Bulgaria

Ivan Tihov is the Bulgarian partner of Marktmonitor ApS and a business consultant at Ivanavi. He has been an entrepreneur since 2007 and, as a marketing communications specialist, business coach and investor, has successfully navigated hundreds of companies. It is therefore fitting that his name read “Navi” backwards. Ivan Tihov is the representative of the BVMW foreign office in Bulgaria and is thus available to medium-sized companies looking to South-Eastern Europe.

The Bulgarian economy is characterized by several advantages that make it attractive for investors and companies. Bulgaria is a member of the European Union and NATO. Since 2007, Bulgaria's membership in the European Union has provided access to the European single market and the associated trade advantages. This facilitates the movement of goods and services within Europe and offers companies stability and legal certainty. Another advantage is the lowest operating costs in Europe, with 10% income tax, as well as the lowest electricity costs in the EU, enabling companies to produce cost-efficiently “Made in EU”. This is particularly advantageous for industries such as automotive, mechanical engineering, electronics, biotechnology, medical technology, mechatronics and IT. Bulgaria's strategic geographic location at the crossroads between Europe and Asia also offers companies an ideal location from which to operate in both markets. In recent years, Bulgaria has become an important location for nearshoring IT services as well as for the production of goods. The availability of qualified specialists and comparatively low operating costs make the country attractive for international companies in these sectors.