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US Envoy: Organized crime poisons Bulgaria's businesses

Date: 29.11.2005

American ambassador John Beyrle said before the American Chamber of Commerce in Bulgaria that organized crime and corruption poisoned the business environment in the country.

Investors - like all Bulgarians - wanted to see criminals and corrupt individuals put out of business and into jail, Beyrle said. This was one of six conditions that the envoy pointed out as necessary for foreign investors to come to Bulgaria.

Efficient and fair judiciary was imperative, because business people needed contracts to be respected and enforced, the ambassador said. He added that the lack of protection of intellectual property also scared investors away. Not only the data pirates but also those who sold fake clothing and spirits should be stopped, he said.

Transparency and double taxation were also among the problematic issues that, according to Beyrle bothered the American investors in Bulgaria.

The ambassador pointed out some of the most successful American investors in Bulgaria and said that due to the partnership with such companies the country was more productive, more competitive and more ready to enter the EU in 2007.

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