The Bulgarian market is traditionally well receptive to well-established U.S. goods and services, as well as new and smart technologies. Bulgarian governments introduced a number of investment incentive programs, created and developed several new industrial zones and Tech parks and provided significant assistance corresponding to the level of investment. Bulgaria is known as having one of the lowest corporate taxes in the EU.
Finding a good local representative or partner is a key strategy to a successful market entry but conducting a due diligence report before selecting an agent or representative is crucial as it provides a detailed market overview and report from a trusted source. Bulgaria’s official statistics on the automotive and ICT sectors are very reliable.
For years Bulgaria has aimed to optimization its investment climate by offering investors a 10 percent flat corporate tax rate and improving the registration process for new business. The Government is recently focusing on introducing various programs on promoting hybrid and e-vehicles for personal and public cars and developing the corresponding infrastructure.
Bulgaria
Market Entry
I -- I
Around 75 percent of Bulgarian families own one or two cars; almost 80 percent of Bulgarian companies with business activities have motor pools consisting of cars, vans, minibuses, SUVs and light trucks.
The percentage of the hybrid and e-cars in the country was constantly increasing until the pandemic in 2020.
The smart mobility infrastructure is constantly developing in Bulgaria with many new tenders opened by the Ministry of Regional Development and Public Works and Ministry of Transportation, as well as local municipalities and authorities.
Demand & Trends
Aleksander Moos
U.S. Embassy - Copenhagen, Denmark
5G
There has been an increase of 30-40% in data usage by Danish consumers, just from 2018-2019. This helps create a demand for the upcoming 5G network, which is expected to be introduced across the nation in key major cities starting in 2020. Since the prices of utilizing 3G and 4G are relatively low, the local telecom companies are focusing on providing competitive prices to help consumers embrace 5G. Moreover, the Danish 5G related IoT market is expecting massive growth in the coming years, as companies and organizations within advanced manufacturing, traffic management, energy production and other sectors seek efficient ways to become more effective and productive.
Smart Cities
Smart city development is at the top of the agenda in many Danish municipalities. Danish cities plan to invest in intelligent lighting and transport systems, climate adaption, energy renovation and retrofitting, smart grid technology, and digitalization of social and health care services.
ICT Opportunities
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