PM: Bulgaria Aims Reindustrialization by Promoting Industry Investment

Business | March 26, 2014, Wednesday // 12:02| Views: | Comments: 1
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Bulgaria: PM: Bulgaria Aims Reindustrialization by Promoting Industry Investment Bulgaria's Prime Minister Plamen Oresharski, photo by BGNES

Speaking after a meeting of the Austrian business circle, Prime Minister Plamen Oresharski referred to the country as a traditional economic partner of Bulgaria.

Oresharski, as cited by, underscored the significance of Austrian investments for Bulgaria, adding that the country was a major source of direct investments and that the companies with Austrian shareholders boasted a significant contribution to Bulgaria's GDP.

He said that it was important to Bulgaria's government to encourage existing investments and attract new investments from Austria.

During the meeting, Oresharski acquainted the Austrian business community with key policies of the government.

Bulgaria's Prime Minister explained that he had been asked a range of questions regarding taxation, fiscal stability, economic growth, tourism, healthcare, education, etc.

He emphasized the good practices of Austria in the sphere of the dual educational system and professional education.

Oresharski also drew attention to the activities of Bulgaria's government on e-government, adding that the authorities expected to curb administrative delays and other negative trends through administrative electronization.

As regards the much-trumpeted efforts of the Bulgarian Cabinet to achieve a reindustrialization, he emphasized the need to organize a process which would increase the share of industry in the country's GDP.

He claimed that this could be achieved by encouraging the private sector to invest in industry, possibly in the hi-tech industry.

"Financial stability is very important but if there is no economic growth, it is not sustainable. There has to be normal economic development and to some extent the state has to take care of it" he added.

Asked about the dispute between power distributors and Bulgaria's National Electric Company (NEK), he commented that the matter had to be resolved on the basis of legal provisions.

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Tags: Plamen Oresharski, Bulgarian Prime Minister, GDP, economic growth, foreign direct investments, National Electric Company, NEK, power distributors All Are Welcome! Join Now!
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» To the forumComments (1)
Behemoth2.0 - 26 Mar 2014 // 12:59:14

Labeling foreign investors as "tax fraudsters" and "crooks" and banning them from buying land (which is against EU law btw) is exacxtly the right way to promote foreign investment. Bravo, Mr. Oresharski, spoken like a real expert! I am sure after these remarks, the foreign investors will line up in big numbers to reindustrialize this wonderful country which has such competent politicians like you!


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