Romania is positioned as a strategic investment destination due to its large and growing domestic market, competitive costs, and strategic location between East and West. It has a highly skilled yet affordable workforce, with many students studying STEM fields. Infrastructure has greatly improved, with developed industrial parks and international airports connecting Romania to major markets. The government offers incentives like tax exemptions and deductions to attract investment.
Bulgaria has experienced consistent economic growth and a quick recovery from the financial crisis. Foreign direct investment in Bulgaria has grown significantly over the last decade and comes mostly from EU countries, focusing on telecommunications, energy, construction, trade, and manufacturing. Bulgaria provides a stable political and economic environment for investment, with EU membership, a currency board, low taxes and business costs, and a skilled workforce. The government supports investors through incentives and its investment promotion agency.
This document provides information about investing in Bulgaria. It summarizes Bulgaria's key statistics, competitive advantages for business, and sectors for investment opportunities. The main points are:
- Bulgaria has a population of 7.4 million people and its capital and largest city is Sofia. It has a stable economy and is a member of the EU, NATO, and WTO.
- Bulgaria offers many benefits for investors including low taxes, low operating costs, EU market access, skilled labor, and government incentives like tax benefits and workforce training programs. Popular sectors for investment include IT, electronics, machinery, food/beverage, and business process outsourcing.
- The document outlines Bulgaria's macroeconomic indicators, foreign
Romania has become a strategic partner for ICT investments due to its high-quality yet cost-effective IT talent pool. The ICT sector in Romania is growing rapidly and is forecast to reach €4 billion by 2020. Romania produces over 7,000 IT graduates annually and has specialized tech hubs in cities like Bucharest, Cluj, Timisoara, and Iasi. Software development costs are significantly lower in Romania compared to Western European countries, making it an attractive location for outsourcing. The government also offers incentives for ICT investments including tax exemptions.
[GPATS 2013] Ivo Ivanovski - Master Presentation of MacedoniaAssespro Nacional
The document promotes investment in Macedonia by highlighting several competitive advantages: an excellent location with transportation infrastructure; a competitive and educated workforce; low taxes and incentives; and a business-friendly government. It provides details on Macedonia's strategic location in Southeast Europe, its transportation network, political and economic stability, and workforce. Overall, the document aims to convince investors of Macedonia's strengths as an investment destination.
The document discusses Serbia's improved business environment and opportunities for investors. It notes that Serbia has a stable pro-EU government and has started EU membership negotiations. The government's goals include developing new labor and bankruptcy laws. Serbia offers a strategic location, low corporate tax rates, and financial support for investors. Advantages of investing in Serbia include duty-free export access to large markets and an educated, cost-effective workforce. By the end of 2015, Serbia plans to privatize almost 600 state-owned firms.
The document promotes Macedonia as an investment destination, highlighting its competitive advantages such as low taxes, skilled workforce, and pro-business policies. It describes Macedonia's strategic location, infrastructure, political and economic stability. Several sectors are identified as prime opportunities for foreign investment, including automotive, ICT, healthcare, agriculture, and energy. The document also outlines the country's investment incentives such as tax benefits available in Technological Industrial Development Zones.
This is a comprehensive analysis of the IT sector in Ukraine. It is an integrated guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian IT. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
Tax system and Investment climate in Albania, 2016ALTAX Consulting
This document is prepared by the experts of the AL-TAX, in a series of thematic collections, with the aim to become a source of discussion for those who are interested, or have inseparable connection with taxation in the implementation of their practices. Tax system and Investment Climate in Albania, 2016 aim to provide information to those considering investing or doing business internationally.
This is the fourth edition.
We've been very carefully to ensure that the information presented in this publication is correct and reflects the situation as of January 2016. The goal of the third edition of this collection is to provide general guidelines on investment and business in Albania and to compare them with the tax rules.
For further information on matters discussed in this publication please contact Eduart Gjokutaj, Tax adviser in AL Tax Center.
Bulgaria has experienced consistent economic growth and a quick recovery from the financial crisis. Foreign direct investment in Bulgaria has grown significantly over the last decade and comes mostly from EU countries, focusing on telecommunications, energy, construction, trade, and manufacturing. Bulgaria provides a stable political and economic environment for investment, with EU membership, a currency board, low taxes and business costs, and a skilled workforce. The government supports investors through incentives and its investment promotion agency.
This document provides information about investing in Bulgaria. It summarizes Bulgaria's key statistics, competitive advantages for business, and sectors for investment opportunities. The main points are:
- Bulgaria has a population of 7.4 million people and its capital and largest city is Sofia. It has a stable economy and is a member of the EU, NATO, and WTO.
- Bulgaria offers many benefits for investors including low taxes, low operating costs, EU market access, skilled labor, and government incentives like tax benefits and workforce training programs. Popular sectors for investment include IT, electronics, machinery, food/beverage, and business process outsourcing.
- The document outlines Bulgaria's macroeconomic indicators, foreign
Romania has become a strategic partner for ICT investments due to its high-quality yet cost-effective IT talent pool. The ICT sector in Romania is growing rapidly and is forecast to reach €4 billion by 2020. Romania produces over 7,000 IT graduates annually and has specialized tech hubs in cities like Bucharest, Cluj, Timisoara, and Iasi. Software development costs are significantly lower in Romania compared to Western European countries, making it an attractive location for outsourcing. The government also offers incentives for ICT investments including tax exemptions.
[GPATS 2013] Ivo Ivanovski - Master Presentation of MacedoniaAssespro Nacional
The document promotes investment in Macedonia by highlighting several competitive advantages: an excellent location with transportation infrastructure; a competitive and educated workforce; low taxes and incentives; and a business-friendly government. It provides details on Macedonia's strategic location in Southeast Europe, its transportation network, political and economic stability, and workforce. Overall, the document aims to convince investors of Macedonia's strengths as an investment destination.
