FOREIGN INVESTMENTS AGENCY CHIEF: BUSINESS CLIMATE FAVOURABLE

Views on BG | February 22, 2002, Friday // 00:00

Foreign investments in Bulgaria can be given a positive assessment, Nikolay Marinov, Executive Director of Foreign Investments Agency said, citing Solvey and American Standard as examples of this. In his opinion the large-scale foreign projects create new jobs, introduce new type of management and business-culture. In most cases foreign investors are regular tax-payers. Commenting data, announced by Prof. Vladimir Kvint, according to which t annual investments in Bulgaria per capita for the previous 5 years totaled USD 74, Marinov said that Bulgaria was a bit slow in attracting foreign investments.

The Foreign Investments Agency was set up in 1996, while in Central-Eastern European countries these processes started right after the political changes. Nikolay Marinov expressed the opinion that preferences are an important prerequisite for attracting investments. He pointed out that the investment climate in Bulgaria is good, but conceded that the market is relatively shrunk and with low purchasing power. A special working group has been set up for improving the Foreign Investments Act. Proposals of tax preferences for big projects are being discussed. The preferences will benefit foreign as well as Bulgarian businessmen.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Views on BG » Be a reporter: Write and send your article

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria