The government in 2013 will establish a fund for innovations and technological development.

"With this fund, huge breakthrough is being made to support companies and innovations. It will provide direct finances for business plans. Therefore, the government urges companies and interested individuals, students, scientists to start preparing projects and plans for business development. The fund will offer many options and instruments benefiting the economic development," Gjorgiev said.

The fund's goal, he added, is to stimulate and finance innovations and to support the business sector in two stages.

In the first stage in 2013 the fund will be fully financed by the state. In the second stage as of early 2014, finances from external sources will be also provided, namely the IPA program for industrial policy and the World Bank, which is launching a project on skill improvement.