ECONOMY

Greece touts investment incentives in Bulgaria

Greece’s recently passed development law should end the one-way flow of investment capital and entice Bulgarian companies to invest in Greece, the Greek Embassy’s economic and commercial affairs counselor in Sofia, Dimitris Zomas, told a business conference. «The direct incentive for this is the new law voted on in Greece which is very attractive for foreign capital,» Zomas said. About 80 Greek and Bulgarian companies are participating in the conference, which is sponsored by the Athens Chamber of Commerce and Industry (EBEA) and the Bulgarian Chamber of Commerce and Economy, with the support of the Greek Embassy. According to Bulgarian data, Greek investment in the country amounts to $1 billion but Zomas said the actual figure is closer to $2 billion. Greece’s trade representation is planning an information campaign, targeting the Bulgarian investment community with the incentives of the new law. «This option provided by the investment incentives law will be presented in the near future to all Bulgarian entrepreneurs who are interested, so that they can examine possible investment in Greece and mainly in northern Greece, the Greek diplomat said. For his part, EBEA Chairman Panagis Stavridis noted that the construction projects for upgrading Bulgaria’s infrastructure could become an important new realm of cooperation for Greek and Bulgarian enterprises. «A great many Greek companies, which have plenty of know-how and experience, want to come to Bulgaria, either in cooperation with Bulgarian construction firms or to directly undertake projects,» Stavridis stressed, adding that «their size and equipment is sufficient to respond to all project forms, either regarding energy or harbors or anything else, we are able to respond to everything with the optimum construction quality as well as the most competitive prices globally,» the Greek entrepreneur proclaimed.