The AmCham Bulgaria Media Breakfast was well-covered by the media. Here some of the highlights and snapshots of the articles.
The Bulgarian National Television included in the Central Evening News and reported the data from the study. Our story is after 23:30 minute of the news block.
NovaTV covered shortly and vaguely the press conference by pointing out that without any judicial and education reform the level of investments will decline.
TV Evropa reports the main conclusions of the report emphasizing on the importance of skills for the future work, and predictability of the business climate.
Capital.bg coveres the report with its main conclusion: “The U.S. Investments are underestimated. They are BGN 4,5 Billion”. The media quotes that the U.S. business wants educational and judicial reform.
Investor.bg present the data by emphasising that the U.S. Investments in Bulgaria are underreported. The media was interested on other economic topics like the cancellation of the Tax Profit which was hailed by the economists from the EKIP think-tank thus attracting more investors, Petar Ivanov said that this is not the main “carrot” for the companies. They want effective judicial system and predictable business environment. The main issue is that there is not qualified workforce due to the inadequate educational system.”The whole system has to be reformed, otherwise the investors will go to Romania instead.’ – said Ivanov also.
Svetla Kostadinova added that only 2% of the Bulgarian workforce has additional skills upgrade training. “This is one of the main disadvantage of the educational system. School and university education is not enough.”
Mediapool says that without judicial and educational reform the investment will decline in Bulgaria. Working judicial system and educational system the prepares professionals for the future of work are main ingredients for attracting foreign investors and creating significant growth.
Sega Daily covered the press conference with the title “Over half of the U.S. investments pass through third countries“. The liberal tax law is not the only reason that attracts U.S. companies to invest in Bulgaria. For example they chose The Netherlands because both countries have similar judicial systems, and the Dutch one is fast, effective, and predictably. Thus the investors rely that their investments will be protected, media quotes the AmCham Executive Director Petar T. Ivanov.
The slow judicial process is the main reason for outdraw of foreign capitals. The second one is the lack of qualified cadres. It is not only issue of demography. We need educational reform, and e-government.
Svetla Kostadinova, Executive Director, Institute for Market Economics, posted in her Facebook profile about the report presentation.
Another important social media post was of Olia Al-Ahmad’s who works with The Bulgarian Telegraphic Agency.