We will continue our previous two posts:
Last of all comes the enforcing contracts indicator which is calculated over the three sub-indicators: the number of procedures to enforce a contract /steps to file the case, steps for trial and judgment and steps to enforce the judgment/; the time required to complete procedures and the cost required. The more efficient the contract enforcement is, the greater access firms have and are more likely to engage with new borrowers or customers. This indicator also shows the effectiveness of the judicial system in the different countries and therefore it is a crucial factor of the decision making process of the perspective investors. The results of the report demonstrate that in Bulgaria the time and cost required for enforcing a contract are less than in most of the other countries which places Bulgaria in front of Cyprus, Italy and other countries from the ranking.
The overall results from the World Bank’s annual report rank Bulgaria 51st among 183 countries from all the continents. Despite being considered as a developing country, Bulgaria is standing higher in the ranking table than Poland, Czech Republic and Italy and it is only few places after Spain, Austria and Hungary. The indicators discussed in this report, together with the unarguable advantages of Bulgaria as a top investment destination, like the lowest tax rates, the strategic map location, the highly qualified and educated personnel, the numerous unexplored investment opportunities and the stability of the economic and political environment, make the investment interest towards Bulgaria constantly and steadily grow.
