Bulgaria Info

Бързи кредити онлайн в София

2012-01-30T13:08:00.000+02:00

Бързи кредити онлайн

Имате нужда от бързи кредити онлайн?! Без да ставате от компютъра? Без да излизате от вкъщи или офиса?Ние предлагаме бързи кредити, които получавате до половин час след заявката. За целтапопълнете онлайн формата. След разглеждане на кандидатурата ви и в случай чеспазвате изискванията за отпускане на кредит, ще получите парите в банковата сисметка до 2 часа, след подаването на заявката. За бърз онлайн кредит при нас,могат да кандидатстват лица, които са над 18 годишна възраст и имат постоянентрудов договор.

Какво получавате вие ?

- Отговор наВашата заявка и желаната сума до 2 часа

- Превеждане накредитната сума по банковата Ви сметка, без да излизате от вкъщи или офиса

- От самотоначало знаете таксата за услугата, в която няма скрити лихви или комисионни

Процедура за получаване на бърз кредит

Кандидатстването ставасамо онлайн. Попълвате онлайн формата, с желаната сума, броя на дните, в коитоще я използвате и личните си данни. След като кандидатурата Ви за кредит бъдеодобрена, ние ви изпращаме договор, който сключваме онлайн. Това става съгласноЗакона за предоставяне на финансови услуги от разстояние. Веднага, след катоприемете условията по договора, това вече е легален договор.

В случай чеонлайн кредитът не бъде върнат в определения от договора срок, се начисляванова такса за първите 5 просрочени дена, в размер на 50 лева. С всеки 5 днипросрочване на погасяването на кредита, таксата се увеличава с 50 лева, къмглобата от предишните 5 дни. Това означава, че ако сте пресрочили погасяванетона кредита с 10 дни – ще платите такса от 100 лева; За 15 дни – такса то 150лева.

Доверете ни се, защото...

Пан Балкан финанс има лиценз отБНБ - като финансова институция и регистриран администратор на лични данни. Адългогодишният ни опит в бързите кредити е доказал високото качество наработа ни.

Пране на килими, столове, тапицирани мебели и други

2011-12-05T13:40:00.000+02:00

Почистване на килими, столове, матраци и въобще мека мебел е нещо, което притеснява всеки собственик заради усложнената процедура, която този вид обзавеждане изисква. Все пак най-ефективния и лесен начин да се справите с подобен проблем е да се обърнете към специализирана фирма.

Доброто планиране при почистване на килими, мебели или матраци може само да ви подготви за тази задача. Изготвянето на план за почистването им ще ви помогне да поддържате чистотата у дома, както и да удължите живота на подобен тип обзавеждане. Още повече, че можете да помолите цялото семейство да се включи в процедурата и така да си гарантирате качествената поддръжка на т.нар. комфортни елементи във вашето жилище.

Домашните мерки не са особено разнообразни нито са се променили по своята същност през последните години, като както споменахме в предишния абзац най-важното нещо е постоянството при почистване или пране на килими. Все пак сред използваните средства за почистване на килими са на първо място домашната прахосмукачка, която макар и не на 100% предотвратява натрупването на прах в дълбочина на килима.
Друг златен метод разбира се си остава използването на четка и почистващи препарати, задача обаче, която често отнема доста време и не е никак приятна за вършене. Недопускането на засъхване на петната по вашия килим е също една чудесна практика, която е добре да следвате, за да избегнете допълнително усложняване при пране на килими.

Добре е няколко пъти в годината да се обръщате към специализирана фирма за пране на килими, която разполага с необходимите технологии, за да обезпечи 100% - овото изпиране на вашия килим. Това е добра практика, която приложена в дългосрочен план ще удължи живота на нашите килими.

Без значение дали замърсявания на килима се дължат на любимите ни палави деца или на непослушните ни домашни любимци, то качественото поддържане и почистване на килими ще ни накара да се почувстваме далеч по-приятно, когато се приберем след дълъг работен ден и усетим комфорта, уюта и топлината на собствения си дом.

10 златни съвета при преместване

2011-11-29T11:13:00.000+02:00

Използването на професионални хамали за преместване е най-добрия вариант за всеки, който се нуждае от ефективна и компетентна помощ, за да се справи ефективно с тази нелека задача. Това важи в пълна сила, ако ви се налага да преместите цялата си покъщнина в необзаведеното ви ново жилище.

Ето 10 златни правила за всеки, които е решил да завърши щастлив процедура по преместване в нов дом, било то с помощта на хамали или без такава:

1. Опаковайте. Вещите, които предстой да пренесете в новата си квартира вероятно имат сериозна стойност за вас, това е и една добра причина да ги предпазите от повреди и щети като цяло посредством опаковането в кашони, които освен всичко останало са и по-лесни за пренасяне от наетите хамали.

2. Планирайте. Планирането на всеки етап от едно преместване с хамали ще ви даде сигурност и увереност в неговия краен резултат.

3. Осигурете достъп. Проверете изправността на асансьорите, осветлението по тъмните стълбища, мястото за паркиране и ако нещо не е наред вземете бързи и адекватни мерки, за да отстраните проблема, които може да възпрепятства работата на фирмата за хамали и преместване.

4. Проверете дали не сте забравили нещо. Съберете всичко в една стая преди да започнете изнасянето. Така ще можете да проверите дали не сте забравили нещо в останалите стаи.

5. Маркирайте кашоните. Надписването на кашоните ще ви спести много ровене в новата квартира.

6. Кутии за бърз достъп. Осигурете кутии с най-важните вещи в тях, които да ви влязат веднага в употреба в новото ви жилище.

7. Разположение на тежките вещи. Уточнете къде ще поставите дивана и секцията, за да могат наетите хамали да поставят нещата директно на техните места, без да се налага допълнително преместване.

8. Цената. Не приемайте оферти за хамали и преместване, които дори след огледа не ви дадат твърда и фиксирана цена за услугите си.

9. Резервен план. Запазете няколко кашона за последния момент – не се знае какво сте пропуснали.

10. Разопаковане. Опаковането стая по стая е страхотно предимство, което ще си проличи ясно при нанасянето в новото ви жилище.

Есенна конференция "Какво съдържание генерираме в уеб пространството"

2011-11-23T11:09:00.003+02:00

ПРОГРАМА

Есенна конференция "Какво съдържание генерираме в уеб пространството"

24 и 25 ноември 2011 г.

от 10.00 часа в заседателната зала на библиотеката, НБУ

24 ноември (четвъртък)

09.30 – 10.00 ч. Регистрация на участниците

10.00 ОТКРИВАНЕ

І сесия: 10.00 – 11.30 ч., водещ доц. д-р Михаил Мелтев, ръководител на департамент „Масови комуникации”

Специален гост на конференцията:

Огнян Младенов – основател на агенция SEOM, специализирана в Search Engine Optimization (SEO) и Social Media Marketing (SMM). Лектор и консултант на много от най-големите събития в IT бранша. Съсобственик на българският SEO форум

Гостът ще бъде представен от доц. д-р Десислава Бошнакова

Стойко Петков, Новите медиии и формите на нашето участие

Елена Цонева, Въпрос: Защо хората са в социалните мрежи? Отговор: Защото там има и други хора

Дискусия

Кафе-пауза 11.30 – 11.45

ІI сесия: 11.45 – 13.00 ч., водещ доц. д-р Десислава Бошнакова

Евелина Христова, Насилието в мрежата – искаме ли да го видим и пита ли ни някой

Владимир Михайлов, Smart TV – умната телевизия

Габриела Лозанова, Главни Интернет търсачки, най-добрите в Web

Десислава Бошнакова, Предизборната кампания 2011, генерирана от потребителите

Дискусия

Обедна почивка – 13.00 – 14.00 ч.

ІІI сесия: 14.00 – 15.30 ч., водещ гл. ас. д-р Стойко Петков

Ливия Никлина, Рекламата в безплатно генерираното съдържание

Петя Александрова, Дигитална интеграция на българските библиотеки

Калин Каров, Съдържанието, което потребителите генерират в България и как то навлиза в работата на ПР специалистите

Тодор Панайотов, Електронните издания на българските национални ежедневници

Дискусия

25 ноември (петък)

09.30 – 10.00 ч. Регистрация на участниците

10.00 ОТКРИВАНЕ

ІV сесия: 10.00 – 11.30 ч., водещ доц. д-р Руси Маринов

Ралица Филипова, Фейсбук или фейс-ту-фейс общуване?

Александра Атанасова, Какво важно можем да открием в социалната мрежа Фейсбук

Юлиана Кънчева, Генериране и потребление на съдържание – лесно, но несигурно

Гергана Божинова, Рекламата в безплатно генерираното съдържание

Дискусия

Кафе – пауза – 11.30 – 11.45 ч.

V сесия: 11.40 – 13.00 ч., водещ доц. д-р Росен Стоянов

Руси Маринов, Връзката информация - съдържание

Валентина Стефанова, Какво съдържание се поднася в социалните медии и ползата от него

Десислава Данкова, Социалните медии – книги за похвали и оплаквания. Как да използваме тези „книги” в професионалния ПР?

Дискусия

ЗАКРИВАНЕ НА КОНФЕРЕНЦИЯТА

Научен ръководител:

Проф. Владимир Михайлов, д.н.

Координатор:

Юлиана Кънчева, докторант

Информация за хотели в Сандански – Аджев Хан

2011-10-31T15:58:00.000+02:00

Преди да са предприели своята почивка, хората често искат да получат малко повече информация за възможностите, които стоят пред тях, особено, когато става дума за хотели, а в случая за хотели в Сандански. Аджев Хан е сред най-добрите хотели в Сандански заради безпогрешното си обслужване, непринудена атмосфера и комфортна обстановка.

Всеки турист в Сандански предпочита да избере някой от най-добрите хотели в Сандански. Смеем да твърдим, че удостоеният с наградата на асоциацията на българските хотелиери и ресторантьори Аджев Хан хотел Сандански е именно такъв и с гордост защитава отличните оценки за себе си както на експерти, така и на редовните туристи, решили да го посетят.

Хотел Аджев Хан предлага както апартаменти, така и стаи и въпреки цялостното оформление в традиционен стил на хотела, те разполагат с всички модерни удобства, за да се чувствате сякаш сте си у дома. Ако се спрете на резервацията на апартамент, то ще можете наред с телевизора, телефона, безплатния интернет и климатика да се възползвате и от обособено за вашите нужди джакузи.

Приказната гледка, откриваща се към планината, възрожденските платна по стените, механата с избрани ястия и вина, както и СПА центъра на хотел Аджев Хан Сандански са само малка част от удобствата, от които можете да се възползвате и да се насладите. Всеки отседнал в този отличен хотел в Сандански остава силно впечатлен от нивото на обслужване, което дори експерти определят като 5 звездно.

Надяваме се да сме ви били полезни, а ако желаете още сега да гарантирате своето място в този страхотен хотел в Сандански, то можете да се го направите на телефона за резервации на Аджев Хан – 074/631 140. Адреса на хотела е ул. Стефан Стамболов 51, 2800 Сандански.

Четци за електронни книги

2011-10-17T17:54:00.000+03:00

Иновационните електронни книги притежават множество възможности в сравнение с нормалните книжни издания. В този контекст доверявайки се на най-новите технически постижения и разработката на компактни устройства за четене, наричани четци за електронни книги имаме шанса да е насладим несравнимите им възможности.

За настоящата година растежа при пазара на онлайн книги и четци за електронни книги се характеризира с над 100 процента, което идва да покаже, че може би е дошло времето да променим завинаги начина, чрез който четем книги и учим за заобикалящия ни свят.

Сред най-надеждните фактори, на които е добре да обърнем внимание, за да предпочетем четци за електронни книги и книги онлайн пред конвенционалните такива са: доставката т.е. няма да се налага да я очаквате след поръчка; по-достъпна цена, защото няма отпечатване на хартия, опаковане и доставка на електронните книги, а просто свалятe от коя да книжарница онлайн; спирате сечта на дърветата, ползвани най-често за производството на хартиеното тяло на книгите; по всяко време имате шанса да поръчате електронната книга, която ви е заинтригувала, просто "бройките" не свършват... никога и т.н.

Голямото разнообразие електронни книги, предложени в не една книжарница онлайн е също важен компонент, който влияе съществено за решението за покупка на четец за електронни книги. Де факто в най-скоро време се очаква почти всяка книга да има собствен електронен вариант.

Kryon BG

2011-09-19T14:39:00.000+03:00

Kryon in Bulgaria

Логистика

2011-09-12T11:22:00.002+03:00

Все повече компании адекватно се приспособяват към модерните изисквания и търсения и за разлика от преди няколко години, когато малко хора осъзнаваха напълно какво значи думата логистика, към момента на практика всяко предприятие притежава отбор от експерти в сектора, касаещ логистиката и логистичните услуги. Ясно се осъзнава потенциала на добрия логистичен подход и се използва като страховито оръжие срещу конкурентни компании.

Процесът логистика e свързван с доставката на дадени блага от една точка до друга при конкретни срокове и предварително дадени цени, одобрени от двата търговски субекта по въпросния казус - фирмата и куриерската компания.

В наши дни, хитрото боравене с услуги като логистика, може да гарантира невиждан прогрес за изоставащи след конкурентите си предприятия, като предоставят на пазара по-достъпни що се касае до цена стоки и услуги.При нас в България освен редицата регистрирани предприятия, пазарни позиции и представителства имат и интернационални куриерски фирми с вековна история, огромен брой души персонал и офиси по цялата планета.

Услугата логистика е вдъхновяващ начин да освежите бизнеса си, да откриете нови пазари или да използвате материали, намиращи се десетки хиляди километри, за да помогнете на производствения процес, намалите разходите и максимално. Изберете подходяща фирма за логистика и спечелете заслужените чудесни и постоянни резултати за своя бизнес, които ще ви наредят сред лидерите на пазара в отрасъла ви.

Килими или едно страхотно решение за всеки дом

2011-09-07T15:53:00.000+03:00

Страхотното разнообразие на килими, които ще откриете днес на пазара ви дава незаменимата възможност да изградите красивата и приятна визия на своя дом. Правилно подбраните от гледище на цена на килими, типове материали и цвят килими ще ви даде увереност за едно по-комфортно усещане докато прекарвате почивката си в своето жилище.

Покупката на килими е доста полезно за всички, които живеят в по-трудни за отопление домове да топлоизолират себе си и близките си от неблагоприятните външни температури и да създадат чудесна и мека домашна обстановка. Килимите са една от най-характерните части от интериора. Килимите покриват пода ни и допринасят да се чувстваме удобно и уютно през времето, което прекарваме у дома.

Голямото разнообразие на цветови тонове, материали и цени на килими допълнително подсилват усещането за лукс и естетика за нас и нашите близки и гости. Според материала, от който могат да бъдат изработени съвременните килими често се различават доста в своите цени. 97 % от килимите в към настоящия момент се създават от изкуствени материали, като основно се ползват акрил,полиестер,полипропилен и т.н.

Изработените от природни материи килими от своя страна заемат само 3 % от световното производство, като това е и съществената причина този сравнително рядък вид килими да са с доста по-високи цени от тези изградени чрез синтетични влакна.
Предпочитани са памук, лен, коприна, вълна и т.н.

През последните години все по-голям брой производители на килими започват смело да смесват характеристиките на изкуствените с тези на натуралните нишки, за да предоставят на своите клиенти килими с най-добрите качества и на 2-та вида влакно.
Именно така се получава удобството на натуралните влакна, като те могат да бъдат третирани с по-ефективни почистващи препарати, без да се уврежда тъканта на килима поради съчетанието със синтетични материали.

Лампи и осветителни тела

2011-08-15T14:57:00.000+03:00

Осветлението и осветителните тела и лампи са един невероятен начин да внесем уют и разкош в своя дом и то на една изключително приемлива цена. Благодарение на баланса между форми, размери, цветове и разположение ние ще можем да изградим един практичен и красив дом, за който винаги сме мечтали.

Доброто осветление и избор на лампи днес се е превърнало в повече от обикновена необходимост, то е станало модерен и практичен вариант за подходящото аранжиране вътрешния и външния облик на нашия дом.

Благодарение използването на най-разнообразни осветителни тела, които можем да открием на пазара днес, ние можем лесно да придадем неповторимост и елегантност, а така и тематично усещане на всяко помещение в нашия дом.Подходящото осветление ще гарантира естетиката и комфорта на нашето жилище, като паралелно с това осигури неповторимо усещане за нашето семейство и за близките ни приятели и гости.

Някои части от нашия дом имат нужда от по-специално осветление и осветителни тела, за да насочат човек към конкретни усещания, които да го подготвят за едно специално изживяване. По тази логика например спалнята има нужда от ефирно осветително тяло, за да подчертае интимния й и романтичен характер, паралелно с това кухнята подходящо да бъде отлично осветена, за да улесни приготвянето на домашните ни специалитети например.

Независимо дали търсим да създадем приятна обстановка и атмосфера в спалнята, антрето, хола, кухнята и банята, качествено поставеното осветление и осветителни тела са незаменим помощник, който може да помогне за едно хармонично и изящно изпълнение, на което ще се радва не единствено нашето домакинство, а и всички приятели и познати, които се окажат ваши гости.Не пропускайте шанса да създадете едно уникално усещане и чувство, гарантирано от красивите и стилни лампи и осветителни тела.

Лампи от верига магазини Орион бул. Цар Борис III 197, София телефон 02 8501030.

Гаражни врати

2011-08-03T14:54:00.000+03:00

Гаражните врати са необходима част от един гараж. Съществуват няколко факта, с които е нужно да сте проучили преди да стигнете до окончателния избор на гаражна врата за вашите нужди

Най-важното нещо, на което да обърнете внимание е, че са разделени 4 значими типа гаражни врати, според начина им на функциониране.

Моделите гаражни врати според начина на задвижване са: Верижно задвижвани гаражни врати, Гаражни врати със задвижване посредством ремък, Винтово задвижвани гаражни врати и Гаражни врати с директно завъртане.

Понякога притежатели на гаражни врати търсят инсталацията на допълнителни системи, за да разширят тяхната функционалност. Класически пример за този подход е вграждането на система за сигурност при работа, както и различни типове паркинг системи. Подобен способ за разширяване на функционалността на една гаражна врата е опцията да инсталирате в нея прозорец, доверявайки се на експерт стъклар.

