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Investment agency chief expects 5-5.5B euro FDI in 2008

Mon, Dec 15 2008 12:53 CET

byAlex Bivol

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Foreign direct investment (FDI) in Bulgaria will reach five to 5.5 billion euro in 2008, financial news website investor.bg quoted the head of InvestBulgaria government agencyStoyan Stalev as saying. Last year, FDI in Bulgaria was 6.11 billion euro.

FDI in the first nine months of the year was 3.66 billion euro, compared to 4.7 billion in the same period of 2007, Stalev said, citing Bulgarian National Bank data.

Despite a big drop in real estate investment, which halfened from 1.79 billion euro in the first three quarters of 2007 to 920 million euro in the same period of this year, their loss waspartially made up by investment in production capacities, which grew from 158.6 million euro to 596.7 million.

With real estate projects no longer qualified to apply for investment certificates from InvestBulgaria, which allow recipients to receive state aid to cover infrastructure costs, the agency has only awarded 13 such certificates in 2008.

The total investment in those projects is set to reach 1.6 billion euro and they will provide 3000 jobs in the construction stage alone, investor.bg said. Of them, 11 projects were in the industrial sector.

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