Bulgaria To Promote BPO, IT Outsourcing

April 27, 2011

New overseas companies are expressing interesting in Bulgaria’s offshoring and outsourcing capabilities, according to novinite.com.

The chief of the InvestBulgaria Agency, Borislav Stfanov announced this at the sidelines of a conference in Sofia. According to statistics from the McKinsey consultancy, outsourcing workers in Central and Eastern Europe has increased from 220,000 – 250,000.

The outsourcing industry in Bulgaria has recorded one of the highest levels of growth in the region, when employee figures are taken into account. However, the numbers themselves are fairly small. The number of employees in the sector has gone up from 8,000 to about 12,000 or 13,000 staff.

Stefanov added that the figures are indicative that Bulgaria has what it takes to bring in more offshoring investments. One of the latest surveys from InvestBulgaria Agency revealed that outsourcing is among several industries that have the capacity to reel in direct investment from abroad to make Bulgaria a top outsourcing destination in Eastern Europe

He continued to say that Bulgaria is a good performer in three indicative segments of outsourcing: First, it is financial stable and has a sound financial and economic outlook. Additionally, it also has an excellent business environment that is equal to Central Europe and better than most Asian outsourcers.

However, the one thing that Bulgaria lacks is a good image. This is not just true of its outsourcing industry, but it includes other financial segments as well. The InvestBulgaria Agency is trying to improve the image of Bulgaria through a number of projects to make it a investment destination for offshorers and outsourcers.

Other participants in the conference, Bulgaria is uniquely poised to develop several types of outsourcing such as BPO and IT. Currently, business process outsourcing is the predominant form of outsourcing in Bulgaria. In addition, more investments are required for IT outsourcing to develop. Analysts say that this could become a major hurdle for Bulgaria. Moreover, Knowledge process outsource shows the most potential in Bulgaria since it has a small share in the industry.


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