Romanian companies that registered in Bulgaria have been attracted by the latter's business climate, according to Valentin Radomirski, Bulgarian Ambassador to Romania.
"Predictability, business-friendly environment, low tax rates are elements that attract companies. For the last two months only, three credit agencies consistently affirmed the positive credit rating of Bulgaria and this is a strong message to business - both foreign and Bulgarian. Romanian companies are among many others...
The sales of second-hand cars in Bulgaria grew by 30%-50% in 2010, year-on-year, estimates have shown.
According to Lyubomir Dorosiev, deputy head of the Association of Car Importers, as cited by money.bg, the Bulgarian market for second-hand cars had a growth that is impressive against the backdrop of the economic crisis and the reduced domestic consumption.
Dorosiev pointed out there is a increasing trend of people in Bulgaria preferring second-hand to new cars.
Data of the...
Bulgaria's Food Safety Agency will start operating on February 1 2011, the Bulgarian Agriculture Minister Miroslav Naydenov has announced.
This means a one month delay, as the agency was originally scheduled to begin operating on January 1, 2011. As Naydenov explained on Tuesday, the Bulgarian MPs have been too busy passing the Election Code amendments, which has led to a delay in the new legislation on foods, necessary in order for the agency to be launched.
"The new law will be ready...
The index of wholesale prices in Bulgaria went up from 1.784 to 1.825 points in the last week of 2010, which is the highest level since the beginning of the year.
The data comes from the State Commission for Commodity Exchanges and Market Places.
For comparison, in the end of 2009, the index of wholesale prices was 1,704 points.
There was an increase of 7 points in the index in the end of December 2010, in comparison to the same period the previous year. The highest price hikes at the...
Bulgaria's Transport and IT Minister Alexander Tsvetkov has met with his Brazilian counterpart Paulo Sergio Passos on Saturday.
The two countries are expected to sign an Agreement on collaboration in the IT sector.
Mutual collaboration opportunities in the sphere of railway transport have also been discussed.
On Thursday, when a Bulgarian delegation visited Brazil's President-elect Dilma Rousseff, some off the topics discussed partnerships in the construction of Brazil's railways,...
About 60% of the construction of the so called Danube Bridge 2, the second one to connect Bulgaria and Romania over the Danube River, have been completed.
Additionally, some 50% of the auxiliary infrastucture facilities, including a 600 meter long road junction near the Northern Bulgarian town of Vidin, has already been built. A total of 8 highway and railroad overpasses have also been completed.
The construction work will continue anew on January 11 2011.
The crude completion of the...
Bulgaria's special Agriculture Fund has affirmed 311 EU Rural Development projects, which will cost a total of BGN 136.6 M.
A total of 263 projects are for the modernization of agricultural farms, the planned sum for this activity is BGN 73.5 M. A total of BGN 24.8 M is planned to be spent on 21 projects under the development of value-added agricultural enterprises measure.
BGN 35 M is the sum intended for 16 municipality projects for the development and modernization of rural...
Leading Bulgarian financiers have criticized the Borisov Cabinet for its response to the economic crisis while also recognizing that the government has in a way reacted to it “adequately.”
“The government has been acting adequately in a time of crisis inasmuch as it hasn't done almost anything,” economist Emil Harsev said speaking on BNT Wednesday.
He elaborated that, in his view, taking international bailout loans or other similar steps will be deadly for Bulgaria's finances.
The opening of the second line of the Sofia Metro in 2012 will double its load to 400 000 passengers daily, from the current 180 000, according to Sofia Mayor Fandakova.
Fandakova said upon inspecting the subway construction, that the completion of the second line should relieve the traffic in Sofia by 25%.
At present, the Sofia Metro has only one operational line from the Obelya and Lyulin quarters in the northwest to the Mladost 1 quarter in the southeast. The second line will run from...
A consortium of two Bulgarian companies and one Italian firm has won the Transport Ministry tender for modernization of the Plovdiv-Burgas railway in Southern Bulgaria.
The consortium of Trace and SK-13 and GCF, a company from Italy, provided the lowest price of all bidders – BGN 380 M.
"We are thus saving BGN 110 M from the rehabilitation of the railway since this is the difference with the lowest prices offered during the two tenders," explained Bulgaria's Transport Minister Alexander...
