Bulgaria ranks among top countries in providing favorable environment for starting businesses

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Bulgaria ranks among top countries in providing favorable environment for starting businesses—WB Report

[05/10/2024 05:45]

SOFIA-SABA
The World Bank (WB) Thursday released its Business Ready annual ranking, based on its updated survey of business conditions in 50 countries around the world.

Bulgarian News Agency (BTA) reported that Business Ready 2024 is structured around three key pillars that reflect the opportunities for doing business in a country - Regulatory Framework (Pillar I), Public Services (Pillar II) and Operational Efficiency (Pillar III).

In the first pillar, Bulgaria is rated with 76.33 points, which puts the country among the leaders in this indicator, ranking 6th, according to the World Bank report.

In the second pillar, Bulgaria scored 64.03 points on this indicator, which puts it just behind the top 10 countries, ranked 11th.

For the third pillar, Bulgaria scored 70.49 points on this indicator, placing it among the top 8 countries listed.

Bulgaria's economy profile reads that the country "allows business entry for domestic and foreign firms with minimal restrictions, provides transparent information (connection requirements, tariffs, complaint mechanisms,) for water and electricity, and does not have many restrictions on digital trade". Bulgaria scores highest in Business Entry, Utility Services, and International Trade, according to BTA.