Doing Business in Razgrad

The Razgrad Economy

The Institute for Market Economics groups Razgrad with Ruse and Targovishte in one economic centre with three cores. Razgrad qualified as an economic core for the first time in the 2023 edition and generates 12% of the centre’s value added, against 54% for Ruse and 17% for Targovishte. Razgrad had the highest average salary in the centre, BGN 1,438 a month, in the study.³

In Razgrad Province, export revenue made up 32.34% of company sales in 2024, and foreign investment reached €3,171 per person.⁸

Pharmaceuticals and Industry

The Penicillin Plant opened in Razgrad in 1954, making Bulgaria the first country in the Balkans to produce penicillin. As reported in January 2026, the three largest enterprises in the city are Biovet, Antibiotic-Razgrad and Balkanpharma, which export to six continents. In 2023, Huvepharma, Sting and Biovet reported record revenues.⁴

The Biovet factory in Razgrad joined Huvepharma in 2005. Huvepharma began building a veterinary vaccine factory in the city in 2019; it started production by the end of 2023 and was officially opened in June 2024 after a BGN 140 million investment. In 2025 it had a team of about 70 people and is expected to employ over 300 specialists at full capacity.⁵

The food company Pilko, with 858 workers, was among the largest employers of the economic centre in the study.³

Investment and the Perister Business Zone

Biovet completed an energy storage system in Razgrad, reported in February 2026, with a power of 13.4 MW and 26.8 MWh of storage, connected to its 44.6 MW photovoltaic plant. The BGN 10 million contract was part-funded by the Recovery and Resilience Mechanism.⁶

The Perister business zone was established in 2002 and has 53 tenants and over 30 investors, in fields including PVC windows, furniture, services and car services. Technomatix, a Razgrad electrical engineering company with 63 employees in May 2025, is opening a workshop there for electrical panels, expected to create 50 jobs, and a plan amendment would add 35 investment properties to the zone.⁷

Workforce and Salaries

• 17,100 people were employed in Razgrad in the Institute for Market Economics study, and unemployment there was 4.6%.
• Unemployment in Razgrad Province averaged 9.87% in 2025, and 66.6% of residents aged 20–64 were employed.
• 23.2% of the province’s residents aged 25–64 have a university degree.
• The average gross salary in Razgrad Province was €1,085 a month in the fourth quarter of 2025.

Source: Institute for Market Economics: Ruse–Targovishte–Razgrad economic centre; Institute for Market Economics: Regional Profiles, Razgrad Province; Ministry of Labour and Social Policy: Labour market bulletin, fourth quarter of 2025^3,8,2

Transport

Motorways and first-class roads made up 11.12% of the road network of Razgrad Province in 2025, and the province had a road density of 20.98 km per 100 km².⁸

Registering a Company in Razgrad

Bulgaria has one national Commercial Register, so a company based in Razgrad can be filed online from anywhere with a qualified electronic signature, or on paper at the Registry Agency’s Razgrad office. After registration, the company deals with the Razgrad office of the National Revenue Agency for tax and VAT, and with Razgrad Municipality for local taxes and fees.^9,10

Source: Registry Agency: Commercial Register contacts; Council of Ministers IISDA: National Revenue Agency offices; Razgrad Municipality; Bulgarian Chamber of Commerce and Industry: Regional chambers^9,10,11,12

The full steps, documents, fees and timings are in the guide to registering a company in Bulgaria.