In continuation of the Seventh Annual Meeting between the Government and Business, held on December 3, 2012, the Confederation of Employers and Industrialists in Bulgaria once again insists on a revision of the texts adopted by the National Assembly in the Law on the Promotion of Investments, the Law on Foreigners in the Republic of Bulgaria and the Law for Bulgarian citizenship, which enabled individuals who purchase real estate in the Republic of Bulgaria with a total value of more than BGN 400 to acquire the right of permanent residence, as well as the recently adopted extremely high quantitative criteria for investments by legal entities, which not only do not contribute to the expansion of investment promotion policies, but in practice remove all the incentives that could make our country a desirable investment destination.
These incentives, which were initially laid down in the balanced criteria introduced by the Council of Ministers and which were consulted and agreed with us, were aimed at creating employment in the country, at moving the stagnant real estate market and enabling the consolidation of new sectors in tourism. The proposed changes aimed to stimulate foreign investors in crisis conditions. The main proposal came down to the idea that foreign citizens would be granted the right to permanent residence in the country based on their investment as a measure to support and overcome the decline in investment activity in the country in the conditions of an ongoing crisis. The measure was primarily aimed at municipalities where unemployment is above the national average or funds are invested in the high technology sector, and this was directly linked to maintaining employment for a certain period.
During the Seventh Annual Meeting between the Government and Business, the Confederation of Employers and Industrialists in Bulgaria received support for maintaining the proposed criteria for importers from the Deputy. the Prime Minister and the Minister of Finance and the Minister of Economy, Energy and Tourism.
We also appeal to the President of the Republic of Bulgaria, with whom this request of ours was discussed within the forum, to use all possible legal means to give the people's representative the opportunity to rethink the policies for the promotion of investments and their regulatory implementation.
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