The Bulgarian State Plans to Support the Largest Investors with Cash

Research and development expenditure will be deducted two or three times from the company's financial performance. This is a draft law prepared by the Ministry of Economy and Investment Agency, Stamen Yanev, the head of the agency, says in a 24chasa interview.

In his words, the Minister of Economy Emil Karanikolov has managed to convince the Finance Ministry of the benefits of such a change and the concept has been accepted.

"In R & D, spending is mainly on the salaries of highly qualified people, so we can attract

more intellectual product.

The priority for Bulgaria is the bigger export, so we could attract more intellectual product, "says Yanev.

He says that he is working to provide investors with more state aid, following the example of the Central and Eastern European countries. "We have state support for payment of social security contributions, education, public infrastructure, and more investors are expecting additional financial incentives in the form of cash grants to buy some of their assets," said the head of the investment agency.

In his words, such incentives will be given to investors of over 1 billion levs or euros - a decision has not yet been taken and the state will finance them in cash. "Size is determined by a specific formula, there is a procedure for a specific investment, and the European Commission is informed, it is doing research, analyzing and approving. If this is not done, it can hardly be expected that large investments of over 1 billion will pay attention to Bulgaria, " Yanev explains the model.

In his words, these measures will be implemented in

the automotive industry, energy, infrastructure.

"We are working to expand the scope of the Investment...