Investors Find Unpredictability in Bulgaria More Frustrating than Corruption – AmChamBusiness | September 30, 2014, Tuesday // 10:29| views
Valentin Georgiev, Executive Director of the American Chamber of Commerce in Bulgaria (AmCham Bulgaria), photo by Darik radio
It is no longer corruption but stability which has become a major concern for investors in Bulgaria, according to Valentin Georgiev, Executive Director of the American Chamber of Commerce in Bulgaria (AmCham Bulgaria).
In a Tuesday interview for the Bulgarian National Television, he claimed that the first question of companies studying the opportunities for investments in Bulgaria had been related to the level of corruption several years ago, but the focus had shifted onto stability and the availability of highly-qualified employees.
Georgiev, as cited by Capital Daily, argued that Bulgaria’s next government would face great challenges, the biggest one being the lack of trust in institutions.
He suggested that the regulatory environment in Bulgaria was difficult and the unpredictability of the past few years was particularly worrying.
“This is an indicator that the business environment is becoming unattractive,” Georgiev added.
He stressed that it was impossible to find justification for certain pieces of hastily drafted legislation, adding that it appeared that changes were being adopted on the request of certain people or economic circles.
The Executive Director of AmCham Bulgaria insisted that the government had to guarantee a stable and predictable environment in which decisions were taken on the basis of objective analyses and evaluations.