Bulgarian Minister Insists on Privileges for Foreign Investors

Regional Development Minister Plevneliev has vowed support for privileges for foreign investors. Photo by BGNES

Bulgaria needs to be proactive in offering foreign investors preferential conditions, says Regional Development Minister Rosen Plevneliev.

Plevneliev believes the privileges for foreign investors are a must; he has pointed to the Czech Republic as an example since foreign investors there are sold land at preferential prices and are provided with the needed infrastructure.

The Minister confirmed the recent announcements of Economy Minister Traicho Traikov that the government was working on amendments of the Investments Encouragement Act, which are expected to help generate a better business climate.

During his visit to the city of Varna for the opening of the largest shopping center in the city and the region, Grand Mall Varna, Plevneliev commented that Bulgaria must identify its economic sectors that will general economic growth.

He pointed out that the country should go from focusing on consumption establishments such as the shopping malls to focusing on production.

“There are indications of such an economic transformation in the country,” the Regional Development Minister said while also revealing that the Economy Minister is working on an economic growth strategy that is to be ready before the end of 2010.

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