Допълнителен детайл, на който да наблегнете е мощността на движещата система. Тя може да варира респективно според от размера на самата гаражна врата, която възнамерявате да изберете. Най-често срещаната мощност на движещата система е между 30% и 50% от 1 конска сила, като към настоящия момент се формира тенденция за увеличаване на тази мощност, с оглед все по-масивните гаражни врати, които са достъпни на пазара и днес лесно ще намерите система с мощност около конска сила.

Подбора на качествени гаражни или автоматични врати ще ви даде възможност да се насладите на красива визия и широка функционалност и боравенето ви с вашата чисто нова врата.

Онлайн магазин

2011-07-28T14:40:00.000+03:00

Интернет бизнеса е сфера, в която е нужно да подходим много предпазливо, като специфично внимание трябва да обърнем на различните видове софтуерни решения, за създаването на собствен онлайн магазин и по-конкретно с колко вида функционални инструменти борави тази система

Защита - колкото сигурен е вашия електронен магазин, то толкова повече ще повишите доверието на клиентите към вас.

Система за плащания - полезно е да знаете, че колкото повече разплащателни методи притежава вашият интернет магазин, толкова по-добре. Този метод дава възможност за по-голям брой потенциални купувачи, които ползват по-рядко срещани методи за интернет плащания да могат да поръчат предпочитания артикул, точно от този електронен магазин.

Управление и контрол - тъй като с колкото по-голям избор на опции разполагате да следите и управлявате вашия онлайн магазин и клиентските поръчки в него, толкова повече печалби ще генерирате.

Използваемост - лесната навигация, улесненото плащане, най-малко изискваните умения за ориентация в интернет магазин го правят популярен. Не усложнявайте процеса за клиентите при покупка на стока или услуга.Не бавете купувачите с ненужно повторно попълване на данни.

Разнообразност или казано по друг начин да модифицирате своя онлайн магазин в зависимост от това, как искате да изглежда самият уеб сайт. По този начин ще се отличите от конкуренцията с техния електронен магазин и ще можете да подчертаете бранда си. Едно е да имаш онлайн магазин, друго е той да бъде уникален.

В самото начало може да не сте напълно наясно с всички настройки, особено, ако не сте достатъчно запознат с интернет, но постепенно всичко ще ви стане категорично лесно и вие ще имате възможността да оперирате, за да повишите продажбите на вашия интернет магазин.

Добре е да използвате утвърдени решения от други търговци като вас при избор на подходящ готов интернет магазин и ще си дадете ясна сметка , че щом те са се справили и вие можете. Желаем ви късмет с вашия готов онлайн магазин.

ЕС регламентира от 1 май 2011 билковите лекарства

2011-02-14T11:18:00.000+02:00

Европейските законодатели решиха от 1 май 2011 г. да бъде забранено свободното производство и продажба на лекарства, произведени по метода Аюрведа, както и на традиционни билкови лекарства, съобщи агенция ПТИ.

Билковите препарати трябва да получат лиценз, който да удостоверява, че е спазена директивата на ЕС от 2004 г. за този вид лекарства. Според тази директива, съгласувана с Европейската агенция по лекарствата, страните членки са длъжни да следват специална регистрационна процедура на билковите лекарствени продукти, които да отговарят на критериите, както всички други лекарства. Трябва да се посочи какво е съдържанието и какъв ефект предизвиква.

Лечителите, използващи в практиката си билки, ще трябва да докажат, позовавайки се на научна литература, че лекарствата им са ефикасни и не предизвикват негативни странични ефекти. Най-важното е да се докаже, че препаратът е безвреден.

Множество билкови препарати, донесени в Европа от Азия, се оказват добро средство не само за лекуване на заболявания, но и за предпазване от такива. Редица препарати се използват за тонус, добър апетит, физическа издръжливост и т.н.

Целта на новото изискване на ЕС е всички те да са регламентирани и всеки, който има нужда, да може да си ги купи от аптеката, както всяко друго лекарство.

Необходим е строг контрол, защото освен добрите примери има и множество случаи на натравяния, алергии и дори смъртни случаи. Британското правителство например реши да въведе регистър на лечителите, използващи билкови продукти.

Това се налага поради факта, че аюрведическите и останалите такива лекарства стават все по-популярни, но дори съдържанието им да е изписано на кутията, остава неразбираемо за европейците.

Ричърд Удфийлд от Регулаторната агенция по лекарствата и здравословните продукти заяви, че лицензът за билковите продукти е необходим, за да увери потребителя, че е произведен по определени стандарти.

Набиращото все по-голяма популярност древно индийско учение Аюрведа цели запазване на здравето и дълголетие, затова съдържа методи за провеждане на профилактика, диагностика и лечение на различните видове болести. Тялото според Аюрведа е янтра (машина), която приютява душата в материалния свят.

Електро услуги в София

2009-12-29T16:03:00.002+02:00

Електро услуги 411 се състои от електротехници с голям практически опит в монтажа, изграждането, ремонта и поддръжката на електроинсталации в апартаменти, къщи и офиси. Нашите майстори работят с висококачествени материали и специално оборудване за извършване на предлаганите дейности. Целта на Електро услуги 411 е изграждането и поддръжката на електрически системи, осигуряващи безопасност и енергийна ефективност при максимална производителност.

Търсейки нашите специалисти Вие си осигурявате консултация и оценка на състоянието на електрическата Ви инсталация.

Електро услуги на телефон 0878-432-411:

Ремонт на ел. повреди
Изграждане на цялостни електрически инсталации
Монтаж на ключове и контакти
Монтаж и смяна на автоматични предпазители
Електрически табла
Монтаж на осветителни тела
Абонаментна поддръжка

На телефон 0878-432-411 служителите на Електро услуги 411 са готови да се справят с проблемите на електричеството във Вашия дом или офис. Тяхната мисия е да превърнат Вашия ремонт в бърз, лесен и приятен ангажимент. Фирмата разполага с екип от професионалисти, които са обучени да реагират адекватно на всяка една ситуация. 411 се стреми да предложи сигурност на клиентите си чрез професионални решения. Майсторите използват материали и техническо оборудване на фирми доказали се на българския и световен пазар, които са гаранция за качество.

Всички електро услуги се изпълняват спрямо законовите норми и изисквания за безопасност на електрическите инсталации.

ВИК услуги

2009-12-16T11:20:00.000+02:00

Качествени ВИК услуги, денонощно на телефон 0878-433-411

ВиК 411 е специализирана в отстраняване на течове, отпушване на канали и водопроводи, аварийни ремонти, изграждане и ремонт на вътрешни и външни водопроводни и канализационни инсталации. Работим 24 часа и можем да реагираме на момента. Нашите водопроводчици са добре обучени и готови да Ви помогнат. Разполагаме с всички необходими технически средства за извършване на ремонтни дейности свързани с Вашата ВИК инсталация. Вече знаете към кого да се обърнете при нужда от качествени ВИК услуги.

ВиК услуги:

Аварийни ремонтни услуги
Отстраняване на течове
Отпушване на канали, мивки, тоалетни чинии, тръби
Демонтиране на стари тръби
Монтиране на нови тръби за топла и студена вода
Смяна на хоризонтални и вертикални щрангове
Монтаж на казанчета, сифони, смесители, мивки, бойлери, душове и др.
Ремонт на канализационни и отоплителни инсталации
Монтиране на нови тръби с алуминиева вложка
Монтиране на сферични кранове на отклоненията в мазето
Монтиране на сферични кранове преди всеки водомер
Поставяне на топлоизолация на тръбите в мазето
Укрепване на тръбите с материали, гарантиращи стабилност на системата
Почистване и извозване на отпадъците

Цените за ВиК услуги се формират след оглед на място, консултация и изготвяне на индивидуална оферта.

100 national tourist objects in Bulgaria

2009-08-26T18:42:00.000+03:00

Oblast Blagoevgrad
1 Bansko — Velyanova kashta, Muzey Neofit Rilski, Muzey Nikola Vaptsarov, postoyanna ikonna izlozhba Banska hudozhestvena shkola, tsarkva Sveta Troitsa
2 Pirin — Vrah Vihren
3 Dobarsko — tsarkva Sveti Teodor Tiron i Teodor Stratilat
4 Melnik — Istoricheski muzey, Kordopulova kashta, Rozhenski manastir Rozhdestvo bogorodichno
5 Petrich — selo Rupite, hram-pametnik Sveta Petka Balgarska, Samuilova krepost

Oblast Burgas
6 Nesebar — Arhitekturno-istoricheski rezervat, Arheologicheski muzey; Pomorie — Muzey na solta
7 Malko Tarnovo — Istoricheska mestnost Petrova niva, Istoricheski muzey
8 Sozopol — Arheologicheski muzey
Etnografski muzey v Burgas i Zashtitena mestnost Poda

Oblast Varna
9 Varna — Regionalen istoricheski muzey - Varna, Voenno-morski muzey
10 Devnya — Muzey na mozaykite

Oblast Veliko Tarnovo
11 Veliko Tarnovo — Arhitekturno-istoricheski rezervat Tsarevets, Regionalen istoricheski muzey, Arbanasi - arhitekturno-muzeen rezervat
12 Svishtov — Kashta-muzey Aleko Konstantinov
60 Elena - Arhitekturno-istoricheski kompleks - Daskalolivnitsata

Oblast Vidin
13 Vidin — Muzey-krepost Baba Vida
14 Rabisha - peshtera Magura
15 Belogradchik — Belogradchishki skali, Belogradchishka krepost, Istoricheski muzey (Belogradchik)

Oblast Vratsa
16 Vratsa — Peshtera Ledenika, Regionalen istoricheski muzey
17 Okolchitsa — lobnoto myasto na Hristo Botev
18 Kozloduy — Natsionalen muzey-parahod Radetski, pametnik na Hristo Botev i negovata cheta

Oblast Gabrovo
19 Gabrovo — Etnografski muzey na otkrito Etara, Muzey na obrazovanieto, geografski tsentar na Balgariya mestnostta Uzana
20 Bozhentsi — Arhitekturno-istoricheski rezervat
21 Tryavna — Spetsializiran muzey na rezbarskoto i etnografsko izkustvo
22 Dryanovo — Dryanovski manastir, Muzey Kolyo Ficheto, peshtera Bacho Kiro

Oblast Dobrich
23 Dobrich — Dom-pametnik Yordan Yovkov, Hudozhestvena galeriya
24 Balchik — Arhitekturno-parkov kompleks Dvoretsa; Kavarna — Arheologicheski rezervat Kaliakra

Oblast Kardzhali
25 Kardzhali — Perperikon, Regionalen istoricheski muzey, Manastirski kompleks Sv Yoan Predtecha

Oblast Kyustendil
26 Kyustendil — Hudozhestvena galeriya Vladimir Dimitrov-Maystora, Kashta-muzey Dimitar Peshev
27 Vrah Ruen
28 Rilski manastir
29 Hizha Skakavitsa i Sedemte rilski ezera

Oblast Lovech
30 Lovech — Etnografski muzey, Kakrinsko hanche, Muzey Vasil Levski; Lukovit — Natsionalen peshteren dom
31 Troyan — Troyanski manastir Uspenie Bogorodichno, Cherni Osam — Prirodonauchen muzey
32 Teteven — Istoricheski muzey
33 Brestnitsa — Peshtera Saeva dupka

Montana
34 Berkovitsa — vrah Kom, Etnografski muzey; Istoricheski muzey (Varshets)

Oblast Pazardzhik
35 Pazardzhik — Katedralna tsarkva Sveta Bogoroditsa, Kashta-muzey Stanislav Dospevski, Regionalen istoricheski muzey
36 Panagyurishte — Istoricheska mestnost Oborishte, Kashta-muzey Rayna Knyaginya
37 Peshtera — peshtera Snezhanka
38 Batak — Istoricheski muzey
55 Velingrad — Istoricheski muzey
70 Bratsigovo — Gradski istoricheski muzey

Oblast Pernik
39 Tran — Transkoto zhdrelo na reka Erma

Oblast Pleven
40 Pleven — Mavzoley-paraklis Sveti Georgi Pobedonosets, Panorama Plevenska epopeya 1877 g, Regionalen istoricheski muzey

Oblast Plovdiv
41 Plovdiv — Antichen teatar, Arhitekturno-istoricheski rezervat Stariyat Plovdiv, Etnografski muzey, Istoricheski muzey, tsarkva Sveti Sveti Konstantin i Elena
42 Perushtitsa — Istoricheski muzey
43 Sopot — Metoh Vavedenie Bogorodichno, Kashta-muzey Ivan Vazov
44 Karlovo — Natsionalen muzey Vasil Levski
45 Kalofer — Natsionalen muzey "Hristo Botev"
46 Vrah Botev
47 Bachkovski manastir, Asenova krepost
67 Starosel — Trakiyski hramov kompleks

Oblast Razgrad
48 Razgrad — Arheologicheski rezervat Abritus
49 Isperih — Istoriko-arheologicheski rezervat Sboryanovo (Istoricheski muzey - Isperih, Sveshtarska grobnitsa, Trakiyski grad Helis, Demir baba teke)

Oblast Ruse
50 Ruse — Kashta-muzey Zahari Stoyanov, Panteon na vazrozhdentsite

Oblast Silistra
51 Silistra — Istoricheski muzey, krepost Medzhidi tabiya
52 Srebarna — Biosferen rezervat Srebarna
53 Tutrakan — Voenno grobishte, Muzey na dunavskiya ribolov i lodkarstvo

Oblast Sliven
54 Sliven — Kashta-muzey Hadzhi Dimitar, Natsionalen muzey na tekstilnata industriya
56 Kotel — Panteon na Georgi Stoykov Rakovski, Muzey na kotlenskite vazrozhdentsi, Prirodonauchen muzey
57 Zheravna — Arhitekturno-istoricheski rezervat, Kashta-muzey Yordan Yovkov

Sofiya-grad
58 Sofiya — Natsionalen istoricheski muzey, Natsionalen muzey Boyanska tsarkva
59 Sofiya — Hram-pametnik Sveti Aleksandar Nevski s kriptata, Natsionalen tsarkoven istoriko-arheologicheski muzey pri Svetiya sinod
61 Sofiya — Natsionalen dvorets na kulturata
62 Sofiya — Natsionalna hudozhestvena galeriya, Etnografski institut s muzey pri BAN
64 Sofiya — Natsionalen muzey "Zemyata i horata"
65 Sofiya — Natsionalen prirodonauchen muzey pri BAN
66 Sofiya — Muzey na istoriyata na fizicheskata kultura i sporta na Natsionalen stadion "Vasil Levski"
68 Sofiya — Natsionalen arheologicheski institut s muzey pri BAN
69 Sofiya — Sofiyski zoopark
71 Sofiya — hram Sveta Sofiya
74 Vitosha — Cherni vrah

Oblast Sofiya
63 Etropole — Istoricheski muzey, Chasovnikova kula, Etropolski manastir Sv Troitsa
75 Koprivshtitsa — Arhitekturno-istoricheski rezervat
76 Sashtinska Sredna gora — vrah Bogdan
77 Klisura — Istoricheski muzey
78 Osenovlag — Manastir Sedemte prestola
79 Samokov — Istoricheski muzey, Devicheski manastir Pokrov Bogorodichen
80 Rila — vrah Musala
81 Botevgrad - Chasovnikova kula
82 Skravena, Manastir Sveti Nikolay, Manastir Sveto Preobrazhenie, Pametnik-kostnitsa na Botevite chetnitsi

Oblast Smolyan
83 Smolyan - Regionalen istoricheski muzey, Planetarium
84 Pamporovo — vrah Snezhanka, peshtera Uhlovitsa
85 Vrah Golyam Perelik, prirodna zabelezhitelnost Chudnite mostove
86 Zlatograd — Etnografski arealen kompleks
87 Shiroka laka
88 Trigradsko zhdrelo, peshtera Dyavolskoto garlo, hizha Trigradski skali”
89 Yagodinska peshtera, Buynovsko zhdrelo

Oblast Stara Zagora
90 Stara Zagora — Neolitni zhilishta, Memorialen kompleks Branitelite na Stara Zagora, Regionalen istoricheski muzey
91 Kazanlak — Literaturno-hudozhestven muzey Chudomir, Trakiyska grobnitsa
92 Shipka (grad) — Hram-pametnik Rozhdestvo Hristovo
93 Shipka (vrah) — Natsionalen park-muzey Shipka, Pametnik na svobodata
72 Chirpan — Kashta-muzey Peyo Kr Yavorov, Hudozhestvena galeriya Nikola Manev; Zlatna livada — manastir Sv Atanasiy

Oblast Haskovo
73 Dimitrovgrad — Istoricheski muzey, Dom-muzey Penyo Penev

Oblast Shumen
94 Shumen — Istoriko-arheologicheski rezervat Shumenska krepost, Regionalen istoricheski muzey
95 Shumen — Tombul dzhamiya Sherif Halil Pasha
96 Pliska — Natsionalen istoriko-arheologicheski rezervat "Pliska", Golyama bazilika
97 Madara — Arheologicheski rezervat, Pametnik 1300 g Balgariya”
98 Veliki Preslav - Natsionalen istoriko-arheologicheski rezervat Veliki Preslav

Oblast Yambol
99 Yambol — Antichen grad Kabile, Istoricheski muzey
100 Elhovo — Etnografski muzey

100-те национални туристически обекта

2009-08-26T18:33:00.001+03:00

Област Благоевград
1 Банско — Велянова къща, Музей Неофит Рилски, Музей Никола Вапцаров, постоянна иконна изложба Банска художествена школа, църква Света Троица
2 Пирин — Връх Вихрен
3 Добърско — църква Свети Теодор Тирон и Теодор Стратилат
4 Мелник — Исторически музей, Кордопулова къща, Роженски манастир Рождество богородично
5 Петрич — село Рупите, храм-паметник Света Петка Българска, Самуилова крепост

Област Бургас
6 Несебър — Архитектурно-исторически резерват, Археологически музей; Поморие — Музей на солта
7 Малко Търново — Историческа местност Петрова нива, Исторически музей
8 Созопол — Археологически музей
Етнографски музей в Бургас и Защитена местност Пода

Област Варна
9 Варна — Регионален исторически музей - Варна, Военно-морски музей
10 Девня — Музей на мозайките

Област Велико Търново
11 Велико Търново — Архитектурно-исторически резерват Царевец, Регионален исторически музей, Арбанаси - архитектурно-музеен резерват
12 Свищов — Къща-музей Алеко Константинов
60 Елена - Архитектурно-исторически комплекс - Даскалоливницата

