Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

IT- engine behind economic growth

Photo: Tanya Harizanova

“If you don’t have Internet, you’re doomed to isolation”, said Petar Ivanov, Sisco Systems central Europe Managing Director. He was addressing a government-business discussion on” Information Technologies- the motor behind economic growth”, taking place in Sofia.

Discussion panelists accentuated that in the midst of an economic and financial crisis cutting down expenditures holds back the progress of economy, while investments in key economic sectors such as information and communication technologies will stimulate the development of all sectors.

“Looking at the market in six countries, I can tell you that we must be proud as a nation with what we’ve gained. According to a Oxford University study, Bulgaria’s capital Sofia is one ten best Internet cities in the world. If 70 years ago electrification was the engine behind progress, today this is the Internet and communications. This is the case in all industrial departments. If you don’t have high-speed Internet you’re practically doomed to isolation. Bulgaria is in an enviable position because it has open competition of n the telecommunications market”, Petar Ivanov told Radio Bulgaria.

IT experts consider the lack of any regulation in the Internet sector in Bulgaria ever since its emergence in Bulgaria as the main cause of having qualitative access to the Internet.

The incumbent government is presently putting together an IT development strategy Deputy Transport Minister Parvan Russinov shared at the debate. Lack of strategic planning and piecemeal action have been outstanding problems:

“We’ve seen in many advanced countries that investments in IT innovations and education have brought in manifold returns; they can ensure up to as much as a quarter of GDP growth and 50%lof production growth. That is why we’ve approached the matter very seriously and have set down our priorities. We’re presently finalizing an action plan specifying concrete activities, goals, terms that we’re going to subject to a very broad debate with people involved in the sector. The development of broadband Internet access is a key priority with us. High-speed Internet is to us the major driver of social and economic development in the following years”, said Deputy Transport Minister Parvan Russinov.

Developing Internet availability needs funds, which in our case could in one instance be in the form of a 15 million euros tranch under the EU Economic Reconstruction Plan, allocated to Bulgaria for the purposes of developing a broadband infrastructure in sparsely populated areas.

A most recent study carried out by the debate hosts has indicated that global Internet traffic will leap fivefold by 2013, with video-exchange taking over the Internet space and video-communication traffic pole-vaulting 10 times.

English version: Margarita Dikanarova

По публикацията работи: Tanya Harizanova


Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Stanislav Popdonchev

Businesses are worried the political crisis is hampering the country’s development, says BIA Vice President

“The main priorities businesses have – membership of the Eurozone and accession to the Schengen area by land – have receded to the background. They are the motors which can boost the economy, but the fact there is no regular government is an obstacle..

published on 11/12/24 10:00 AM

Bulgargaz LNG tender for January and February next year attracts record interest

Bulgargaz has reported record interest in its tender for the supply of LNG to the Alexandroupolis terminal for January and February 2025. All nineteen bidders met the criteria set by the company and have been approved to participate in the next..

published on 11/9/24 2:43 PM
Lukoil Neftochim in Burgas

FT: Russian oil company Lukoil plans to sell its Bulgarian refinery to Qatari-British consortium

The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times .  The deal is expected to be announced by the end of..

published on 11/6/24 11:55 AM