“Bulgaria is seen by some investors as an attractive low-cost investment destination, with government incentives for new investment. The country offers some of the least expensive labor in the European Union (EU) and low and flat corporate and income taxes. Labor shortages and inflationary pressures, however, have increased wages and domestic prices,” reads a US Department of State report on the investment climate in Bulgaria in 2023. The report points to problems such as labour shortages, inflation, the increase in wages and domestic prices, the lowest labour productivity in the EU and rule of law. “There are no legal limits on foreign ownership or control of firms. With some exceptions, foreign entities are given the same treatment as national firms and their investments are not screened or otherwise restricted,” the analysis reads.
“The war in Ukraine disrupted supply chains, contributed to domestic inflation, and made investors more cautious, but it also creates opportunities in Bulgaria to effectively consolidate supply chains through nearshoring,” the US Department of State report reads.
Caretaker Minister of Energy Vladimir Malinov has confirmed that Hungarian company MOL will participate in the auction for the sale of Lukoil Neftochim. His words came in response to a statement by Prime Minister Viktor Orban, made a..
In a statement to the media, party leader Delyan Peevski announced that he had sent a letter to the Alliance of Liberals and Democrats for Europe, in which he announced the decision of DPS-New Beginning to terminate its membership in ALDE. It was taken..
Animal protection organizations protested in front of the Sofia Municipality, demanding humane treatment in municipal shelters. Environmentalists point out that the dogs are suffering in the cold, crammed into shared cages where they end up eating..
12 settlements in Smolyan district are without electricity after the heavy snowfall yesterday. Settlements in the municipalities of Smolyan, Devin and..
Representatives of 4 clubs of the Macedonian Patriotic Organization (MPO) in North America met at the Church of the Holy Spirit in Youngstown. The host..
This year, employers prefer to replace the 13th salary with Christmas events and bonuses. Less than 50% of companies in Bulgaria pay bonuses...
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