InvestBulgaria Agency Drafts Overall Investment Development, Promotion Strategy


Sofia, January 21 (BTA) - InvestBulgaria Agency is preparing a
comprehensive strategy for the development and promotion of
investment in Bulgaria, said new Executive Director Stamen Yanev
who took over from predecessor Svetoslav Mladenov on Wednesday.

Yanev was appointed InvestBulgaria Agency Executive Director by
an order of Economy Minister Bozhidar Loukarski.

The strategy will be drafted together with representatives of
non-governmental organizations, the business and the state and
will reflect aspects of the government's governance programme.
Its aim will be to establish Bulgaria as a sustainable
investment destination.

Deputy Economy Minister Daniela Vezieva said that the change at
the helm of the agency was not political and that the previous
leadership will stay on.

With regard to investment projects that are pending
certification, the Agency underscored a need for passing of
necessary technical revisions to the Investment Promotion Act
which will bring in line the Bulgarian and European legislation.

On July 1 2014, the Commission Regulation 800 was replaced by
Regulation 651 which governs provision of state aid and which
should be implemented by the Bulgarian legislation. Due to the
lack of a working legislature during the tenure of the caretaker
government, there has been some delay,

While outlining his priorities, Yanev said that he would work to
establish Bulgaria as a familiar and preferred destination for
investors, predominantly in the field of the high value added
economy, and priority industries such as the food and the light
industry.