Bulgaria's Govt Optimizes Investment Certification Procedures

Business | April 3, 2014, Thursday // 12:11| Views: 902 | Comments: 0
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Bulgaria: Bulgaria's Govt Optimizes Investment Certification Procedures

Bulgaria's government has introduced changes to the Investment Promotion Act implementation rules lowering priority investment projects in manufacturing certification thresholds.

Incentives will be provided to investors in the sectors of manufacturing, industrial zones and technology parks, the government press office announced, cited by Dnevnik.

The minimal certification investment required for priority investment projects in the process manufacturing will be reduced from BGN 100M to BGN 50M. The minimum investment required for high-tech activities in manufacturing in order to receive certification is BGN 30M instead of BGN 50M.

The minimum investment required for the construction of industrial zones and their expansion into industrial parks will be BGN 15M instead of BGN 50M, the same lower threshold is introduced for building technology parks which currently is BGN 30M.

Investors in industrial zones will be required to create and sustain a minimum of 15 job positions instead of the current 70.

All candidates for investment certificate will now submit a single application form, which contains all the necessary information. The aim is to simplify and speed up the project review procedure, according to the official information.

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Tags: Investment Promotion Act, certification, threshold, manufacturing, investment
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