Bulgarian enterprises maintain investment activity despite the shortage of personnel
Bulgarian businesses continue to invest and plan to expand their operations, although the shortage of qualified labor remains the main challenge to investments. This is shown by the results of EIB Investment Survey (EIBIS) 2025 – Bulgaria, published by the European Investment Bank.
EIB Investment Survey is an annual survey by the European Investment Bank, covering around 13,000 businesses from all EU Member States. The National Profile for Bulgaria in the 2025 edition is based on a representative sample of 486 Bulgarian companies from different economic sectors.
The report presents data on the investment activity of enterprises, the main obstacles to investment, investment priorities and expectations for future development, outlining a combination of clearly expressed structural constraints and preserved investment activity.
Investments remain stable
According to the study 71% of Bulgarian companies invested in the last reported financial year, at 86% average for the European Union. Although this share remains below the EU average, the data show that a significant portion of enterprises in the country continue to make investments.
Investment expectations remain balanced, with the reported balance between companies planning an increase in investments and those expecting a decrease being +3%, a value close to the EU average.
The shortage of personnel - a leading constraint to investments
The shortage of labor and skills is indicated by over 86% from enterprises in Bulgaria as a major obstacle to their investment activity. This is the most frequently noted constraint in the survey and affects enterprises in all major sectors of the economy.
Investment priorities and planned capacity expansion
Despite the reported limitations, 40% of investing companies in Bulgaria plan to expand their production capacity in the next three years, at 26% EU average.
Along with expanding capacity, investments are aimed at:
- replacement and modernization of existing equipment;
- improving production processes;
- implementation of new products and services.
Digitalization, sustainable investments and training
The study reports investments in digital technologies, including software, data and automation, as well as in training and upgrading of personnel qualifications. Some enterprises also direct funds to energy efficiency and other sustainable solutions, which are present among the investment directions reported in the study.
Access to finance
Enterprise assessments show that access to external financing remains relatively good, with some companies reporting an improvement compared to previous years. This creates the prerequisites for the realization of the planned investments.
Conclusion
The data from EIB Investment Survey 2025 – Bulgaria show that the shortage of personnel remains a key challenge facing Bulgarian business, but along with this, there are also clear positive trends – sustainable investments, focus on expansion and modernization, digitalization and a gradual transition to more sustainable development models.
These results confirm that with targeted policies in the areas of skills, education and innovation, the investment potential of the Bulgarian economy can be realized to a greater extent.
Source: EIB Investment Survey 2025 – Bulgaria, European Investment Bank.
