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GBCCI Managing Director Mitko Vasilev, photo by bnr.bg
Over 1/3 of the companies participating in the German-Bulgarian Industrial Trade Chamber (GBCCI) would not invest again in Bulgaria, according to a poll conducted among members of the chamber.
In 2012, 35% of the companies said that they would not invest again in Bulgaria, compared to 21.5% in 2011, said Mitko Vasilev, Managing Director of the GBCCI, at a press conference on Tuesday, as cited by the Bulgarian Telegraph Agency (BTA).
A mere 12% of respondents evaluated the current economic situation in the country as positive, Vasilev noted.
He cited data of the Bulgarian National Bank (BNB) showing that German investments in Bulgaria dropped by a net EUR 54 M in 2011.
He told journalists that cumulative German investments in Bulgaria in the period 2000-2011 amounted to EUR 1.8 B.
The business sector mostly complained about the insufficiently effective administration, the lack of legal certainty and transparency in public procurement, corruption and poor infrastructure, although the efforts of the government were taken into consideration.
Around 40% of the companies said that they would hire more workers, while 15% said they would resort to job cuts, according to the poll.
The results of the survey will be presented to the government.
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