Bulgarian economy minister reveals eight new foreign investments.

By bne IntelliNews August 30, 2012
Economy minister Delyan Dobrev announced that eight first class investment projects in the country are expected to start by the end of 2012, while introducing the changes to the law on investments in an interview with national TV BNT. Three of the projects are related to the automotive industry and should have higher value added than existing projects, minister Dobrev added giving air conditioning and airbags as two examples. The changes to the law on stimulating investments envision benefits to large companies with investment projects over EUR 10mn. Such employers will be exempt from paying social security contributions on newly created jobs if they can guarantee long term employment of at least 5 years. According to the ministrys calculations this measure will both attract investments and have a net positive effect on the budget. FDI flows in Bulgaria marked a significant improvement, rising to EUR 221.4mn in H1, up from EUR 63.2mn a year earlier, on the back of strong increase in equity capital flows (29% of which are invested in real estate properties.
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