Bulgaria offers foreign investors some of the world's most
competitive business costs. Real estate investment has produced a
plentiful supply of modern offices at very competitive costs.
Corporate taxes and labor costs are quite low for European
standards. Privatization and deregulation are creating sophisticated
public utility and telecommunications industries.
Bulgaria's working-age population consists of around 4.8 million
highly educated and skilled men (52 percent) and women (48 percent).
The literacy rate in Bulgaria is 93 percent. A high percentage of
the work force has completed some form of secondary, technical, or
vocational education. Many Bulgarians have strong backgrounds in
engineering, medicine, economics and the sciences. The aptitude of
workers and the relative low cost of labor are considerable
incentives for foreign companies to invest in Bulgaria.
In its annual 2002 report, the European
Commission assessed Bulgaria as a fully functional market economy,
with a high degree of macroeconomic stability and working market
mechanisms. The Bulgarian economy is working under currency board (1
Bulgarian Lev=1.95583 Euro), which provides for a stable and
predictable macro economic environment. Careful fiscal discipline
and strong foreign investment has provided for sustained economic
growth for the last 7 years.
The expected economical growth (GDP per capital) is about 5 percent
per year. The state owned section of the Bulgarian economy is about
With many local and foreign investments, the financial system is
stable and banks are expanding their landing.
Foreign investment in Bulgaria has never been so dynamic and so
massive. During recent years, a significant number of international
companies have opened offices in Bulgaria, just to name a few:
Solvay, Umocore, Italcemente Group, Liebherr, Kraft, Nestle,
American Standard, Philip Morris, Metro, Lindner, Praktiker and SAP.
As a result of a liberal financial policy and continuous economic
growth, Bulgaria has become very attractive to foreign investments.
In addition, local companies are also increasing their share of
business in Bulgaria and abroad.
Bulgaria has a very strategic geographic location. Its
position on the European continent allows
investors to reach the entire market of the European Union and the
markets of central and eastern Europe, which represent a total
population of 853 million.
With its parliamentary republican political
system, the political situation in Bulgaria is stable and the
legislature, the executive and the judiciary are independent of the
parliament. As of Jan1, 2007, Bulgaria is a part of the European
Union and has harmonized its legal system in line with the EU
requirements. In April 2004, the country became member of NATO.
Bulgaria and its capital Sofia offer a cosmopolitan quality of life
that is regarded as among the highest in Europe. First time visitors
to Bulgaria are often surprised by the diversity and stunning
natural beauty. For years a real effort has been made in order to
preserve the country's rich and unspoilt flora and fauna. As a
result, today's Bulgaria is ecologically one of the purest countries
in Europe, with exceptionally clear air and water resources. There
are 7 national parks, more than 3000 protected natural sites and 17
bio-spherical reserves (the greatest recorded number in Europe).
There are also 419 protected animal species and 63 protected types
Not only is the quality of life in Bulgaria good, but the cost of
living is one of the lowest in Europe. A meal for two, made from
organically pure products and including a bottle of nice wine will
not cost you more than seven or eight Euros.