The document discusses Serbia's improved business environment and opportunities for investors. It notes that Serbia has a stable pro-EU government and has started EU membership negotiations. The government's goals include developing new labor and bankruptcy laws. Serbia offers a strategic location, low corporate tax rates, and financial support for investors. Advantages of investing in Serbia include duty-free export access to large markets and an educated, cost-effective workforce. By the end of 2015, Serbia plans to privatize almost 600 state-owned firms.
The document promotes Macedonia as an investment destination, highlighting its competitive advantages such as low taxes, skilled workforce, and pro-business policies. It describes Macedonia's strategic location, infrastructure, political and economic stability. Several sectors are identified as prime opportunities for foreign investment, including automotive, ICT, healthcare, agriculture, and energy. The document also outlines the country's investment incentives such as tax benefits available in Technological Industrial Development Zones.
This is a comprehensive analysis of the IT sector in Ukraine. It is an integrated guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian IT. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
Tax system and Investment climate in Albania, 2016ALTAX Consulting
This document is prepared by the experts of the AL-TAX, in a series of thematic collections, with the aim to become a source of discussion for those who are interested, or have inseparable connection with taxation in the implementation of their practices. Tax system and Investment Climate in Albania, 2016 aim to provide information to those considering investing or doing business internationally.
This is the fourth edition.
We've been very carefully to ensure that the information presented in this publication is correct and reflects the situation as of January 2016. The goal of the third edition of this collection is to provide general guidelines on investment and business in Albania and to compare them with the tax rules.
For further information on matters discussed in this publication please contact Eduart Gjokutaj, Tax adviser in AL Tax Center.
Doing business in Estonia, Estonian Chamber of Commerce and Industry, Margus ...Prizztech
The Estonian Chamber of Commerce and Industry was founded in 1925 to represent business interests and reestablished in 1989. Its mission is to develop entrepreneurship through economic policy participation and business services. Membership has grown steadily over time to over 3,600 members currently. The Chamber analyzes legislation and provides various services to support businesses. Estonia has a simple tax system and high credit ratings that encourage business. It ranks highly in measures of ease of doing business and has attracted large foreign investment through its stable and pro-business environment.
Outsourcing in CEE. Country Overview. BulgariaHI-TECH_Org_Ua
Bulgaria provides several advantages for outsourcing:
- Highly skilled, multilingual workforce at competitive salary levels
- Stable business environment with low taxes and EU membership
- Major outsourcing sectors include IT, customer service, finance/accounting, engineering
- Leading outsourcing countries partnering with Bulgaria include Germany, France, UK, USA
This document provides an overview of the Serbian market, including its EU membership negotiations, attractiveness for foreign direct investment, trade agreements, tax rates, export opportunities, leading foreign investors such as FIAT and Coca-Cola, growing trade with Italy represented by vehicles and raw materials, and the privatization process in Serbia in which several Italian companies have invested in sectors like pharmaceuticals, textiles, and sugar processing.
Invest in Ukraine: Transport InfrastructureOfficeNIC
This is a comprehensive analysis of the transport infrastructure sector in Ukraine. It is an integrated guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian transport infrastructure. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
This is a comprehensive analysis of the agriculture sector in Ukraine. It is a sectoral guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian agriculture. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
The document discusses virtual permanent establishment and country-by-country reporting in relation to electronic commerce and the digital economy. It notes that e-commerce is growing rapidly in Africa but current definitions of permanent establishment and reporting thresholds do not adequately address the tax challenges of the digital world. The document proposes using a virtual permanent establishment approach and lowering reporting thresholds to enhance taxation and monitoring of multinational enterprises' activities in Africa. Further research on blockchain and profit allocation is also suggested.
EU policy to attract highly skilled workers: status of implementatino of Blu...Marco Mazzeschi
The document provides an overview of the EU Blue Card Directive which aims to attract highly skilled workers from abroad. It discusses the requirements to obtain a Blue Card, the EU Commission's proposed changes to increase usage, and summarizes the status of implementation in various EU countries. Key points include: the Blue Card has had limited success with only a few thousand issued annually; Germany issues the most but usage is still low in other countries; salary and qualification requirements vary by country; validation of foreign credentials can cause delays.
This document provides an overview and summary of the 2015 OECD Economic Survey of Ireland. It finds that while Ireland has recovered strongly from the crisis through reforms and growth, challenges remain around reducing high household debt levels, lowering the high rate of non-performing loans, and making growth more inclusive through measures such as improving access to affordable childcare and reducing disincentives for low-income families to work. The survey also recommends that Ireland can boost productivity growth further through intensifying competition in certain sectors, expanding support for research and development, and ensuring skills training programs are demand-driven.
This is a comprehensive analysis of the gas upstream sector in Ukraine. It is a sectoral guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian gas extraction. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
This document discusses growth capital strategies and valuation multiples for private companies. It states that transaction multiples for deals over $25 million with a validated 5-10X growth plan typically range from 4 to 12X EBITDA and 1 to 5X revenue. Multiples vary based on factors like revenue, margins, assets, and market opportunity. While historically only large companies and startups received growth capital, new sources are now available to help small and medium businesses scale up, creating wealth opportunities for founders.
Slovenia 2017 OECD Economic Survey Boosting investment through better skills ...OECD, Economics Department
The OECD Economic Survey of Slovenia 2017 document makes the following key points in 3 sentences:
The Slovenian economy is rebounding from a long recession, but further investment is needed to boost productivity through improving skills development and reducing regulatory burdens. Unemployment is declining but long-term joblessness remains high, and the country faces fiscal challenges from an aging population that threaten debt sustainability if not addressed. The survey makes recommendations in areas like education, the labor market, state-owned enterprises, and regulation to support higher growth and living standards in Slovenia.
Executive summary
• A 534 ha Free Economic Zone situated in Kaunas, Lithuania, known as FEZ.
• Lithuania is a member of the European Union (EU) as well as a member of the Schengen area. (This
permits passport-free travel throughout the 26 countries of the Schengen area).