Област Видин
13 Видин — Музей-крепост Баба Вида
14 Рабиша - пещера Магура
15 Белоградчик — Белоградчишки скали, Белоградчишка крепост, Исторически музей (Белоградчик)

Област Враца
16 Враца — Пещера Леденика, Регионален исторически музей
17 Околчица — лобното място на Христо Ботев
18 Козлодуй — Национален музей-параход Радецки, паметник на Христо Ботев и неговата чета

Област Габрово
19 Габрово — Етнографски музей на открито Етъра, Музей на образованието, географски център на България местността Узана
20 Боженци — Архитектурно-исторически резерват
21 Трявна — Специализиран музей на резбарското и етнографско изкуство
22 Дряново — Дряновски манастир, Музей Кольо Фичето, пещера Бачо Киро

Област Добрич
23 Добрич — Дом-паметник Йордан Йовков, Художествена галерия
24 Балчик — Архитектурно-парков комплекс Двореца; Каварна — Археологически резерват Калиакра

Област Кърджали
25 Кърджали — Перперикон, Регионален исторически музей, Манастирски комплекс Св Йоан Предтеча

Област Кюстендил
26 Кюстендил — Художествена галерия Владимир Димитров-Майстора, Къща-музей Димитър Пешев
27 Връх Руен
28 Рилски манастир
29 Хижа Скакавица и Седемте рилски езера

Област Ловеч
30 Ловеч — Етнографски музей, Къкринско ханче, Музей Васил Левски; Луковит — Национален пещерен дом
31 Троян — Троянски манастир Успение Богородично, Черни Осъм — Природонаучен музей
32 Тетевен — Исторически музей
33 Брестница — Пещера Съева дупка

Монтана
34 Берковица — връх Ком, Етнографски музей; Исторически музей (Вършец)

Област Пазарджик
35 Пазарджик — Катедрална църква Света Богородица, Къща-музей Станислав Доспевски, Регионален исторически музей
36 Панагюрище — Историческа местност Оборище, Къща-музей Райна Княгиня
37 Пещера — пещера Снежанка
38 Батак — Исторически музей
55 Велинград — Исторически музей
70 Брацигово — Градски исторически музей

Област Перник
39 Трън — Трънското ждрело на река Ерма

Област Плевен
40 Плевен — Мавзолей-параклис Свети Георги Победоносец, Панорама Плевенска епопея 1877 г, Регионален исторически музей

Област Пловдив
41 Пловдив — Античен театър, Архитектурно-исторически резерват Старият Пловдив, Етнографски музей, Исторически музей, църква Свети Свети Константин и Елена
42 Перущица — Исторически музей
43 Сопот — Метох Въведение Богородично, Къща-музей Иван Вазов
44 Карлово — Национален музей Васил Левски
45 Калофер — Национален музей "Христо Ботев"
46 Връх Ботев
47 Бачковски манастир, Асенова крепост
67 Старосел — Тракийски храмов комплекс

Област Разград
48 Разград — Археологически резерват Абритус
49 Исперих — Историко-археологически резерват Сборяново (Исторически музей - Исперих, Свещарска гробница, Тракийски град Хелис, Демир баба теке)

Област Русе
50 Русе — Къща-музей Захари Стоянов, Пантеон на възрожденците

Област Силистра
51 Силистра — Исторически музей, крепост Меджиди табия
52 Сребърна — Биосферен резерват Сребърна
53 Тутракан — Военно гробище, Музей на дунавския риболов и лодкарство

Област Сливен
54 Сливен — Къща-музей Хаджи Димитър, Национален музей на текстилната индустрия
56 Котел — Пантеон на Георги Стойков Раковски, Музей на котленските възрожденци, Природонаучен музей
57 Жеравна — Архитектурно-исторически резерват, Къща-музей Йордан Йовков

София-град
58 София — Национален исторически музей, Национален музей Боянска църква
59 София — Храм-паметник Свети Александър Невски с криптата, Национален църковен историко-археологически музей при Светия синод
61 София — Национален дворец на културата
62 София — Национална художествена галерия, Етнографски институт с музей при БАН
64 София — Национален музей "Земята и хората"
65 София — Национален природонаучен музей при БАН
66 София — Музей на историята на физическата култура и спорта на Национален стадион "Васил Левски"
68 София — Национален археологически институт с музей при БАН
69 София — Софийски зоопарк
71 София — храм Света София
74 Витоша — Черни връх

Област София
63 Етрополе — Исторически музей, Часовникова кула, Етрополски манастир Св Троица
75 Копривщица — Архитектурно-исторически резерват
76 Същинска Средна гора — връх Богдан
77 Клисура — Исторически музей
78 Осеновлаг — Манастир Седемте престола
79 Самоков — Исторически музей, Девически манастир Покров Богородичен
80 Рила — връх Мусала
81 Ботевград - Часовникова кула
82 Скравена, Манастир Свети Николай, Манастир Свето Преображение, Паметник-костница на Ботевите четници

Област Смолян
83 Смолян - Регионален исторически музей, Планетариум
84 Пампорово — връх Снежанка, пещера Ухловица
85 Връх Голям Перелик, природна забележителност Чудните мостове
86 Златоград — Етнографски ареален комплекс
87 Широка лъка
88 Триградско ждрело, пещера Дяволското гърло, хижа Триградски скали”
89 Ягодинска пещера, Буйновско ждрело

Област Стара Загора
90 Стара Загора — Неолитни жилища, Мемориален комплекс Бранителите на Стара Загора, Регионален исторически музей
91 Казанлък — Литературно-художествен музей Чудомир, Тракийска гробница
92 Шипка (град) — Храм-паметник Рождество Христово
93 Шипка (връх) — Национален парк-музей Шипка, Паметник на свободата
72 Чирпан — Къща-музей Пейо Кр Яворов, Художествена галерия Никола Манев; Златна ливада — манастир Св Атанасий

Област Хасково
73 Димитровград — Исторически музей, Дом-музей Пеньо Пенев

Област Шумен
94 Шумен — Историко-археологически резерват Шуменска крепост, Регионален исторически музей
95 Шумен — Томбул джамия Шериф Халил Паша
96 Плиска — Национален историко-археологически резерват "Плиска", Голяма базилика
97 Мадара — Археологически резерват, Паметник 1300 г България”
98 Велики Преслав - Национален историко-археологически резерват Велики Преслав

Област Ямбол
99 Ямбол — Античен град Кабиле, Исторически музей
100 Елхово — Етнографски музей

Travel is good for you

2007-11-11T18:10:00.000+02:00

In the first nine months of this year, about 3.289 million Bulgarians traveled abroad in what was a 4.7 per cent increase on the year, provisional data of the National Statistics Institute (NSI) released on November 2 showed.

During the same period, 3.9 million foreigners visited Bulgaria, according to the same report. The total number of foreigners having Bulgaria as transit or final destination came in at 6.76 million people, an 8.9 per cent increase against the January-September period last year.

To Bulgarians, the top three destinations - both for tourism and business purposes - were neighbouring countries Turkey, Greece and Serbia.

Bulgarians who headed to Turkey for tourism purposes totalled 907 653 individuals, while 706 000 went to Turkey for business.

Greece was the destination of choice for 614 000 Bulgarians in January-September, of which 231 000 were on holiday and 302 000 went as business people.

The tourism-only numbers rank the same three countries, but in the order Greece-Serbia-Turkey.

Serbia and Germany were the third and fourth most frequently visited countries with the numbers being at 157 000 and 115 400, respectively.

Bulgarians made 922 000 foreign trips for tourism purposes, while about 1.8 million were business trips.

The UK and the Czech Republic enjoyed enhanced interest on the part of Bulgaria, while interest toward Finland and Sweden has dwindled, the NSI report reveals.

In the foreign tourism column, Romania is atop of the ranking with 576 000 visitors, the NSI report says. Germany and Greece hold the second and third places with 522 000 and 507 000 visitors for the nine-month period, respectively.

Turkey and Romania hold the first and second places in terms of transit travels through Bulgaria with, respectively, 681 000 and 657 000 visitors. The January-September period had also seen a substantial increase in the number of German transit visitors. At 166 000 people, the figure represented a tangible mark-up on the 135 400 figure reported during the entire year 2006.

Local media drew attention to a substantial discrepancy in foreign tourism figures of the State Tourism Agency (STA) and the NSI on a number of countries.

While the STA sees the number of Turkish visitors in the January-September period at 208 638 people, the NSI reported 153 000 people.

The same holds true for Macedonian visitor numbers. According to the STA, the number of Macedonian tourists was 107 000, while according to the NSI the number was 56 540. About 40 254 Macedonians gave “other” as the goal of their visit.

The collective discrepancy in the tourist numbers of Romanian, English, German, Greek and Russian tourists is in the 50 000 to 100 000 range.

Пълна яицазимитпо лъгуг подкрепа

A dramatic increase of holiday units in Bulgaria

2007-11-11T18:08:00.000+02:00

A dramatic increase in the total number of holiday home units in Bulgaria in the first half of 2007 was reported by Colliers Bulgaria on November 5.

Colliers’ latest research showed that in mountain resorts, supply had increased by 52 per cent after almost 10 000 new apartment units were put on the market. Supply in coastal resorts also increased substantially and recorded a 39 per cent growth, or 13 500 apartment units, in the first half of 2007.

The total number of holiday homes units as of June 2007 was found to exceed 76 500. In the mountains, growth was most significant in the Bansko area (including Razlog), which accounted for 78 per cent of new supply. On the Black Sea coast, although Slanchev Bryag (Sunny Beach) continued to account for more than a third of supply, other resorts saw accelerated development as well. In Sveti Vlas and in Sozopol, supply of holiday homes increased by 52 per cent and 62 per cent, respectively.

Overall sales prices in resort apartments remained unchanged for the past half year as supply continued to outpace demand. Price ranges remained within last year’s limits of between 800 euro and 1700 a sq m. According to Bulgaria’s National Statistical Institute, the average price of homes in the country rose by 30.6 per cent year on year to 572 euro a sq m in Q3, accelerating from 27.1 per cent year-on-year in Q2 and 22.6 per cent year-on-year in Q1. The data covered prices in the big cities and some of the smaller settlements in the district of Sofia. Home prices in Sofia surged by 42.1 per cent to 976 euro and outpaced again the Black Sea city of Varna which maintained the top position for several quarters. The prices of homes in Varna increased by 30.5 per cent to 898 euro a sq m in Q3 slowing from 35.3 per cent in Q2. The growth rate also weakened in the second largest city, Plovdiv, to 19.4 per cent but accelerated in the Black Sea city of Bourgas to 20.4 per cent against 15.8 per cent in Q2.

Atanas Garov, managing director of Colliers Bulgaria, said, “International buyers, predominantly British and Irish, continue to account for most of the demand. Recently we have seen a lot of Russians entering the market, and they look to become major players.” According to Ivan Velkov, general manager of Colliers Bulgaria, “the quality of developments is continuing to increase with an emphasis on professional management offering high quality services and ample amenities to buyers.”

In support of Garov’s words came reports posted on UK based website holidaylettings.co.uk.

“Sofia and Varna are promising locations for people wishing to invest short- or medium term in real estate,” the website said on October 30. According to another website, propertysecrets.net, there will be changing trends away from the seaside and mountains and especially the cities, and people will prefer to buy more isolated properties.

Analyst Simon Tweddle was quoted as saying by Bulgarian news agency BTA that “due to the multitude of foreign investors in the country over the last several years, finances seem to be further ahead in Bulgaria than in neighbouring countries, and are probably the most advanced in the whole region.”

Tweddle added: “Sofia is not the most beautiful place, but that the mountains to the South are an advantage”.

Petar Kostadinov

Grand Hotel Bulgaria revamp controversy

2007-11-11T18:06:00.000+02:00

Grand Hotel Bulgaria is a cultural monument of national significance and as such, any plan for a revamp and expansion is subject to specific regulations – but these have not been heeded in a project to give the hotel a makeover.

This was just one of a slew of criticisms the Union of Architects in Bulgaria (UAB) voiced against the launch of the reconstruction and expansion project of the development subsidiary of BT Development Services, the current owner of the building.

The UAB held a news conference on November 2, just days after InvestBulgaria, Bulgaria’s investment promotion authority, granted a First Class Investor Certificate to the 82 million leva project, which on completion would convert Grand Hotel Bulgaria into a 10 to11-floor mixed-use complex, entailing de-luxe residential, office and retail space.

The panel of architects said that the investor had not co-ordinated the project with the UAB, nor had it sought the approval of the National Institute of Cultural Monuments, even though the hotel is on the institute’s register.

UAB head Spiridon Ganev alleged that many of the details released by the investor were misleading. For example, the conceptual plan of the hotel had not sought to reinstate the building to its 1930s appearance in line with the structuralist modernism trend, as claimed. Rather, it would resemble a US building erected in the 1930s.

For this reason, this project threatens to change the outlook of a building that is part of Sofia’s historical map and dooms to death one of the capital’s emblems, said Konstantin Boyadjiev, a UAB member and head of Docomomo, an organisation “stamping” the “death certificates of late buildings”. He hinted that the building was to be filed in the organisation’s registry on implementation of the investor’s plans.

The project is alleged to be not only in violation of the country’s regulations on cultural monuments, and indirectly of the city’s master plan, but also of intellectual property law. The architects said that the daughter of Grand Hotel Bulgaria’s chief architect Stancho Belkovski – also present at the news conference – held all intellectual property rights to the building.

The architects recognised, though, that they have few levers to stop the project once it goes ahead. “We rely on the tinge of sanity from the investor, Culture Ministry and the public community,” Boyadjiev said

Elena Koinova

The Bulgarian Economy in 2006

2007-02-21T16:37:00.001+02:00

The Bulgarian Economy in 2006

(Summary of the report by the Center for Economic Development)

