Minister Dragomir Stoynev: It is time for new dynamics in the economic relations between Bulgaria and the United States

The political relations between Bulgaria and the United States are on extremely high level. I think it is time to transfer the positive dynamics in the field of economics, where there are some delays, declared Minister of Economy and Energy Dragomir Stoynev during his meeting with representatives of 15 corporations that are members of the Business Council for International Understanding (BCIU) - one of the most respected business organizations in the United States. The meeting was attended by representatives of the pharmaceutical industry, importers of Bulgarian wine, producers of agricultural equipment, medical equipment and companies in the field of energy and high technologies.

Minister Stoynev presented to the American business the governmental measures for improving the business environment, reducing the regulatory burdens and supporting the investments.

EU funds can be used by foreign companies operating in Bulgaria, he said and stressed that European funds are for building over what the state does. The Minister highlighted the favorable geographical location of the country, which gives access to both the mature and in emerging markets. "Bulgaria can provide access to European markets, as well as those of Russia, Turkey, the Middle East", said Stoynev, adding that his ambition is to create policy that stimulates exports.

Another highlight during the meeting with U.S. business was the tax policy of the country, which, according to Economy Minister will remain unchanged in the future, and will be improved. Bulgaria continues to apply the lowest tax rates in Europe - 10% corporate tax rate, 0% tax for reinvestment of profits in communities with high unemployment, 5% withholding tax. According to him, the provided alleviation for people with a minimum income will not weigh on the employers and businesses.

Minister Stoynev outlined the activities of the National Company "Industrial Zones" which currently operates in three working areas in Rousse, Vidin and Svilengrad and develops five additional industrial lands - Bozhurishte, Burgas, Karlovo, Telish / Pleven and Varna. In advanced stage of development are the Economic Area Sofia - Bozhurishte and the Industrial and Logistics Park Burgas. In the industrial zones entrepreneurs will have infrastructure and will rely on the support of the administration to develop their businesses, said Stoynev. According to him, the American companies would be interested of the project "Sofia Tech Park ", where an incubator for startups and modern research structures will be developed.