Red tape has undermined the passport-in-exchange-for-investment model, Sega writes. According to Glоbаl Invеѕtоr Immіgrаtіоn Соunсіl survey of nine EU countries offering foreigners to acquire citizenship in case they make an investment, Bulgaria’s contribution into the model is fairly modest: 84 foreigners so far have invested 43 million euro. The main hindrance is heavy red tape, the lack of transparency and publicity.

Close to 20,000 Bulgarians have been looking for jobs in Europe through EURES, a European online platform for professional mobility, Trud writes. Job openings in |Europe are 1.1 million. Close to 260,000 CVs have been submitted for them to 6700 employers.

Wages have been growing four times faster than labor productivity, writes Capital Daily. In the first trimester of 2016 labor expenses grew 8% according to the national statistics. Wages have been growing with the same rate. Most of the growth has resulted from an increase in the centrally regulated minimal social security margins. Since the beginning of the year they have been raised by 8.4% on average.

Bulgaria places 86^th worldwide as per contribution into the sector of tourism in the overall economy, Sega reports referring to the latest Economic Impact Report 2016. In Bulgaria tourism has reported 1.9 billion euro in revenues for 2015 contributing a modest 3.3% to GDP.

Standart reports that the Japanese Yazaki Corporation, a big supplier of automotive parts is going to invest more than 50 million euro in a new factory in Dimtirovgrad. The company has already opened two factories in Yambol and Sliven. Yazaki Bulgaria is one of the major employers in Southern Bulgaria. It plans to open 3000 new jobs in its new facility. In October the company plans to launch a pilot factory and employ 200.  

Bayer has unveiled an agrarian innovation center in Gorna Mitropolia, Northern Bulgaria, Novinar writes. The center will be involved in promoting measures for proactive agriculture with a view to consumer and food safety and environmental protection. It is also going to initiate partnerships aimed to develop sustainable farming.

English Daniela Konstantinova