Joint Ventures: A New Practice in Bulgarian Foreign Economic Relations

This working paper is one of a series produced by TES-MTC project discussing the problem of East-West Joint Ventures located in the CMEA countries on a country basis. The paper describes the current situation in Bulgaria. An evidence of the process dynamics is that during the time the first version of this working paper has been edited a new legislation was introduced in the country. A small new paragraph has been added now under the heading "A further step in legislation" analyzing the opportunities provided for foreign investors. The operating practice of joint ventures is remaining unchanged for the time being, but the outlooks are undergoing change. The end of 1988 and beginning of 1989 marked changes in all CMEA countries' legislation. Those changes do not only affect the joint companies with foreign participation, hut also the legislative frame of all economic activities in those countries. In the future the MTC project with its international network which is performing an empirical study on practical problem of East-West joint ventures will update the latest legislative changes through working papers and other printed material as detailed as possible