“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.
Increased traffic is expected on the country's roads during the weekend . During peak hours, 1,500 cars per hour will pass on the highways. A special traffic organization has been introduced on the Hemus highway. Traffic for heavy trucks through..
In the presence of diplomats, Bulgarian Foreign Minister Ivan Kondov unveiled in Plovdiv the latest mural from the ministry's competition "Bulgaria - More Beautiful in NATO". The event is dedicated to the 20th anniversary of the country's membership in..
On Saturday, a cold front will sweep across the country. During the night there will be rain in Western and Central Bulgaria, and snow in the mountains and on higher ground. A snow cover will form. Minimum temperatures 1-6° C., for Sofia around 1°..
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...
+359 2 9336 661