The Government and bilateral chambers of commerce join forces to promote Bulgaria as an investment destination
“We have all the necessary mechanisms in place to support investment, job creation and the companies you represent, ensuring that Bulgaria becomes an even more competitive place to do business.” This was stated by Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Poulev during a working meeting with representatives of the bilateral chambers of commerce in Bulgaria.
During the meeting, he presented the Government’s key policies aimed at improving the investment climate, attracting strategic investors and building a more effective partnership between the state and the business community.
Deputy Prime Minister Poulev stressed that the Government is pursuing a consistent policy of open dialogue with businesses. “Our open-door policy is the clearest demonstration of this commitment. We want to hold regular meetings so that we can keep our finger on the pulse of industry and the business community,” Poulev said. He added that the relevant institutions have the necessary instruments to support investors and foster the development of the Bulgarian economy.
Addressing representatives of the bilateral chambers of commerce, Poulev outlined the Government’s reform of investment policy and the work of the newly established Investment Promotion Coordination Council, which will ensure coordination among public institutions in the implementation of strategic investment projects. The Council brings together all ministries, agencies and public bodies involved in the investment process.
“We completed the reform of our investment policy in an exceptionally short period by establishing the Central Coordination Unit under the Council of Ministers. This is a new mechanism built on European and international best practice. For every strategic manufacturing and investment project requiring permits and approvals from multiple ministries, we have now created a mechanism to ensure better coordination and cooperation among the relevant institutions,” he said.
According to him, the objective is to provide strategic investors with faster and more efficient administrative services. “All strategic investors wishing to invest in Bulgaria, particularly in high value-added manufacturing, will benefit from expedited and priority administrative procedures,” Poulev said.
The Deputy Prime Minister emphasised that the reform is intended not only to facilitate individual projects but also to improve Bulgaria’s investment environment as a whole. “Our objective is not merely to support individual investment projects, but to improve Bulgaria’s investment regulatory framework as a whole,” he noted.
Among the key issues discussed at the inaugural meeting of the Investment Promotion Coordination Council, Poulev highlighted reducing administrative burdens, cutting unnecessary regulation and preparing an entirely new Public-Private Partnerships Act, which will create a modern and predictable framework for the implementation of major investment projects.
“At present, Bulgaria effectively has no functioning framework for public-private partnerships. We are now drafting an entirely new law based on European best practice,” he said. According to Poulev, the draft legislation is being prepared following an in-depth review of successful European models and in partnership with the European Bank for Reconstruction and Development (EBRD).
The Deputy Prime Minister called on the bilateral chambers of commerce to become active partners in attracting new investors and further improving Bulgaria’s investment climate. He stressed that sustained dialogue between the Government and the business community is essential to strengthening the country’s competitiveness. “We have begun meeting with all stakeholders to hear your views. We want to understand which challenges – both those affecting the economy as a whole and those specific to individual sectors – should be addressed by the Government. We will maintain this dialogue, and our door will always remain open,” Poulev said.
Representatives of the bilateral chambers of commerce expressed their readiness to work closely with the Government to improve the investment climate, promote Bulgaria as an investment destination and attract more strategic investments. Participants agreed that regular dialogue between the Government and the international business community should serve as the foundation for a more competitive Bulgarian economy.
The meeting was also attended by Deputy Ministers of Economy, Investment and Industry Mihaela Karadimova and Krasimir Yakimov.