Bulgarian Industrial Association Demands Transparency of Offset Agreements

The Bulgarian Industrial Association (BIA) has called on President Rosen Plevneliev to guarantee the openness and transparency of public procurement and related offset agreements.

Addressing Plevneliev in his capacity of Commander-in-Chief of Bulgaria's armed forces, BIA comes up with an open letter several days after of the first meeting of the Economic Forum created at the initiative of the Defense Ministry.

BIA was the only representative of Bulgarian business at the Economic Forum.

BIA's letter draws attention to the worrying trend of low return of investments in defense and security, adding that if each euro invested results in a return of EUR 6-7 on average in the EU, the rate of return in Bulgaria is much lower.

Taking into account the negative trend, as well as plans for an additional technological upgrade of the army, BIA proposes two measures to the President.

BIA suggests that Bulgaria's head of state should demand an assessment of the efficiency of spending over the past few years, adding that the check should not only include security but also technology transfer to local companies, investments in them, staff training, know-how transfer, boosting their competitiveness and export opportunities, etc.

BIA also argues that Plevneliev should guarantee the transparency and openness of public procurement and the related offset agreements, their implementation and the impact on the economy, as well as the participation of business organizations in the selection of promising destinations and sectors for compensatory investments.

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