• Total economic growth continues at relatively high values and in 2006 we expect it to stand at about 6.5 per cent on a year over year basis.• Following an upward trend over the whole 2006, in the first month of 2007 the ESTAT index of business climate registers record-breaking growth up to 8.5 percentage points.• In 2006, productivity registers lower growth compared to employment which increases at a twice higher pace against 2005. • In 2006, foreign direct investments to Bulgaria exceed EUR 3.5 b and cover the current account deficit at 106.2 per cent.• The tendency of higher growth in imports against growth in exports has been broken.• In 2006, total increase of consumer prices stands at 6.5 per cent (December 2006 on December 2005) and is most notable in the group of non-food goods. In 2007 we expect accumulated new inflation of about 6 per cent.• The lower, down to 10 per cent, corporate tax rate since 1 January 2007 deserves a very positive assessment but budget redistribution remains at very high levels and on an upward trend.• The problems of labor force qualification and education as a whole are aggravating.• The financial system develops on a success path with capital market registering notable growth of indexes and higher number of initial public offerings.• No progress is registered in the reform and improvement of the quality and efficiency of the healthcare system. • The lack of knowledge and skills in the public administration and the business to absorb resources from the EU structural funds raises concerns. • In a sectoral aspect, accelerated growth in industry can be given a positive assessment whereas deteriorated railway transport and lower growth in tourism against the same period of last year are annoying.• Some revival is noticed in agriculture but it is insufficient when viewed against total economic growth.
Macroeconomic Dynamics
In 2006, the Bulgarian economy registers relatively high and stable growth. In the first nine months of last year total economic growth stands at 6.3 per cent and is up 0.7 percentage points on 2005. Conjuncture data for the last months of 2006 remain optimistic. We expect economic growth to move around 6.5–6.8 per cent and 2006 annual growth to stand at about 6.5 per cent. Accelerated business climate improvement observed in early 2006 slowed down in the last months but the indicator still remains at levels by more than 25 percentage points above those at year start. In 2006, industry and trade were most contributive of general business climate indicator’s improvement. Like in previous years, the dynamics of business climate in industry sets the trend of the general business climate in the economy. Notable among the sectoral changes of the business climate in 2006 is the dynamics of the business climate in trade indicator which in mid 2006 for the first time since 2001 went above its long-term value of a little below 30 per cent and in the second half of 2006 remained at levels by more than 20 percentage points above that value. The optimistic expectations about high economic growth in late 2006 and early 2007 are supported also by the fact that, unlike previous years, in all four industry sectors included in NSI’s business surveys the business climate values at end 2006 are notably higher against end of 2005 values. Short-term industry dynamics indicators which are steadily moving upwards also support these expectations. Industrial capacity load remains on an upward trend despite that in October improvement is smoother compared to the record-breaking values in July 2006. In 2006, both industrial production and industrial sales increase at a higher pace compared to 2005. Export sales increase at a notably higher pace compared to domestic sales and have sustainable and prevalent contribution in 2006 industry growth. It should be noted, however, that growth in export sales registers a downward trend over the year whereas domestic sales are on an upward trend. NSI’s November survey data about the expected investment activity in industry indicate that the Bulgarian industry has good potential for accelerated growth in 2007 as well. The last survey for 2006 conducted among industrial enterprises projects 2007 nominal growth in investments at 16.4 per cent or up 5 percentage points on the 2006 estimated nominal growth in investments of 11.0 per cent. On the supply side, the industry sector is operating at the highest and accelerating pace and the value added generated by this sector in the first nine months of 2006 is up 9.8 per cent on the same period of 2005 when it registered growth of 7.7 per cent. Most contributive of accelerated growth in industry is industrial production which registers more accelerated growth against the sector as a whole (12.2 per cent) whereas growth in construction went below the two-digit values registered since 2004 and now stands at 7.9 per cent. Two focal points can be highlighted in respect of industrial production. Mining and quarrying preserves a two-digit though delayed growth (down from 34.9 per cent in the second quarter of 2006 to 24.8 per cent in the third quarter of last year). On the other hand, in the third quarter of 2006 growth in manufacturing has accelerated twice to 13.7 per cent against 6.1 per cent in the second quarter of 2006 and 5 per cent in the third quarter of 2005.On the production side, services remain most contributive of GDP growth (2.8 percentage points in the first nine months of 2006), but the delayed growth in services observed since the second quarter of 2006 persists – in the third quarter of 2006 real value added growth is 5.8 per cent against 6.2 per cent in the same period of 2005. The long awaited growth in the value added of the agrarian sector was registered in the third quarter of 2006, up 0.9 per cent on the same period of 2005.Until mid 2006, growth in the private sector was by about two percentage points slower compared to the same period of 2005. However, in the third quarter growth in its value added accelerated to 8.5 per cent against 5.8 per cent in the same period of 2005 and 7.3 per cent in the second quarter of 2006.On the demand side, most contributive of 2006 total real economic growth is the high growth in investments. In the first nine months of 2006, real growth in investments in equity stood at 18.9 per cent against 17.8per cent on an annual basis for the same period of 2005. However, in the third quarter of 2006 growth in investments was by some 5 percentage points slower (against about 20 per cent in each of the previous four quarters) which probably indicates somewhat calmed down pace of investments total for the economy. Total economic growth of 6.3 per cent in the first nine months of 2006 is formed by a contribution of 11 percentage points of internal demand and a negative contribution of 4.6 percentage points of foreign trade in goods and services. Consumption remains most contributive of total economic growth on the demand side. It accounts for 5.3 percentage points of economic growth despite its slower pace of increase in the first nine months of 2006 against a year back (6.1 per cent compared to 7.3 per cent in the first nine months of 2005). The contribution of gross capital formation is 5.7 percentage points (including 4.2 percentage points accounted for by investments and 1.5 percentage points accounted for by the dynamics in stocks). The negative contribution of net exports is formed by positive contribution of exports of 6.6 percentage points and negative contribution of the imports of goods and services of 11.2 percentage points. It is important to note that in the first nine months of 2006 net exports have lower negative contribution compared to 2005 and even compared to 2003 when it was respectively 5.8 and 4.9 percentage points. Very likely, annual data will confirm this tendency of lower negative effect of foreign trade on economic growth.Over 2006, the share of the negative foreign trade balance of goods and services was down 10 percentage points from one-fourth in the first quarter to 15 per cent for the first nine months of 2006, but remains at higher values compared to the same period a year back when it stood at 13.5 per cent. The shrinking negative share of the foreign trade balance of goods and services is attributable to accelerated growth in exports and delayed growth in the imports of goods and service compared to growth in the same period of last year. In the first nine months of 2006 growth in exports is 10.5 per cent against 6.7 per cent in the same period of 2005 and growth in imports stands at 14.7 per cent against 15.2 per cent in the first nine months of 2005. Thus the negative contribution of net exports in total economic growth was decreased from negative 7.3 percentage points in the first quarter to negative 4.6 percentage points in the first nine months of 2006 and stands below the annual value for 2005 (5.8 percentage points).In the first eleven months of 2006 the current account deficit is up 55 per cent on the same period of 2005, at EUR 3 115 m. The current account deficit ratio to annual GDP amount is up 12.9 per cent, deteriorating by 3.5 percentage points against the same period a year back (9.4 per cent). As usual, the deteriorated current account deficit is mostly attributable (60 per cent) to a deteriorated negative trade balance (deterioration of EUR 665 m) and the other portion is attributable to a continuing downward trend in the positive balances of other items – Income (down EUR169 m), Current Transfers (down EUR 140 m) and Services (down EUR 129 m). However, notable for 2006 (unlike 2005) is the fact that the relative deterioration of the trade balance has significantly lower unfavorable effect on current account’s relative deterioration compared to a year back. Over 2006, this effect is even decreasing but at the same time the negative effect of the deteriorated positive balances in services, income and transfers is increasing at a high pace. The shrinking negative contribution of foreign trade balance in the current account deficit is attributable to accelerated growth in exports and delayed growth in imports since mid 2006. In the first eleven months of 2006 growth in exports stands at 27.9 per cent on an annual basis against 18.4 per cent in the same period of 2005, and growth in imports is delayed to 24.6 per cent against 27 per cent in the first eleven months of 2005. The deteriorated positive balance in services for the first eleven months of 2006 against the same period of 2005 (down from 3.4 per cent to 2.5 per cent of GDP) is mostly attributable to a deteriorated positive balance in the item Travels, down from 4.2 to 3.6 per cent of GDP. 2006 foreign tourism dynamics is unfavorable for the national balance of payments because revenues from travels of foreigners to Bulgaria increase at a slower pace (4.4 per cent) against Bulgarians’ spending for travels abroad which in the first eight months increased by 13 per cent.In the first eleven months of 2006 foreign direct investments to Bulgaria stand at EUR 3.3 b and not only cover but also exceed the current account deficit by 106.2 per cent.The Bulgarian economy is of an open nature and develops under the direct influence of international conjuncture manifested in foreign trade and the inflow of FDI. Relatively good global economic development in 2006 determines growth in foreign trade by 26 per cent and significant inflow of FDI to Bulgaria (estimated at EUR 3.5 b for 2006). High domestic consumption and accelerated growth in industrial production, the opportunities opened up for inflow of European funds and a relatively favorable international conjuncture create conditions for sustained accelerated growth in the exports of goods (above the current value of about 28 per cent) and delayed growth in the balance of trade deficit (below 20 per cent annually). Expected stable national economic growth after Bulgaria’s accession to the EU and investors’ confidence in sustained fiscal discipline will keep high the rate of return on investments and the inflow of FDI will remain at least at its current level. This means increased supplies of investment goods for new and expanding production capacities, and of necessary raw materials. On this basis, growth in imports will persist, but the tendency of exports increasing at a higher pace will be confirmed. The reason is that some productions with invested foreign capital are export oriented and are directly connected with growth in imports. Investments in advanced technologies and equipment will certainly result in improved production competitiveness and wider export opportunities.Bulgaria is already established on the capital flows map and still attracts the attention of foreign investors. In 2007 the volume of FDI is expected to remain at about 12–15 per cent of GDP. Based on set up investment projects and announced investors’ plans, one can expect that investors’ interest in Bulgaria will persist in the next two years. In the future, a significant part of projects will be focused on expanding production capacities, building the missing production process links, including storage facilities and logistics centers, transport terminals and other auxiliary facilities. The full investment potential has not been reached yet, as indicated by the non-subsiding investors’ interest. In the past 2006 total increase in consumer prices is 6.5 per cent (December 2006 on December 2005). Most significant is the price increase in the group of non-food goods (up 11.3 per cent) which is contributive of more than half of total accumulated inflation (3.4 percentage points). Foods are the next group most contributive of accumulated inflation (2 percentage points) with price increase in this group standing at 5.4 per cent. However, increase in food prices is determinative, in terms of its amount and contribution, of last year accumulated total increase in the prices of the specially monitored by NSI socially useful and vital goods and services . Besides, the rise in the prices of the foods in this basket - 7.9 per cent, is significantly higher (by 2.5 percentage points) compared to that of the foods in the big basket. It contributes 4.6 percentage points to total price increase in the small consumer basket from December 2005 till December 2006 which stands at 5.4 and is lower than the inflation of prices in the big consumer basket. Total increase of producer prices (export and domestic market) accumulated till November 2006 is 9.3 per cent against December 2005. Domestic prices move up at a slightly slower pace. Accumulated increase from the beginning of 2006 till November is 7.4 per cent. Compared to a year back (November 2006 against November 2005) total producer prices have increased by 10.5 per cent and domestic market prices are up 8.1 per cent. Following international price dynamics, metal ore mining (total increase of 80 per cent, increase in domestic market prices – 87 per cent) and metal production and casting register the highest price dynamics. Prices of tobacco products move slightly down both on an annual basis and since year start. In most of the other industry sectors the price increase does not exceed 10 per cent. NSI’s business survey conducted in December does not reveal synonymous conjuncture indications of expected change in consumer prices in the first months of 2007. On one hand, inflation expectations in retail trade are on an upward trend, and on the other hand, most of the enterprises in the services sector (74 per cent) do not project changes in the prices of the services they offer. According to the survey, producer prices in industry will probably remain unchanged. Most sensitive towards expected price increase is construction where inflation expectations are high and continue on an upward trend.The 2007 price dynamics will reflect continuing changes of administratively regulated prices and the adaptation of Bulgarian producer prices to the EU. Government-planned adjustments of excise on fuels and VAT on schoolbooks and lawyer and notary fees will have a pro-inflationary effect. Similar effect will have the implementation of the Common Agricultural Policy, but it will probably be exhausted in one year. Implementation of the Single Customs Policy is expected to have an anti-inflationary effect. We will be seeing also difficult to project short-term attempts for speculative appreciation. However, such attempts could only spread within solvent demand (mainly in respect of market services) whose growth will accelerate in a longer perspective. The price dynamics of the small and big basket will be indicative of how price changes will be absorbed by Bulgarian households. We have rather conservative expectations about the dynamics of inflation to be accumulated till end of 2007, which will probably move around its 2006 value (6.5 per cent).In 2006, employment increases at a twice higher pace against the previous year. Over one year (from the third quarter of 2005 till the third quarter of 2006) the labor force in the Bulgarian economy increased by 100 thousand people, owing to growth in the number of employed person by over 100 thousand people and slight decrease in the number of unemployed persons (2.5 thousand). This means that the economy has managed to generate jobs for people who for some time have been off the labor market. This is evidenced by the fact that the number of discouraged persons (people who want to work but are not active in looking for jobs and therefore do not belong to the labor force) is down by 79 thousand people. Migration of labor from the public to the private sector continues. Growth in private sector employment (125.7 thousand people), which is higher than growth in employment total for the economy (102.7 thousand people) is accompanied by decreased number of public sector employees, down almost 16 thousand people. In 2006 growth in productivity is lower compared to growth in employment and registers delay. Economic growth in the first nine months of 2006, which is 6.3 per cent, is rather attributable to growth in employment (3.8 per cent) than to growth in productivity (GDP per employed person) (2.5 per cent), in contrast to the situation in the first nine months of 2005 when economic growth (5.6 per cent) was achieved with slower growth in employment (1.9 percent) compared to growth in productivity (3.6 per cent).Slower decrease in unemployment on an annual basis (down 7.3 per cent in the first nine months of last year against decrease of 16.6 per cent in the first nine months of 2005) indicates that the potential of matching the labor supply by unemployed persons and the labor demand in the economy is somewhat exhausted. However, because of the faster growth in employment, the number of employed – number of unemployed ratio registers sustainable improvement. In the first nine months of 2006 one unemployed person accounts for an average of 9.9 employed persons against 8.9 for the same period of 2005. Unemployment coefficients continue downwards. Total unemployment is down from 9.2 to 8.8 per cent and more than one year unemployment decreases from 5.7 to 5 per cent of the economically active population aged 15+. Unemployment of young people between 15 and 24 years also decreases from 20.5 to 19.4 per cent.
ESTAT Index of Business Climate
Entrepreneurs’ opinions remain in steady harmony with objective economic condition indicators. January 2007 results give us grounds to believe that the business environment is improving on a continuous basis. Having registered high values over 2006 and showing indications of increase, in the first month of 2007 the ESTAT index of business climate moved up to the record-breaking 8.05 points. If this dependence persists in 2007, we can expect that the ESTAT index will go above the 10 points mark.
In January, the Company Component of the ESTAT index stands at 15.45 points – the highest value in indicator’s five-year history. In contrast, the Investment Attitudes Component registers lower value than the average one for the period 2002-2004 (a little above 30). The third component of the index, Business Environment, remains at autumn of 2006 levels.
Assessment of the consequences of EU membership is direct corollary of the condition of companies and the evaluation of perspectives. Fifty-two per cent of the managers of poorly doing companies are extreme eurosceptics and maybe even membership opponents. In contrast, 80 per cent of the managers of prospering companies are enthusiastic about the opportunities opening up since early 2007. Assessments differ also in terms of business fields. The share of optimists in industrial companies is up 10 per cent compared to their share in the companies in agriculture and services. Results register increasing “discrepancy” between “prospering” and “drowning” companies. The number of companies in good and improving condition is up from 15.9 to 20.4 and of companies in poor condition – up from 3.7 to 5.7 per cent. Most unfavorable – with almost equal distribution – is the ratio of the economic subjects in the agrarian sector. The situation with industrial companies is just the opposite – 25 per cent of these companies can be characterized as prospering against only 3 per cent drowning. The bad news, if any, from this survey obviously concerns the quality of human resources. While in the past and the beginning of this decade personnel quality was among the few prides of entrepreneurs, today employers’ attitudes are moving towards the opposite pole. The current survey shows that the share of employers who can easily find the workers and employees they need barely exceeds one-third. To compare, in July 2002 this share stood at 60 per cent. Most likely, business skepticism about labor force quality is intensified by competition on European level and increasingly embarrassing comparisons of the qualification and skills of Bulgarians to those of personnel in the older EU members. We can be sure that the negative trend registered by the survey describes a real and aggravating problem and not an imaginary one. In the next years human resources may well become the Achilles’ heel of Bulgarian competitiveness if radical changes fail to be brought in the state policy on education, in the attitude of mind of young people and in company strategies.
Economic Policy
Enterprise policy. In 2006, efforts to improve the environment for business and entrepreneurship continued. A new Law on Commercial Register was passed, to take effect from July 2007. According to it the registration of companies is transferred from courts to the Registry Agency, thus making the procedure an administrative one. From the beginning of 2006 the National Revenue Agency provides integrated collection of taxes and social security contributions, facilitating entrepreneurs and citizens. In November 2006 the Government approved changes to the Law on Investment Promotion. According to these changes, in the future incentives will be directed for promotion of investments in manufacturing, wider use of renewable energy sources and high-tech productions. Special focus is placed on labor force education and qualification. Changes were made also to the Law on Public Procurement towards greater transparency of appeal procedures.
While some improvement is registered, there is also is a need to take proactive measures in respect of economic regulations.
This sphere witnessed few positive developments in the past years. The condition of regimes is studied and analyzed on a continuous basis, but that fails to produce specific actions towards facilitation. The passed Law on Simplifying Administrative Regulation and Administrative Control of Economic Activity remains non-operational; the tacit consent principle fails to be applied, etc. Municipal administrations still introduce licensing regimes and wrongfully collect charges, procedures remain slow and expensive. Monitoring and control of regimes is “scattered” among various ministries and institutions. Everything above said still creates problems for entrepreneurs. Considering structural reform, 2006 also failed to bring prompt measures for restructuring of the state monopolies and further liberalization of the energy and gas markets. No progress is registered also in the privatization and concession concepts in the transport sector and in the concepts for restructuring or liquidation of loss-generating state companies in the sector. Public finance. In the past year public finance was characterized by stability and persistence of major trends established in previous periods. Among these are: increased actual quota of reallocation through the budget, sustained chronic budget surpluses, and strengthened role of the state in the Bulgarian economy. Besides, these trends are not typical for Budget 2006 alone, they will intensify in Budget 2007. The coefficient of reallocation through Budget 2007 is planned at 41 per cent, up one percentage point on the figure planned in Budget 2006, but the real value may well go above 43 per cent. Subsidies for the Ministry of Economy and Energy have increased 13 times and those for the Ministry of State Policy for Disasters and Accidents – 12 times. Since 2003 the government pursues a steady policy of accumulating budget surpluses towards curbing the balance of trade deficit and the deficit in the current account of the balance of payments. Despite the long period of implementation, this policy has failed as yet to produce the desired results – deficits are on a steady upward trend and the economy bears an extra tax and social security burden which obviously limits its export potential. The ruling coalition gives no indications as to how long this policy will continue. Obviously, it has to be stopped, but it is not clear when and the coalition also fails to provide and make public comprehensive reasoning of financial stability problems in Bulgaria. In this sense, the fiscal policy is actually “moving with stream”. Fiscal surpluses are channeled to the fiscal reserve which at end of November 2006 amounts to unprecedented BGN 6.7 b. The three major macroeconomic problems connected with the growing fiscal reserve include: (1) there is no evidence whether the fiscal reserve is effective in counteracting the growing money supply, (2) it is “dead” capital which, if going in private hands, would intensify Bulgarian economic growth, and (3) it provokes the ruling towards spending which is not necessarily economically effective. Positive in this respect is the use of the fiscal reserve for redemption of the foreign debt, although this policy could be more trenchant. A matter of particular concern is the prospective use of the fiscal reserve in the Belene NPP venture.In 2006, the most positive change in the fiscal policy was the lower corporate tax, down from 15 to 10 per cent, in effect from 1 January 2007.
Social and health policy. In 2006, major positive trends of employment accelerated – unemployment decreased, incomes increased, creating better prospects for closing the gap between Bulgaria and the other EU members.Eliminating the transferability of the length of service allowance – a major recommendation in respect of Bulgarian labor market’s flexibility in EU’s latest monitoring reports – remained in a preparatory phase till year end. The mechanism for payment of the length of services and professional experience allowance has been coordinated with the social partners, but still it entails potential conflicts. Possible contradictions in the process of future negotiations between employers and syndicates on the amount of wage allowances may well delay its practical implementation. The lower social security burden, down 6 percentage points, preserved its sustainable positive effect on the collection of social security contributions till year end. Business representatives showed active support of the idea to lower the pension contribution rate by another three percentage points in 2007, but still the measure was deferred for six months. The lower social security burden is not the only factor for the growing social security deficit which accounts for 37 per cent of expenditures. A number of measures which will increase the expenditure part of the budget have been introduced. Among these are: longer period in which maternity allowances are payable, and unemployment benefits for old age unemployed.Repeatedly delayed structural reform in hospitals, called “optimization, restructuring and privatization of the hospital network” in the four-year government program, did not take place in the past year. Consequently, hospitals still accumulate debts, though at a slower pace compared to 2005. In the last quarter of 2006 outstanding liabilities reached BGN 160 m. The 2007 National Framework Contract became a confrontation field for the negotiating partners because the Law on the Budget of NHIF expanded significantly NHIF’s regulatory functions. Meanwhile, consolidated public healthcare expenditures remained at extremely low level as a nominal value – EUR 150 per capita which is significantly below the average EU level.
Environmental policy. In 2006 the environmental factor became an important element of the business plans and strategies of Bulgarian companies. The entry of new financial instruments and intensified administrative control on the implementation of environmental standards were a decisive impetus for companies to look for their own strategic solutions, not relying on grants from international organizations and European funds. Based on the bilateral agreements under the Kyoto Protocol, Bulgarian companies implemented successful projects with significant environmental effect. Some successful forms of business – government institutions dialogue have been established (for example for waste utilization). Bulgarian companies were admitted for participation in the European emission trading schemes. Besides successful practices, there are also some problem areas for business representatives and government institutions. Centralized financing of environmental activities and a stronger formal and administrative approach gave rise to serious conflicts between the state and companies in different economic sectors, which in the past year failed to be settled to the satisfaction of all parties concerned.
Government institutions remain underefficient in implementing environmental legislation at local level. The economic instruments, which in 2006 had the task to ensure fulfillment of undertaken commitments under the European environmental directives, did not play significant role in improving the public services concerned with environment protection and preservation of natural resources. In the absence of real competition and incentives for consumers and service suppliers, the prices of water protection, cleanness of towns and villages and energy efficiency services remain unreasonably high with very low social effect.
Financial Sector
Banking sector. Over 2006, the credit expansion of commercial banks continues, although growth in macroeconomic aggregates (on an annual basis) decreases. In the last quarter of 2006 growth in broad money stands at 0.6 per cent and is lower than the average value (2 per cent) registered in the past 12 months. In November, domestic credit, which is a major component of net domestic assets, registered new peak value since the beginning of 2006. The value of the money multiplier is still varying, registering moderate growth in the last quarter of 2006. In December ECB (the European Central Bank) raised interest rates by a quarter-point, from 3.25 per cent to 3.50 per cent, which is expected to result in higher interest rate on most credits in euro in Bulgaria. Intensive competition on the banking market will keep interest rates on new credits at the same levels and even lower. The tendency towards consolidation of commercial banks registered in 2006 will persist in 2007 with the merging of Bulbank, Hebros Bank and HVB Bank Biochim. The new bank grouping will be called UniCredit Bulbank and will displace DSK as the biggest Bulgarian bank.At the end of 2006 BNB amended Ordinance No. 9 on the Evaluation and Classification of Risk Exposures of Banks and the Allocation of Provisions to Cover Impairment Loss. The two amendments restore Ordinance No. 9 to its 2005 version. Amendments to Ordinance No. 9 are in line with BNB’s policy for gradual lifting of administrative measures on credit growth, in particular for more precise credit risk measurement. BNB continued its intensive efforts towards implementing the European banking standards. Proposed Ordinance No. 8 on the Capital Adequacy of Banks was passed. When the new ordinance takes effect banks will be obliged to report in addition to previously regulated credit and market risk also the operational risk in their activity. Specific treatment of securitization schemes, collective investment schemes and credit derivatives is also envisaged. The new Ordinance No. 8 makes the capital adequacy of banks more transparent for market participants and bank service users.
Insurance sector. 2006 was marked by intensive changes in the regulatory framework of insurance towards harmonization of Bulgarian with European legislation. In particular, the Insurance Code and its implementing legislation were passed at the end of 2005. The peer review with representatives of the Council of Green Card Bureaux, which was conducted in October 2006 in order to verify Bulgaria’s progress in meeting EU requirements, reported positive results. Thereby signing of the Green Card agreement for Bulgaria was confirmed but the timing of its implementation is not clear yet because of the lengthy process of ratification by all member states. The transitional period, characterized by eliminating minimum tariff levels, expanding the scope of the Third Party Liability Insurance, and intensified competition, is a serious challenge to the companies in the insurance sector. Problems concern the adequate tariffication of compulsory insurance and the higher prices on account of contributions to the Guarantee Fund.Further tax relieves have been adopted for savings in supplementary pension insurance and Life Insurance in the passed Law for Taxation of the Personal Income of Individuals, 2007. New amendments aim to encourage long-term saving.The Bulgarian Risk Management Association (BRIMA) was established last year. Its activity is focused on establishing the principles of professional risk management among Bulgarian enterprises and corporate clients of insurance products. The association was admitted in the Federation of European Risk Management Associations (FERMA).Life Insurance remains the most rapidly developing insurance subsector, showing however a sustainable trend of slow down of growth. On the other hand, General Insurance registers accelerated growth in the third quarter of 2006. Positive developments are observed also in property and motor vehicle insurance, whereas income from financial insurance is decreasing.
Capital market. 2006 ended with notable success for Bulgarian capital market development. SOFIX did not only go up above the so-called psychological limit of 1000 points, it reached 1200 points. The newer and broader index - BG 40, doubled its value over less than two years, reaching 199.88 points at the last trading session for 2006. Turnovers also register stable growth and market capitalization reaches BGN 15 m, accounting for 31 per cent of GDP. Over 2006, this index registers remarkable growth of 82 per cent. Optimistic is also the fact that even if growth slows down in the next two years, the standard of 60-70 per cent of GDP typical for the developed countries will still be achievable.The expert community called 2006 “the year of initial public offerings”. The first initial public offering was successfully made in the last quarter of 2006. Trading of the shares of two other companies, which made IPO earlier in 2006, was launched. Such public offerings are vital for the exchange because their successful implementation and the active secondary trading of shares would prove to investors and big non-public companies that the capital market is a serious capital raising and profit making alternative. It is known that the Bulgarian exchange suffers from the absence of these two categories of subjects. On one hand, the absence of investors puts off big non-public companies and, on the other hand, the existing investment opportunities make new actors unwilling to enter the market. Therefore, gradual entry of the one type of subjects will increase the number of the other type of subjects and vice versa, thus contributing to stable and continuous growth in liquidity, respectively in efficiency.There is a need to place special focus on completing the market infrastructure, as it has direct effect on growth opportunities. Of principal importance in this respect is to launch a project for introduction on the market of a clearing institution and a central counterpart as it would largely facilitate market participants in respect of transaction closing and would contribute to market security. This in turn would guarantee that the capital market would not get more speculative because of increased liquidity and would strongly support its development. The introduction of such institution would facilitate also the start up of a derivatives market in Bulgaria, at some later time, of course, when liquidity is improved.These projects should be viewed also in the context of initiated integration of BSE – Sofia in the European exchange structure, but certainly the time when, obviously, clearing of transactions will need to be introduced is coming close.
Main Economic Sectors
Energy sector. The successful bidder in the competition for appointment of the principal contractor for the construction of Belene NPP was announced at the end of 2006. This is the Russian company Atomstroyexport which proposed a price of EUR 3.997 b. However, some important project-related questions remain unanswered. Why is the competition for appointment of contractor organized before finding a strategic partner and financing banks? Why the variant of building anew the two energy units was chosen instead of completing construction works based on existent facilities, which was the leading argument in developing the technical specification? Why only a month before joining the EU Bulgaria was rash to commit all its strategic energy supplies to Russia? The true test for the project will be the process of finding a strategic partner and sources of finance. The backstage link between the appointment of a project contractor for Belene NPP and the pre-term signing of new contracts with Gasprom does not produce benefits for the Bulgarian end users, which makes illogical the concessions that the Ministry of Economy and Energy has made under both projects. Units 3 and 4 of Kozloduy NPP are decommissioned from 1 January 2007. The national energy balance is secured with cold reserves. Under normal operation of existing capacities there should not be electricity supply restrictions. The latest amendments to the Energy Law provide more preferences and economic incentives for the generation of energy from renewable energy sources. The government policy in the sector is focused on encouraging development of wind energy production technologies. Additional financial incentives are provided for investments in wind power plants using new equipment. The long-term contracts with NEK for guaranteed buyout of the electricity generated from RES are also an important incentive.
Transport. In 2006, major developments in the transport sector concerned road infrastructure improvement, transport companies’ preparedness for Bulgaria’s EU membership, the privatization of Bulgaria Air, finalizing the debatable concessions on Burgas and Varna airports and completing the long-drawn project for the expansion and modernization of Sofia Airport. Restructuring and financial rehabilitation of BDZ and NC Railroad Infrastructure did not take place. In 2006, both companies continued to operate at a loss, relying entirely on state subsidy. Railways’ financial stabilization is a priority on Government’s program but remains a problem which the administration cannot tackle. The business also suffers from BDZ’s deteriorated condition. Lack of freight cars prevents the carrier from performing all orders. Concerning the infrastructure company reconstruction, strongest interest enjoys the option for grant of concessions on railway stations in big towns. The national flag carrier Bulgaria Air was privatized at the end of 2006. Balkan Hemus Group was appointed successful bidder in the competition. Considering Bulgaria Air’s management in the past few years and its much delayed sale, the privatization is unsuccessful. Disorders and problems accompany the commissioning of the new track and passenger terminal of Sofia Airport. Shortage of time for testing and certification of the new navigation system for landing made it unusable at low visibility. Implementation of the project for modernization of the passenger terminal was delayed by over 16 months and can serve as an example of poor project management. A safeguard clause was invoked against Bulgaria on its aviation just a couple of days before the country joined the EU. Construction and real estate. In contrast to the past few years when growth in construction was two – three times up on total economic growth, in 2006 it gradually slowed down to only 7.9 per cent in the third quarter. Delayed growth in the second half of 2006 is accompanied by moderately pessimistic business assessments of the condition and short-term perspectives in the sector.In 2006, construction still attracts an increasing share of foreign direct investments to Bulgaria. In the first nine months of 2006 investments in construction and real estate stood at over EUR 1.2 b. Industrial production of building materials enjoys stronger foreign investors’ interest dictated by the high demand in the construction industry. The special investment purpose vehicles (SIPV) sector is advancing. As of 30 September 2006 the number of new companies stands at 29, including 21 traded at BSE. In the first nine months of 2006 the assets of these companies are up over 2.5 times.Amendments to the Law on Investment Promotion are under way. The State prioritizes incentives for industrial zones, high technology, manufacturing, education and healthcare. Access to state financial support will be expanded by lowering the minimum thresholds for investment value. End of 2006 witnessed at last approval of the town plan of Sofia City Municipality. Its implementing regulations are pending approval. No trade-off was achieved on another debatable draft law - for the Black Sea Coastal Zone, scheduled for approval in 2007.High technology. In 2006, information and communication technology (ICT) are coming in strong in the business of Bulgarian companies and in people’s everyday life. According to NSI’s annual survey, in 2006 some 89 per cent of Bulgarian enterprises use computers, including over 84 per cent having Internet access. The same is true for individuals – almost ¼ of households have computers and some 17 per cent have permanent Internet access.The year 2006 was characterized by a dynamic Internet services market. Besides some small company mergers, there were also a couple of large projects which will have strong effect on the sector in the near future. In mid 2006 Alpha Finance Holding bought 50 per cent of the shares in Spectrum Net for some BGN 10 m and six months later the European investment fund CEE Growth Luxemburg Sicar S.C.A invested almost BGN 3 m in the Internet provider BOL.bg. The inflow of fresh investment to the market implies more aggressive entry of new and improved quality of existing services, to the benefit of Bulgarian users.
Tourism. In 2006, tourism development continues at a good pace, but with more moderate dynamics compared to previous years. In the period January – November, the number of foreign tourists is up 5.32 per cent on January – November 2005. The European Union is still the major market of Bulgarian tourist services. Tourists from EU countries account for over 52 per cent of total foreign guests. However, in 2006 the number of EU tourists registers negligible growth – only 0.48 per cent – against previous years. In the period January – October 2006, revenues from international tourism are up 4.2 per cent against the same period of last year, to 1.8 b. It has to be noted, however, that in the first ten months of 2005 revenues were up 9 per cent on the same period of 2004, which confirms a slow down of growth in tourism.The people employed in the Bulgarian tourist sector give positive assessments of the past 2006 and are optimistic about the future. The number of tourists is up, revenues from tourism increase. On the other hand, growth is far from the values registered until a few years ago, confirming the opinion that the summit years of Bulgarian tourism are passing. This sector, which generates significant revenues for the Bulgarian economy, still suffers from absence of adequate government policy – lack of approved national strategy, problems with the State Agency for Tourism (changes in agency’s management have unfavorable effect on sector’s development); difficulties and failures in organizing national advertising; lack of education and training policy producing qualified staff, etc.Optimistic expectations for tourism development in the next years are based on the opportunities opened up by European funds, on priority development of specialized tourism (spa- and balneal, rural, cultural, golf, hunting, congress tourism, highlighting Bulgaria’s authenticity, specific way of living and crafts, culture and traditions.
Agriculture. While agricultural output increases, the relative share of agriculture in the national economy is on a steady downward trend. Sector’s development is underpinned by the preparation of Bulgarian agriculture to accede to the Common Agricultural Policy (CAP) of the EU and the regulatory measures taken in that light. Major focal points of action include building the Integrated Administration and Control System (IACS) and the Paying Agency within the State Fund Agriculture, setting up the veterinary border inspection posts, preparing farms to implement European standards and absorb allocated subsidies. Achieved results cannot tell yet whether the sector will be able to cope with the big changes after Bulgaria joins the EU. It is known that the Common Agricultural Policy is the most wide-ranging common policy, allocating the biggest amount of funds. Despite the restrictions which have been imposed on the country (in the first year Bulgaria will receive only 25 per cent of the funds for agricultural support allocated to the other member states) some BGN 1 b will flow in the sector in 2007 along three main lines: direct payments, market support and rural development. Planned subsidies are windows of opportunity. How we will turn them to our benefit depends on agricultural producers’ awareness and on the organization at central and local level. One should not forget that the European Commission provides very strict control of the spending of allocated funds. CAP itself is under reform and, despite of the strong opposition, European agriculture will have to go market. This means eliminating and gradually limiting different purchase quotas and subsidies, changing the principles of applying for funds, etc. This tendency should be reflected in the National Rural Development Plan and in the operational program for implementation of the 23 measures set in the plan.
EU Structural Funds and Regional Policy
2006 was a crucial year for Bulgaria in the process of preparing the government, the business and the citizens to operate with European Union’s structural funds. The National Strategic Reference Framework – the main documents outlining the priorities for absorbing the money from the European funds, has been developed and approved by the Council of Ministers. The 7 operational programs to the National Strategic Reference Framework have been elaborated. They focus on several priority areas – transport, environment, human resource development, competitiveness of the Bulgarian economy, regional development, improving the administrative capacity, technical assistance. Changes of planning region borders have been proposed in order to fulfill Eurostat’s standards for the territorial units in the EU.Preparation of the business and the citizens for full EU membership is going on. The sociological surveys conducted in the past year show that the representatives of the Bulgarian municipalities and business are not well prepared to operate with the European funds. Major problems stem from lack of experience in EU pre-accession programs, poor awareness of the structural funds, lack of resources for co-financing of projects, absence of qualified experts.Efforts to solve the problem of the financing of municipalities for implementation of European projects are going on. The set up of a national fund FLAG – a financial instrument for bridge financing of concrete municipal projects under the European funds, has proven an efficient approach. The fund is to be structured up and become fully operational. There is a need to take proactive measures to improve the awareness and enhance the capacity of municipalities, entrepreneurs and NGOs to absorb money from the EU structural funds.

