Luc Vansteenkiste: Bulgaria Should Simplify Taxation System

Novinite Insider » INTERVIEW | October 15, 2003, Wednesday // 00:00
Luc Vansteenkiste: Bulgaria Should Simplify Taxation System Photo by Yuliana Nikolova (novinite.com)

Luc Vansteenkiste is President of the Federation of Enterprises in Belgium (FEB). He was one of the Belgian businessmen that took part in the Belgian-Bulgarian business forum that was organized by FEB and the Bulgarian Industrial Association (BIA). The forum was organized in the framework of the visit of His Majesty Albert II, King of the Belgians to Bulgaria. Vansteenkiste is also CEO of the Belgian company "Recticel", a leader in polyurethane and bedding with a strong European dimension based in 20 countries and employing 11,500 people in about 100 plants.

Q: What recommendations would you give for improving Bulgaria's business climate?

A: Bulgaria has already achieved macroeconomic stability, which is one of the most important things needed for improvement of the business climate. However, it should work for a rapid privatization because as far as I know there are still a large number of state-owned enterprises.

Bulgaria's government should also draw its attention to simplification of the taxation system and focus on fight in corruption and gray economy. This would attract more foreign investors to Bulgaria. I would also recommend that Bulgaria continue its work for the reforms in the judicial and administrative systems.

Q: Are there any future investment projects of Belgian companies in Bulgaria?

A: I could only say that some of the Belgian companies participating in the forum are currently studying the situation in Bulgaria. As these studies are still at an early stage I can only add that these Belgian companies are negotiating with different Bulgarian firms.

Q: What should be the cooperation between the small and medium-sized enterprises?

A: Each country should have large enterprises, as they are the spine of all functioning economies. Take for example the automobile industry, which needs the products of many companies in order to develop. A developed automobile industry could stimulate the entire economy of a country. However, there should always be a balance between the small and medium-sized enterprises, together with larger enterprises on each market.

Q: Could you describe the work of your company?

A: After coming to Bulgaria I discovered a country that I was not aware of. Now I am determined to come back here. My company "Recticel" produces spring-beds, fillings for car seats and other covering materials and isolation. We work in over 20 different countries and its annual revenues total some EUR 1.2 B and over 10,000 workers are engaged in its work.

Q: Do you plan to invest in Bulgaria?

A: In order to make a successful investment in Bulgaria we would have to start producing something that could be exported abroad. Only after that we could build up an enterprise that would work for the Bulgarian market.

*Questions of other media were used in this interview

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