• Stable currency; since 2002, 3.45 Litas = €1. As from 1st January 2015, Euro replaces national currency.
• Businesses established within FEZ are totally tax-free for six years; for the next ten years, 50% reduction in
the rate of Corporation Tax. As the Lithuanian rate of Corporation Tax at present is 15%, the effective tax
rate for the first sixteen years of operation is 4.69%.
• Highly educated labour force.
• According to the World Bank, Lithuania is the seventeenth country in the world for “ease of doing
business”.
• Ability to obtain 1, 2, 3 year “temporary residence permits”, depending on individual circumstances.
• Ability to obtain Lithuanian citizenship after ten years of residence.
• Land is subleased for a term of 99 years. Pursuant to the Land Law of Lithuania, if the sublessee has
erected buildings on the land then, after the end of 99 years, the sublease will be extended until the end
of the economic life of the buildings erected on the land. The life of the building can be further extended
by continued improvements.
Findings: 2020 Annual Pay Survey of manufacturing companies in Western Ukraine
In September 2020 Lviv Consulting Group conducted an annual pay survey of manufacturing companies operational in Western Ukraine.
The document summarizes the 2019 OECD Economic Survey of Portugal. It finds that while Portugal's economic recovery is well established, further improvements are needed to raise living standards. It provides several key policy recommendations to strengthen fiscal sustainability, improve financial stability, boost export performance, enhance judicial efficiency, increase labor utilization, and further reduce poverty.
What defines us is our desire to be the best. Since 2008 we have been ranked among the top 5 fastest growing economies in the EU, and going forward we are forecast to continue to rise above the EU average. Added to this, our can-do-approach has enabled us to jump eleven places since 2013 for the ease of starting a business to 11th place globally in the World Bank’s Doing Business Report.
Ferrovial Investors Presentation Jan Mar 2014 | Presentación Inversores Ene M...Ferrovial
Ferrovial reported its results for the first quarter of 2014. Revenue declined 5.3% to €91 million due to lower traffic volumes, while EBITDA fell slightly to €55 million. The company highlighted growth in traffic and revenues at its 407ETR toll road in Canada and stable performance at its services division. Ferrovial also noted a strong backlog of €25.6 billion for its construction and services businesses. Looking ahead, Ferrovial expects continued recovery in toll road traffic in Europe and revenue growth from expansion into new international markets.
Critical Analysis on Export of Services By Category (Pakistan)Qasim Raza
This document analyzes Pakistan's exports of services by category from 2007-2008 to 2011-2012. It presents data on transportation, travel, communication, financial, government, computer/information, and insurance services in tables and pie charts. Transportation services exports peaked at $1,648 million in 2010-2011 while government services exports were highest at $2,535 million in 2009-2010. Line charts show trends over time for each category. The analysis finds that government services declined likely due to WTO restrictions while transportation grew. Overall, exports were positively impacted by transportation and travel but faced challenges from political instability, currency issues, and brain drain.
Bulgaria provides several advantages for outsourcing including a highly skilled, multilingual workforce, low costs, and a stable business environment. Bulgaria ranks highly in studies for financial attractiveness and availability of skills. Major outsourcing sectors include IT, finance, customer care, and engineering. Bulgaria has a large number of graduates in technical fields each year and provides services in many languages. Several cities like Sofia, Plovdiv and Varna provide attractive office space and a skilled workforce for outsourcing.
This document provides an overview of Romania and its business service sector, including IT, SSC, and BPO. Some key points:
- Romania has a population of 19.3 million and its capital and largest city is Bucharest. Major industries include IT/technology and outsourcing services.
- The business service sector employs over 131,000 people and has revenues of €4.5 billion, focusing on industries like banking, telecom, and professional services.
- Romania provides a skilled, English-speaking workforce at competitive costs for business services. Cities like Bucharest, Cluj-Napoca, Timisoara, and Iasi are major centers for the sector.
Business Climate and Investment Opportunities in the Republic of MacedoniaJsurna
This document provides an overview of investment opportunities and incentives for foreign investors in Macedonia. It highlights Macedonia's strategic location, low taxes, competitive costs, educated workforce, and political/economic stability. Specific opportunities mentioned include manufacturing sectors like automotive components, ICT, medical devices, agribusiness, and tourism. Technological Industrial Development Zones offer tax incentives and infrastructure to investors and help connect Macedonia to European markets.
Doing business in Estonia, Estonian Chamber of Commerce and Industry, Margus ...Prizztech
The Estonian Chamber of Commerce and Industry was founded in 1925 to represent business interests and reestablished in 1989. Its mission is to develop entrepreneurship through economic policy participation and business services. Membership has grown steadily over time to over 3,600 members currently. The Chamber analyzes legislation and provides various services to support businesses. Estonia has a simple tax system and high credit ratings that encourage business. It ranks highly in measures of ease of doing business and has attracted large foreign investment through its stable and pro-business environment.
Outsourcing in CEE. Country Overview. BulgariaHI-TECH_Org_Ua
Bulgaria provides several advantages for outsourcing:
- Highly skilled, multilingual workforce at competitive salary levels
- Stable business environment with low taxes and EU membership
- Major outsourcing sectors include IT, customer service, finance/accounting, engineering
- Leading outsourcing countries partnering with Bulgaria include Germany, France, UK, USA
This document provides an overview of the Serbian market, including its EU membership negotiations, attractiveness for foreign direct investment, trade agreements, tax rates, export opportunities, leading foreign investors such as FIAT and Coca-Cola, growing trade with Italy represented by vehicles and raw materials, and the privatization process in Serbia in which several Italian companies have invested in sectors like pharmaceuticals, textiles, and sugar processing.
