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Bulgaria – a Favorable Place to Invest

Costs of doing business in Bulgaria are about 46 percent lower than the average in the EU, said Petar Dimitrov, Minister of Economy and Energy, quoted by the Bulgarian Telegraph Agency (BTA). On March 5, he called on participants in the Bulgarian Business and Investment Forum to invest in the country, as the cheapest place to invest in the European Union.

Factors that make Bulgaria attractive for investments in times of a global economic crisis are the low labor costs and taxes. The social security burden in the country ranks fourth in the EU.

Minister Dimitrov also said that Bulgaria has sent a notification to the EC of a proposal for zero profit tax for investments over 5 million euros for a period of five years. Forecast data suggest that direct foreign investments in 2008 will reach 6 billion euros. An additional stabilizing factor that renders Bulgaria an attractive place for foreign investment is the currency board arrangement, said the Minister. (Source: BNR)

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