UK Envoy: Investors Need Revamp of Bulgarian Judiciary

The Ambassador of Great Britain to Bulgaria, H.E. Jonathan Allen, believes that the country's justice system is one of the biggest problems for potential foreign investors.

According to radio Focus Varna, the diplomat has noted that the legal proceedings are not always speedy enough and the Bulgarian Courts issue different rules in one same case.

Allen has stressed the delays mean time, worries, and money, which makes investors nervous.

Regarding the new government of Prime Minister, Plamen Oresharski, elected on the mandate of the left-wing Bulgarian Socialist Party, BSP, the Ambassador has stated his country was ready to cooperate with it and be a partner.

He explained he had met with Oresharski and with representatives of the liberal ethnic Turkish Movement for Rights and Freedoms, DPS, during the election campaign and had told them he had the same goals as the future Cabinet of Bulgaria – prosperity, intense trade, British tourists satisfied and happy from their trips to the country, and effective actions against corruption and organized crime.

Despite the recommendations, the diplomat has been firm that British investors saw business climate in Bulgaria as favorable and most planned to stay and expend their endeavors.

On the announcement of Petroceltic International that it might give up on natural gas explorations on the Bulgarian Black Sea coast, as it did not manage to obtain enough volume to justify commercial production, Allen confirmed the company will analyze the obtained data and will then decide if it would use the opportunity to extend the concession by two years.

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