Invest in Ukraine: Transport InfrastructureOfficeNIC
This is a comprehensive analysis of the transport infrastructure sector in Ukraine. It is an integrated guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian transport infrastructure. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
This is a comprehensive analysis of the agriculture sector in Ukraine. It is a sectoral guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian agriculture. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
The document discusses virtual permanent establishment and country-by-country reporting in relation to electronic commerce and the digital economy. It notes that e-commerce is growing rapidly in Africa but current definitions of permanent establishment and reporting thresholds do not adequately address the tax challenges of the digital world. The document proposes using a virtual permanent establishment approach and lowering reporting thresholds to enhance taxation and monitoring of multinational enterprises' activities in Africa. Further research on blockchain and profit allocation is also suggested.
EU policy to attract highly skilled workers: status of implementatino of Blu...Marco Mazzeschi
The document provides an overview of the EU Blue Card Directive which aims to attract highly skilled workers from abroad. It discusses the requirements to obtain a Blue Card, the EU Commission's proposed changes to increase usage, and summarizes the status of implementation in various EU countries. Key points include: the Blue Card has had limited success with only a few thousand issued annually; Germany issues the most but usage is still low in other countries; salary and qualification requirements vary by country; validation of foreign credentials can cause delays.
This document provides an overview and summary of the 2015 OECD Economic Survey of Ireland. It finds that while Ireland has recovered strongly from the crisis through reforms and growth, challenges remain around reducing high household debt levels, lowering the high rate of non-performing loans, and making growth more inclusive through measures such as improving access to affordable childcare and reducing disincentives for low-income families to work. The survey also recommends that Ireland can boost productivity growth further through intensifying competition in certain sectors, expanding support for research and development, and ensuring skills training programs are demand-driven.
This is a comprehensive analysis of the gas upstream sector in Ukraine. It is a sectoral guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian gas extraction. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
This document discusses growth capital strategies and valuation multiples for private companies. It states that transaction multiples for deals over $25 million with a validated 5-10X growth plan typically range from 4 to 12X EBITDA and 1 to 5X revenue. Multiples vary based on factors like revenue, margins, assets, and market opportunity. While historically only large companies and startups received growth capital, new sources are now available to help small and medium businesses scale up, creating wealth opportunities for founders.
Slovenia 2017 OECD Economic Survey Boosting investment through better skills ...OECD, Economics Department
The OECD Economic Survey of Slovenia 2017 document makes the following key points in 3 sentences:
The Slovenian economy is rebounding from a long recession, but further investment is needed to boost productivity through improving skills development and reducing regulatory burdens. Unemployment is declining but long-term joblessness remains high, and the country faces fiscal challenges from an aging population that threaten debt sustainability if not addressed. The survey makes recommendations in areas like education, the labor market, state-owned enterprises, and regulation to support higher growth and living standards in Slovenia.
Executive summary
• A 534 ha Free Economic Zone situated in Kaunas, Lithuania, known as FEZ.
• Lithuania is a member of the European Union (EU) as well as a member of the Schengen area. (This
permits passport-free travel throughout the 26 countries of the Schengen area).
• Stable currency; since 2002, 3.45 Litas = €1. As from 1st January 2015, Euro replaces national currency.
• Businesses established within FEZ are totally tax-free for six years; for the next ten years, 50% reduction in
the rate of Corporation Tax. As the Lithuanian rate of Corporation Tax at present is 15%, the effective tax
rate for the first sixteen years of operation is 4.69%.
• Highly educated labour force.
• According to the World Bank, Lithuania is the seventeenth country in the world for “ease of doing
business”.
• Ability to obtain 1, 2, 3 year “temporary residence permits”, depending on individual circumstances.
• Ability to obtain Lithuanian citizenship after ten years of residence.
• Land is subleased for a term of 99 years. Pursuant to the Land Law of Lithuania, if the sublessee has
erected buildings on the land then, after the end of 99 years, the sublease will be extended until the end
of the economic life of the buildings erected on the land. The life of the building can be further extended
by continued improvements.
Findings: 2020 Annual Pay Survey of manufacturing companies in Western Ukraine
In September 2020 Lviv Consulting Group conducted an annual pay survey of manufacturing companies operational in Western Ukraine.
The document summarizes the 2019 OECD Economic Survey of Portugal. It finds that while Portugal's economic recovery is well established, further improvements are needed to raise living standards. It provides several key policy recommendations to strengthen fiscal sustainability, improve financial stability, boost export performance, enhance judicial efficiency, increase labor utilization, and further reduce poverty.
What defines us is our desire to be the best. Since 2008 we have been ranked among the top 5 fastest growing economies in the EU, and going forward we are forecast to continue to rise above the EU average. Added to this, our can-do-approach has enabled us to jump eleven places since 2013 for the ease of starting a business to 11th place globally in the World Bank’s Doing Business Report.
Ferrovial Investors Presentation Jan Mar 2014 | Presentación Inversores Ene M...Ferrovial
Ferrovial reported its results for the first quarter of 2014. Revenue declined 5.3% to €91 million due to lower traffic volumes, while EBITDA fell slightly to €55 million. The company highlighted growth in traffic and revenues at its 407ETR toll road in Canada and stable performance at its services division. Ferrovial also noted a strong backlog of €25.6 billion for its construction and services businesses. Looking ahead, Ferrovial expects continued recovery in toll road traffic in Europe and revenue growth from expansion into new international markets.
Critical Analysis on Export of Services By Category (Pakistan)Qasim Raza
This document analyzes Pakistan's exports of services by category from 2007-2008 to 2011-2012. It presents data on transportation, travel, communication, financial, government, computer/information, and insurance services in tables and pie charts. Transportation services exports peaked at $1,648 million in 2010-2011 while government services exports were highest at $2,535 million in 2009-2010. Line charts show trends over time for each category. The analysis finds that government services declined likely due to WTO restrictions while transportation grew. Overall, exports were positively impacted by transportation and travel but faced challenges from political instability, currency issues, and brain drain.
Bulgaria provides several advantages for outsourcing including a highly skilled, multilingual workforce, low costs, and a stable business environment. Bulgaria ranks highly in studies for financial attractiveness and availability of skills. Major outsourcing sectors include IT, finance, customer care, and engineering. Bulgaria has a large number of graduates in technical fields each year and provides services in many languages. Several cities like Sofia, Plovdiv and Varna provide attractive office space and a skilled workforce for outsourcing.
