Send to Kindle
Photo by EBRD
Bulgaria is emerging as a global IT player, and a "Balkan Tiger" in IT and media, according to Nicholas Jeffery, a Senior Advisor at the European Bank for Reconstruction and Development.
In an interview for Novinite.com, Jeffery has pointed out that the EBRD was especially excited about Bulgaria in terms of the possibilities for its development in the IT, telecommunications and media sector.
Jeffery believes that Bulgaria has a perfect combination of talent pool, connectivity, and geography that create all conditions for it to become a regional and even a global hub of the IT and telecommunications industry.
"We honestly believe that Bulgaria has the opportunity to become this Balkan tiger in terms of software development. First, the fact that EBRD is saying it, is strong, and, second, we are putting our money where our mouth is. We want to help you be very good, and we are going to invest", Jeffery stated.
Jeffery has stressed the fact that the international environment has changed, and now Bulgarian software developers no longer needed to leave Bulgaria.
In his words, they could now make only 20%-15% less than their colleagues in Silicon valley, which, adjusted to the Bulgarian cost of living was practically the same, and the same time they now how the chance to work on exciting projects for global IT companies, and all this in the country where their home and family and friends are.
Jeffery and the EBRD Associate Banker, Vera Blagev, have declared in 2009 the Bank was looking for seven to ten medium-sized Bulgarian businesses in the IT and telecommunications sector with which to invest.
Blagev has mentioned Teracomm and Kontrax as two medium-sized Bulgarian companies that the EBRD finds interesting in terms of their projects and ambitions to go international.
Jeffery and Blagev's interview for Novinite.com is part of their efforts to raise awareness among the Bulgarian IT and telecommunications sector regarding the funding opportunities that the EBRD has to offer in this respect, and they are really hopeful the EBRD could help Bulgaria turn into the "Balkan Tiger" in software development.
Bulgaria is once again facing a contentious push to impose state-approved software on businesses for retail sales reporting
Bulgaria continues to hold a leading position in the European Union when it comes to the share of women working in the information technology sector
Bulgaria is preparing for the euro adoption by updating the software of over 460,000 cash registers nationwide
Initial agreements to unlock more than €300 million of new green finance
The European Bank for Reconstruction and Development (EBRD) has invested €50 million in the first bond issuance by Bulgaria's Eastern Europe Electric Company (EEEC)
The European Bank for Reconstruction and Development (EBRD) has introduced its Star Venture programme in Bulgaria
As Bulgaria phases out the lev at the end of January, the numismatic market is already responding to the change, though not all coins are attracting attention.
In Sofia, panel apartments continue to play a significant role in the housing market, making up more than a third of all property transactions in 2025
The shift to the euro in Bulgaria is proceeding more smoothly than many anticipated, according to Petar Ganev, senior economist at the Institute for Market Economics
Twelve days into Bulgaria’s adoption of the euro, the transition is showing signs of strain, particularly in the exchange of levs for euros
Wizz Air has announced the opening of three new direct air routes from Bulgaria for the summer season of 2026, strengthening its presence on the local market and expanding travel options from Sofia and Varna
Hotels in Bulgaria are transitioning to the euro without major issues, according to Georgi Duchev, executive director of the Bulgarian Association of Hotel Management Professionals
Bulgaria's Strategic Role in the EU's Drone Wall Defense Initiative
When Politics Means Violence
