NEWS

The President and German Investors in Bulgaria Discussed the Prospects for and the Challenges to Doing Business in Bulgaria

President Rumen Radev discussed with representatives of leading German companies doing business in Bulgaria, the prospects and challenges foreign investors in Bulgaria are facing. The meeting was held at 2 Dondukov street and member-companies of the German-Bulgarian Chamber of Commerce and Industry took part in it.

Germany is Bulgaria’s strategic partner and we highly appreciate the efforts made by institutions and the business to expand the bilateral economic relations, Rumen Radev said. In the President’s words, the Bulgarian state administration should improve its work on attracting and keeping investors in Bulgaria. “This will contribute not only to the country's economic development, but will also create positive public and institutional models,” Rumen Radev said.

In the President’s words, pursuing an adequate policy when introducing e-governance and services opens up an opportunity to increase this country’s competitiveness. The President and the business representatives discussed the possible measures needed to bring back to Bulgaria the young Bulgarians who took their university degree abroad as well to keep the highly qualified work force on Bulgaria’s labor market.

The representatives of the German-Bulgarian Chamber of Commerce and Industry expect that the bi-lateral trade in 2017 will show yet another record high. Last year Bulgarian exports to Germany showed a more dynamic development compared to the imports from Germany. The German companies called for a stable legislative framework and stressed the shortage of workforce that meets the qualification demands of business. They also highlighted the lack of a long-term economic and political vision as the major challenge for investors, and this hampers their expansion on the Bulgarian market. A lot of the representatives of the small and medium business encounter many administrative obstacles which increases the risk of corruption, it further transpired during the meeting.