CEOL
Bulgaria

Local Press Digest

SOFIA, Apr 28, 2000 (Rtr)


24 CHASA

The center-right majority in parliament passed a law declaring criminal Bulgaria's 45-year communist rule that ended in November 1989. Opposition ex-communist Socialists walked out in protest against the bill.

Main opposition Socialists and anti-Communist People's Union party, a junior partner in the ruling coalition, said they would not back a proposal by the governing UDF party to change the constitution in a bid to curb immunity against criminal prosecution of members of parliament and magistrates.

Such a change requires a two-thirds majority in the 240-seat chamber where the UDF has an outright majority.

Bulgaria should cut red tape to attract foreign investors, Bulgaria's Prince Kiril said at a meeting with President Petar Stoyanov. Kiril, a son of Bulgaria's exiled King Simeon II, is a business consultant at London-based investment bank Lehman Brothers and an economic adviser to Stoyanov.

PARI

Bulgaria's Foreign Investment Agency awarded the prize of the biggest foreign investor in 1999 to Germany's Metro AG . Metro has invested a total of $68.8 million so far in its five cash-and-carry stores in Bulgaria.

The agency awarded Russia's oil major LUKoil for sealing the biggest privatisation deal in Bulgaria last year by buying the oil refinery Nefochim for $101 million.



Original article