2024-05-02 16:46:20
The President’s veto on the changes to the ZNI and its adoption by the National Assembly is correct. Makes it possible to adopt a working law that will support the investment environment in Bulgaria, according to the Strategic Institute for National Policies and Ideas
More than a month ago, the economic experts of SINPI warned that the planned changes to the Investment Promotion Law create an uncompetitive environment for the Bulgarian economy and are detrimental to our national interests.
“The model of making changes to existing laws and adopting new ones, without a thorough assessment of the impact and without considering them in detail in the parliamentary committees, creates chaos and problems in the country’s regulatory framework,” says the position of the Strategic Institute for National Policies and ideas.
The SINPI recalls that in his reasons for the veto on the changes in the ZNI, the president disputes the possibility of abusing the property and assets of public enterprises.
They consider it reasonable to assume that, at the request of an investor with an investment grade certificate, they may sell, exchange or establish a gratuitous limited real right on properties without an auction or competition, as well as at prices lower than market prices, but not lower than the property’s tax assessment.
“This will lead to the possibility of abuses”, the SINPI are convinced and add that this creates prerequisites for shortened consideration periods for projects of national and regional importance.
According to the experts, with the change, through this law, in the Environmental Protection Act, the possibility of giving a ruling to all interested bodies is practically removed and the control over the implementation of the project is reduced. Conditions are created for a lack of transparency and equality. In addition, with the deprivation of the environmental impact assessment mechanism, the provisions of Regulation (EU) No. 651/2014 are rendered meaningless.
“The changes made in this way threaten our national security and above all the security of Bulgarian citizens”, the Strategic Institute for National Policies and Ideas are convinced.
SINPI says that the return of the ZID of the Investment Promotion Law for a new discussion in the National Assembly provides an opportunity to review other changes made recently and hastily, which, according to many analysts, hinder the development of the Bulgarian economy.
A few days ago, during the Discussion Forum “Economy of the Euro – development of industries and services and promotion of investments in the conditions of the transition to the euro”, organized by the Strategic Institute for National Policies and Ideas, several concrete proposals were made for changes to the ZNI , namely:
To carry out a full impact assessment of the proposed measures and the screening mechanism in the Investment Promotion Act.
To carry out an analysis and risk assessment, regarding the legal impact of international agreements on the eligibility provisions of third country investments, in the screening mechanism.
To amend the eligibility of third country investors by not drawing up a definitive list of countries, but to apply a balanced approach to eligibility based on security criteria.
To include text governing the extension of pre-existing investments from third parties to treat both the eligibility assessment in the screening mechanism and not falling within the 10% cap.
To replace the term “high-tech” with “critical” technologies, thereby expanding the possibility of investments in high-tech industries that are not critical to the national security of the country.
“We sincerely hope that a proper debate will be held in the 50th National Assembly, all parliamentary procedures will be followed and a working law will be adopted to support the investment environment in Bulgaria,” SINPI said in conclusion.