This document provides an overview of Romania and its business service sector, including IT, SSC, and BPO. Some key points:
- Romania has a population of 19.3 million and its capital and largest city is Bucharest. Major industries include IT/technology and outsourcing services.
- The business service sector employs over 131,000 people and has revenues of €4.5 billion, focusing on industries like banking, telecom, and professional services.
- Romania provides a skilled, English-speaking workforce at competitive costs for business services. Cities like Bucharest, Cluj-Napoca, Timisoara, and Iasi are major centers for the sector.
Business Climate and Investment Opportunities in the Republic of MacedoniaJsurna
This document provides an overview of investment opportunities and incentives for foreign investors in Macedonia. It highlights Macedonia's strategic location, low taxes, competitive costs, educated workforce, and political/economic stability. Specific opportunities mentioned include manufacturing sectors like automotive components, ICT, medical devices, agribusiness, and tourism. Technological Industrial Development Zones offer tax incentives and infrastructure to investors and help connect Macedonia to European markets.
The value added by the software and IT services sector to Romania’s GDP has reached EUR 3.066 billion in 2015, by 21% higher than the one generated in 2014, according to the data from the Employers’ Association of Software and Services Industry from Romania (ANIS). The modernisation of key economic sectors in Romania will continue to provide IT vendors with opportunities in banking, oil, power and telecommunications. An environment of investment in modernisation is likely to drive growth, particularly in the transport and utilities sectors. The present paper analyses the IT industry in Romania and its latest development.
The document discusses taxation issues related to the ICT sector. It outlines several objectives and interventions that could be taken by governments and institutions to optimize taxation for economic growth. These include designing tax regimes focused on economic growth over short-term revenue goals, analyzing the impact of increasing or decreasing excise duties, and shifting business models from fee-based to financial intermediation. Lowering ICT sector taxes is linked to increased GDP growth and jobs. Case studies from Kenya show how high ICT taxes can limit economic growth, and lowering excise duties may actually increase tax revenues in the long run. Mobile money also brings significant economic benefits by facilitating financial inclusion, but taxes on transaction values could quickly consume the money supply.
Raportul privind competitivitatea industriei și serviciilor din sectorul teh...Oksana Gogu
În Republica Moldova există toate șansele pentru a dezvolta o afacere de succes în domeniul IT. Această concluzie rezultă din raportul privind competitivitatea industriei și serviciilor din sectorul tehnologiei informației din țara noastră, prezentat de către experții International Data Corporation (IDC), o companie globală de cercetare și consultanță în tehnologia informației.
BePart Consulting provides strategic advisory services to investors in Bulgaria, including financial advisory, project management, legal consulting, mergers and acquisitions support, accounting and audit, and tax advice. It aims to allow clients to focus on their core business by handling advisory needs in Bulgaria. Key services outlined include financial advisory, accounting and audit, and mergers and acquisitions support. The document provides an overview of investment opportunities and the business environment in Bulgaria.
Using the ICT sector as a growth engine instead of a cash cow – Uganda in FocusChristoph Stork
Rather than fostering economic growth, the government of Uganda is looking at ways of raising additional tax revenues from the ICT sector. This ignores the role of the ICT sector as a contributor to other sectors of the economy. Removing all ICT sector excise duties would facilitate GDP growth, stimulate job creation and help the informal sector to become more formal, leading to a wider tax base and higher tax revenues. Economic growth will generate more tax revenues and enable investment in other parts of the economy, such as infrastructure. The ICT sector needs to be turned into a growth engine to power Uganda’s ambitious development programme.
In-Depth Analysis and Strategic Roadmap for eGovernance, eSociety and Cybersecurity for the Republic of Armenia. This report was prepared for the USAID CAPS Programme.
Poland has a large and growing IT market, with over 2 million Facebook users interested in programming. While Krakow has the highest concentration of IT talent, programming interests are well distributed across the country. Setting up an office in Poland provides access to a large pool of developers at costs generally lower than other EU countries, though competition for talent is high. Relocating developers from Ukraine may be difficult due to lower living standards in Poland compared to Ukraine. Overall, Poland represents an attractive nearshore development center within the EU.
Why Bulgaria? What are the advantages for a company to do business here? What is the most important thing to know for starting the investment? How to acquire citizenship and right of residence? What are the applicable incentives in relation to taxation, support by the administration, EU funds, etc.?
The team of Popov & Partners has developed a Doing Business Guide in Bulgaria which includes major issues for the prospective investor related to legislative regulations and requirements for starting a successful business in the country. The experts of the law office have selected and synthesized the relevant and important information for the investors as well as the main advantages of Bulgaria as a business destination.
The document is an investor presentation from the Republic of Serbia given in June 2014. It summarizes key facts about Serbia, recent economic and political milestones, the new government's reform agenda focused on improving the business environment and attracting foreign direct investment. Specific policies and incentives discussed include a new pro-business labor law, tax relief for new jobs, privatization progress, and financial incentives for investments meeting certain thresholds. Macroeconomic indicators show recovery from the financial crisis, with GDP growth of 2.5% in 2013 and reduced inflation, current account deficits, and external imbalances.
Ministry of Finance and International Ratingsminfingovkz
The document summarizes Kazakhstan's Ministry of Finance activities related to improving various economic indicators from 2008-2013. Key points include:
- Reducing state debt to an acceptable 13.2% of GDP and ensuring financing of the republican budget deficit.
- Increasing assets of the National Fund of Kazakhstan to 36.2% of GDP by 2013 to reach the target of 30% of GDP by 2020.
- Providing 121.8 billion tenge in loans from the republican budget in 2013 to support various economic sectors.
- Improving bankruptcy procedures and rehabilitation of competitive enterprises to preserve over 17,000 jobs.
