Despite the negative predictions about the consequences Bulgarian businesses would face after the country's expected EU entry in January 2007, a survey shows company representatives were not worried to face the European competition.

In the past few years Bulgarian investment in long-term material assets exceeded 100 per cent to reach more than 10 billion leva annually, Banker newspaper reported.

According to data of the National Statistical Institute (NSI) the peak has already been reached and growth is expected to slow down in the coming years.

Economists said the slowdown indicated most companies were ready to meet the challenges related to the country's EU entry.

Most of the investment in 2006 was focused in the processing industry, 26 per cent or more than two billion leva. The sector featured among the least developed and needed major technological innovation, Banker reported.

Transactions involving property and business services also marked a steady growth in the past six years. The increase resulted mainly from the construction boom Bulgarian experienced recently, Banker reported.