InvestBulgaria director Borislav Stefanov resigns

Borislav Stefanov has resigned as executive director of Bulgaria’s investment promotion agency InvestBulgaria.

Stefanov said on Facebook on August 27 that it was “time to leave InvestBulgaria” and highlighted Bulgaria’s recent investment promotion campaign abroad as one of his main achievements while in office.

Bulgarian news website quoted Stefanov saying that the lack of communication with the socialist-backed government of Prime Minister Plamen Oresharski was the main reason for his resignation.

According to the report, Stefanov said he had no meetings with representatives of the Cabinet since it took office in late May, adding that it was best for InvestBulgaria to have a director that had the prime minister’s and the government’s trust.

Commenting on Bulgaria’s investment promotion law, Stefanov said that the government should seek more incentives that would make Bulgaria a more attractive destination than its neighbours. At the same time, the current government did not clarify what policies it would pursue in order to attract new investment, he was quoted as saying.

Stefanov has an MBA from Harvard Business School and previously worked for Boston Consulting Group in Moscow and DaimlerChrysler in Dubai. He became deputy executive director of InvestBulgaria in 2009 and was appointed its director in May 2010.

News website said that Stefanov was likely to be replaced by Svetoslav Mladenov, recently appointed deputy executive director of the agency.



The Sofia Globe staff

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