Humanities & Social Sciences 2 (2016 9) 325-341 ~ ~ ~ УДК 330.322.01(497.2) Some Features of the Investment Process and International Investment Projects in the Conditions of Bulgarian Economy and Politics Ivo Veselinov Yotsov and Siyana Lutzkanova* Nikola Vaptsarov Naval Academy 73 Vasil Drumev Str., Varna, 9026 Bulgaria Received 20.01.2015, received in revised form 06.10.2015, accepted 10.01.2016 The focus is on the analysis of data on FDI in Bulgaria during the period 1998-2013, and the issues related to characteristics of the host country and relative advantages of the allocation of the business activity of foreign investors in Bulgaria The historical transition that Bulgaria made from a planned to a market economy provides a rich research material of the impact of the risk on the national development of the investment process and in particular, the dynamics of foreign direct investment. <...> Trends were examined about the foreign direct investment during the period 1999 – 2013, based on the offi cial data from the Bulgarian National Bank (BNB), UNCTAD and the Bulgarian Investment Agency. <...> The analysis revealed three main periods, fi rst from 1999 to 2003, from 2004 to 2007 and the third – from 2008 to 2013, characterized by a sharp decrease in the fl ow of foreign investments. <...> The low level of FDI in the period before accession to the EU and NATO is a result of the high national risk in all its aspects – political, economic, fi nancial and cultural. <...> The signifi cant growth of FDI in the period 2005-08 was due to the overall condition of the economic cycle, the internal and external political, economic and fi nancial stability. <...> Signifi cant infl ow of FDI in the Bulgarian economy was observed in the period 1998-2006, prior to the accession of Bulgaria to the European Union. <...> All rights reserved * Corresponding author E-mail address: ivo.yotsov@nvna.eu, s.lutzkanova@abv.bg # 325 # Analysis of data about FDI in Bulgaria during the period 1998-2013 is concentrated on the characteristics of the business environment in Bulgaria and its comparative advantages, determining the fl ow and preferences (regional and sectoral) of the foreign investors. <...> The characteristics by which United Nations Conference on Trade and Development (UNCTAD) estimates countries in the fi eld of attracting FDI are the index of investment Ivo Veselinov Yotsov and Siyana Lutzkanova. <...> Some Features of the Investment Process and International Investment… potential and index of FDI. <...> The index of investment potential is based <...>