and improve the integration of European capital markets to support the growth of small and medium-sized enterprises.
He added that member states could also direct public funding toward connecting well-established entrepreneurial ecosystems with emerging innovation hubs across the EU to foster synergies and regional economic development. According to Yakimov, support for business incubators affiliated with leading technical and economic universities, along with efforts to improve financial literacy and investment culture, are among the key prerequisites for developing the EU's capital markets and entrepreneurial ecosystem.
The second working session focused on Driving Industrial Decarbonization: Energy Systems, Grids and Competitiveness in the EU. During the discussion, Yakimov said industrial decarbonization must go hand in hand with maintaining and strengthening the competitiveness of European industry.
He stressed that Bulgaria views industrial decarbonization not only as a tool for achieving climate objectives but also as a key driver of Europe's industrial competitiveness. Yakimov highlighted the need for a predictable and balanced framework for industrial electrification that supports both the competitiveness of energy-intensive industries and investment in decarbonization, energy efficiency, and flexible energy consumption.
The informal Competitiveness Council meeting provided member states with an opportunity to exchange views on strengthening the competitiveness of the European economy, promoting investment, and supporting industrial development across the European Union.
(BTA, July 10, 2026)
