CEE Legal Matters has published an overview of the Bulgarian legal market with the views of some of the market leaders. Our partner Pavel Hristov commented on the pending concession procedure for the Sofia Airport, IT industry and its growth potential, and Bulgaria’s investment climate.

“IT is booming in Bulgaria and it has excellent potential, because the most important resource – human capital, in the form of capable engineers and developers – are here in the market.”

“The government has been running the show for ten years now and has a clear focus on EU-funds-related investments,” … we were underdeveloped in infrastructure for many years, and although it’s still not enough, we have made huge investments in roads, rails, concessions and also logistically in some of the industrial centers.”

Hristov notes that the concessions offered for the airport and recently for the ports “helps business and we can now export easier.” For him, the next step is to ensure a “consistent and uniform application of the rules.” He explains: “We have good quality laws and most are completely aligned with EU legislation. This gives an opportunity to all business from the EU to come here and feel comfortable. The next step is that we need to enforce these rules consistently. Not just in the courts, but also by enforcement bodies, municipalities, and so on.” Simply put, he says, “the state, after investing in infrastructure, needs to invest in the people to develop the capacity of enforcement – so that the investors feel more secure here.”