Bulgaria's Invest Body Mulls Industrial Zones Promotion

www.novinite.com, 2006-06-26

     The establishment of more industrial zones and reduction of the corporate tax are placed as top priorities for the new management of the state-run investment body.
     Stoyan Stalev, who recently stepped into office as chairman of the Invest Bulgarian Agency, told journalists Tuesday he would actively work for improvements in the investment incentives legislation.
     He believed investors would be additionally lured to come to Bulgaria, should corporate tax is reduced from the current 15% to 12%. Stalev also suggested that in case of profit reinvestment, the tax rate should be zeroed.
     In 2005 foreign investments in Bulgaria cumulated USD 2.3 B, investment's chief reminded and whished a more proportionate approach for its distribution into the national economy.
     "A large percentage of foreign investment flows into trade, services, and finances on the account of lower portion allotted for industrial purposes,"Stoyan Stalev noted.
     He called to the government to consider a strategy to create incentives for Bulgarian students studying abroad to come to their homeland.

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