AmCham Position Against Draft Regulation on Royalties of Metals Mining

AmCham Bulgaria and its Energy and Mineral Resources Committee sent today, May 27th, 2022, official statement on the Draft Regulation of Metals Mining Royalties in Bulgaria. The Chamber shares its concern about the consequences on the investment framework if the proposed Draft Regulation is approved. Chamber’s analysis is based on the evaluation of the economic environment, the need of sustainable development of export-oriented industrial base (that includes various of sectors, including the mining sector), as well as encouraging the regional development by operating enterprises, environment protection, and sustaining of the young and capable people locally. In the basis of our statement are the AmCham priorities as well, such as the development of a sustainable business environment and rule of law.

With this position, the Chamber took part in the Public Consultation process that starts on April 28th, and ends on May 30th, 2022

Chamber’s main concerns include:

  • We consider that the Draft Regulation (ordinance) and the overall process are illegitimate and inexpedience. It should be reconsidered in total.
  • The lack of solid arguments, facts and real goal setting give the feeling of an administrative-driven approach, that does not consider the specifics with the mining industry of Bulgaria.
  • The impact of the business climate will be negative. With the Draft Regulation is sending a signal, that discourages long term investors and newcomers that are monitoring the country at the moment and plan their future investments.

AmCham Position On Draft Regulation of Metals Mining Royalties