site.btaCabinet Approves Support for Certified Investment Projects

The Council of Ministers approved a draft agreement, which will be signed with investors who have received a certificate under the Investment Promotion Act (IPA) and have requested the application of an incentive measure for the reimbursement of social security and health insurance contributions for employees.

By concluding these agreements, the government aims to encourage the implementation of investment projects with a planned total investment value of BGN 148,000,232.61, which are expected to create 1,827 new jobs.

The necessary funding to support these investment projects is capped at a maximum of BGN 4,511,337.64.

Under the agreement, grant aid will be provided to partially reimburse the mandatory social security and health insurance contributions paid by the investor for the new employees hired under the project. The reimbursement will cover a maximum period of 12 months from the date each job is created, in exchange for the investor’s commitment to complete the investment project and to maintain both the investment and the employment supported by the state aid.