BULGARIA EXPECTS TO ATTRACT 4BN EURO FOREIGN INVESTMENT IN 2007
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BULGARIA EXPECTS TO ATTRACT 4BN EURO FOREIGN INVESTMENT IN 2007
According to preliminary projections Bulgaria will attract four billion euro foreign direct investment in 2007.
In 2006 the country attracted the record-high level of 3.5 billion euro of foreign investment, InvestBulgaria Agency said.
A growth of 20 to 30 per cent is expected in 2007, head of the agency Stoyan Stalev told private national channel bTV.
The country’s tourism and real estate sectors attracted nearly 35 per cent of the foreign investment, Stalev said. To increase the amount in 2007 the country needs to invest more in infrastructure developments, he said.
After its recent EU entry, Bulgaria has not made use fully of its foreign investment attraction potential, Stalev said as quoted by SEE news.
Some measures could be undertaken to further improve the business climate, said Stalev. Bulgaria can import labour hand from Ukraine, Russia and Belarus in an attempt make Bulgarian emigrants living there go back home.
According to estimates 1.5 million people left the country since the start of the transition from communism.
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