German Investors Disappointed by Bulgaria's Corruption, Judiciary

Business | April 20, 2016, Wednesday // 17:16|  views

A file photo of the Sofia Courthouse building. German investors who took part in the annual poll raised concerns over the judiciary's efficiency, corruption levels, and qualification of the workforce. BGNES

High levels of corruption, the unpredictable judicial system, and low professional and academic qualification of the workforce are the three factors in Bulgaria that investors find most disappointing, a recent annual poll shows.

The German-Bulgarian Industry and Commerce Chamber, which carried out the survey among its members (mainly German businesses), is an organization aimed at connecting German investors to Bulgarian partners and looking for business opportunities.

Results of the poll, quoted by news website, include 16 countries in Central and Eastern Europe.

They reveal that Bulgaria scores ranks best in terms of tax burden and tax system, but lags behind in the efficiency of the judicial system.

In legal security, the country is 14th, followed only by Albania and Bosnia-Herzegovina.

As regards fighting corruption and crime, it comes 15th, ahead of Kosovo.

In efficiency of the public administration Bulgaria ranks 11th.

It also has the worst result in transparency of public procurement, according to Dnevnik.

Similar results can be seen in the quality of professional (16th) and academic (15th) education, alongside availability of specialized workforce (also 15th).

Political stability has improved compared to the 2015 poll, with Bulgaria ranking 10th, up from its previous 14th spot.

Asked whether they would invest again in Bulgaria, 84% say they would.

Respondents are divided over the economic environment (which 57% describe as "stable"), the future of their businesses (53% having described it as positive), and 42% arguing their exports will increase this year.

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Tags: German-Bulgarian Industry and Commerce Chamber, Germany, Bulgaria, businesses, investors, Bosnia-Herzegovina, Albania, kosovo


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