Suzanne
18-03-06, 11:20 AM
Foreign investors to be able to start companies in Bulgaria for a couple of minutes; this might happen if the Ministry of Economy registers a certain number of companies with all the necessary formalities, according to Economy Minister Rumen Ovcharov. So, when investors willing to start business in Bulgaria come here, they will be given the full package of documents of a company ready to start functioning. At present it takes about 27 days to register a firm in Bulgaria. The process is about eleven times slower than in neighbouring Turkey, according to the entrepreneurs who took part in the Economic Growth Council. "Since the onset of market economy in Bulgaria it has been as if "the business is at war with the administration"," said Prof Borislav Borissov, chairman of the Union For Entrepreneurial Initiative. He believes the administrative servicing of companies favours corruption instead of facilitating the business initiatives.
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