CELIS Country Note on Bulgaria, 2023

by Iliana Boycheva

Date of Publication: 14 August 2023

Bulgaria has taken some steps to ensure compliance with the EU’s FDI Regulation. An analysis of the legislation in Bulgaria shows that there are laws that provide for screening-like elements for foreign investments/investors. However, the country is one of the two EU Member States which are lacking a comprehensive FDI screening mechanism.

Bulgaria is also among the most vulnerable states to corrosive capital inflows in Europe. The country should therefore develop an investment screening mechanism as quickly as possible, which would allow it to reinvigorate much-needed investment, while better guaranteeing its economic security. This requires an inclusive process with continuous collaboration with the private sector and learning from best international practices.