Bloomberg has ranked Bulgaria as the sixth best country for doing business in eastern Europe and central Asia
Bloomberg has ranked Bulgaria as the sixth best country for doing business in eastern Europe and central Asia. The World Bank rates Bulgaria 38th for ease of doing business. A T Kearney ranks Bulgaria as number one in Europe and ninth globally as an outsourcing destination.
Over the past 10 years the UK has been the fifth largest investor in Bulgaria.
Large British companies operating in Bulgaria, including Shell, GlaxoSmithKline, AstraZeneca, Petroceltic, Nuvia, JCB, White Young Green, Mott McDonald, IPF Provident, Dyson and William Hughes. Small and medium sized companies also successfully enter and operate in various export sectors and in offshoring/outsourcing.
Benefits for UK businesses exporting to Bulgaria include:
more than EUR 9 billion European Union (EU) funds up to 2020
English is widely spoken
good air links to the UK
gateway to the markets of Commonwealth of Independent States (CIS)
lowest corporate and income tax in the EU (10%)
tax incentives for some investment projects
Strengths of the Bulgarian market include:
signs of sustained economic recovery
skilled, multilingual labour force
low operating costs