Borislav Stefanov: Investments may exceed €2 bn in 2013

“The total amount of investments in Bulgaria is likely to reach €2-2.5 bn in 2013,” Borislav Stefanov, Executive Director of InvestBulgaria Agency, predicted on BNR. According to him, it is difficult to make a more accurate forecast because foreign direct investments (FDI) depend not only on the state where these are made, but also on the state of their origin.

Stefanov reminded that FDI in Bulgaria amounted to around €1 bn in 2010 and around €1.7 bn in 2011. According to inconclusive data for 2012, these are expected at around €2 bn. “The option to compensate some of the labour costs, stipulated in the Investment Act, is a real incentive for Class A investors,” added Stefanov.

The recent amendments to the Investment Encouragement Act stipulate that the companies certified under it may get back the social insurance contributions for the newly hired employees for a period of two years on the condition that the new jobs are maintained for at least three years for small- and medium-sized enterprises and for at least five years for the big ones.

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