WB says Bulgaria ranks well in restrictions on foreign equity ownership.

By bne IntelliNews July 8, 2010
Bulgaria has fewer restrictions on foreign equity ownership in all economic sectors but transportations as compared to other countries in Eastern Europe and Central Asia, according to a newly issued report of the World Bank Investing Across Borders comparing regulation of foreign direct investment in total of 87 countries around the world. The WB notes that Bulgarian legislation has been harmonized with the EU one over the past years and many sectors of the economy have been opened to foreign capital participation. The country ranks well also in terms of starting a foreign business as it takes 20 days to do it, as compared to 22 days on average regionally and 42 days globally. The number of procedures in Bulgaria is 5 against an average 8 in the region and 10 globally. The WB stated that the leasing of public land in Sofia is slow and purchases are time-consuming. The access to the land information index in the country is also low both in regional and global perspective. In terms of arbitrating commercial disputes, the country ranks rather well in terms of strength of law index (93.1 as compared to 82.5 on average for the region and 85.2 globally) but the ease of process index is low.

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