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Bulgaria's Defense Industry Invests Up to BGN 6 M Annually in R&D

1 min read Source: Novinite

From our news archive: this article was published in July 2010. Figures and rules may have changed since.

The Bulgarian military-industrial complex invests between 10% and 30% of its combined profit annually in research and development activities.

According to the latest report of the Bulgarian Defense Industry Association made public during its recent annual meeting this makes between BGN 2 M and BGN 6 M.

The total turnover of the Bulgarian military plants in 2009 was a little over BGN 200 M.

The major topic discussed during the annual meeting of the Bulgarian Defense Industry Association was focused on drafting a national strategy for the development of the military industry sector in the next 15 years.

A review of the new strategy is supposed to presented in September, and will take into account input and recommendations from the association of European defense industry producers. The strategy is going to outline the relations between the private military industry companies in Bulgaira and the Bulgarian state with respect to innovations and research and development investments.

The most competitive Bulgarian defense industry products internationally are small arms and light weapons, ammunition, communication systems, surveillance devices.

Originally published by Novinite.

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