Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

US State Department report on the investment climate in Bulgaria in 2023

Photo: archive

“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. 



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

Viktor Orban (L) and Rumen Radev, Sofia, 20 December, 2024

President Radev: Bulgaria continues to be a reliable partner to Hungary in the energy sector

President Rumen Radev met in Sofia with the Prime Minister of Hungary Viktor Orban who is paying a visit to Bulgaria at the invitation of the Bulgarian president. Rumen Radev stated that Bulgaria will continue to be a reliable partner to Hungary in..

published on 12/20/24 3:52 PM

Westinghouse begins studies for the delivery of fuel for Kozloduy NPP Unit 6

Kozloduy Nuclear Power Plant and Westinghouse Electric Company concluded a contract on the licensing of fuel for Unit 6 of the NPP, the Bulgarian Ministry of Energy has announced. The signing, which took place in Sofia, was attended by caretaker..

published on 12/20/24 2:33 PM

Westinghouse ready to complete construction of Kozloduy NPP Unit 7 within 10 years

Kozloduy Nuclear Power Plant and Westinghouse Electric Company concluded a contract on conducting a safety analysis for the licensing of an alternative nuclear fuel type for Unit 6 of the NPP. The signing was attended by caretaker Minister of..

published on 12/20/24 2:04 PM