Doing Business in Bulgaria

Four years after joining the European Union (EU), Bulgaria is on the radar screen of U.S. firms for investments and business opportunities. The country enjoys political stability, and forecasts are for slight or flat economic growth in 2011. The Bulgarian Government introduced the lowest tax rates in the region – ten per cent rate both on personal income and on corporate income, which contributed to strong foreign investment inflows. The global financial crisis has slowed investment growth somewhat, particularly in the real estate and manufacturing sectors. Bulgaria has managed to weather the global financial downturn through strict fiscal discipline. The currency peg to the Euro and fixed exchange rate are seen as an obstacle to the export of Bulgarian products, especially in the context of currency devaluation in neighboring countries. Local demand will remain low due to limited allocation of consumer loans and a 10% jobless rate. Other risks include high foreign debt and the potential for gas supply disruptions.

U.S. companies are successfully conducting business across the major industry sectors. The top foreign investor in Bulgaria is a U.S. company. EU membership will continue to result in funding for infrastructure projects, provided that the Bulgarian government procedures are efficient and transparent. Due to its geographical location, Bulgaria is an excellent launching pad for sales into the European Union, Russia, Turkey and the Middle East.

Bulgaria joined NATO in 2004 and is participating in joint operations. The general attitude in Bulgaria is pro-American and the Bulgarian market is receptive to American goods and services.

On the occasion of the Ambassadors'  Roadshow in the Unuted States in May 2011, the US Embassy and the American Chamber of Commerce has developed a guide on the business opportunities in Bulgaria for the US and international companies. It covers briefly the market challenges and opportunities, the U.S. – Bulgaria trade and investment highlights, leading sectors and some investment informations.

The full text of the document you can see here U.S. Bulgaria Business 2011