“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.
The spy network of Bulgarians led by Austrian Jan Marsalek in the UK had an agent in Austria , Austrian and German media reported, quoted by BGNES. The Vienna prosecutor's office is investigating a Bulgarian woman for espionage for the Russian..
According to the Bulgarian Embassy in Berlin, there is currently no information about Bulgarian citizens injured after the terrorist attack in the city of Magdeburg , in which a car rammed into a crowd at the city's Christmas market. The Embassy is in..
At the last moment, when the third expedition of Bulgaria's Antarctic research ship was supposed to leave for Antarctica in November, we received a letter that the money for the ship to return back has been redirected to grain producers. This meant that..
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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