THE BULGARIAN INDUSTRY: THE STATE, DEVELOPMENT AND PROSPECTS OF INDUSTRIAL POLICY

Abstract

Bulgarian industry has the potential to become a crisis balancer as it reduces the negative impact of a financial crisis and drives the contemporary economic growth. In addition, not only the Bulgarian but European and world industries are developing at a rate unknown at this time. In just one generation, we have witnessed two major industrial revolutions (Industry 3.0 and Industry 4.0, respectively) and we are on the birth-stage of the next one (Industry 5.0). The success of an industrial enterprise, the success of the entire industry requires flexibility, adaptability and, above all, institutional support. So, the paper is addressed to research the following questions: 1. How the global industry is developing, 2. Where is the Bulgarian industry located and what are the opportunities for the development of Industry 4.0 via Internet 4.0, 3. What should be the next step in development of the Bulgarian industry.