2024-02-22 13:17:50
Creation of an Interdepartmental Council for the screening of foreign direct investments to the Council of Ministers and an end to the entry of corrosive capitals to the detriment of the state.
This was finally adopted by the deputies with changes to the Investment Promotion Act. 138 MPs voted “for”, 42 were “against” and 10 abstained.
The bill states that attempts to invest more than 1 million euros in the country’s critical infrastructure – energy, transport, defense, electoral or financial infrastructure, media, data processing or storage, etc. – will be subject to special monitoring.
This includes even technologies such as artificial intelligence and robotics, nanotechnologies. As a justification for the introduction of such measures, it is stated that “the tendencies to increase on a global scale the malicious (mainly Russian) corrosive capitals, especially in the context of the unprovoked Russian military invasion of Ukraine, are intensifying.
For this purpose, the creation of an Interdepartmental Council for the screening of foreign direct investments is envisaged.
It will be led by a deputy minister from the Ministry of Innovation and Growth. If someone wants to make an investment that falls under the law, they must first approach the council for permission.
The Board itself will have discretionary power to arrange for an inspection of an investment if it deems it to be within its purview.
For anyone who violates these rules, the deputies agreed to impose a penalty in the amount of 5 percent of the value of the investment, but not less than BGN 50,000.
As expected from the opposition, they were against it.
“This law is another attempt by the rulers to stand at the entrance and exit of some processes in Bulgaria – in this case, foreign direct investments. This law is not needed, and it is not efficient”, said Alexander Valchev from “There is such a people”.
The deputy chairman of the economic commission in the parliament refuted Valchev’s words and thanked everyone who participated in the law.
“I want to point out that this bill and the full application of screening will prevent the entry of corrosive capital, which is of extreme importance for the national security of both Bulgaria and the entire EU unit,” he explained.
According to the words, despite the delay, the efforts made were worth it, because its adoption will only be in the interest of the Bulgarian citizens.