Snow Business in Bulgaria and Switzerland

2006-12-05T11:53:00.000+02:00

They make an odd couple, as ski destinations and in most other respects. One country is a wealthy federation of great age, renowned for its service standards, and historically significant as the venue for the earliest British ski holidays. The other is an impoverished former socialist republic whose low-cost skiing experience "bears no comparison to skiing in the mainstream Alpine countries" according to the Good Skiing Guide, which warns that anyone planning to go there "should first find out what they are letting themselves in for".

What Switzerland and Bulgaria have in common is recently becoming more attractive to British skiers. Neither is in the same league as France and Austria; but last season they enjoyed a greater proportional growth in their business with the main UK tour operators - compared with 2004/5 - than any other European destinations. Bulgaria is by far the more intriguing, since its growth is in part a consequence of economic trends and business strategies way beyond its borders. Switzerland's performance seems to be more a case of virtue getting its reward.

The quote about Bulgaria from the Good Skiing Guide is, I admit, misleading. It's from the 1994 edition of the now defunct guide, whose successor, the Great Skiing & Snowboarding Guide, has kinder things to say. A dozen years ago the country provided merely bargain-basement skiing to people who probably did know - from the price they paid - what they were letting themselves in for. In that earlier incarnation as a ski destination, Bulgaria's characteristics included (to take some examples of the 1994 guide's critique) poor piste-grooming, queuing problems, "the same monotonous fodder every day" and a scarcity of loo paper. More alarmingly, it was said elsewhere that Bulgarian doctors were unimpressed by travel insurance and demanded US dollars up-front before any treatment was undertaken.

Just how grim conditions were on skiing's eastern front I can't say - I avoided Bulgaria in that era. Recently, though, it's been too interesting to resist, and last year I visited Bansko, now the country's major international resort.

Why the interest? First because Bulgaria was the place to which many British operators were looking for low-cost holidays, when Andorra began to go up-market. Second because the €130m transformation of Bansko into a modern, efficient ski area changed Bulgaria's skiing co-ordinates. The 2007 Great Skiing & Snowboarding Guide still has nothing good to say about Borovets (one of two older resorts, with Pamporovo), but it rates Bansko as the "best-developed ski resort in Eastern Europe". Finally, the resort began to appear in property pages, touted as a suitable place for UK investors to buy residential property. Only last week The Independent property section carried a page of advertising for each of three developments there, offering a total of 684 apartments at prices starting from ?18,450.

The secret of Bansko's transformation was the building of a gondola from the outskirts of the town up to the former ski-area base. Those outskirts immediately became a development site for Bansko's new "ski village"; and to arrive there, last December, was to drive into a vast hard-hat area fanning out from a five-star, Kempinski-run hotel at the new gondola base. No matter how generous the terms Bansko's developers offered to attract that hotel, it was a stellar business deal. Even when the new village was mostly mud, the advent of the Kempinski Hotel Grand Arena made Bansko seem a sound proposition. Bizarrely, I have since found myself having to describe the resort to people in the UK who own property there but have never visited it.

The ski area may be well designed and have fast, modern lifts, but it is small and short of challenge for good skiers. It is also not very cheap: with Crystal, the biggest UK ski tour operator, the lowest brochure holiday prices at Bansko are no lower than those at El Tarter in Andorra. (To get the really cheap deals - a seven-night package at ?295 - you have to go to much-maligned Pamporovo.)

That has not lowered the heat of Bulgaria's ski fever, however. This year the snow-sport news website, www.snow24.com, has reported from the country about proposed new resorts, extended airport runways, property-value inflation, lift construction and increased visitor numbers. In an exceptional moment of calm, it was revealed that Bansko - which between early 2005 and last summer apparently gave approval for 350 construction projects involving 22,000 beds - had put a brake on further developments, to ensure that there was enough electricity and water to go around.
Maybe the local property market is going to slow, but the number of skiers heading for Bulgaria is set to increase. Together, the Crystal and Thomson brands of the giant tour operator Tui have increased their holiday capacity by 30 per cent this season. Long-term, though, the attraction of Bulgaria seems limited, unless the proposed resorts are built to a very high standard. Currently, there are two resorts (Borovets and Pamporovo) which are routinely dismissed and one which is being feverishly hyped. On my visit to Bansko, admittedly at the height of its upheaval, the main emotion it provoked was nostalgia for Andorra, a place of which I had not previously been very fond.

