site.btaParliament Amends Investment Promotion Act

Bulgaria’s Parliament Friday conclusively adopted amendments to the Investment Promotion Act, reducing by half the time for administrative servicing of investment projects of national or regional importance.

According to the revisions, when implementing investment projects of national or regional significance and investment proposals that are defined as nationally significant by a Council of Ministers’ act and are strategically important according to the Environmental Protection Act, as well as industrial parks, the central and territorial bodies of administrative authorities will cut by half the administrative servicing time limit.