Doing Business in Bulgaria

Syllabus of the Subject - Doing Business in Bulgaria. Sofia.

1. Introduction to the Republic of Bulgaria (European Union)
2. Economy of Bulgaria: The metallurgical sector is one of the pillars of Bulgaria
3. Doing Business in Sofia
4. Bulgarian Foreign Trade
5. Foreign Direct Investment (FDI) in Bulgaria
6. Main Bulgarian Companies
7. Access to the Bulgarian Market
8. Business Plan for Bulgaria

The objectives of the subject “Doing Business in Bulgaria” are the following:

1. To analyse the Bulgarian Economy and Foreign Trade
2. To evaluate the business opportunities in the Bulgarian Market
3. To analyse the trade relations of Bulgaria with the country of the student
4. To know the Bulgaria's free trade agreements as a member of the European Union
5. To develop a business plan for the Bulgarian Market

Description of the Subject (Online Learning): Doing Business in Bulgaria

The Republic of Bulgaria (Europe)

1. Capital: Sofia
2. Official Language: Bulgarian
3. Area: 110,879 square kilometres
4. Bulgarian Population: 7.3 millions of people
5. Type of Government: Parliamentary Republic
6. Borders of Bulgaria: Romania, Serbia, Macedonia, Greece and Turkey
7. Independence of Bulgaria: 1908 (Ottoman Empire), 1991 (Soviet Union)

Religion in Bulgaria: Orthodox Church (Christianity)

Bulgaria belongs to the Orthodox Civilisation (European Economic Area)

Economy of Bulgaria.

1. The Republic of Bulgaria is an economy of free market, and a median-upper income economy (World Bank)
2. Bulgarian GDP (nominal): 51,030 millions of dollars
   1. Agriculture: 5%
   2. Industry: 31%
   3. Services: 63%
3. GDP per capita: 12,800 dollars
4. Bulgarian Currency: Lev
5. Top raw materials: Copper (the third European producer), iron, coal, gold, bismuth, zinc
6. The Bulgarian metallurgical sector is vital for the Bulgarian Economy
7. Main Bulgarian products: electronic devices, fuels, building materials, car components, weapons
8. Corruption is very latent in Bulgaria
9. Bulgaria joined the European Union in 2007
10. Top Bulgarian Companies: BDZ, Bulgarian Air, Corecom, Madara, Payner Music, National Television of Bulgaria

Bulgarian Foreign Trade.

1. Main Bulgarian Exports are footwear, clothes, steel, iron, fuels, and machinery
2. Top Bulgarian Export Markets are Germany (12%), Romania, Italy, Turkey, Greece
3. Main Bulgarian Imports are fuels, raw materials, machinery, metals, chemical products and plastics
4. Top suppliers of Bulgaria are Russia (17%), Germany, Italy, Romania, Greece
5. As a member of the European Union, Bulgaria is the beneficiary of the EU Free trade agreements

International Economic Relations of Bulgaria

1. Free Trade Agreement between Bulgaria-Bosnia and Herzegovina
2. Organisation of the Black Sea Economic Cooperation
3. Central European Initiative (CEI)
4. Regional Cooperation Council
5. International Chamber of Commerce
6. World Bank
7. Economic Commission for Europe (UNECE)
8. European Union
9. World Trade Organisation
10. International Monetary Fund (IMF)
11. Group of States of the Council of Europe Convention against the corruption (GRECO)
12. United Nations
13. Organisation for Security and Cooperation in Europe (OSCE)
14. Organisation for Economic Cooperation and Development (OECD)

Examples of the subject - Foreign Trade and Business in Bulgaria:

(c) EENI- Business School & Hispano-African University of International Business