Council for Investments and Financial Policy to be set up with the cabinet

At their first joint meeting, initiated by the chairman of BAS (Bulgarian Academy of Sciences) Ivan Yuhnovski, businessmen, economists, scholars from BAS and representatives of the employers` organizations insisted on a new morality and formulation of the national priorities in the economy. Attending the meeting were Iliya Pavlov, President of `MG Corporation`, Emil Kyulev from Roseksimbank, financier Emil Hursev, Dobromir Goushterov, chief of `Orel G Holding`, the chairman of the Union of Employers Vassil Vassilev and the deputy chairmen of the Bulgarian Industrial Association (BIA) and the Bulgarian Chamber of Commerce Peter Denev and Georgi Chernev, lawyer Reni Tsanova, Stoyan Denchev, consultant for German industrialists. BAS was represented by Mitko Dimitrov, Garabed Minassyan, Stoyan Totev and Academician Yuhnovski. Nikolai Marinov represented the new authorities from NMS II. `Within weeks the government will set up Council for Investments and Financial Policy`, he promised. The new institution will accelerate the development of the economy, ensure the supply of information to the Bulgarian and foreign investors. A commercial office where businessmen will be able to find the information on privatization deals and other issues will be established along with it. `Unlike foreign policy, to date the state hasn`t clear-cut priorities in the economy`, Iliya Pavlov stressed. He insisted on new morality in business relations and normal feed-back connections with the entrepreneurs. `We have to dispel the myth that our economy is of mafia type`, said Krassen Stanchev. In the opinion of Vassil Vassilev, it is necessary to find a niche in the global market which we should head for. Emil Kyulev believes that poverty is the country`s major problem. `With these incomes, low as they are, Bulgaria will never join the EU`, he said. Dobromir Goushterov voiced his categorical stand that our economy should become more competitive on the international markets. Lawyer Reni Tsanova declared that business was not well protected by legislation. To her, criminal breach of trust and mismanagement are those articles in the Penal Code which are mentioned most frequently as detrimental for the national economy. It is sufficient for someone to be accused under one of these articles and he is immediately banned from traveling abroad. Stoyan Denchev recommended several priorities to underlie the government management program. In his view, the natural monopoly Bulgaria has in its geographic location, should be used to develop the telecommunications sector, the oil-, gas- and power supply systems. Another priority should be the development of agriculture and food processing industry. The participants in the meeting decided to establish `Economics` Club, to discuss regularly business problems. The minutes of the first meeting will be handed over to the new authorities.

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