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Low Salaries And Taxes Attract Investors In Bulgaria

Bulgaria is the cheapest place for investment within the European Union.Such an opinion was expressed by the Economy Minister Petar Dimitrov during the Bulgarian business and investment forum, BNR announced.He added that the expenditures for doing business in the country are 46% of the average European level.The factors which make Bulgaria attractive for investment in conditions of world economic crisis, are low salaries and taxes, the Minister commented.Dimitrov added that according to forecast data direct foreign investment for 2008 in Bulgaria was 6 billion Euro. According to him, there is an increase of investment in the processing industry for the last two years from 3,8% to 11,9%.Additional stabilizing conditions, which turn Bulgaria in an attractive place for investment, are the currency board and the fixed exchange rate of the lev to the Euro.Vice Premier Meglena Plugchieva pointed among the positive factors for attracting foreign investment, the macroeconomic stability and the strict financial discipline.An additional option are the European funds.Plugchieva pointed out that for the last 20 years 62% of the foreign investment has been realized in the period 2006-2008. This is due to the country's membership in the EU, the political stability in Bulgaria and the good legislative and tax policy.