Encouraging Local Investments - Priority of Bulgaria’s Capital Sofia

Encouraging Local Investments - Priority of Bulgaria’s Capital Sofia

Sofia Municipality will encourage investments and help the small and medium-sized business through the launching of a special agency. The agency will be established by mid 2016 and its purpose will be to provide detailed information to companies which intend to invest in Sofia. The agency will provide various consulting services and issue certificates of local significance type B.
According to representatives of the local business, Sofia has been in need of such institution for a long time. In the latest report of Bloomberg foundation, Sofia was described as a European city which in a period of 10 years (from 2003 until 2013) registered highest increase of the gross domestic product per capita. Besides, according to data provided by the city municipality, Sofia is the Bulgarian city with lowest unemployment rates - only 3% registered in January 2015, whereas the average unemployment rate in Bulgaria amounted to 11.1%.
We are not planning to launch a new administrative structure. We are to use the existing structure established some 20 years ago, i.e. the Privatization and Post-Privatization Control Agency, says Valya Chilova who is to head the new specialized department.

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