Investment opportunities in Bulgaria are numerous. To know about them in detail we suggest you to have a look at our guide “Investire in Bulgaria 2014”, guida-web-2014
Here you find the description of key sectors of Bulgaria economy.
Source: INVESTBULGARIA AGENCY
Food and Agriculture
Bulgaria provides an end-to-end solution to developing the Food&Agri sector
- Unique natural conditions for the cultivation of a wide variety of crops, fruits, and vegetables
- 50% of the country’s territory is farming land
- Ecologically clean and fertile soils
- Very high quality of organic products (ban on GMOs)
- Established local producers and a strong tradition in the sector
- Long-standing distribution channels in the former Eastern Bloc
- The EU acquis on food has been transposed into Bulgarian legislation
- Very high health and environmental protection standards make Bulgarian food products fully prepared to meet even the highest and most complex consumer requirements
- Major foreign investments by multinational companies account for a large – even dominant – market share in several key sectors such as confectionery, dairy products, and food & beverage
- The growing demand for new and local food and beverages in Western Europe and beyond will boost the demand for traditional Bulgarian products
A well-established infrastructure available
- Direct access to the fastest-growing and largest market in Europe: over 122 million people
- Strategically located to provide routes to Europe, Russia, CIS, the Middle East, and North Africa
- 5 Pan-European corridors cross the country, linking Northern Europe with the Middle East and North Africa
- Expected accession to the Schengen Area in 2012
- Fifty industrial zones and logistics centres
- Bulgaria has a well developed and constantly improving infrastructure: 6 highways, 230 railway stations, 5 international airports, 7 ports on the Danube , and 6 seaports on the Black Sea
- The logistics network is better developed than most Balkan countries
- 68 bilateral agreements on avoidance of double taxation
Highly qualified and affordable human resources
- A well-developed educational network of colleges, universities, and high schools
- A number of public and private research&analysis centres, more than 10 000 researchers
- Workforce available throughout the country at some of the most competitive prices in Europe
- Bulgarian research institutes and universities work together with companies in the sector to create a skilled workforce
Specialized government incentives and EU funding
- The Rural Development Operational Programme has the largest budget in Bulgaria: €3.279 billion (EU: €2.642 billion.; national co-financing: €637 million)
- The Programme has the highest level of fund absorption in the country: around 20%
- In 2011, the Bulgarian agricultural sector will receive over €562 million in direct financing under the operational programmes, which means a 10% increase over the previous year
- At present there are 15 active financing schemes covering various industry sub-sectors which are at farmers’ disposal
Strong traditions in the IT sector:
- The Atanasov–Berry Computer (ABC) was the world’s first electronic digital computer. Its inventor John Atanasov, was of Bulgarian descent. The machine was not programmable, but solved systems of linear equations and employed parallel computation
- Bulgaria was the largest manufacturer of PCs within the CMEA, its biggest market being the former USSR
The Annual Broadband Study by Cisco (2010) ranked Bulgaria 5th in the world and 3rd in Europe in terms of internet speed. It also placed the country 3rd in Europe and 10th worldwide regarding the absolute number of certified ICT professionals.
Bulgaria offers qualified human resources working on world-level projects and at competitive salaries.
The country has strong NGOs in the sector.
IT is traditionally an export-oriented sector.
Bulgaria is well prepared for becoming a regional hub because it hosts a number of world and local IT leaders, like SAP, VMware, Johnson Controls, CISCO, HP, Telerik, Musala Soft, Melon Inc. Etc
Business Process Outsourcing
Bulgaria offers qualified and cost-effective workforce and advantageous rents of commercial space and very competitive overall costs of doing business.
According to the A. T. Kearney Global Services Location Index™, 2010, Bulgaria remains among the winners in outsourcing in Europe together with Romania, both countries occupying the 17th and 25th places, respectively. Although it is a member of the European Union the country offers lower cost profile than most other member states.
The Annual Broadband Study by Cisco in 2010 ranks Bulgaria 5th in the world and 3rd in Europe in terms of internet speed.
Bulgaria prides itself on the system of foreign language secondary schools where after a year of intensive study of a foreign language the students switch to studying main subjects in the respective foreign language.
98% of the students enrolled in secondary schools in Bulgaria study a foreign language, 73% study at least two foreign languages.
60 500 students graduate from 53 universities and colleges. 50% of them are potentially suitable for employment within the BPO industry.
Office rents in Sofia are the lowest in the region and are likely to remain low due to oversupply of office space.
Attrition rate in BPO centers in Bulgaria is several times lower than that in the rest of Europe and India.
Healthcare and Medical Tourism
- Excellent geographical, climatic and environmental conditions
- The unique combination of seaside, mountains and mineral water makes Bulgaria a suitable place for health promotion throughout the year
- Long-standing tradition in balneology and spa tourism
- Refurbished world-class medical and rehabilitation centres and hotels
- Highly qualified and experienced healthcare staff
- Relatively low cost of medical services
- Well-developed network of private cosmetic surgery and dental clinics
- Bulgaria ranks second in Europe after Iceland in the number the mineral springs, providing all types of mineral water existing in nature
- Bulgaria is an attractive destination for treatment, prophylaxis and recreation
- With moderate climate with four seasons and significant Mediterranean influence