Clearly, few parallels can be drawn between Bulgaria and Switzerland as ski destinations. But Switzerland, too, is experiencing a boom in ski-resort property, notably in Verbier: the resort is fast becoming a sort of south-west London in tax exile, thanks to the area's permissive stance on foreigners acquiring resident status. Here, developers have a different approach from those in Bansko, favouring a strategy of piling property low and selling it high: don't look for ?18,450 apartments in Verbier.

(Elsewhere in Switzerland, though, apartments are often better value than they are in France, says the co-editor of the Where to Ski and Snowboard guide, Dave Watts.)

In its skiing, Switzerland is clearly Premiership class, while Bulgaria is more Hackney Marshes on a Sunday morning. There is a whole string of Swiss "grande dame" resorts - St Moritz, Davos, Zermatt - which probably have a better recognition factor worldwide than Bulgaria.

Despite the fact that each of those "grandes dames" has an excellent youth hostel, Switzerland's reputation is as an expensive place to ski; and if you search out a "lowest brochure price" Crystal holiday, you'll find that a week at Wilderswil costs around 15 per cent more than an equivalent holiday in Bansko or Andorra. But quality rarely comes cheap - and Swiss skiing is certainly a quality product. Its tradition of hospitality goes back to Switzerland's earliest days, when major European trade routes passed through the country, and standards are now maintained by its renowned hotel schools. Add to that a century-and-a-half of Alpine tourism and it should be no surprise how good the service is in hotels and resorts.

Out on the slopes, the lift service and the mountain railways are excellent, too. Anyone familiar with Zermatt will be gratified to know that from 15 December a new cable-car will link the Furi and Riffelberg areas, effectively bringing together the resort's 183km of pistes into a single domain.

And then there are the mountains: Switzerland has several of the Alps' landmark sites, including the Matterhorn and the Jungfrau. Everywhere, well-tended villages are surrounded by soaring peaks, often clustered together - as above Saas-Fee - to dramatic effect.

True, Switzerland does not have extensive, joined-up skiing of the scale of the Paradiski, Trois Vall?es and Espace Killy areas in France - though a part of the mainly French Portes du Soleil domain spreads into Switzerland.

If Switzerland's so good, how come so few Brits go there? Even last season's increase brought its share of the UK ski tour operators' market up to only 5 per cent. But that's misleading. Skiers who make their own travel arrangements don't contribute to it, and Switzerland is a country to which many skiers travel independently, for a variety of reasons. First, there are a lot of scheduled flights (many on low-cost easyJet) from the UK into Switzerland. More than 202 flights per week to Geneva alone and, when the ski season starts, that will increase. Then there are the many Britons who have second homes in Swiss resorts; clearly they don't buy ski packages, and statistically are not treated as skiers. Finally, the predominance of hotel accommodation (as opposed to the apartments), plus the efficiency of the railway network, makes it easy for anyone to create their own ski package.

In a typically discreet way, Switzerland may not be doing too badly after all.

By Stephen Wood
The Independent

Bulgaria Breaks New Record in Property Sales for 2006

2006-11-28T11:51:00.000+02:00

Low prices, long-term investment prospects and changes in lifestyle have fuelled record-high property sales in Bulgaria for 2006, a realtor data shows.

The year-end count of transactions is forecast to reach 260,000 at a combined value of more than EUR 5 B, according to figures of BulgarianProperties.com, partner of foreign property buyers in Bulgaria.

The experts comment that following the massive 25% to 30% annual capital gains of recent years, Bulgaria's property market is now showing a much more realistic growth rate of 15% so far this year, setting the pattern for more predictable and sustainable long-term investment.

EU membership in January next year, the nationwide development of major tourism and infrastructure projects, the planned expansion of low-cost airline routes in 2007 and mortgage facilities remain the main attraction for making a property purchase in Bulgaria.

The trend to buy a home abroad has now moved to a new level with more and more people buying overseas with the intention of emigrating. Recent research findings show that over half of UK homeseekers aged between 18 and 29 would consider buying abroad and the UK Office of National Statistics has reported that some 198,000 UK citizens, almost 4,000 a week, left the country last year to live overseas. The number of Britons living in Bulgaria has doubled in the past year alone, with more than a thousand British families given residency here.

BulgarianProperties.com say many buyers are now seeking a permanent residence, rather than a second home and are planning to live and work in Bulgaria.

Georgi Parvanov

2006-10-30T19:37:00.000+02:00

The President of Bulgaria Georgi Parvanov won a second term in office at the Presidential elections in Bulgaria held on Sunday.
Parvanov commented on his result saying that such big difference between the votes of the two candidates at runoff was unprecedented. For the first time a result over 60% is formed within one week and we still donвЂ™t know the final result, which can exceed 70%, he said.
The вЂ�protestвЂ™ vote came from the people, who didnвЂ™t vote. The votes for Attack are exactly votes for Attack, Volen Siderov, ParvanovвЂ™s opponent said.

Final Election Results According to NCIOM: Georgi Parvanov вЂ“ 77,3%, Volen Siderov вЂ“ 22,7%
FOCUS News Agency
Sofia. вЂњThe final results of the presidential elections are as follows: Georgi Parvanov вЂ“ 77,3%, Volen Siderov вЂ“ 22,7%. The voter turnout was 41%вЂќ. This is what the head of the National Center for Public Opinion Studies (NCIOM) Lidia Yordanova told BNR. According to her 17% of the Bulgarian citizens who voted today did not vote at the first round last Sunday.
Lidia Yordanova commented that one-fifth of those who voted today are people under the age of 30 and one-quarter are over 30 years old.
72% of the supporters of the Citizens for European Development of Bulgaria (CEDB) who voted today supported Georgi Parvanov, the NCIOM director added.

We Defeated 12 Political Parties: Attack Party Leader
FOCUS News Agency
Sofia. The result is very good because we confirmed our result twice with 600,000 constituents voting for us. This is how the leader of Attack Party Volen Siderov commented the election results before journalists, FOCUS News Agency reporter informs.
According to Mr. Siderov not one other party can show such a result.
вЂњWe defeated 12 parties, including the Citizens for European Development of Bulgaria (CEDB) which supported the rightist candidate Nedelcho Beronov,вЂќ Volen Siderov said. According to him these elections showed that Attack Party has an extremely firm nucleus of supporters.
вЂњThis is a great achievement because we fought a tough battle, we were fighting against the whole state machine,вЂќ the Attack leader said. According to him the election results are a great achievement because the party is a young and new organization that had been working in an atmosphere of extreme pressure.
Volen Siderov added that this was only a stage in the partyвЂ™s development and that it would continue working for pre-term parliamentary elections вЂ�because the tripartite coalition continues damaging BulgariaвЂ™. According to him his party wants to expose, point to and sanction вЂ�this ruling majority of the mafiaвЂ™.

Georgi Parvanov: This is a Historical Victory
FOCUS News Agency
Sofia. вЂњThis is a historical victoryвЂќ, Georgi Parvanov stated addressing the hundreds of citizens that hailed him at in front of the National Palace of Culture (NPC) despite the rain, a reporter of FOCUS News Agency informed.
вЂњI am glad to see you again here, at this square, after five years, again with a victory. This was an incredible campaign, especially due to the fact that it had the spirit of youth. You will hear different opinions and evaluations вЂ“ but the truth is only one вЂ“ this is a historical victoryвЂќ, Parvanov stated.
He added that there is no other precedent like this in the modern history of Bulgaria. It became possible due to the extraordinary initiative committee and the whole civil network that was created throughout the country.
вЂњThis victory is a fact, though there were appeals inviting at a boycott. Many things, which should not have been said after 17 years after the beginning of the transition, were said. However, the Bulgarian people showed they are mature and wise, much wiser than some of their political leaders.
This campaign had an air that you brought. From now on, our common road continuesвЂќ, Parvanov said further.
вЂњI want to convince you that this road will be hard, but it will be as successful as it has been so farвЂќ.
Parvanov also expressed the cordial appreciation on his own behalf and that of the Vice President, the initiative committee, and the campaign office.

These Elections Were a Choice of Values: Foreign Minister
FOCUS News Agency
Sofia. The elections were a choice of values and not a choice between people or parties. I am glad that it was those exact values that won at the presidential elections. This is what BulgariaвЂ™s Foreign Minister Ivaylo Kalfin said while entering the International Press Center at the National Palace of Culture in Sofia, FOCUS News Agency reporter informs.
вЂњWhat I would like to see from now on is better competition and not the dilemma whether to choose European values or not,вЂќ Minister Kalfin added. вЂњToday 80 percent of the Bulgarian voters showed clearly that Bulgaria backs up EuropeвЂ™s democratic position and will continue its path,вЂќ he also said.
According to the Foreign Minister the 20 percent of the people who voted for nationalist Volen Siderov should be a lesson for all politicians.

Election Outcome Shows That People Do Justice to Results from First Term in Office: Georgi Parvanov
FOCUS News Agency
Sofia. This was an expected result but this should not sound immodestly. This is a result that shows the people appreciate what we have achieved during the first term in office. This is what BulgariaвЂ™s President Georgi Parvanov said while entering the International Press Center at the National Palace of Culture in Sofia, FOCUS News Agency reporter informs. He added that the only thing he was vexed by was the tone of the campaign.
On the question what he thinks of the introduction of obligatory voting Georgi Parvanov replied that the politicians should be the ones to motivate the constituents to vote and not the additional measures.

GALLUP: 40,8% Voter Turnout
FOCUS News Agency
Sofia. According to the initial data of GALLUP agency the voter turnout at the presidential runoffs was 40,80%, the agency told bTV.

This Is a Great Result: Attack Party MP
FOCUS News Agency
Sofia. I do not see this result as a failure. This is a great result, Attack Party MP Dimitar Stoyanov stated in bTVвЂ™s election studio at the National Palace of Culture in Sofia. I have never seen another party increase its electorate so much in just one year, the MP underscored.
There were many factors at these elections like the mobilization of all the structures of our opponents, Dimitar Stoyanov said. They resorted to means that were not exactly legal but we will carry out an investigation. We will fight with all legal means, we have never given up a fight, he added.
Attack members have been arrested without any reasons around the country, the Attack member announced.
On a reporterвЂ™s question about the reason for the suspension of the broadcasting of SKAT TV station Dimitar Stoyanov replied that he was not SKATвЂ™s executive director to answer this question but he underscored that the issue will be checked out.

NCIOM: Georgi Parvanov вЂ“ from 78% to 80%; Volen Siderov вЂ“ from 20% to 22%
FOCUS News Agency
Sofia. According to the data provided by the National Center for Public Opinion Researches (NCIUOM) Georgi Parvanov was supported by 78% - 80% of the Bulgarian voters at todayвЂ™s run-off elections in Bulgaria. His opponent Volen Siderov gets between 20% and 22% of the votes.

GALLUP: 78.70% for Georgi Parvanov; 21.30% for Volen Siderov
FOCUS News Agency
Sofia. According to the preliminary data provided by the sociological and media research agency GALLUP by 07.00 pm Georgi Parvanov is the new president of Bulgaria holding 78.70% of the votes at todayвЂ™s run-off vote in Bulgaria. Ataack partyвЂ™s leader Volen Siderov ranks second with 21.30% of the votes.
The data were reported by bTV.

Alpha Research: Georgi Parvanov вЂ“ 77.1%; Volen Siderov вЂ“ 21.9%
FOCUS News Agency
Sofia. 77.1% of the Bulgarian citizens on the territory of the country have given their support for Georgi Parvanov, the data provided by the sociological agency Alpha Research show, sociologist Boryana Dimitrova told BNT.
The same data provide for 21.9% for Volen Siderov.

Georgi Parvanov Wins Second Term in Office
FOCUS News Agency
Sofia. Even though the end of the election day in Bulgaria has not been announced officially the conclusions of all sociological agencies are explicit: BulgariaвЂ™s current President Georgi Parvanov has won a second term in office. President ParvanovвЂ™s victory at the runoffs against his opponent вЂ“ Attack Party leader Volen Siderov is crushing: between 78 and 80% voted for Georgi Parvanov against around 21% for Volen Siderov.Georgi Parvanov had 64,04% at the first round of the elections while Volen Siderov had 21,48%. The voter turnout at the runoffs remained low вЂ“ it is almost the same as the one at the first round when it was 42,51%. The initial analyses show that the Bulgarians who voted abroad were more active at the runoffs than they were in the first election round.

Bulgaria and Romania to join EU in 2007

2006-09-30T22:53:00.000+03:00

The European Commission on Tuesday gave Bulgaria and Romania the go-ahead to join the European Union in January, but with the closest monitoring system ever imposed on new members.

The 26th and 27th members of the European club will be allowed to join up on January 1, 2007, Commission President Jose Manuel Durao Barroso announced at an plenary session of the European Parliament in Strasbourg.

"I would like to congratulate the peoples and the authorities of Bulgaria and Romania for all the efforts they have produced in order to fulfil the conditions for accession to the European Union," said Barroso.

In a report to the assembly, the Commission -- the EU's executive arm -- decided not to recommend that membership be pushed back by a year, as it was empowered to do, but set out a number of measures to ensure the two new members comply with EU standards.

Among the areas of concern to be closely monitored are corruption and crime and food safety.

Romanian President Traian Basescu voiced his delight but warned: "Our life will not change in a fundamental manner between December 31 and January 1... Prosperity won't follow automatically."

Bulgarian Foreign Minister Ivaylo Kalfin also hailed the decision but recognised that work remained to be done.

"The accession is an enormous achievement but we have to be aware that after January 1, 2007, it will be even more difficult for us as we need to continue reforms in the judiciary (and that) corruption, wrongdoings and crime are beyond the pale," he told national radio.

While it was good news for Sofia and Bucharest, the decision was less encouraging for the EU candidate nations queueing up to join the club, including Croatia, Macedonia and Turkey.

"With Romania and Bulgaria's adhesion, I think that an institutional agreement should precede any more enlargement," said Barroso.

That would mean in some way re-heating the moribund EU constitution, or at least its main planks, which suffered two stunning reversals last year when French and Dutch voters rejected in a referendum in each country.

Top officials in Macedonia and Croatia nevertheless said they remained optimistic about their countries' prospects of joining the bloc.

A senior Turkish diplomat meanwhile said Ankara would reject any bid to impose tougher conditions on its own struggling bid to join the EU.

Amid weakening support for further enlargement and fears of a flood of new job-seeking migrants, most member states are expected to impose restrictions to workers from the two newcomers, as they did when 10 mainly former Soviet-bloc countries joined in 2004.

Moreover, "safeguard mechanisms of last resort" may be applied to Bulgaria and Romania for up to three years after they join.

They include the possibility of withholding EU funding, the temporary suspension of EU rights, banning the sale of unsafe food and the non-recognition of certain civil and criminal judgements or arrest warrants.

Both new members will have to report to the Commission twice a year on the benchmarks that are to be met, with the first report due by March 31, 2007.

The safeguard measures will "reassure Eurosceptics that the EU won't just accept whatever happens," said Lucia Montanaro-Jankovski, an analyst at the Brussels-based European Policy Centre.

Welcoming the green light to the newcomers, the Czech foreign affairs minister praised the safeguards as "an impulsion for the two countries to complete as quickly as possible their preparation in the sectors were certain deficiencies have been observed."

Britain also hailed Tuesday's decision but warned it would only gradually open access to immigrants from the two new countries. Britain had been one of only three countries not to restrict immigration from the 10 countries that joined in 2004.

Bulgaria and Romania will be among the poorest members of the EU, making up six percent of the bloc's population but less than one percent of its gross domestic product (GDP).

In both countries, GDP per head is about a third of the EU average, but growing rapidly.

Adding Bulgaria and Romania to the European club will give the EU a new neighbour, Moldova, and bring the bloc's total population to some 487 million.

Accompanying measures in the context of BulgariaвЂ™s and RomaniaвЂ™s accession

2006-09-26T22:55:00.000+03:00

Accompanying measures in the context of BulgariaвЂ™s and RomaniaвЂ™s accession
Throughout the one and half decade of preparations for EU accession Bulgaria and Romania have carried out an extraordinary reform process and they have gone through a remarkable transformation. Their accession does not compromise the functioning of the EU. However, there are still a limited number of areas where further progress is needed in the months leading to accession and beyond. Upon accession, the Commission will, if necessary, take accompanying measures to prevent or remedy any persisting shortcomings to ensure the smooth accession of both countries. These include safeguard measures, transitional measures, financial corrections on EU funds, and a cooperation and verification mechanism for the judiciary and the fight against corruption.
These measures complement the Commission's established tools to perform its role as guardian of the Treaties and to ensure the correct application of EU policies in all Member States. These include infringement procedures, competition policy measures, and [traditional] measures for the management of EU funds, and monitoring mechanisms, for example in the areas of Internal Market and Justice, Liberty and Security.
The Commission will make full use of these instruments wherever necessary to ensure the smooth accession of Bulgaria and Romania.

What are the safeguard clauses?

Safeguard mechanisms of last resort which are triggered either to prevent or to remedy particular problems or threats to the functioning of the Union. Any measures taken should be proportional to the corresponding shortcomings.

The EU legal order, which applies to all Member States, provides many safeguard measures in the various EU policies.

In addition to this, the Accession Treaty for Bulgaria and Romania provides for further safety nets to address potential accession related difficulties. The following three safeguards can be invoked up to 3 years after accession:

* a general economic safeguard clause; (Article 36)
* a specific internal market safeguard clause; (Article 37)
* a specific justice and home affairs safeguard clause, (Article 38)

These safeguards are the same as the ones included in the Accession Treaty of the Member States who joined on 1 May 2004.

What is the general economic safeguard clause?

The general economic safeguard clause is a traditional trade policy measure. It aims to deal with adjustment difficulties which an economic sector or area in either old or new Member States may experience as a result of accession. Member States (new and old) may apply, during a period of three years after accession, for authorisation to take protective measures in order to remedy such economic difficulties. The European Commission may then decide such measures. They can be decided only after accession and shall not entail frontier controls.

What is the internal market safeguard clause?

If Bulgaria or Romania fails to implement internal market legislation with a cross border effect and this risks a serious breach in the functioning of the internal market, the European Commission may take safeguard measures. It may do so either upon its own initiative or on the request of a Member State.

