COMPETITIVE ADVANTAGES OF ADOPTING BIOTECHNOLOGICAL INNOVATIONS

Abstract

The underexploited potential of the national economy results in a low standard of living and a poor investment environment. Due to the current condition of economic processes, Bulgaria ranks at the bottom in terms of its GDP compared to other EU member-states and is one of the countries with the fastest declining population in the world. Low competitiveness and innovativeness of Bulgarian enterprises underlie the lack of any serious economic progress. This finding is true even for the economic spheres which contemporary biotechnological innovations are based on and in which our country has real advantages in terms of its natural resources and climate. The objective of this research paper is to analyse the main economic aspects of Life sciences and to present some major European accomplishments and partnerships in the pursuit of competitive advantages by enterprises operating in the sphere of biotechnologies.