site.btaReduced Administrative Burden to Save Lv 113 Mln in 2015-2017

Reduced Administrative Burden
to Save Lv 113 Mln
in 2015-2017


Sofia, January 1 (BTA) - In a BTA interview Economy Minister
Bozhidar Loukarski said that businesses will be able to save 113
million leva after the third plan for administrative burden
reduction (2015-2017) gets the cabinet's approval.

The Economy Ministry plans to submit the plan for approval by
the end of March 2015. If all proposals are endorsed, 113
million leva may possibly be saved in administrative burden
under 16 laws.

Businesses may tap 150 million euro in EU funding under the
first procedure of the Operational Programme for Innovation and
Competitiveness set be announced in the spring of 2015. It will
be aimed at improving production capacity and boosting export
potential of small and medium sized enterprises. Overall the
programme will make available nearly 1.4 billion euro, recalled
the Minister.

Loukarski said that the collapse of Corporate Commercial Bank
affected adversely defence companies serviced by the bank.
Regardless of that the Bulgarian companies are making efforts to
overcome the negative effects. Loukarski ruled out a loss of
markets, as the companies have secured orders. In 2014, export
permits for defence products worth 900 million euro were issued,
which can be seen as a positive trend said the Minister. He
said that the efforts of the Economy Ministry will be making
efforts to secure orders for ordnance manufacturers VMZ and
Kintex and keep VMZ viable as one of the largest employers in
the region. The Minister said that a possible privatization of
these companies will be discussed after a detailed analysis.

Loukarski said that for the time being there are no plans to
restructure or privatize prohibition list companies such as the
Bulgarian Export Insurance Agency, LB Bulgaricum, the State
Consolidation Company, the Wine and Spirits Research Institute,
and the Bulgarian Rose State Laboratory as they are implementing
specific policies.

Smaller companies which don't implement specific policies will
be put up for privatization. Some companies undergoing
liquidation will be restructured or merged. Minority stakes will
continue to be traded off at public auctions on the Bulgarian
Stock Exchange.

Minister Loukarski said that Stara Zagora Airport will receive a
non-cash contribution of 200 ha of land once property of the
Defence Ministry in a bid to attract investors.

Of the idea for an investment fund for high-tech industries
through public-private partnerships, Minister Loukarski said
that an increasing number of investors are showing interest. He
said that during his US visit the world's largest investment
startup accelerator Mass Challenge had expressed an interest in
expanding its operation in Bulgaria

The Minister said that an analysis will be made of the
performance of Bulgaria's commercial offices abroad, and new
locations will be mapped out. There are plans to close
underperforming office and expand the public-private cooperation
model. PK/PP

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