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Deputy PM: Bulgaria Remains Top Investment Destination

Business | June 13, 2014, Friday // 13:53| Views: 1259 | Comments: 0
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Bulgaria: Deputy PM: Bulgaria Remains Top Investment Destination Bulgaria's Deputy Prime Minister Daniela Bobeva, photo by BGNES

Bulgaria remains one of the best investment destinations boasting a reasonable fiscal policy and low tax rates, according to Deputy Prime Minister Daniela Bobeva.

Speaking Friday in Parliament, she said that the socialist-led government had implemented a number of measures for attracting investors, including the reduction of the administrative burden for the business sector and the fast-track recovery of VAT and liabilities to companies.

"As part of the efforts to attract investments, the work of the InvestBulgaria Agency changed. It is no longer a structure which merely issues certificates to investment projects under administrative procedures but it works with the investors," Bobeva declared.

She explained that separate working groups were being created to support the implementation of big projects.

Bobeva, as cited by investor.bg, announced that seven projects worth a total of BGN 369 M had been certified in the period July 2012 – March 2013.

She also made clear that projects worth BGN 586 M had been awarded certificates and applied for certification in the period July 2013 – March 2014, without specifying their number.

She was asked by GERB MP Lilyana Pavlova about the steps the government was taking to prevent the collapse in investments in Bulgaria.

Pavlova, Regional Development Minister during the term in office of the GERB government, cited statistics of the Bulgarian National Bank indicating a decrease in investments by 50% on an annual basis in the first months of the year.

"The reason for this is political and economic instability during the past year in office of the government," she claimed.

Bobeva, however, argued that the business climate indicator had kept growing in the first five months of the year and its value had already reached the level of 2009, adding that this indicated an improvement in investment activity.

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Tags: Lilyana Pavlova, Citizens for European Development of Bulgaria, GERB, foreign investments, Deputy Prime Minister, Daniela Bobeva, business climate
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