Банкеръ Weekly



THE STATE WILL BE SUPPORTING INNOVATIONSMS. SHOULEVA HAS PROMISED THAT BULGARIA WILL BE FOLLOWING IRELAND'S ROADA fund for encouragement of innovations will be set up next year, the Deputy Premier and Minister of Economy Lidiya Shouleva announced during the Bulgarian-German Business Forum, held on May 18. The fund will be subordinated to the Ministry of Economy and companies willing to use various scientific achievement in their work will be able to apply for financing from it. In front of the German-Bulgarian business audience Ms. Shouleva emphasized on the major priorities to Bulgaria's economy, underlying that the most important thing for the country at the present moment was to achieve accelerated economic growth. According to her, in that direction Bulgaria could follow the experience of Ireland, where 15 years ago the incomes were 60% of those in the EU and now they are 120 per cent. The chief measures to be undertaken by our country, according to Ms. Shouleva, are connected with the increase of competitiveness of Bulgarian business, the encouragement of investments, and the establishment of clusters. She pointed out that the Government will accept all kinds of proposals on the part of the Business Club of German Economy, including such in the form of legislative initiative for improvement of the business environment in Bulgaria. However, it turned out that the club has already taken advantage of that and its members have proposed amendments to the Ordinance on packings and wastes from them, as well as to the Act on Administrative Violations and Penalties. A decision was made at the forum for merging the Business Club of German Economy in Bulgaria into the German-Bulgarian Chamber of Commerce and Industry, set up last March. According to the club's head Mitko Vassilev, back when it was established in 1998 there was an idea for turning it into a chamber. The German-Bulgarian Chamber of Commerce and Industry was set up in order to promote and support bilateral trade and economic relations, to represent and defend the economic interests of its members, and to provide them various kind of services. For the purpose the chamber is investigating the market conditions and the opportunities for sales and investments, and mediates in the establishment of relations between businessmen from the two countries. Bulgarian juristic and natural persons can be members of the chamber and the only condition for membership is that they should be of age.

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