Bulgaria's 7-mo FDI up EUR 200 million to EUR 2.8 billion
25 September 2008
Bulgaria's foreign direct investments (FDI) stood at EUR 2.8 billion in the first seven months, up by EUR 200 million on the year, mainly due to the country's low taxes, currency board and the fixed exchange rate of the Bulgarian lev to the euro, said InvestBulgaria Agency CEO Stoyan Stalev in a conference presenting the 2008 World Investment Report of the UNCTAD.
In 2007, Bulgaria’s FDI amounted to EUR 5.7 billion, reporting a 30% rise in the real estate sector in a two-year period, said the report.
World Investment Report focuses on the rise of FDI by trans-national corporations (TNCs) in infrastructure projects. Titled “Trans-national corporations and the Infrastructure Challenge” the Annual report reveals that FDI may have peaked in 2007 in all parts of the world.
“Bulgaria is moved from the Southeast Europe Region into the European Union (EU) region for the first time in this report,” said Stalev, adding that the country’s improved performance is a direct result of its EU membership.
Commenting on the global financial crisis, Ivo Prokopiev, Chairman of Confederation of Employees and Industrialists in Bulgaria said that “the country must keep unchanged the rate of attracting FDI.”
International Property News
BBC Latest News