SOFIA, Feb. 1 (Xinhua) -- Bulgaria mulled measures to attract more foreign investors such as providing state incentives and speeding up the administrative procedures, officials said here on Thursday.
Stamen Yanev, Executive Director of the government's InvestBulgaria Agency, said that currently his agency provided investors with incentives such as accelerated administrative procedures and the possibility of buying state and municipal land without a public tender, "but they are not enough."
Other things should be added like integration with recruitment and real estate companies, so when investors come their investment plans will run smoothly, Yanev said at the fifth annual conference on industrial construction and investments.
The state should have more innovative approach to attract investors, including more flexible system of providing state incentives, Yanev said.
The country's economy ministry and his agency would soon propose a relevant set of measures, he said.
Antoaneta Bares, executive director of the National Company Industrial Zones (NCIZ), echoed that indeed, the administrative burden in Bulgaria is a serious problem for investors.
"Sometimes, issuing a building permit may take a year," Bares said.
In order to facilitate investors, NCIZ together with business representatives seriously discussed the creation of a law on industrial zones, Bares said.
According to her, the law would describe the industrial zones in details and the benefits of investing in industrial zones.
