THE ECONOMIST GROUP: MOST FOREIGN INVESTORS OPTIMISTIC ABOUT BULGARIA

Politics | March 6, 2002, Wednesday // 00:00

Seventy-five percent of the foreign investors who participated in the roundtable with the Bulgarian Government are optimistic about Bulgaria’s future, Nenad Pasek, Director of The Economist Group in Vienna, said at a news conference on behalf of the organizers of the event. The Government should work hard to overcome bureaucracy and corruption, he pointed out, though.Hewlett Packard Vice President Peter Testen announced that HP intended to increase investment in Bulgaria and to export to the region via Bulgaria. He recommended that some provisions of the Public Procurement Act are made more precise and stimuli for high technologies investors considered. Transport Minister Plamen Petrov said the Government is ready to provide funds for high technologies and telecommunications investment projects. Overgaz representative Svetoslav Ivanov said that USD 1,700 M need to be invested in gas facilities for consumers. According to him, two Bulgarian banks are ready to extend USD 20 M in the form of a consumer credit for that purpose. Ivanov recommended to Bulgaria to start producing gas appliances.
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