site.bta Economy Ministry to Elaborate Strategy for Investments in Northwestern Bulgaria

Economy Ministry to Elaborate  Strategy for Investments in Northwestern Bulgaria


Montana, Northwestern Bulgaria, February 16 (BTA) - Economy
Minister Bozhidar Loukarski Monday visited Montana and met with
businessmen from the regions of Montana, Vratsa and Vidin at the
invitation of the MPs from these regions. Loukarski said that
it is the Government's priority to develop Northwestern
Bulgaria, which is Europe's poorest region, and the first step
in this direction is the Economy Minister's visit to the region.
The next step is the elaboration of a strategy for developing
the regions of Montana, Vratsa and Vidin, he noted.

The strategy should outline the priorities in Northwestern
Bulgaria's development, the specific projects that require
investments, the implementation deadlines, and the legislative
changes which have to be elaborated so as to provide assistance
to the region, Loukarski explained. He said that the Government
is considering a special quota for the resources for projects in
Northwestern Bulgaria, for example 10 per cent.

The introduction of tax concessions for investors in the region
is also an option, Loukarski said. Another good option is the
construction of free economic zones in Northwestern Bulgaria, he
said. The Economy Minister also said that his ministry will
work for clearing the road for the business in the region by
reducing the administrative obstacles.