Minister Bogdanov: We work for quality investment projects with high added value

VMZ's deductions to the state will not affect its investment program, he pointed out

Industry / Bulgaria
3E news
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Source: Ministry of Economy and Industry

We will work for quality investment projects with high added value and easing the administrative burden for businesses. This was stated by the Minister of Economy and Industry Bogdan Bogdanov during a hearing at a meeting of the Committee on Economic Policy and Innovation in the National Assembly. "In order to have a large structure-determining investment project, there is a need for predictability and the rule of law," Bogdanov pointed out.

He emphasized that one of the main tasks is to work to attract large investors in our country. Minister Bogdanov pointed out that since the beginning of the year there has been a positive trend and foreign direct investments (FDI) in Bulgaria for the first 4 months exceeded 1.6 billion euros, which is an increase of over 60% compared to the same period last year.

In his words, the Investment Promotion Law needs to be updated in order to change the way Bulgaria encourages investors. It is important to change the incentive measures and make them more adequate, to have prepared grounds", giving the example of the new Dobroslavtsi industrial zone.

The Minister of Economy and Industry assured the MPs that the state has taken all the necessary measures to increase the security of production and people in the weapons factories. "At the moment, all safety measures at the bases have been taken, and there are additional levels of security at the critical sites," he announced.

In response to a question, the Minister of Economy and Industry announced that work is being done to ensure that the transfer of one hundred percent of the profit of VMZ - Sopot for 2022 in the form of a dividend to the budget does not affect the company's investment program. "Everything will be done so that VMZ can continue its program and from the point of view of expansion of production capacities, where they are foreseen to happen," he stated.

Bogdanov announced that after an inspection commissioned by him of dam repairs, it was established that all funds from the DCC had been spent. "So far, it has been established that this amount has transferred half a billion leva, and there is not a single project that has been completed and accepted by the state acceptance committee. With an expert commission from the State Consolidation Company, 10 reservoirs have been accepted, but they are not legalized," he announced.

According to him, the Ministry of Economy and Industry has had no information or feedback for two years about the status of the inspections of the dams - after all the documents have been handed over and the competent authorities have been referred already in 2021.

He pointed out that from now on, an interdepartmental group is being formed with representatives of the Ministry of Regional Development and Public Works, DAMTN and the Ministry of Economy and Industry, which will check the activities on the construction of dams, which is stated in documents, but it is not clear if it is actually done. "Part of the money was also spent on projects other than repairing dams," he gave the example of the pipeline built in Pernik, as well as the purchase of specialized drones. "An analysis will be made on how to minimize the damage," he was categorical.

Regarding the construction of the so-called government complex on the territory of "Sofia Tech Park" Bogdanov stated that DCK has allocated funds in advance, and the company continues to suffer damages. "We will do our best to return the money to the state," he stressed.



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