- Enhancing treasury services and managing state property more efficiently through
The document summarizes key findings from the 2017 OECD Economic Survey of Austria. It finds that while Austria's economy is growing again, digital adoption remains below expectations. Public debt is high but falling, though population aging will increase fiscal pressures. Gender imbalance in the labor force persists, and low-skilled workers face higher unemployment. The survey recommends Austria increase retirement ages, undertake spending reviews, streamline regulations to boost growth, and ensure an inclusive transition to the digital economy through skills training.
EU Budget Romania 2014-2020 update November 2014Joost Holleman
EU Budget Romania 2014-2020 update November 2014
The five European Structural and Investment Funds;
| The European Regional Development Fund
| The European Social Fund
| The Cohesion Fund
| The European Maritime and Fisheries Fund
| The European Agricultural Fund for Rural Development
Kazakhstan is promoting investment opportunities in its growing economy. It has a large land area and population of over 17 million people. Kazakhstan ranks well in various indices like 25th in ease of doing business. It has abundant natural resources and is among the top countries for foreign direct investment inflows in its region. The government offers various incentives for priority sectors to attract investment, including tax breaks, cashback on investments, and free economic zones. Major projects underway include Expo 2017 in Astana, focusing on renewable energy, which involves the construction of large exhibition and thematic pavilions. The document provides an overview of Kazakhstan's investment environment and opportunities.
This document provides an overview of investing in Kosovo, including:
- Kosovo aims to achieve steady annual economic growth of 7-8% through reforms focused on macroeconomic stability, infrastructure development, agriculture, and human capital.
- Kosovo offers competitive advantages for investors like low taxes between 0-10%, young workforce, privatization opportunities, and customs-free access to EU and US markets.
- The government identifies key sectors for investment as IT, mining, energy, food processing, wood processing, metals, textiles, tourism, and construction.
- Reforms are underway to improve the business climate by streamlining regulations and reducing the time and costs of starting a business.
Cluj 2030 a vision on IT - will it thrive or will it flop - Mihai NadasITCamp
Today, Cluj-Napoca is often compared to Silicon Valley for it’s thriving IT economy. In recent years, costs surged while sector unemployment shelved at virtually 0%.
Despite our local sector’s lavish prosperity, a fundamental and sometimes unspoken question about it’s sustainable future lingers.
Expect as session with hypothesis, facts, stats, comparisons and a downright argument regarding Mihai’s personal view on the matter.
As a member of the audience you will have the opportunity to engage in the conversation and, depending on the stage of your career, define the right strategy looking forward.
BPO refers to outsourcing business processes or services to third parties. While initially applied to manufacturing, outsourcing now includes outsourcing services. Sri Lanka aims to become a top BPO destination due to its educated workforce, lower costs than places like the US, and government support through policies promoting English and IT. However, Sri Lanka faces challenges from competition and needs further support like industrial electricity tariffs.
1. Romania – A Strategic Choice
Manuel Costescu – Secretary of State InvestRomania
2. 22016 The Government of Romania
Romania – a strategic investment destination
Area:
238,391
km2
Capital:
Bucharest
Currency: RON
Inflation
forecast 0%
Population:
19.5 mn
Bridge
between East
and West
GDP in
2016 vs.
2000
5x
USD
NOMINAL GDP 200bn
Forecast
growth in
2016
4.2%
NATO member since
2004
EU member since 2007
Strategic US-Romanian
partnershipFDI stock in
Romania 70bn
3. 32016 The Government of Romania
Why invest in Romania?
Highly qualified workforce
Total number of university students enrolled 600,000
Human Capital Index Rank among
middle-income countries
3
Number of IT graduates by 2018 100,000
Participation of women in science
and engineering compared to EU-27 avg.
53% vs 38%
30% vs 25%
Source: The current situation of gender equality in Romania – Country Profile 2012
“Romania’s workforce improved alongside our business. We
started manufacturing simple items, now we are designing
them” – German automotives investor
Global ranking in Math, Science, IT Olympiads Top 10
4. 42016 The Government of Romania
Why invest in Romania?
Romanians speak many languages
Source: Assoc. of Business Services Leaders, NIS, Eurostat
Languages studied by Romanian students (2014)
97% Romanian high school students who study 2 or more foreign languages while in secondary education
University students in Romania are proficient in (% of total):
90% 26% 17% 8% 5%
5. 52016 The Government of Romania
Why invest in Romania?
Highly competitive labor cost
Source: Eurostat
National minimum wages in the EU (EUR/ month, 2016)*
PLEE
12131516
SLCY
16
RO
5
HUHR
10
GR PTES
21
MT LT
7
LV BG
689
CZ
9
SK
10
47
31
ATNL
36
SE UKDK
40
34
30
LU DE
32
BE
39
35
32
FR FI
37
28
IE
22
IT
Estimated average hourly labor costs (EUR/ h, 2014)**
1,923
1,5461,5291,5081,5021,4731,467
791764728684618
431430408405370366353350233215
ROBG LT LUIEUKMTGRPTPL DE BEFR NLSLESHRSK EELVHU CZ
National minimum wage
* Denmark, Italy, Cyprus, Austria and Finland have not implemented a national minimum wage; ** Enterprises with 10 or more employees
Other labor costs Wages and salaries
6. 62016 The Government of Romania
Employees in Romania can have the same standard of living as
abroad for less than 1/3rd of the pay
Consumer Prices
BUCHAREST vs. BERLIN BUCHAREST vs. LONDON
Rent Prices
Restaurant Prices
Groceries Prices
• 41% lower in Bucharest • 57% lower in Bucharest
• 56% lower in Bucharest • 86% lower in Bucharest
• 38% lower in Bucharest • 64% lower in Bucharest
• 44% lower in Bucharest • 55% lower in Bucharest
Source: Numbeo; InvestRomania
Standard of living
equivalency
(EUR 1,700 net
salary in
Bucharest)
• EUR 3,100 net salary in
Berlin ensures the same
standard of living
• EUR 5,707 net salary in
London ensures the same
standard of living
7. 72016 The Government of Romania
Why invest in Romania?