Such safeguard measures may be taken until 3 years after accession, but they may be applicable beyond that date until the situation is remedied. The European Commission may modify, shorten or terminate the measures in response to progress. If necessary, the measures may be decided prior to accession and become applicable upon accession.

The internal market safeguard clause covers the four freedoms and other sectoral policies such as competition, energy, transport, telecommunication, agriculture and consumer and health protection (e.g. food safety).

The Commission will decide upon the measures on a case-by-case basis. The measures may limit the application of the internal market or cross-border EU policy in the given sector only as much as necessary to remedy the situation. Priority will be given to measures which least disturb the functioning of the internal market and, where appropriate, to the application of the existing safeguards in the EU laws and standards. The internal market safeguard measure applies exclusively to Bulgaria and Romania and not to the other Member States.

What is the justice and home affairs safeguard clause?

If there are serious, or imminent risks of serious shortcomings in Bulgaria or Romania in the transposition or implementation of EU rules relating to mutual recognition of judgements in criminal or civil law, the Commission may, after consulting the Member States, take safeguard measures. It may do so either upon its own initiative or on the request of a Member State.

Safeguard measures in this area may be taken until 3 years after accession, but they may be applicable beyond that date until the situation is remedied. Measures decided before accession would be applicable as from accession. If necessary, the measures may be decided prior to accession and become applicable upon accession.

The justice and home affairs safeguards are closely linked to the functioning of the justice system. Examples of areas covered are insolvency proceedings, proceedings on matrimonial matters and the matters of parental responsibility, uncontested claims, or the European Arrest Warrant.

Concretely, the Commission could temporarily suspend specific rights of Bulgaria and Romania under the EU laws and standards. For instance, it could enable current Member States to refuse automatic recognition and enforcement of certain civil and criminal judgement and arrest warrants in either Romania or Bulgaria.

What are transitional measures?

The Commission may, for three years after accession, prevent the export of Bulgarian or Romanian products which do not comply with EU veterinary, phytosanitary and food safety rules, to the rest of the EU.

To take a concrete example, the export of live pigs and pig meat products of Romania and Bulgaria to the rest of the EU will remain banned as long as the animal disease classical swine fever has not been eradicated. For instance, food safety in Europe can be guaranteed by the possibility to prevent the sale of unsafe products in the internal market. The Commission may add further food establishments to the list of those banned for three years after accession from exporting to the rest of the EU after accession. Those establishments which do not comply with EU standards can only sell their products on the domestic markets. By the end of this period, these establishments either have to be upgraded or close down.

In addition, there are also transitional measures which have been agreed during the accession negotiations, laid down in the Accession Treaty. They concern specific areas where either Bulgaria and Romania or the current Member States are allowed to not fully apply the EU laws and standards during a limited period after accession. These areas cover for example the free movement of workers, acquisition of land, road transport and some aspects of the environmental and agricultural EU laws and standards.

What are financial corrections on EU funds?

Upon accession, Bulgaria and Romania will benefit from substantial EU funds, in particular structural and agricultural funds. The Commission will ensure that these funds are properly managed. Any improper use of EU funds will lead to financial corrections. These may consist of delayed disbursements, reduction on future payments or recovery of funds.

For structural funds, the EU laws and standards provide four types of control that may lead to financial corrections. Firstly, every Member State needs to submit operational programmes which have to be approved by the Commission before any payments can be made. Secondly, if Bulgaria or Romania do not have adequate management, certification and audit authorities, no interim payments will be made. Thirdly, the disbursement of funds for the programmes can be interrupted, suspended or cancelled if the Commission suspects or detects cases of irregularities or fraud including corrupt practices. Finally, financial corrections can take place in case irregularities are found during the regular ex-post controls.

For agricultural funds, Member States are obliged to have accredited and efficient paying agencies to ensure the sound management and control of agricultural expenditure. Secondly, Member States are also required to operate an integrated administrative and Control system (IACS), for the direct payments to farmers and parts of rural development expenditures, in order to avoid for example fraudulent practices and irregular payments. Thirdly, if Member States fail to operate such control systems properly, the Commission decides ex-post on financial corrections through the annual financial controls. Finally, if the Commission concludes that the funds are not spent according to the rules, the Commission may suspend or temporarily reduce the payment of advances, on a case-by-case basis.

In addition to these mechanisms for agricultural funds applicable to any Member State, the Commission has introduced specific rules for Bulgaria and Romania to address the risk that their IACS will not function properly as from accession. The funds covered by IACS present around 80% of the agricultural funds and concern direct payments to farmers and rural development expenditure.

This additional mechanism gives the two countries time to complete the necessary work on a properly functioning IACS. The Commission will closely monitor the situation in 2007. In case of systemic problems with the management of EU funds, the Commission will later in 2007 decide whether to withdraw provisionally 25% of the payments covered by IACS. During the annual ex-post controls, the Commission decides whether to maintain the reduction.

What is the cooperation and verification mechanism for the judiciary and the fight against corruption?

The Commission will establish a mechanism to cooperate and verify progress within the reform of the judiciary and in the fight against corruption and organised crime after accession. This will be based on the Accession Treaty. Both Bulgaria and Romania shall report regularly on progress in addressing specific benchmarks. The first report should be submitted by 31 March 2007.

The Commission will provide internal and external expertise to cooperate and provide guidance in the reform process and to verify progress. The Commission will then report to the European Parliament and the Council by June on the progress made by both countries in addressing the benchmarks. The Commission's reports will assess whether the benchmarks have been met, need to be adjusted and may request further reports on progress if necessary. The mechanism will continue until the benchmarks have been met.

Should either country fail to address the benchmarks adequately, the Commission will apply the safeguard measures of the Accession Treaty (see above).

The Commission will adopt a Decision implementing and defining the modalities of this mechanism after consulting the Member States. It will enter into force on 1 January 2007.

Foreign tourist visits to Bulgaria up

2006-09-19T12:33:00.000+03:00

New statistics on the number of visits to Bulgaria by foreign tourists in the first half of this year sounded an encouraging note, but the downward trend in the number of German visitors is likely to continue next year.

Between January and July 2006, the number of foreign tourists coming to Bulgaria was just less than five per cent higher than the same period of last year, according to State Agency for Tourism figures. This represented visits by more than 2.8 million tourists in the first half of this year. Earnings from these foreign tourist added up to about 450 million euro.

The figures do not include people passing through Bulgaria in transit.

According to the agency, the largest number of tourists came from Greece, Serbia, Macedonia and Montenegro.

The sharpest increase was in the number of visitors from Ireland, 113 per cent, Romania 96 per cent and Norway 76 per cent. There was a 29 per cent increase in the number of Russian tourists, while there was solid growth in figures of tourists from the UK and Scandinavian countries.

However, there were declines in the numbers of visitors from Germany, by five per cent, and the Czech Republic. This was the first time in 15 years that tourists from Russia outnumbered those from Germany at the resorts of Albena and Slunchev Briag (Sunny Day).

It appears that the decline in German visitors may be ascribed to dissatisfaction with the level of service at Bulgarian coastal resorts and airports, by the deteriorating ecological situation, and by Germans having stayed at home this year because of the Football World Cup.

Tourism authorities said that the trend of a drop in the number of German tourists visiting Bulgaria would be retained in 2007.

Meanwhile, there is a new addition to SofiaвЂ™s four-star hotel market.

The Vega Hotel represents the first investment in the local tourism industry by air carrier Vega Airlines. The hotel is to target mainly business travellers for whose convenience it provides an 80-seat conference room. The hotel also has WiFi facilities.

The investor in the 77-room Vega intends to manage the hotel on his own.

Vega will share the four-star niche with the Hotel Central, Central Park, Festa Barcelo and Sky City, among others.

The Sofia hotel market offers ample choice of five-, three- and two-star hotel accommodation but the four-star segment is underdeveloped in comparison to these niches.

CEE on Bulgaria's Black Sea coast

2006-08-22T12:16:00.000+03:00

An increasing proportion of holidaymakers at Bulgaria’s Black Sea coast come from Central and Eastern European countries.

This is a change from the trend of the past 10 years. Until now, most of the increasing number of foreign tourists have come from the United Kingdom and Germany.

But 2006 may be described as the year of the return of Central European tourists to Bulgaria.

During Bulgaria’s communist era, thousands of Polish and Czechoslovakian tourists used to come to Bulgaria to take advantage of low-cost holidays made available as a way for Bulgaria to compensate for its share in trade among the “comrade countries” of the then Soviet bloc.

After the fall of communism, the economic crisis in Central and Eastern Europe led to a sharp drop in visits by Polish, Czech and Slovakian tourists.

Bulgaria’s tourism sector responded by seeking to attract tourists from Western Europe, mainly from the UK, Germany and Scandinavia.

While Bulgaria hoped that the influx of Western tourists would make up for the loss in domestic income, it emerged from statistics that tourists tended to visit as part of pre-paid package tours, meaning that most of the money went to tour operators in Western countries, and the tourists spent insignificant sums in Bulgaria - mainly on souvenirs.

Responding to this trend, Bulgarian business people rushed into building hotels and holiday villages all along the Black Sea coast. This resulted in numerous hotels that had to be filled with tourists.

Although the number of British tourists increased with every year, Greek and Turkish summer resorts provided strong competition, especially in prices and the quality of service.

After the expansion of the European Union to embrace several Central European countries, economic growth in these countries prompted Bulgaria to seek to attract tourists from them.

Bulgaria has an advantage in targeting this market, because many people over 40 in Poland, the Czech Republic and Slovakia have good memories about holidays spent in Bulgaria during the communist era.

Other sentimental advantages are a sense of a shared past, and a sense of Slavic affiliation.

This made it little surprise when, on August 11, Varna mayor Kiril Yordanov said that there were currently 100 000 Czech tourists on Bulgaria’s Black Sea coast.

Yordanov said that the number of Czech tourists would increase by the end of the season and would be bigger than last year. He was speaking at a meeting with outgoing Czech ambassador Petr Dokladal whose last official visit in Bulgaria before leaving office was to Varna.

A message similar to Yordanov’s came two weeks ago from Petar Zlatanov, mayor of Pomorie - 20 km north of Bourgas, who said that there was increased interest in tourism opportunities in the town among Czech, Polish and Hungarian tourists.

In November last year, the first secretary in the trade department of the Polish embassy said that Bulgaria had been continuously growing in popularity as a tourist destination among Poles. The embassy predicted that the number of Polish holidaymakers in Bulgaria would exceed 100 000 in 2006. Poles were satisfied with the ratio of quality to price offered to them in Bulgaria.

The northern neighbours are visiting too. Last week, Bulgaria’s State Agency for Tourism reported that 112 000 Romanian tourists had visited Bulgaria in the first six months of 2006. This was 76 per cent higher than the same period last year. Naturally Romanians preferred the closest summer resorts in the north. Albena summer resort alone expected 80 000 tourists from Romania by the end of the season. Bulgarian-language media reports said that restaurant and hotel staff were quickly learning Romanian language. For Romanians, Bulgaria main advantages are prices and proximity. Bulgarians welcome Romanian tourists because they are prepared to spend cash in local resorts.

A similar trend is evident with Russians. This season, National Board on Tourism data shows an increase of 15 per cent in the number of Russians visiting Bulgaria’s Black Sea. The quality of the services, the similarity of the language and relative closeness of the country is moving Russians to choose Bulgaria rather than Turkey or Greece.

As for Macedonian and Serbs, who in previous years topped the number of Central and East European tourists, their number this season has declined. One reason may be the development of the Dalmatian coast in Croatia and the economic state of the two countries.

By Petar Kostadinov

Interest of British in Bulgaria's tourism opportunities persists

2006-08-22T12:14:00.000+03:00

It appears that nothing can spoil the interest of UK holidaymakers towards Bulgaria, as their number continues to grow despite the recent terrorist threat on London.

The sudden critical circumstances resulting from the terrorist threat against the UK and the US have not caused any cancellations of UK package tourist bookings for Bulgaria, Balkan Holidays executive director Antoaneta Todorova said on August 11, quoted by the press office of the National Tourism Board (NTB).

She believes that a better assessment of the effect of the threat on tourism can be made after the situation normalises.

Sofia Airport executive director Plamen Stanchev said the situation at the airport was normal and under control. Security services strictly follow the guidelines given by carriers British Airways, Bulgaria Air and Hemus Air. All three companies fly to and from London. According to Stanchev, airline operators make timely decisions and advise passengers of any flight changes in due course, thus avoiding unnecessary tensions at Sofia Airport.

The NTB will stay in touch with the World Tourism Organisation in order to update Bulgarian travel companies about measures to offset the effect of the crisis in the most seriously affected travel destinations.

The NTB sent a letter to British ambassador to Bulgaria Jeremy Hill, saying that its members share the concern of Brits over the London events and over the inconvenience the events have caused to travellers, and support the measures taken to prevent terrorist acts.

The organisation expressed its readiness to help overcome the crisis situation and to ensure the comfort of UK tourists coming to Bulgaria and Bulgarian tourists visiting the UK.

Meanwhile, the hot weather in Bulgaria encourages the flourishing 2006 summer season, which continues at full speed.

Bulgarian tourist company Riviera expects the number of tourists serviced in Riviera tourist centre in the summer season to hit a record 21 000 people, executive director Lyudmila Nenkova said on August 10.

After completing the construction of Riviera Beach 1 and 2, the company will construct no more new hotels, Nenkova said.

Riviera will invest substantial money in the renovation of the Oasis Hotel, which was built 50 years ago. The company plans to transform it into a deluxe boutique hotel, but to keep the building, since it is unique for the Black Sea region.

On August 10, Riviera tourist centre marked three anniversaries – 15 years since the foundation of Riviera company, 30 years since the construction of the Imperial and 50 years since the launch of the oldest hotel in the complex, the Oasis.

Since Riviera was privatised in 1998, it has invested more than 50 million leva (25.5 million euro) in the resort.

The new hunting season was officially launched on August 12 in Bulgaria.

Bulgarian hunters expect a slight increase in hunting tourism revenue through the 2006-2007 season.

A total of 3.1 million leva from trophies and fees entered the state budget in 2005, a report by the National Forestry Directorate (NFD) showed. Revenue is expected to grow if no ban on small game hunting is imposed, as it happened last year due to bird flu outbreaks.

NFD raised the hunting certificate tariff by 75 per cent in June 2006. The money is not invested in sustaining game population but enters straight into the state budget, Bulgarian hunters say.

The spring game count registered a slight increase compared to 2005.

Bulgarian hunters also complain of the mounting poaching, against which no sufficient measures are taken. A total of three flagrant pouching cases were detected in Aitos, east Bulgaria, and in Gabrovo and Levski, central Bulgaria.

By Ivan Vatahov

Bulgaria Welcomes Foreign Bargain Hunters

2006-08-16T11:28:00.000+03:00

Anybody who's anyone in Europe these days is buying a vacation retreat. And they're not doing it close to home, but in Bulgaria, Croatia and Morocco, the Newsweek writes in an article, entitled "Room with a View".

The trend is particularly pronounced among northern Europeans looking for a place in the sun, says the author Stryker Mcguire.

"Along the Mediterranean "sun belt," stretching from the Greek islands to southern Iberia, second homes make up 10 to 15 percent of total national housing stocks. The strongest markets are, unsurprisingly, France and Spain, the world's first and second largest tourist destinations. But demand is so strong (and the investment prospects so promising) that the hottest hot spots today are countries like Croatia and Bulgaria."

750,000 Britons now own second homes on the Continent, a privilege which is no longer only for the rich, show estimates of Caxton FX, a foreign-exchange company in London.

The Brussels bureaucracy that so many Europeans love to hate is one of the great driving forces behind the boom, the Newsweek argues.

"Aside from facilitating travel and allowing Europeans from one country to buy property in another, the EU has doled out hundreds of millions of euros in "structural funds"- "money that goes to new members for infrastructure improvements. This largesse has transformed countries that once lagged behind their neighbors."

Newsweek describes the second-home phenomenon as the European Dream come true, but claims that the establishment of a United States of Europe will never come into being because of anti-EU sentiment. The author claims that the drivers behind second-home ownership are personal - they're about family, fun and potential financial gain.

"The local people welcome foreigners because they bring money," says Boyko Borissov, the mayor of Sofia, Bulgaria. "I don't see any clashes or obstacles."

Particularly welcoming are would-be home sellers who've seen their properties rocket in value as Western bargain hunters head farther east. In the past year alone, prices in Bulgaria have climbed at least 25 percent while remaining among the lowest in Europe.

Newsweek

expatinbulgaria.com

2006-08-08T10:42:00.000+03:00

www.expatinbulgaria.com - the first virtual portal for foreigners in Bulgaria

I don’t understand
“Ne govorya bulgarski” (I don’t speak Bulgarian) was one of the first things my foreigner friends told me they learned when they came to Bulgaria (apart from “edna bira” and “smetkata”). These three phrases – I don’t speak Bulgarian, a beer, and the bill – automatically marked them as outsiders, especially when they decided to stay in smaller Bulgarian towns and tried to make a living there.

The communication problem is real when it comes to meetings of various cultures. Sure, it is interesting to see what people on the other side believe and think, but the gap can sometimes get too wide.

A retired British couple living in Bulgaria’s village Trustikovo said that “locals are friendly, but our grasp of the language is limited, although we are still trying. It would be pleasant to meet up with English-speaking people living here permanently to swap experiences, help, books, etc.”.

“I really felt the need to communicate with others of an English origin but living ... in Dolna Banya has left me little choice in the matter. I still feel the need to this day, but I’m getting along fairly well in my own opinion,” said another British expat living in Bulgaria.

So how does a British family in the village of Trustikovo or a man in Dolna Banya get to know other British living in Bulgaria’s distant and small populated areas?

The answer is virtual
When communication is hindered because of distance and isolation, computers always come in handy. All you need is internet connection and voila, you have made it to the world of virtual friendship and information exchange.

A number of online communities serve the needs of different user groups. The web provides for division in special interests, age, location, profession and many others to make communication easier. It enables the meeting of similar-minded people and information exchange on specific topics that interest all.

According to a 2003 Berkeley survey on the type of activities in which people engage while online, most users were interested in communicating via e-mail, getting news, searching for information or surfing the web for fun.

Virtual communities offer these options in one place. According to a report on virtual communities and why these attract people, users feel the need to belong to a group and be part of a society, regardless of whether actual or virtual. The two most common reasons people gave for joining a community were access to information and social exchange and interaction.

