Tuesday, May 13, 2008

Investors Run Away From Bulgarian Mafia, Move to Romania


The foreign investors were scared by the Bulgarian mafia and are seriously considering to move their business to Romania, writes the online media “Romania libera” citing the Romanian TV “The money channel”.

The situation in Bulgarian from the viewpoint of the business climate is much more difficult than that in Romania, because the Bulgarian politicians and officials are in close relations with the mafia, claim anonymous businessmen, cited by the newspaper. The investors say also that it is nearly impossible to do business in Bulgaria without bribing.

The mafia-style crimes and the illegal business provoked serious criticism including from Brussels. The political body in Sofia is accused of a lack of real reforms in the judicial system. Sofia is however proud that in the last two years it has attracted around 6 bln EUR annually. However, economists say that the quality and the structure of these investments are worrying, writes “Romania libera”.

Last year nearly half of the funds have been directed towards the field of construction and the real estate business, which after some research, have become the market target of the organized crime and the money laundering.

The ordinary Bulgarians are also not fond of the economic situation in the country. A research of the public opinion shows that in the ranking of the most serious problems, corruption is already overtaking the low salaries.

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