In 2011, priced for apartments in Bulgaria will hit bottom and go upwards by the end of the year, according to forecasts by real estate experts.
“Prices for residences in 2011 will remain at their historically low levels. We expect them to be stable in the big municipal cities. We also expect a delay in the drop of prices in the country in general,” said Teodora Dimitrova, executive director of the Bulgarian office of ERA.
Real estate agents from Elta Consult also think that drastic...
Bulgaria's Road Infrastructure Agency has opened the Daskalovo road junction, which is expected to unclog the road traffic in all of Western Bulgaria, including the roads to Macedonia and Greece.
The Daskalovo junction connects two major highways in Southwestern Bulgaria, which are still under construction – the 19-km Lyulin Highway, and the 156-km Struma Highway.
The head of the Road Infrastructure Agency, Bozhidar Yotov, opened on Friday only the lower level of the Daskalovo road...
The supermarket chain Billa is opening Saturday its 20th store in the Bulgarian capital Sofia, the company announced.
Billa, which is owned by German concern REWE Group, currently operates 84 outlets in Bulgaria.
The new store is located in the very heart of the capital's downtown, on 116 "Rakovski" street, near the "Slaveykov" square.
Despite being smaller than the Billa supermarkets in the suburbs, of the so-called compact type, the store will offer a variety of merchandise,...
The Bulgarian Development Bank (BDB) and the Export-Import Bank of Korea (Korea Exim Bank) has signed a permanent cooperation agreement.
The aim of the agreement is to encourage and promote investment and trade between Bulgaria and the Republic of Korea.
The document was signed by the CEOs of BDB, Dimitar Dimitrov and Sasho Chakalski, and the President and Chairman of the Korea Exim Bank, Dongsoo Kim.
The two banks have agreed to finance projects to together and to work to boost the...
Bulgarian Trakiya highway's permit application form is to be approved by the European Commission by the end of 2010, according to Deputy Transport Minister Ivaylo Moskovski.
The application form has gone through all the required processing and is currently undergoing a mutual agreement procedure at the European Commission, Moskovski announced.
The highway's total budget is EUR 250 M, of which EUR 188 M has already been secured.
The construction of the longest trace betwen towns of...
The Business for Sale supplement of Financial Times has listed 140 Bulgarian businesses, offered for sale.
Most are real estate properties, but the offers also include companies such as a software business and even a TV channel.
Buyers are mostly attracted to hotels and family vacation homes. Listing prices are over USD 1 M to the record USD 35 M for a hotel in Bulgaria's largest summer resort "Sunny Beach.".
Properties for sale include a land plot near the Sofia airport, an office...
The "first real shopping mall" in the Bulgarian Danube city of Ruse opened doors with large crowds of shoppers storming it to raid the brand new stores.
The total investment in the construction of "Mega Mall" is BGN 64 M; the total built-up area of the mall is 48 000 square meters.
Of those, the commercial space is 17 800 square meters, and contains 100 stores, many of which are occupied by global brands entering the market of the Danube city of Ruse for the first time. The popular...
The Bulgarian government announced Thursday three new bids for exploration for oil and gas in the northern parts of the country.
Bulgarian legislation has it that companies must compete to get a permit to either explore or produce undergroun natural resources.
Of the three new territories open for prospecting, two are in the northeastern and one in the northwestern part of the country.
The territories are: "Block 4 Kubrat" (area: 2,500 sq.km.), "Block 5 Byala" (2000 sq.km.) and "Block...
Several Bulgarian NGOs on promoting web technologies have come together to form what has been described as informal association of the digital industry.
The participants that signed Thursday a cooperation memorandum include the Webit Ambassadors Program for Central and Eastern Europe, a program of the organizers of the largest e-business expo in Eastern Europe – the Sofia-based Webit; the Bulgarian Advertisers' Association, the Bulgarian National Self-Regulation Council, the Bulgarian Web...
Bulgarian households' financial wealth has increased by nearly BGN 4 B over the past year, according to Sofia-based consultancy Industry Watch.
Industry Watch's report "Personal Assets in Bulgaria: Financial Weatlh and Housing Market, Q3 2010" indicating that at the end of November 2010, Bulgarians' assets were worth a little more than BGN 38 B.
The Financial assets of the population have increased by 11% y-o-y due to the increased propensity of households to save. However, the report...