Financial Times: Bulgaria Attracts Record Tech Investment

Financial Times just published an article titled Bulgaria attracts record tech investment. The publication states data on foreign investment to Bulgarian software and ICT, foreign greenfield investment and top sectors for foreign investment since 2015.

Bulgaria received a record amount of foreign investment in software and ICT services in 2018, with at least 16 projects valued at $240m, mostly in Sofia, the article sais.

The ICT sector had sales of $3.2bn in 2018, a year-on-year increase of 45 per cent, according to the International Data Corporation. It has more than 12,000 companies, of which 90 per cent are in Sofia, where they employ 50,000 people.

The publication cites the opinion about the business environment of foreign companies such as Acronis and Genius Sports that have already established their centers in Sofia and refers to what Cait O’Riordan, the FT’s chief product and information officer said, at the new centre’s opening: We looked at a number of locations across Asia, Europe and the UK before choosing Bulgaria. Sofia’s longstanding reputation as a centre for technical excellence, alongside its pedigree in data and artificial intelligence and its emergence as the technology capital of the Balkans, made it an irresistible destination.