The biggest problem Bulgarian business experienced was the view that it was evolving under the conditions of corruption, US ambassador to Bulgaria John Beyrle said.

Potential investors were afraid they might be asked for bribes or otherwise might face administrative hindrances, Beyrle said as quoted by Novinar daily.

Foreign companies wanted to see more decisive action against corruption, Beyrle said. Policies had to be separated from criminal organisations and Bulgaria had to set up transparent practices, he said.

The country also has to pay attention to smaller businesses. Most effort at the moment targeted major companies, Beyrle said.

Another hindrance foreign investors faced was the lack of qualified labour hand, Beyrle said. Companies were unwilling to get involved in the training and qualification of staff as the process took time and was expensive, he said.

A solution in the long-term could be sought through partnership between businesses and Bulgarian universities, said Beyrle.