Highly competitive internet infrastructure
Source: Akamai Technologies; InvestRomania
12.112.412.812.913.914.014.315.215.616.1
ILBERONLCHSE NO DKFI CZ
• The internet infrastructure has developed along with the developers, who are leveraging the network to offer high quality outsourcing services, although the
focus is now shifting towards product design and, consequently, startups
50.951.753.254.257.359.460.962.8
71.472.1
HU UKRUBECH FISEILRO NL
35.0 48.0 37.0 44.0 33.0 39.0 38.0
59.0 42.0 53.0
60.0 47.0 57.0 49.0 60.0 53.0 53.0
31.0 48.0 35.0
FIAU
90.0 88.0
HU
94.0
RO
95.0
IL
95.0 93.0
CH
93.0
DKNL
91.092.0
SE BE
90.0
Share between 4 - 10 MbpsShare above 10 Mbps
Top 10 EMEA countries by avg. speed (Q2 2015, Mbps) Top 10 EMEA countries by top speed (Q2 2015, Mbps)
Top 10 EMEA countries by Mbps Broadband adoption (Q2 2015, % > 4 Mbps)
8. 82016 The Government of Romania
Why invest in Romania?
70 industrial parks offer good infrastructure for growth industries
Industrial parks in Romania
1
3
1 1
1
1
1
1
1
2
2
4
14
1
2
21
11
1
2
3 10
1
1
1
9
1
North West Region: 15 parks
West Region: 3 parks
South West Region: 6 parks
South Region: 22 parks
South East Region: 2 parks
North East Region: 4 parks
Center: 16 parks
Bucharest: 2 parks
• There are 70 industrial parks spread across Romania, placed under both private and public ownership
• All offer access to utilities, particular benefits packages according to their focus and potential for synergies
• Also, investors are exempted from land, building and urban planning taxes as well as for land destination changing
Status at regional level
9. 92016 The Government of Romania
Why invest in Romania?
We are well connected to Europe and beyond
International Fligths
Domestic Fligths
Ports
Under construction
SATU
MARE
ORADE
A
SUCEAV
A
TIMISOAR
A
CRAIOV
A
SIBIU
TARGU
MURES
CLUJ-NAPOCA
BACAU
IASI
BUCURESTI
OTOPENI
M.
KOGALNICEANU
DROBETA TR.
SEVERIN
GIURGI
U
MANGALI
A
CONSTANT
A
SULINA
TULCE
A
BRAILA
GALAT
I
BAIA
MARE
ARA
D
BRASO
V
10. 102016 The Government of Romania
130 direct flights can be accessed from 4 Romanian international
airports, leading to 76 destinations in 31 countries worldwide
TIMISOARA
17 direct flights
CLUJ-NAPOCA
26 direct flights
IASI
14 direct flights
BUCURESTI OTOPENI
73 direct flights
Alghero
Alicante
Amman
Amsterdam
Athens
Barcelona
Bari
Basel
Beirut
Belgrade
Berlin
Birmingham
Bologna
Brussels
Budapest
Catani
Chisinau
Cluj-Napoca
Copenhagen
Doha
Doncaster
Dortmund
Dubai
Dublin
Düsseldorf
Eindhoven
Florence
Frankfurt
Geneva
Glasgow
Hamburg
Iași
Istanbul
Larnaca
Liverpool
London
Madrid
Málaga
Malmö
Malta
Milan
Moscow
Munich
Naples
Nice
Nuremberg
Oradea
Oslo
Paris
Perugia
Pescara
Pisa
Prague
Rome
Satu Mare
Sibiu
Sofia
Stockholm
Strasbourg
Stuttgart
Suceava
Tel Aviv
Thessaloniki
Timisoara
Turin
Valencia
Venice
Verona
Vienna
Warsaw
Zaragoza
Zürich
Barcelona
Bari
Bologna
Brussels
Bucharest
Dortmund
Eindhoven
Frankfurt
London
Madrid
Memmingen
Milan
Munich
Paris
Rome
Valencia
Venice
Barcelona
Bologna
Brussels
Bucharest
Istanbul
London
Milan
Munich
Paris
Rome
Tel Aviv-Yafo
Turin
Venice
Vienna
Barcelona
Bari
Basel
Bologna
Brussels
Bucharest
Cologne
Dortmund
Dubai
Eindhoven
Geneva
London
Madrid
Malmö
Memmingen
Milan
Munich
Nuremberg
Paris
Rome
Tel Aviv-Yafo
Valencia
Venice
Vienna
Warsaw
Zaragoza
1
Source: InvestRomania
11. 112016 The Government of Romania
Social Security
Why invest in Romania?
Low fiscality compared to European peers
VAT
Individual Tax Rate Corporate Tax Rate
EmployerEmployee
16%
• The government is committed to
reducing the tax burden – 2016
marked the drop in VAT to 20%,
which will be followed by
another drop to 19% in 2017
• VAT on food products is 9%
• The individual tax rate does not
have any planned cuts for the
near future
• However, the new fiscal code
planned a reduction of the
dividend tax from 16% to 5%
• The government’s
commitment to lower the
tax burden covers the
corporate tax rate as well,
with a reduction to 14%
planned for 2019
Tax System of Romania
Source: InvestRomania
Overview of the Romanian tax system
16%
20%
16%
23%
12. 122016 The Government of Romania
The taxes are some of the lowest in the EU, with planned policies
aiming to reduce them even further in the favor of businesses (1)
Source: KPMG
VAT in the EU [2015, %]
171819192020202020202021212121212122222323232324252527 25
FREEATLV BGLT UKRO DECY MTSK LUES NLFISEHRDKHU ITPLIE SIPT BE CZGR
10131315151617191919202020202122222425252829293031333435
LTRO LV IE BGCYSIDK UKEEHRSKSEATNLESGR HULU PL CZFIPTFR ITBEMT DE
Corporate tax rate in the EU [2015, %]
1015161620222325
3235354042434445454547484850505052525557
SE DK PTSIBENLFI AT FRESIE DE UK ITLU LTHUEECZCY BGLV ROSKPLHR MTGR
Individual tax rate in the EU [2015, %]
13. 132016 The Government of Romania
The taxes are some of the lowest in the EU, with planned policies
aiming to reduce them even further in the favor of businesses (2)
Employee social security in the EU [2015, %]
0224
678810101011111112131313141616
181819202022
28
CZLUHU GRSI BG PTSKPLFRATDENL BEROHR LV EESE UK DKIEESLTMTIT FI CY
Employer social security in the EU [2015, %]
0
1011121415161718181921222323242425
293030313134343535
45
DKMTIEAT SIBGFI NLDE CYRO LUPL UKGRHU HRLVPTEEBE LTSEFR ESCZSK IT
Source: KPMG
14. 142016 The Government of Romania
Why invest in Romania?
