No German Investor Satisfied with Bulgaria's Legal Security

Business | April 23, 2015, Thursday // 14:28|  views

German investors into the Bulgarian economy are not satisfied with legal security offered by the country, according to a survey of the German-Bulgarian Chamber of Commerce and Industry.

The organization has carried out a survey among 107 member companies, the chamber's head Mitko Vasilev is reported by the Bulgarian News Agency BTA as saying.

The survey whose results were unveiled Thursday shows a staggering 37 percent of entities have said they are "very dissatisfied" by the legal security in Bulgaria, while 39% have answered "rather dissatisfied".

Results place Bulgaria last in terms of legal security among states in Central and Eastern Europe, where a total of 16 chambers explored businesses' attitudes between March 2 and 3.

In fighting corruption and organized crime the country ranks third-worst, after Serbia and Bosnia-Herzegovina, according to respondents, with 43% of them answering either "very dissatisfied" or "rather dissatisfied".

Bulgaria is also the third-worst country in transparency of public procurement (38% "very dissatisfied" and 39% "rather dissatisfied") following Serbia and Slovakia.

Most entrepreneurs, however, are voicing approval of with tax burden, with a third "very satisfied" and 44 percent "satisfied", Vasilev said.

Eighty-eight percent of respondents say they would rather invest into Bulgaria again.

At the same time German investment into the country in the past year is EUR -275 M, though the chamber is ruling out out any en masse withdrawal of capitals from Bulgaria.

Tags: German-Bulgarian Chamber of Commerce and Industry, Slovakia, Bulgaria, Germany, investment, greece, Mitko Vasilev, survey, Central and Eastern Europe


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