Industry 4.0
Vol. 5 (2020), Issue 1, pg(s) 41-44

BUSINESS & “INDUSTRY 4.0”

BIOECONOMICS – A STRATEGIC SECTOR IN THE CIRCULAR ECONOMY

  • 1 Business Faculty – University of Food Technology -Plovdiv, Bulgaria

Abstract

The concept of a circular economy is a model of production and consumption that minimizes waste in the environment. It brings benefits not only to nature but also to the economy and society as a whole. This is a model aimed at extending the product life cycle. When a product reaches the end of its life, the materials of which it is composed continue to be reused. This is repeated many times to minimize waste disposal. In practice, this means sharing, borrowing, reusing, repairing and recycling existing materials and products as long as possible. The bio- economy in the European Union is growing much faster than the rest of the economy, which will lead to the creation of more jobs and the continuation of the digital transformation of the European economy. Bio-economy covers all sectors and systems that use biological resources. It is one of the largest and most important sectors of the EU and includes agriculture and forestry, fisheries, agro-food, biomass and bio-based products. Its annual turnover is about 2 trillion euros, and it employs about 18 million people. Bio-economy is also a key area for stimulating growth in rural and coastal areas. The new bio-economy strategy fits in with the Commission’s efforts to further boost jobs, growth and investment. It aims to improve and expand the sustainable use of renewable sources to overcome global challenges such as climate change and sustainable development. The purpose of the study is to analyze the situation in Bulgaria for the development of the bio- sector in terms of production capacity, potential for growth of the bio-production sector, to study the conditions, difficulties and prospects for the development of exports of bio- products. The analysis will serve to evaluate the opportunities for Bulgarian bioeconomy development, the innovation encouraging measures in this sector and the diversification of this sector. The results of the Bioeconomy research distinguish strategic areas: sustainable consumption and production through responsible consumers and producers; knowledge society through information development and training; government to help adapting to new business realities; climate change and energy; sustainable transport and mobility; conservation and sustainable management of biodiversity and natural resources; public health and risk prevention with an emphasis on environmental quality; demography and migration and social inclusion; challenges in the field of sustainable development; global poverty reduction.

Keywords

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