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.

Related Articles

EC urges Bulgaria to comply with EU rules on free movement of capital.

The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more

Govt seeks delay of antitrust rules violation procedure against Bulgaria.

Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more

Bulgarians hold EUR 100mn in deposits in Cyprus.

Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss