site.btaPM Says High Levels of Corruption and Poor Infrastructure in Bulgaria Repel Foreign Investors

January 7 (BTA) - The high levels of corruption and the poor infrastructure in Bulgaria are two of the main reasons for the low levels of foreign investments in Bulgaria, according to Prime Minister Kiril Petkov. He was speaking Friday during Question Time in Parliament where he was asked about the government's policy to attract foreign investment. "Our policy of zero tolerance against corruption will provide visible results", he said.

"Bulgaria has the lowest taxes in the EU, the country is part of the world's largest market, has strong fiscal position and low indebtedness. We should be attracting huge foreign investments and we are not right now. The investment levels are very low, too low for the last decade", Petkov said.

In his words, in 2020, Bulgaria did not receive a single letter proposing direct investments but that situation has now changed. "We received over 600 letters with investment proposals within some 50 days. We will build the right infrastructure and end corruption. Then we will use the benefit of low taxes to persuade foreign companies that Bulgaria has a good investment climate", Petkov added.

"Wait and watch. I do believe that we will surprise you and you will see more than you expect," the Prime Minister said pointing out that it has been only 20 days since his government took office.