Bulgaria Has Alarmingly Low Share of Young Entrepreneurs - President

Domestic | May 29, 2012, Tuesday // 14:18|  views

Bulgarian President Rosen Plevneliev opened Tuesday the first session of the Education and Science Council at the President's Office. Photo by BGNES

Bulgarian youths are the last to enter the labor market in Europe, the main reason being their lack of hands-on experience, according to Bulgarian President Rosen Plevneliev.

Speaking Tuesday at the opening of the first session of the Education and Science Council at the President's Office titled "The Bulgaria 2020 Vision: National Priorities in Education and Science", Plevneliev noted that young Bulgarians entered the labor market at the age of 22 on average, compared to the age of 20 in Europe.

Bulgaria's President drew attention to the fact that it was a common occurrence for 25-year-olds leaving university to lack any actual work experience in the real economy.

He went on to say that the share of young entrepreneurs aged 15-24 in Bulgaria was 3.4%, compared to Greece's 7.8% and Romania's 11.3% and way below the average in Europe.

Plevneliev further presented statistics showing that Bulgaria had a 5.7% share of self-employed aged 25-29, compared to Europe's 8.7% and Romania's 11.4%/

Bulgaria's head of state stressed the importance of "high added value industries that could blossom on the territory of our country."

He cited innovations as a key instrument to generate added value in the economy.

Using Skype and Facebook to illustrate his point, he said that "using one idea, a few youths can create a product worth the GDP of an entire country."

Plevneliev underscored the importance of the so-called "triangle of knowledge" consisting of science, the business sector and the state.

"If Bulgaria wants to develop, it must position itself on the way of ideas. In the 21st century, the most powerful instrument for production is human knowledge," he noted.

Plevneliev argued that personal realization had to become a national cause, while the state had to provide opportunities for "a new, adaptive and hi-tech middle class."

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Tags: Bulgarian President, Rosen Plevneliev, science, innovations, entrepreneurs, labor market, self-employed, youth


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