Petar T. Ivanov: The U.S. Investments are Significantly Underestimated

There is total undervaluation of the volume of the Foreign Direct Investments. The issue we have with the U.S. investments is that the American business comes via countries like The Netherlands where the judicial system is similar to the American one, and it can protect their investment. This was said by Petar T. Ivanov, Executive Director of the American Chamber of Commerce in Bulgaria during the live TV Interview on bTV's "Face to Face" Show hosted by Tsvetanka Rizova.

"Eastern Europe is no more emerging market. The majority of those countries are members of the European Union".

The statistical underreporting leads to 2-3 times less volume of the U.S. investments, he quoted the recent report of the Institute for Market Economics. Those investments are BGN 4,5 bn through the years, and they are focused in high-tech sectors.

Those sectors are - manufacturing, agriculture, ITC, and energy.

?Lack of judicial system and reforms in it hurdle investments. We have low tax rates, which is our slogan in front of the foreign investors. Thus we have to focus on the judicial system in order FDI and investors to pay attention to our country," said also Ivanov.

In Israel their children have bad results in Math tests. But if they are asked to solve some complex mathematical problem, those children become number one. It is very important a person to have positive perspective to reach their goals, pointed out Ivanov.

He said that the Bulgarians as nation have to study the best global examples and to change our attitude, and to succeed as a nation, he concluded.

Watch the full interview here .