Business | August 24, 2001, Friday // 00:00

Representatives of the Bulgarian Industrial Association /BIA/, the Bulgarian Chamber of Commerce and Industry, the Employer’s Union and the Bulgarian International Business Association supported the economic package of the Government. The new economic measures, announced by the Prime Minister Simeon Saxe-Coburg include fast and transparent privatization, a radical tax reform, a higher minimum wage, doubling of the child benefits, higher electricity and heating prices, establishing a micro credit fund, better Customs organization. The business people and financiers pointed out some of the weak sides of the existing laws. They stated that there is a high need for a stable legal basis for the new economic program. A better mechanism for contacts between businesses and the state administration should be set up. Deputy Prime Minister Vassilev asked the business organizations to support the idea of the government to launch an MBA program by 2002. It will be in compliance with the international standards and may be taught at a new privately run European College of Economics and Administration in Plovdiv.

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