site.btaPresidents of Austria, Bulgaria Open Business Forum in Sofia

Presidents of Austria, Bulgaria
Open Business Forum
in Sofia


Sofia, October 31 (BTA) - Bulgarian President Rosen Plevneliev
Friday said that every lev and every euro invested in this
country by Austria is of particular importance to Bulgaria and
will be treated with special attention and will be fully
supported by the State. Plevneliev and his Austrian counterpart
Heinz Fischer, who is on a two-day official visit here on
Thursday and Friday, opened a Bulgaria-Austria Business Forum in
Sofia.

"For us, Austria is a strategically important partner - a State
which has always understood and supported us. The Austrian
investors are also a more different [kind of] investor. We have
a huge base of Austrian companies - over 400 - which work in
Bulgaria, and distribution of the investments in all sectors,"
Plevneliev said.

He acquainted the business representatives at the forum with
investments and projects being elaborated and planned in
Bulgaria. Plevneliev said that despite the political instability
in the last years, the Bulgarian economy remains stable and
continues to grow, but it could grow much more if there is
political and institutional stability.

The Bulgarian head of State assured the participants in the
forum that the tax legislation will remain maximally
advantageous.

The Austrian side confirmed its intentions to invest in natural
gas extraction from the Khan Asparoukh block in Bulgaria's
continental shelf, where the next stage of the project is
expected to begin, Plevneliev said. "The total investment
amounts to around one billion and a half euro, and we are very
optimistic that in the next three to four years Bulgaria can
find its own natural gas deposits," he noted.

Christoph Matznetter, Vice-President of the Austrian Federal
Economic Chamber, said that the Austrian investments in Bulgaria
are long-term ones: these are companies which started working
in this country many years ago, have not been scared by the
crisis and continue to work in Bulgaria. What is slightly
lacking is transparency in decision-making and stability in
legislation, he added. Matznetter expressed the hope that
Bulgaria will soon have a new government.

Also on Friday, Austrian President Fischer talked with caretaker
Prime Minister Georgi Bliznashki, the Government Information
Service said.

Discussing Bulgarian-Austrian cooperation, the two concurred
that it was excellent at all levels. Austria is invariably among
Bulgaria's leading trade and business partners. Annual two-way
trade has exceeded 1 billion euro in the past several years, and
since 1996 Austrian investments in Bulgaria have added up to
nearly 6 billion euro.

Also, an intergovernmental cooperation agreement in culture,
education, science and youth is being drafted.

During the meeting Bliznashki voiced a hope that Bulgaria will
have a new government as a result of all efforts. PK/PP


/СН/