MINISTER DOBREV: OVER 200% INCREASE OF FDI IN BULGARIA

“Foreign direct investments (FDI) in Bulgaria registered an increase of over 200%, compared to last year,” Delian Dobrev, Minister of Economy, Energy and Tourism, said on Thursday, cited by Focus agency.

“FDI for the first seven months of 2012 amounted to €850 mln, compared to €350 mln for the same period last year. FDI in Bulgaria stirred up as a whole and were not much less than the stable investments outside the banking sector and construction, and not much less than in 2007-2008, which were strong years for FDI in the country,” added Dobrev.

“With the new amendments to the Investment Promotion Act, to be discussed at first reading on Friday, we are giving additional incentives to investors. We will reimburse the social insurance contributions paid by the employer for a period of two years to each class A and B investor, no matter whether they are a Bulgarian or foreign company, which means that investors’ social security costs will decline by 17.4%,” explained Minister Dobrev.