Petar T. Ivanov on BNR: We’ve got the most vague business laws

Corruption, slow justice, unpredictability because of the often chances of the laws are among the issues before the foreign investors – this is pointed out in the Annual Report of the U.S. State Department on the investment climate in more than 170 countries. 

With regard corruption Bulgaria stands on 74th place, jointly with Romania. However, the most worrying fact is that this ranking is close to countries like Tunisia, other African countries, as well as CIS countries. Petar T. Ivanov spoke with Silviyva Velikova in the “Before All” Morning Talk Show on the Bulgarian National Radio. “Belarus, which faces unprecedented protests, has much better place in this ranking. Any investor doesn’t want to see such findings in any report on the investments,” he pointed out.

Often U.S. companies address AmCham Bulgaria with requests to attend court cases. “They have the feeling that the judicial process wouldn’t be fair,” Petar T. Ivanov said.

We have some of the most vague business laws. In this ranking we are on the 61st place in the way of ease of doing business. “Even Kosovo is before us. I am feeling quite unhappy with such a fact,” Ivanov emphasized.

Among the positives in the report Ivanov pointed out that Bulgaria ranks on 40th place out of 129 in terms of innovation.

Source: BNR

Listen to the interview

Photo: Gergana Kostadinova, BGNES