Local Press Digest

SOFIA, Apr 28, 2000 (Rtr)


Bulgaria must cut red tape to attract foreign investors, said participants in a government-sponsored meeting of young Bulgarian professionals working abroad.


Privatization Agency extended the deadline for drawing bids for 51 percent in state tobacco monopoly Bulgartabak Holding to July 24 from April 28 on request from potential buyers. So far Philip Morris , Britain's Gallaher Group and Germany's Reemtsma have expressed interest.

A Libyan lawyer defending six Bulgarian medics standing trial in Libya will ask the court on Sunday to postpone hearings by another two months, a Bulgarian state TV reporter to Tripoli said. The six are accused of infecting 393 Libyan children with the HIV virus that causes AIDS.


Japan's Mitsubishi was interested in the sale of Bulgarian state telecom monopoly BTC and in buying a stake in Bulgaria's planned second GSM cell phone operator, Deputy Transport Minister Petko Tabakov said upon return from Tokyo.

Bulgaria is in talks to finalize a $600 million deal for the sale of 51 percent in BTC and granting a license for a second GSM operator to a consortium of Greek OTE AT) and Dutch KPN.

Deputy Prime Minister Petar Zhotev said the government could not agree to a proposal by Bulgarian businessmen to cut taxes sharply as early as this year to boost economic activity. He said some taxes will be lowered in 2001.

Original article