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Bulgaria

Reliable and Perspective Partner

15. June 2015, Zrich


Ministry
Ministryof
ofEconomy
Economy

Contents

Bulgaria - Macroeconomic Development


Economic Policy in Support of Investors
Bilateral Relations with Switzerland

Ministry of Economy

Bulgaria
Macroeconomic Development

Ministry of Economy

Macroeconomic indicators
Real GDP Growth
Bulgaria

Inflation (HICP)

EU-28

Bulgaria

EU-28

2.0%
0.4%

2007

2008

2009

2010

2011

2012

2013

2014

Unemployment
Bulgaria

2007 2008 2009

FDI Inflow
mln.
9,052

EU-28

10.3%

6,728

5.6%

2,437
2007

2008

2009

2010 2011 2012 2013 2014

2010

2011

2012 2013

2014

Source: InvestBulgaria Agency - Bulgarian National Bank, Eurostat, NSI

Ministry of Economy

2007

2008 2009

1,169
2010

2,118 1,320 1,383 1,306


2011 2012

2013 2014

Bulgarias Foreign Trade (2005 2013)

Ministry of Economy

FDI in Bulgaria comes mostly from EU


countries and is concentrated in four main
sectors
FDI by host country, 1996-2014 ( mln.)
7023.3

(1) Netherlands

FDI flows by industry, 1996-2014 ( mln.)


7816.6

Real Estate

5944.7

(2) Austria

7802.0

Manufacturing
3580.8

(3) Greece
(4) UK

2604.5

(5) Germany

2417.2

(6) Cyprus

2103.9

(7) Russia

1961.7

(8) Switzerland

1623.0

(9) USA

1605.4

(10) Italy

1488.7

Source: InvestBulgaria Agency, Bulgarian National Bank

Ministry of Economy

Finance

7584.7

Trade

6744.4

Energy
Construction
Telecom
Other

4197.7
2948.6
1875.7
4730.7

Bulgaria
Economic Policy in Support of Investors

Ministry of Economy

Why invest in Bulgaria?


Political and business stability

EU member

Currency board

Low budget deficit and government debt

Low cost of doing business

10% corporate tax rate (0% in high unemployment areas)

10% personal income tax

Lowest cost of labor within EU

Favorable office rents and low cost of utilities

Access to markets

European Union / EFTA

Russia

Turkey / Middle East

Educated and skilled workforce


Government incentives

Ministry of Economy

Bulgaria Geographic Location


Strategic geographic location in Southeast Europe
Offers direct access to markets like: EU, Russia, Turkey and The Middle East

EU
EF and
TA

Ru
ss
ia
CI and
S

5 Pan-European transport corridors pass through Bulgaria

Tu
Mi rkey
dd
le and
Ea
st

Ministry of Economy

Bulgaria has One of the Lowest Business Costs


in Europe
Gas prices for industrial users in Europe

Electricity prices for industrial users in Europe

/Gigajoule, 2014

/kWh, 2014

Czech Republic

Bulgaria

Bulgaria

Estonia

Poland

Germany

Austria

Turkey

Italy

Romania

EU average

Hungary
EU average

Spain
France

Czech Rep

Germany

Slovakia

Ministry
Source: Eurostat

of Economy

The Lowest Taxes in EU


Country Comparison
Country

Income Tax (%)

Social Security (%)

VAT (%)

Corporate

Individual

Employer

Employee

Bulgaria(*)

10

10

17,9-18,5

12,9

20

Serbia

15

10-20

16,9

16,9

20

Romania

16

16

28,45

16,5

24

Hungary

10/19

16

28,5

18,5

27

Czech Rep.

19

22

34

11

21

Poland

19

18/32

22,14

13,7

23

Turkey

20

15-35

27

15

18

Slovakia

23

19-25

34,8

13,4

20

UK

23

0-45

13.8

12

20

Italy

27,5

23-43

30

10

21

Spain

30

24,75-52

29,9

6,35

21

30-33
(effective)

14-45

19,7

20,6

19

33,33

5,5-41

50

20

19,60

Germany
France

Source: Worldwide-tax

Ministry of Economy

Investment Promotion.
Investment Promotion Act (IPA)

Incentives under the Investment Promotion Act (IPA) and its


Rules of Implementation;

Conducting a coordinated policy between the Bulgarian


investment agency and municipalities to promote investment;

Incentives for the development of industrial zones and hightech parks under the IPA;

Acquisition of real estate without tender at market prices


under the IPA;

Active investment marketing campaign of Bulgaria abroad;

Development of venture capital investment and guarantee


funds;

Attracting both green field and portfolio investments.

Investments must be related to the following sectors:

manufacturing,

research & development,

education,

healthcare,

high-tech services,

warehousing and logistics

Ministry of Economy

Attractive FDI sectors

Services:

Transport and Logistics

Information technologies

Outsourcing of business processes

Health and tourism related to


healthy lifestyle

Industry:

Transport equipment and machine


building

Electronics and Electrical


engineering

Chemical industry

Food and Agriculture

Resources:

Mineral water

Tourism

Balneology

Alternative energy

Ministry of Economy

National Company Industrial Zones


Overview
National Company Industrial Zones (NCIZ) is
a state-owned company specialized in:
Management of industrial parks, economic zones
and innovation centers
Development of industrial zones in line with the
latest standards
Creating favourable conditions for attracting FDI
Encouragement of investments in sectors with
high added value
Providing fast-track administrative procedures
and personal assistance to investors

Three fully developed free trade zones:


Rousse
Vidin
Svilengrad

Five zones under development:


Sofia Bozhurishte Economic Zone
Industrial & Logistics Park - Burgas
Industrial Zone Karlovo
Industrial Zone Telish /Pleven/
Industrial Zone Varna West

Ministry of Economy

A total of 8 projects:

6 584 500 m total area

842 580 m built-up area

225 500 m open warehouses

National Company Industrial Zones


Opportunities for Foreign Companies
R&D centers
ICT Hardware manufacturing
Software Engineering

Industrial machinery
Transport equipment
Agricultural machinery
Electrical appliances
Electronic products development

Source: A.T.Kearney analysis

Ministry of Economy

and manufacturing
Original equipment
manufacturers (OEM)
Logistics hub for the European Union,
Russia and Turkey
Transport services for local and
international manufacturers
Tailored services for companies
producing in the zone
Page 5

Leading global investors have chosen Bulgaria


IT development

Back office
operations

Ministry of Economy

Chemical and
metal Industry

Engineering

Food

Bilateral Relations
Bulgaria-Switzerland

Ministry of Economy

Bulgaria and Switzerland Further opportunities.


Trade. Swiss Investments in Bulgaria

Some reasons why companies choose


Bulgaria:

Opportunities for future investments in


Bulgaria:

Ministry of Economy

Bulgaria has some of the lowest business costs


in Europe
Skilled labor force, available at Europe's most
competitive salary levels
Low operational costs
Macroeconomic and financial stability
Stable political environment & low country risk

Electrical engineering and automobile parts


R&D; Information Technologies
Transport infrastructure and logistics
Opportunities in Bulgarian industrial zones
(e.g. Sofia-Bozhurishte Economic Zone)
Cooperation in the field of S&T parks in
Bulgaria (e.g. Sofia Tech Park)

THANK YOU FOR YOUR ATTENTION!

Ministry of Economy
8, Slavyanska Str., 1052 Sofia
www.mi.government.bg
Ministry of Economy