Bulgaria, Qatar Set Up Joint Venture Investment Company

Bulgaria PM Borisov and his Qatari counterpart Sheik Hamad al-Thani (standing, l and r.) at the signing ceremony for the setting up of a joint investment company. Photo by BGNES

Bulgaria and Qatar have agreed to set up a joint company through which investments of the Arab country will be developed in Bulgaria.

Qatar's Prime Minister expressed his confidence that his country would be interested in increasing investments in Bulgarian projects.

"Today we agreed to create a company between the two countries to assess investment opportunities in Bulgaria," Sheikh Hamad al-Thani said on Monday.

Bulgaria PM Boyko Borisov, who is on an official visit to Qatar, confimred that: "Today and tomorrow, ministers will work on the state joint venture between the two parties, to very quickly prepare two or three to five projects".

His counterpart indicated the possible scale of his country’s level of investment.

"We have not discussed how much money we will invest in Bulgaria, but Qatar is ready to invest until there is mutual benefit from it. You know that, last year, the total foreign investment of Qatar was USD 30 B. We plan this year to invest that much money overseas," he stated.

The Qatari PM also announced that he expected his country would open an embassy in Bulgaria before the end of 2010.

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