Government support through state aid (1/2)
• 16% profit tax exemption for the reinvested profit in new technological equipment
used for business purposes
• Eligible R&D expenses include: depreciation of R&D equipment, salaries for R&D
personnel
• 50% of these expenses can be deducted from the taxable income
• A deduction of 50% from the fiscal value of the assets during the first year of use,
while the remaining value may be depreciated linearly along the expected remaining
lifespan
• Accelerated depreciation can be used also for equipment and/ or for research and
development activities
• If a company benefits from exemption of the income tax for reinvestment it will not
benefit from accelerated depreciation
Fiscal incentive Short description
Exemption from
profit tax
Income tax exemption for
IT&C employees
Deduction of R&D eligible
expenses
Accelerated depreciation
of machinery, equipment
and real estate used for
R&D purposes
• An exemption on the 16% income tax is available in Romania for employees
activating in IT, under conditions including:
o Bachelor’s degree in one of the 14 technical specializations available
o Employee is hired on a software engineer/ programmer/ software analyst
position
o Annual revenue per exempted employee must be over USD 10 000
Sources: Ministry of Public Finance, InvestRomania
15. 152016 The Government of Romania
Why invest in Romania?
Government support through state aid (2/2)
• Income received by people with serious disabilities can benefit from income tax
exemption (e.g., for salary income, income from freelancing activities)
• Investors that set up manufacturing locations or offices in an industrial, scientific or
technological park benefit from
o Exemption on land, building and urban planning tax
o Taxes charged for changing land destination
• International income derived by Romanian residents is tax exempted under the
following conditions:
o There is a valid tax treaty between Romania and the relevant jurisdiction
(from where the income is derived by the Romanian resident)
o The interested party (taxpayer) can demonstrate that income tax was paid
abroad on the respective income
o The tax credit cannot exceed the Romanian tax applicable for the respective
income
Fiscal incentive Short description
Foreign tax credit
Facilities for people with
serious disabilities
Industrial parks
incentives
Sources: Ministry of Public Finance, InvestRomania
16. 162016 The Government of Romania
Government support was raised this year to EUR145million from
EUR100million
North-West
50%
West
35%
North-East
50%
Center
50%
South-East
50%
South-West
50% South
50% 15%
35%
State aid intensity,
according to development
region:
• North West – 50%
• North East – 50%
• South East – 50%
• South – 50%
• South West – 50%
• West – 35%
• Ilfov County – 35%
• Bucharest – 15%
• State aid intensity is established as per EU and national regulations and is subject to change according to EU law on the matter
• Development regions of Romania represent a split of counties into larger regions in order to technically better target development programs and policies
17. 172016 The Government of Romania
Why invest in Romania?
Romania has some of the lowest energy prices in the EU
Source: Eurostat
Electricity prices in the EU [EUR / 1000 kWh, 2015]
616264687171727376767678818283848790919499104108112
129132144
156
ROSI DKSEFIBGNLLTPL DEBE ATHRLVIT EEHULU FRCZCY ESUK IE SK PTELMT
Medium sized industry - electricity prices
6
888888999999991010101010101010111111
NLBELTCZ DK ROPL ATSIIT BG FILVSKUKEEFRHUELLU SEIEESHRPT DE
Medium sized industry - gas prices
Gas prices in the EU [EUR / gigajoule, 2015]
18. 182016 The Government of Romania
Why invest in Romania?
A home away from home
Select expats networks in Romania by home country and main
originating cities
Sources: InterNations, InvestRomania
• Toronto
• Vancouver
• Montreal
• Ottawa
• London
• Birmingham
• Glasgow
• Liverpool
• Rome
• Milan
• Turin
• Genoa
• New Delhi
• Mumbai
• Kolkata
• Bangalore
• Warsaw
• Katowice
• Krakow
• Lodz
• New York
• Chicago
• Houston
• Los Angeles
• Berlin
• Hamburg
• Munich
• Cologne
• Paris
• Marseille
• Lyon
• Lille
• Madrid
• Barcelona
• Valencia
• Seville
• Amsterdam
• Rotterdam
• The Hague
19. 192016 The Government of Romania
Six priority sectors are expected to grow rapidly
• IT
• Car manufacturing
• Aerospace
• Bio-industries
• Creative Industries
• Agriculture
20. 202016 The Government of Romania
Romania – a stable business climate, great investment opportunities,
competitive workforce and outstanding lifestyle options
2016
Investing in Romania
An important domestic market and
stable/safe country
A competitive tax policy and state
support for businesses
Talented and skilled workforce
High life standards, great lifestyle
and rich personal experience
Potential market of over 20 million
consumers
One of the most dynamic
economies in Central and Eastern
Europe
More than 10 nationalities have
developed expat communities
High living standards and lifestyle
Rich experiences for expats
Few cultural and linguistic
barriers
University graduates are flexible,
innovative and future-oriented
One single corporate tax level of
16%
43 billion EUR European funds
assigned before the end of 2020
Tax exemption for reinvested profit