The South Stream project that was supposed to carry gas under the Black Sea to central and southern Europe was cancelled recently by Russian President Vladimir Putin who will turn to Turkey instead of continuing the project. Despite the fact that Bulgaria will no longer be involved in the project, Bulgarian officials have declared that they support its development and that the South Stream pipeline will continue to bring benefits to the country in the form of transit fees. Bulgarian companies operating in the energy field will most likely not be influenced by this change.

According to the latest report from the World Bank, Bulgaria is one of the best places for doing business in the world. The country managed to secure a better position than other European countries, like Belgium, and even than countries like Russia, that have a very powerful market. The political environment and an efficient administrative system are just two of the key factors that make Bulgaria a good investment choice for foreign entrepreneurs.

Bulgaria is in an excellent position for growth and it offers great market conditions, said Bozhidar Danev, the Chair of the Bulgarian Industrial Association. This trend was observed starting with the first months of 2014, when Bulgaria received an increase of foreign direct investments. The head of the Bulgarian Industrial Association believes that the current state of the Bulgarian economy is improving rapidly and the government has to adapt its predictions and carefully asses its budget for 2015.