Bulgarie

This review assesses the climate for domestic and foreign investment in Bulgaria and discusses the challenges and opportunities faced by the government of Bulgaria in its reform efforts. Capitalising on the OECD Policy Framework for Investment, the review includes chapters on trends in foreign investment and their socio-economic benefits, foreign investor entry and operations, the legal and institutional framework for investment protection, investment promotion and facilitation, public governance, and policies to promote and enable responsible business conduct. The review then highlights potential reform priorities to help Bulgaria fulfil development ambitions that align with its commitment to comply with the principles of openness, transparency and non-discrimination as a new Adherent to the OECD Declaration on International Investment and Multinational Enterprises.

Bulgaria has made solid progress in its territorial governance and socio-economic development. Yet, it has not been able to counteract large and increasing territorial disparities. Doing so will require addressing remaining structural challenges that may be limiting further transformation, government performance and regional resilience. It will also depend on shifting from a centrally-designed approach to regional development policy to one that incorporates subnational input and carefully considers regional specificities. Such a shift, coupled with a revitalised multi-level governance model to strengthen regional and municipal governance, could generate more balanced regional development and inclusive growth in Bulgaria. This multi-level governance study considers the avenues Bulgarian national and subnational authorities could take to ensure more place-based regional development and governance. It emphasises a comprehensive, yet incremental, approach to decentralisation and regionalisation reforms to generate more effective and balanced regional development.