According to the United Nations Conference on Trade and Development (UNCTD) annual report, in 2005 Bulgaria ranked ninth in the world in foreign direct investment effectiveness.

The UN resident co-ordinator for Bulgaria Neil Buhne presented the report during a press conference in Bulgaria's capital Sofia, Bulgarian National Radio (BNR) reported.

Foreign direct investments in Bulgaria in 2005 were $ 2.223 billion, the report said.

The report showed that Bulgaria was becoming an investor in other countries, with current investments mainly in its neighbouring countries of Serbia, Romania, Macedonia and Turkey.

Bulgaria had to search for investors not only from the West, but also from among Eastern countries like Russia, China, Malaysia and Singapore, Buhne said.

InvestBulgaria Agency representative Dimitar Nikolov said that Bulgaria holds a share of nearly 18 per cent of the investments in the South East Europe.

Foreign direct investments in Bulgaria in 2007 could reach $ 3.5 billion, Nikolov said.