US Ambassador: Rule of Law to Bring Investors to Bulgaria

The American Ambassador to Sofia, James Warlick, says reducing red tape and reaffirming the rule of law in Bulgaria would increase the flow of US investments. Photo by BGNES

The US is going to be investor number one in Bulgaria in 2011 as it was in 2010, American Ambassador to Sofia, James Warlick, said Saturday before journalists.

The diplomat talked about his recently concluded tour of the US with Bulgarian Ambassador to Washington, Elena Poptodorova, saying he was able to convince a number of American companies to invest in Bulgaria.

Warlick explained the increased interest with the recovery of US economy, especially of the small and medium business, pointing out some companies seek new export markets while others hope to find new partners in their production.

The Ambassador gave as an example for the positive results of his trip a new partnership between an American optical company and a Bulgarian one, based in Panagyurishte.

Warlick advised the cabinet to reduce bureaucracy and red tape in order to increase the flow of American investments, but stressed the most important factor would be to solidify the rule of law so that US companies in Bulgaria feel their money is protected.

On the topic of the upcoming local and presidential elections, the diplomat voiced certainty they would be honest and open and Bulgarians will pick the best person for President to lead them in the right direction.

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