Wednesday, 9 September 2009

Bulgaria The Least Competitive In The Industrialised World

The World Economic Forum paints a bleak industrial competitive picture of Bulgaria. If you look at the reasons behind this I can see all this on ground level here in Bulgaria. The main culprit is lack of management skills and lack of business prowess. Many businesses in Bulgaria are stuck in first gear and quite happy to stay there. The workforce is tuned into ‘Leka rabota’ (easy work) where cigarette smoking takes as much time if not more that actually being on task with work. I can’t see this changing even with the banning of smoking in the workplace.

Bulgaria The Least Competitive In The Industrialised World
Bulgaria has maintained 76th place in global rankings, making it the least competitive country in the industrialised developed world, according to the latest report from the World Economic Forum (WEF), released on September 8 2009.

Bulgaria comes last among all European Union member states. Even Romania, which used to be in 75th place has now progressed up to 64th, whereas Greece is down to 71st position. The Czech Republic showed the best performance out of all new EU member states, in 31st place.

The reasons why the country trails so far behind other EU states are legion: Inadequate top management, corruption, shoddy infrastructure, low productivity, low grade innovation, poor financial markets, lack of business sophistication and inept and corrupt government institutions are the main explanations offered by the report.

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