Bulgaria should undertake urgent reforms in its healthcare and retirement systems in order to improve its competitiveness, according to Andrea Casini, Deputy chairmain of the MB and Chief Operative Officer at Unicredit Bulbank.

Casini assessed the competitiveness of Bulgaria's economy with a score of 6 out of 10, adding that the state should encourage new business incentives and stimulate young entrepreneurs.

"Bulgaria is logistically better located as compared to other Balkan countries and it could attract more investments," Casini stated during the International Investment Conference "Bulgaria: Business Up" in Sofia on Friday.

Unicredit Bulbank, working together with the Bulgarian government that provides Structural Funds financing, is granting credits that cover 50% of the expenses for the rehabilitation of buildings envisioned in the country's energy efficiency program.

According to Casini, needs to make better use of the Structural Funds for increasing the competitiveness and furthering the development of its rural regions.

The First International Investment Conference "Bulgaria: Business Up" started in the Bulgarian capital Sofia on Friday.

"Bulgaria: Business UP" is a new initiative designed to analyze and promote Bulgaria's advantages as a foreign investment destination.

The goal of the "Bulgaria: Business UP" investment conference is to present to the international business community the highly favorable investment climate in Bulgaria as well as the variety of opportunities for successful and sustainable business that the country has to offer.

"Bulgaria: Business UP" is organized by Novinite.com (Sofia News Agency), the largest Bularian English-language media, and Novinite.bg, a Bulgarian-language news website, together with the InvestBulgaria Agency.