Ambassador of the Republic of Bulgaria Highlighted Emerging Trade & Investment Opportunities in Bulgaria at an Exclusive Interactive Session
News Desk, News Nation 360 : After launching a series of ambitious projects in some of the states of India, Bulgaria, the scenic gateway to Europe, is now exploring business opportunities in the Eastern India region as well as the whole country - addressed Eleonora Dimitrova at an exclusive interactive session with the state’s leading industrialists, organized by the Indian Chamber of Commerce. Low tax rates and inexpensive labour force are indeed two key factors to woo industrialists. Bulgaria has a tax rate of 10 per cent for both corporate and personal income tax, which is the lowest in the EU and the general VAT is 20%. The country has over 40 trade agreements with 80 countries with access to 1.3 bn customers worldwide. According to the latest World Bank report Bulgaria’s economy is expected to grow by 2.6% in 2021 and 3.3% in 2022, which raises optimism for a proliferation of business in the country. Some renowned Indian companies that are prevalent in trade operations in Bulgaria are Coca-Cola, TCS, IBM, HCL Technologies etc.
Eleonora Dimitrova, the first woman ambassador of the Republic of Bulgaria hopes to expand Bulgaria’s significant footprint in the education sector along with industrial sectors of Electrical engineering, Automotive and IT sectors. There are similar advantages for students, said the ambassador, as Bulgarian degrees are recognised across Europe for both internships and jobs. The country offers various educational degrees for Indian students, among which medicine and IT hold great importance. The country expects to re-issue the student VISA soon as India has finally withdrawn the red-zoned country list, as decided during the peak of the COVID pandemic.
Pic : Krishnendu Kundu
Report : Anustup Kundu