/ world today news/ If you are a foreign or new company in Bulgaria and want to succeed, avoid government institutions as much as possible. This was advised by Tony Thompson, permanent representative of the World Bank for Bulgaria.
During a round table on growth and employment in Bulgaria, Thompson shared the experience learned from his stay in our country. He listed 4 rules on how you can be successful in Bulgaria if you are a foreign or new Bulgarian company that wants to invest in the Bulgarian market. First and foremost, the World Bank expert pointed out – to avoid government institutions as much as possible, regardless of whether the government is a regulator or a client. There is ample evidence of the unreliability and unpredictability of government institutions, Thompson argued.
His second recommendation is to minimize contracts with anyone. If you take a contract case to court, it’s very possible you’ll lose, the financial specialist pointed out.
“The third is to have a strategy for acquiring those skills that are needed, and many companies have problems with not having enough qualified people with the necessary skills. You need to have a clear plan on how to change the skill level of the workers,” he pointed out. Tony Thompson.
His fourth blunt recommendation is to avoid dealing with the powerhouses of the market day because they will make your life hell and drive you out of business.
The permanent representative of the World Bank in our country summarized that a reform is needed in the public administration and the contract system, because they are related to business. “Carrying out a reform in education is important in order to develop the country forward, as well as for the quality of education to be higher. A strong competition policy is also needed to overcome the monopoly position of the powerful companies of the day,” Thompson is convinced.
He added that 20% of graduates in Bulgaria leave every year and this is a great loss for the country. They don’t come back because they have more opportunities to work abroad, Thompson concluded.
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