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Bulgaria Approves Joint Investment Venture with Qatar
Date: 24/02/2011
Bulgaria Approves Joint Investment Venture with Qatar

Bulgaria's Parliament has approved the setting up of a joint venture between the Bulgarian "National Company Industrial Zones" and the Qatar Investment Authority.

The future joint venture of the state entities of Bulgaria and Qatar will have a capital of at least USD 500 M, with all of the money being provided by the Qatar Investment Authority.

The funds will be invested in Bulgarian agriculture, real estate, tourism, finance, and other attractive investment opportunities.

The document approved on Wednesday also provides for the establishment of joint ventures between the governments of Bulgaria and Qatar in various economic spheres, the Bulgarian Ministry of Economy, Energy, and Tourism announced.

The agreement for the setting up of the joint venture was made in March 2010 during a visit of a Bulgarian state delegation in Doha.

Bulgaria's National Company Industrial Zones is a state-owned entity set up in 2009 to develop industrial properties around the country and to attract foreign investment. At present, one of the most important projects of the state company is the future Bulgarian-Chinese industrial zone in Bozhurishte near Sofia.


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The biggest city at the Bulgarian Black Sea coast, Varna is situated 470 km east of Sofia. In the course of more than 7 millennia, the Gulf of Varna has been the cradle of several significant civilizations - humankind's oldest gold was excavated in Varna, created by people who inhabited that place around the 4th millennium BC and long before the Thracians, Greeks, Bulgarians and Turks.

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