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US: Bulgaria is attractive with its cheap labor, but corruption remains a problem

Photo: bulgaria-embassy.org

Bulgaria is among the countries with the cheapest labor in the European Union, with low and fixed corporate and income tax. This makes it an attractive destination for many investors with lower business costs.

However, foreign investors remain concerned about the rule of law in this country. This is seen in the annual report of the US Department of State on the investment climate in Bulgaria. Among the problems pointed out by investors are widespread corruption, difficulty in obtaining permits, unpredictability due to frequent regulatory and legal changes, as well as sporadic attempts to terminate long-term contracts.

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