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Bulgaria Approves Joint Investment Venture with Qatar
Business | February 24, 2011, Thursday // 11:04
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Bulgaria PM Borisov and his Qatari counterpart Sheik Hamad al-Thani (standing, l and r.) at the signing ceremony for the setting up of a joint investment company, Doha, March 2010. Photo by BGNES
Bulgaria's Parliament has approved the setting up of a joint venture between the Bulgarian "National Company Industrial Zones" and the Qatar Investment Authority.
The future joint venture of the state entities of Bulgaria and Qatar will have a capital of at least USD 500 M, with all of the money being provided by the Qatar Investment Authority.
The funds will be invested in Bulgarian agriculture, real estate, tourism, finance, and other attractive investment opportunities.
The document approved on Wednesday also provides for the establishment of joint ventures between the governments of Bulgaria and Qatar in various economic spheres, the Bulgarian Ministry of Economy, Energy, and Tourism announced.
The agreement for the setting up of the joint venture was made in March 2010 during a visit of a Bulgarian state delegation in Doha.
Bulgaria's National Company Industrial Zones is a state-owned entity set up in 2009 to develop industrial properties around the country and to attract foreign investment. At present, one of the most important projects of the state company is the future Bulgarian-Chinese industrial zone in Bozhurishte near Sofia.
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