Bulgaria 49th on Forbes' List of Best Countries for Business

November 16, 2012, Friday // 06:15
Bulgaria: Bulgaria 49th on Forbes' List of Best Countries for Business

Bulgaria outpaces Romania in the 2012 edition of the Best Countries for Business ranking of Forbes.

Out of a total of 141 countries, Bulgaria ranks 49th, between Saudi Arabia (48th) and Georgia (50th).

Bulgaria is also preceded by Hungary and Croatia, which rank 46th and 47th, respectively.

Turkey is 52nd on Forbes'2012 list of Best Countries for Business, while Romania is 60th.

Forbes develops the ranking by grading 141 countries on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.

The 2012 edition of Best Countries for Business is headed by New Zealand , followed by Denmark, Hong Kong, Singapore, Canada, Ireland, Sweden, Norway, Finland and the United Kingdom.

The United States  ranks  12th, while France and Germany are 20th and 21st, respectively.

The best-placed Central and Eastern European Countries are Estonia (22nd) and Slovenia (23rd), which are more attractive for doing business than Austria (26th).

Poland ranks 38th on Forbes' list of top business destinations for 2012.

Taxes, innovations, monetary freedom, corruption, red tape, and stock market performance are among Romania's weak spots, while the country's strong points are trade freedom and investor protection.

The five lowest-ranking countries are Cameron, Venezuela, Zimbabwe, Chad, and Guinea.

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