The owner of Facebook - Meta Platforms - considers Bulgaria as a location to create an important development (R&D) center for augmented reality. This became clear during a conversation between high-level representatives of the American technology company and the Bulgarian Minister of Innovation and Growth Milena Stoycheva Milena Stoycheva has educational degrees and specializations from Bulgarian and international. She revealed this herself during a hearing in the parliament, writes economic.bg.

"Bulgaria is a place that they (note - Meta) are considering for the development of an engineering, research and development center for augmented reality, which can be a global leader in the development of solutions," said Stoycheva.

She did not elaborate on those conversations, but indicated that they took place during her working visit to the United States. Finance Minister Asen Vassilev is also currently on such a visit, and his department indicated that he will specifically meet with heads of several large American companies, including Meta.

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We remind you that in 2019 Facebook opened a large content review center in Sofia in partnership with the outsourcing company Telus International. The idea was for the center to handle content control and moderation.

The metaverse

Facebook's parent company has invested heavily in its virtual reality unit over the past year. An impressive 20% or so of all the tech giant's spending in 2023 is directed specifically at its Reality Labs division, which is primarily concerned with developments in the metaverse.

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Still, the company has reported improvements in its social media business, and that has made investors more tolerant of Meta's unrelenting spending as it pours billions of dollars into the meta universe and builds out its AI infrastructure.

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research and development center for augmented reality