BICA GENERAL MEETING ELECTED NEW GOVERNING BOARD

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The General Assembly of Bulgarian Industrial Capital Association (BICA) elected new governing bodies. The current chairman of the Board of Directors of the Association Vassil Velev was re-elected for a new term, and his deputies will be Daneta Jeleva, Nikola Zikatanov, Rumen Radev and Kancho Stoychev. Boyan Boychev, Kiril Boshov, Stefan Vassilev, Mariana Iteva and Stefan Chaikov are also members of the Management Board of BICA. During the meeting, the composition of the National and Control Council of BICA was renewed.

The General Assembly also approved the priorities in the activities of BICA for the next four years. The association will work to improve the business climate in the country, to increase the competitiveness of the economy, to develop capital markets and research and to promote the implementation and continuation of reforms in the fields of energy and human resources.

According to BICA, the macroeconomic policy of our country should be directed in three main directions. These are maintaining the tax model, effective control over public spending and companies with a monopoly position on the market and a course towards the Eurozone and the OECD. The association will support the preservation of the proportional tax of 10% and the amount of social security contributions.

Emphasis in the priorities of BICA is the industrial policy to support the development of the economy so as to create conditions for accelerated economic growth, and hence income growth.

“Accelerating the activities for introduction of e-government, better regulation for free business development, implementation of a strategy for modernization and digitalization of the industry and promotion of investments and innovations are just some of the priorities that our country must implement in the next few years. years if we want to have a competitive business. These are the main prerequisites for the necessary growth of over 6% of GDP, through which to achieve catch-up development, reversal of migration flows and a future for our children and grandchildren in Bulgaria, “said Vassil Velev.

BICA also focuses on the development of capital markets. The capital market in our country can be used to raise resources to finance investment projects of both SMEs and projects of significant public interest, including participation in international companies, construction of energy, industrial capacity and infrastructure projects. Privatization transactions should be carried out mainly through the stock exchange, incl. minority shares in state-owned companies, such as Kozloduy NPP, NEK, Bulgartransgaz, ADIS, Bulgarian Sports Toto, Electricity System Operator and others.

During the General Meeting, the Executive Director of the Fund of Funds Vladimir Danailov and the Executive Director of the Bulgarian Export Insurance Agency Momchil Roynev presented to BICA the opportunities for support and financing of Bulgarian companies through the various financial instruments of the two companies.