The results from a pilot survey conducted by InvestNet.bg about the third quarter of the year show that the investment activity in Bulgaria is unlikely to improve by the end of the year.

This pilot report, entitled Investment Sentiment Report (ISR), is the first of its kind on the Bulgarian market and is based on the quarterly Investment Sentiment Index survey conducted by GS Research and InvestNet.bg - the Bulgarian Investment and Business Network. The value of the third quarter Investment Sentiment Index (ISI) is 46.64 percentage points, on a scale of 0 to 100 points.

ISI is an innovative leading economic indicator and a key measure of investor sentiment for the Bulgarian economy. It is a quarterly index based on survey data, which is analysed and presented in more detail in the Investment Sentiment Report (ISR). The main focus of the index is to offer a new tool with which to gauge investment sentiment in the Bulgarian marketplace.

The predictions for 2011 are optimistic, the survey showed. The same dynamics are outlined for the general investment climate and for the capital market in the country - slower until the end of 2010 and gradually gathering momentum in 2011.

The predictions for direct and portfolio investments also include an increase in 2011. As far as government policy is concerned, its actions and policy are expected to be more favourable for investments next year. The most attractive region for investments is Western Bulgaria, while the energy sector is the most attractive industry for investments.