Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Four rules for successful business in Bulgaria

БНР Новини
Deputy Prime Minister for European Policies Meglena Kuneva and World Bank representative in this country Tony Thompson
Photo: BGNES

In Bulgaria there is a problem with the rule of law and this has a negative effect on the economy of the country. This is what Bulgarian Deputy Prime Minister for European Policies and Institution Issues Meglena Kuneva said at the Seventh Southeast Europe Economic Forum, held in Sofia. 
 
In a study of "Open Society," 2/3 of respondents believe that the law does not apply equally to all. Also 2/3 of them think that the laws were unjust. The effectiveness of the legislative process can be improved through civil legislation initiatives that are new for Bulgaria but not new for Europe.

“We have been getting increasingly closer to the democratic opportunities,” said Meglena Kuneva. “Within a generation’s time, besides the free press, we now have the Internet and social networks. This would have its effect on the legislative process. We try to compensate for the delays through ‘impact assessment’, public hearings and referenda that may directly affect the legislation.” 
 
Distrust in the effectiveness of legislation reduces the flow of Bulgarian and foreign capital in the economy, says representative of the World Bank in this country Tony Thompson, who participated in the economic forum. According to him, in order to start a successful business in the country, a new Bulgarian or foreign company must keep to four rules: 
 


 
 

Tony Thompson believes that in order to improve the business environment in Bulgaria it is also necessary to increase discipline when agreements are concerned, to reform education and public administration. 
 
Another problem, according to experts, is that currently about 20% of graduates in Bulgaria leave the country, which is associated with opportunities for finding a better paid job abroad, as well as a better social system.

English: Alexander Markov




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

The price of electricity is expected to increase by 9% on January 1, 2025

The price of electricity for households could increase by nearly 9% starting next year, according to estimates by the Energy and Water Regulatory Commission. This means that with an average consumption of nearly 400 kilowatt-hours, the monthly bills..

published on 12/15/24 10:01 AM

CITUB calls for the introduction of a national subsistence wage

The leadership of the Confederation of Independent Trade Unions in Bulgaria (CITUB) insists that a national subsistence wage be introduced in Bulgaria, with the minimum wage in the country reaching at least 80% of the subsistence wage by 2027. According..

published on 12/13/24 10:35 AM

Export to EU and non-EU countries declines

In the period January - September 2024, exports of goods from Bulgaria to the EU decreased by 3.6% compared to a year earlier and amounted to 20.895 billion euros. The main trading partners are Germany, Romania, Italy, Greece and..

published on 12/12/24 1:23 PM