Legal security, corruption undermine Bulgaria business environment

Four in five German firms would still invest in Bulgaria, according to a survey by the German-Bulgarian Chamber of Commerce and Industry, which highlighted legal security, political stability and corruption as the main negative factors affecting the business environment in the country.

A total of 99 members of the chamber took part in the survey, as part of a larger study that covered 1435 German companies operating in 16 Central and Eastern European (CEE) countries.

Although 82 per cent of respondents in the Bulgarian survey said that they would invest again in Bulgaria if they had to make the decision now (just under the 83 per cent average for the region), many companies were critical of Bulgaria’s economic environment – 43 per cent said that it was poor, with 47 per cent describing it as “satisfactory” and only 10 per cent saying that Bulgaria’s economic environment was good.

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(Bulgarian Prime Minister Plamen Oresharski at a meeting with German-Bulgarian Chamber of Commerce and Industry members in February 2014. Photo: GBCCI)