„Popov & Partners” participates in the project „Promoting the advantages of investing in Bulgaria” by the Bulgarian Investment Agency

On December the 15th 2015 at a press conference in Grand Hotel Sofia the project “Promoting the advantages of investing in Bulgaria”, executed by the BIA, was presented.  The project was realized with the financial support of Operational Programme “Development of the competitiveness of the Bulgarian economy” 2007 – 2013. The activities and results accomplished within the project were presented by the directors of the Agency for the period of the project’s implementation, respectively: Boris Stefanov, Svetoslav Mladenov and Stamen Yanev – the Agency’s current director. The deputy minister of the economy Daniela Vezieva commenced the conference. For the completion of the project a total of 26 activities were carried out. „Popov & Partners” was chosen to prepare an analysis of the legal framework for realization and management of direct foreign investments in Bulgaria and a comparative legal analysis, which looks over and processes the legislation on drawing direct foreign investments in EU member.

Within the frame of the first activity the experts of the law office prepared a detailed analysis of the Bulgarian legislation which regulates direct foreign investments in the country, as well as the conditions for business development in different sphere of the economy with an emphasis on the branches, set as priorities for Bulgaria. The material isolates the strengths and weaknesses of the legal framework and the current situation, and makes recommendations and gives concrete examples on the topic of overcoming the shortcomings and developing the already existing positives.

In the process of work on the second activity the team diligently reviewed the investment legislature of several EU member states (Netherlands, Spain, Ireland, Romania, the Czech Republic), and carefully compared the normative solutions and applicable rules with these currently present in Bulgaria. As a result of the comparative analysis the experts made conclusions and recommendations for the eventual implementation in Bulgaria of the identified good practices, with regard to the experience of the countries – subject of the analysis.

As a final result, the completed material presents many recommendations for the future development of the legislature on foreign investment encouragement in different spheres of the economy.