Type “expat community” into Google and 3 660 000 results appear for websites from various countries serving the needs of their expat communities. Starting August 1 2006 the counter would show 3 660 001, as a new virtual space serving the needs of the expat community in Bulgaria was made public.

www.expatinbulgaria.com
This latest product of Sofia Echo Media aims to provide expats in Bulgaria with the chance to meet each other online.

www.expatinbulgaria.com is a virtual community and information portal giving foreigners all the information they need about Bulgaria. It also aims at helping them get the best from their stay in the country by listing the best entertainment spots, restaurants, shops, theme parks, pubs and clubs.

Apart from information, the website offers foreigners the chance to find friends and search for activity partners, compatriots and foreigners living around the same location. The idea is to overcome distances and help people get in touch with each other using their mouse and keyboard.

Increasing number of foreigners choose Bulgaria as the place to spend their vacations, to build their second home or to retire. With the country’s upcoming EU entry, the number of people travelling to Bulgaria is expected to increase.

Another noticeable tendency is that foreigners look for residence in some of Bulgaria’s smaller towns and villages. As a number of people have said, this enables them to experience traditional Bulgarian. But it also makes life for foreigners somewhat difficult. The language barrier comes first. This leads to lack of information and confusion.

Statistics show that 4.36 million foreigners visit Bulgaria for tourism purposes only each year. Data of the National Statistical Institute (NSI) for 2005 shows that a total of 7.28 million foreigners visit the country annually. The majority enter the country as tourists, followed by people visiting friends and those on business.

These numbers spurred the idea for www.expatinbulgaria.com. The information the website provides is of use to foreigners residing permanently in Bulgaria, to tourists, to foreign students in the country and to everyone else with interest in Bulgaria.

So what’s the fuss all about?
www.expatinbulgaria.com is divided in three parts, each with its purpose to inform, entertain and help users communicate.

The information aids foreigners with their arrival in Bulgaria, to overcome visa requirements, settle in the country, start their business activities, have fun and, above all, meet other people.

Users of www.expatinbulgaria.com have the option to rate the information, write messages, join the discussion forum and post there. In these ways, the website provides users with the chance to add a personal dimension to the dry official responses to all issues of concern. The basic principle on which the site functions is expats aiding expats... and having fun together.

Starting from the beginning, www.expatinbulgaria.com helps you learn more about visa and insurance requirements, entering Bulgaria, all necessary formalities to make your stay legal, how to use the driving licence from your country of origin, in which schools to enrol your children and what banks and exchange bureaux offer reliable services.

Moving on to the more fun bits, www.expatinbulgaria.com helps you enjoy the best entertainment spots in different Bulgarian cities. You can also learn about shopping, religious services, sports halls and instructors, as well as theme parks and entertainment.

Tourism and property are two areas of high interest for the foreign community in Bulgaria, and as a result, the website gives them special attention. It explains all procedures related to the purchase of property, gives advise on prices, lists the best hotels in the country and provides a basic overview of hotels and destinations.

I want to meet...
Activity partners. Compatriots. The love of my life. Friends. Pen pals. All of these? www.expatinbulgaria.com gives this chance through its member centre. Once users register, they can start searching for other users, posting in the forums and enjoying all interactive features of the site.

This interactivity keeps the website far from static as its content changes with each new user that joins the community. The forum of the website is the place where expats aid expats, warn them of suspicious practices, suggest good hotels and restaurants or just chat and share opinions on various topics.

www.expatinbulgaria.com aims to be the one place on the net that gives a complete package for its users. Just go to the address, register for free and take your place in this virtual community.

Ne govorya bulgarski... but I understand
So now you can easily type whatever concerns you in the www.expatinbulgaria.com search tool and get the answers you need about Bulgaria. Our team hopes that communication will become easier, though “Ne govorya bulgarski” would probably still be the phrase you use very often before you become acquainted with the Bulgarian way.

So, meet you there! Come, become a member and start exploring Bulgaria in a new way. Just don’t forget your laptop when you pack your bags and leave for your stay in Bulgaria.

Bulgaria golf

2006-08-08T10:40:00.000+03:00

The eastern European nation of Bulgaria is not well-known for its golf – at present, there are only three courses, although they are all good quality 18-holers.

However, all that is about to change as more courses are currently being constructed and others are being designed by famous golfers Ian Woosnam, Jack Nicklaus and Gary Player, Easier Property News reports.

It is expected that in 15 years' time there will be around 40 golf courses in Bulgaria, with the Black Sea area likely to be particularly popular.

The existing courses are Ihtiman, Sliven and St Sofia Golf Club and Spa, the latter just 15 minutes away from the country's capital, Sofia. Flights from London to Sofia can be had for under ?150 with Avon Travel, British Airways and others.

Bulgaria recently topped a list of up and coming destinations for next year, which was compiled by travel website Opodo. It beat Russia and Morocco to take the number one spot.

The country is becoming increasingly popular with British skiers.

Bulgaria's developers preparing for strong winter season

2006-08-08T10:37:00.000+03:00

Seemingly unaware of the summer heat, Bulgaria’s developers are preparing for a strong winter season.

Bulgarian company Prima Invest BG has started the construction of a 15-million euro ski resort in Rila Mountain, which could take four years to complete, a local municipal official said.

The Kartala ski resort will target not only locals but also tourists from the European Union and neighbouring countries Greece and Macedonia, Blagoevgrad deputy mayor Georgi Milev said.

Construction of ski resorts in Bulgaria, where the tourism industry is a major driving force for the economy, is set to rapidly develop over the next years. Currently, only 15 per cent of the country’s annual tourism revenue comes from winter resorts.

“The ski resort is planned to have 45km of ski runs and 15km of ski lifts and will be built in three stages,” Milev said.

He added that about three million euro will be spent on the first stage of the project, envisaging the construction of a 4.5km ski run with tow rope by the end of this year.

The next stages include building a hotel base with about 3000 beds and the remaining ski runs.

Kartala is located about 25km from Blagoevgrad.

The construction will be financed with own funds of Prima Invest BG, set up to implement the project and in which Blagoevgrad municipality is a shareholder, and borrowing from Bulgarian-American Credit Bank, Milev said.

Chepelare, another ski resort in Bulgaria, has borrowed three million leva from HVB Bank Biochim, a unit of Italian banking group UniCredit, for seven and a half years to finance road repairs, the bank said.

The small town in the Rhodope Mountains will use the money to repair streets and its central square, and to refurbish its park, HVB Bank Biochim said in a statement.

Five banks had offered to finance the project, which should be completed within two years, the head of the municipality’s finance department, Veska Dimitrova, said.

Bulgaria needs to improve its run-down roads in order to attract more tourists and foreign investments.

It is obvious, however, that the holiday-attractive nature of Bulgaria is also turning it into “the hottest European property destination” according to the UK real estate news website assetz.co.uk.

“With a range of beautiful landscapes spanning the cultured capital of Sofia and the ever-popular ski resorts of Bansko and Bovorets, Bulgaria is tempting more and more Brits with its endless buy-to-let possibilities,” assetz wrote.

And it seems many investors would do well to enter into the Bulgarian property market before its planned entry into EU membership occurs and prices are pushed higher.
Bulgarian ski regions such as Bovorets and Bansko are luring many Brits due to the great buy-to-let potential and quality European skiing facilities located in the 65km around Pirin Mountain. There is also scope for further development in these regions, particularly given the recent announcement that Bansko will install year-round skiing facilities, thus lengthening Bulgaria’s season.

Jeremy Casey, spokesperson for property firm The Right Move Abroad, said that given the relatively short length of the Bulgarian ski season, the key for investors was to select properties that are “very closely situated to the ski gondola”.

And should investors hit the nail on the head in the Bulgarian market, there are serious returns to be made on buy-to-let properties – prices in the skiing area of Bansko alone have increased by 30 per cent in the last three years, assetz wrote.

Ivan Vatahov

Black Sea briefs

2006-08-08T10:33:00.000+03:00

Bigger business
On July 27, the US company Laguarda.Low Architects LLC was chosen to design the concept project of the shopping mall to be built in Bourgas. The choice was made after a competition was organised by the investor in the project, GIR-2, and the consultancy company Colliers International. Colliers is the exclusive consultant of the project in developing the concept of lending the market areas of the mall. World expert in interior design Leigh Speakman will consult with architects and experts in developing the shopping mall. The mall is scheduled to be opened at the end of 2008 and the investment is estimated at 30 million euro. The mall is to be situated in the very heart of Bourgas at Troikata Square.

Bounding along
Average rental levels on the retail market in Bourgas stand at 14 euro/sq m a month, according to data from the Bulgarian-language real estate website www.imoti.bg. Prices depend mainly on the size and position of the retail unit. The data shows that retail spaces in Bourgas are offered mainly in new buildings in the central parts of the city, as well as in the suburbs. Rental levels in high-street shopping centres across the country are catching up with those in the capital Sofia. However, the retail investment market continues to develop fastest in the capital. Supply of retail space in the Sofia currently stands at 1500 units, 600 of which are located in the central parts of the city.

Beach depravity
A Spanish tourist robbed a Bulgarian woman at Slunchev Bryag, Bulgaria’s largest summer resort, on July 27. The 37-year-old woman was enjoying herself at the Mania disco club in the resort when she noticed that close to 135 euro were missing from her purse. Police soon caught the robber – 20-year-old Gerardo Taboda – who had rented a villa near the resort. Taboda was born and currently lives in Switzerland. He will be fined, though the maximum penalty is 250 euro according to the Foreigners Law. A day before, a Macedonian tourist robbed a Finnish woman, taking her cash, digital camera and video camera. The police arrested him and the woman received back all that he had taken.

Brazen theft
Nearly 15 000 tourists on vacation at Bulgarian seaside resorts Sveti Vlas and Elenite, near the Slunchev Bryag summer resort, were left without electricity on July 24 after a theft of electrical wires. Local authorities needed a few hours to take control over the situation and the electricity supply was restored. The electrical wire was stolen in the area between Sveti Vlas and Slunchev Bryag. The location of the power transmission line impeded the work of emergency teams. A police investigation was launched. Stealing electrical wires is not an unusual crime in Bulgaria. Wires are stolen for the copper of which they are made. Copper is a valued metal in scrap yards and usually is very well paid.

Tourists number in Bulgaria will double until 2016

2006-08-04T10:29:00.000+03:00

Bulgarian tourism still develops with relatively high rate and meanwhile tourists from the traditional markets like Germany and United Kingdom continue drop away, the Center for Economic Development (CED) announced.

The drop trend from these nationalities was confirmed by the German biggest tour operators. They reported serious fall amounting at 15% compared to last year’s levels.
The long-term forecast for world tourism development made by the World Tourist Organization also doesn’t predict sparkling future for the Bulgarian tourism, CED’s analysis said.
It is doomed to be oriented towards low-solvent categories of European tourists.
Until 2016 the tourists’ number will double but earnings are not to rise significantly.
Bulgaria has developed various tourist products such as spa and wine attractions and centers. These tourist forms advance is a good alternative for the mass and cheap summer and winter tourism in Bulgaria, CED experts added.

BULGARIA'S TOURISM NEEDS FURTHER PROMOTION ABROAD

2006-08-01T11:17:00.000+03:00

To promote its tourism opportunities Bulgaria needed to open tourism bureaus abroad, as well as to set up information centres in other countries, participants in the summit aimed at the creation of national strategy for tourism development said.

Investor interest in Bulgaria's tourism sector was high, Bourgas deputy regional governor Georgi Nikolchev said. Since the sector was important for the development of Bulgaria's economy, a strategic development plan was needed, Nikolchev said.

Representatives of Bulgarian tourism agencies said that international promotion was crucial. Company representatives said that the private sector was ready to aid state institutions in this project.

Tourism information centres would be needed according to resort municipal representatives.

Bulgaria already had developed several tourism opportunities like ski and seaside tourism and now needed to look for other areas. Among these were cultural, religious and alternative tourism, Bulgarian news agency BTA reported.

Soliciting complaints

2006-08-01T11:16:00.000+03:00

UK solicitors have embarked on a warning campaign, targeting grumpy tourists who have spent their summer vacation in Bulgaria.

This was reported on June 23 by the Web Wire news service.

The solicitors claim to have received requests for compensations from people reporting food poisoning, questionable hygiene standards, filthy rooms, rude staff and a porn moviefilmed in full view of guests and children at a “family” hotel in Elenite resort.

The solicitors received requests to claim compensation from people who stayed at two hotels, the Royal Bay Hotel and the Royal Park in Elenite. The complaints include food poisoning, questionable hygiene standards, filthy rooms, rude staff and ruined holidays.

“Both the Royal Bay and the Royal Park Hotel were in the news last year for similar food poisoning and poor hygiene standards, and it appears that those lessons have not been learnt. We successfully handled over 30 compensation claims for British tourists who stayed at the same hotels last year,” said Andrew Morton, head of the travel litigation department at Manchester law firm Pannone LLP, as cited by WebWire.

“Anyone who has been to these hotels and suffered illness or had to endure second-rate facilities and service should contact a solicitor immediately. Any photographic or video evidence is especially useful to support claims for compensation,” he said.

A totally unexpected and unwelcome addition to a “catalogue of holiday disasters” at the hotels was reported after children saw a porn movie being filmed on a balcony at the Royal Park Hotel.

The Crawford family from Londonderry, Northern Ireland, said the film shoot featuring nude models simulating sex took place in full view of the hotel guests.

Otherwise, tour operators remain quite optimistic about Bulgaria’s tourism sector for now. Tour operator Neckermann, part of Thomas Cook, expected to double the Bulgarian holiday packages sold in Poland and Hungary this year, the company’s local representative Hristo Kolev said on July 20.

Kolev said the number of Polish holiday-makers that will visit Bulgaria’s Black Sea resorts via Neckermann is seen at 2500 while that of Hungarians is seen at 3500.

Thomas Cook has registered a doubling of French bookings for Bulgaria’s Black Sea resorts this summer, said Kolev. A total of 6000 French tourists have booked Bulgarian holidays so far.

Bookings at the Thomas Cook unit in Belgium are not as robust, posting a slight two per cent decline year-on-year. The company expects that 15 000-16 000 Belgians will book holidays in Bulgaria this year.

The Dutch market is holding steady year-on-year with about 3000 bookings.

Thomas Cook’s German division is emerging as the only tour operator that will post an increase of bookings for Bulgaria this summer season. The company expects to sell Bulgarian holiday packages to 150 000 Germans this year, up 20 per cent over 2005.

Ivan Vatahov

Will it be Sand, Snow or City?

2006-07-27T10:55:00.000+03:00

As emerging property markets go, few can rival the hype or promise of Bulgaria, three areas of which are now being heavily marketed to British buyers.

The first is Sofia, one of the oldest capitals on the continent with plenty of classic central-European architecture - the beautiful buildings which predate the 20th century alongside the less appealing Communist-era designs. But it is its future that is most attractive to investors.

"If Bulgaria gets EU membership - widely tipped for sometime in the next three years - the city will become a viable option for firms to base their central European HQs. That'll be a major benefit to the economy and demand for homes" says Mike Wellings of Winslow Developments, a British firm that has built apartments in the city.
Typical properties there include the Cherkonova apartment block, where units are priced at ?913 per square metre - relatively low for the capital - with specific properties starting at ?64,225 (The Right Move Abroad, 020-8453 7516).

A second investment area is the ski region, chiefly the town of Bansko, although Pamporovo and Borovets are also now popular.
Jeremy Casey of The Right Move Abroad says the ski season is only four months long so the key is to get homes "very closely situated to the ski gondola".

But Bansko in particular is attempting to lengthen its tourist season by installing year-round facilities in addition to the 65km of Pirin Mountain skiing.

Developments are improving in quality, too, drawing in better builders and established estate agents. For example, Hamptons International is marketing White Firs, a scheme of predominantly two-bedroom apartments most with uninterrupted views of the slopes and overlooking the golf course. (From ?75,000, 0870 428 9081).

But while there remains general confidence that Sofia and Bansko will be good long-term bets, experts are more circumspect over Bulgaria's third investment region - the Black Sea resorts in the north of the country.

Some say the large-scale development of the past decade is a sign of a maturing market. "The coast has had a tremendous amount of development which I think will harm the rental market for the next couple of years," warns Casey. But there is a different view. "The right location on the coast will offer both excellent capital gains and summer rental returns, but the season is restricted to the summer months only," suggests Robin Barrasford of Barrasford and Bird.

One scheme is the St Vlas Marina at Dinevi, regarded as one of the most upmarket and developed parts of the area. Prices start at ?32,000 (Barrasford & Bird, 0845 600 1871).

But whichever region you may choose, Bulgaria does still hold traps for the investor who neglects to do adequate research and fails to visit.Maverick estate agents still exist, and there are many other pitfalls. But rewards may be high for those brave enough to invest - property prices in the main Bansko area have risen by 30 per cent in three years. It's all to play for - if you pick the right location.

Tips for investors

* Tax on purchases is not fixed, meaning investors face unexpected costs.

* Investors must set up a company before they can buy a second property or land in Bulgaria.

* Ensure contracts include guaranteed rental yields if they are offered by developers and agents.

* Play the long game and do not rely on short-term capital gains.
* Many holiday operators are switching from more markets like Spain and Portugal to cheaper locations like Bulgaria.

By Graham Norwood
The Independent

Bumper Year in 2006

2006-07-26T13:40:00.000+03:00

Bulgaria's Tourist Trade Set for "Bumper Year in 2006"

Bulgaria has seen its popularity among tourists rocket in recent years and the country's tourist trade looks set to see another bumper year in 2006, forecast property investment experts from leading UK company Assetz.

"With the growth of low-cost travel helping to boost the boom in travel around Europe, Bulgaria has been a major beneficiary as travellers have looked to the country as the perfect destination."

According to Assetz agency Bulgaria is set to see a boost in visitor numbers throughout the course of 2006 because they are able to enjoy the warm weather and relatively cheap economy of the country.

The experts note that British Airways launched two evening flights to Varna earlier in the year, but soon had to add further flights to the airport following a major growth in interest from customers in the UK.

"British Airways has found that the routes are so popular that it is now opening them up all year round. Flights between Varna and Gatwick will now operate throughout the year into the foreseeable future, as the company recognises that more people want to travel to Bulgaria than ever before. With EU entry expected in 2007, that demand is only likely to increase."

The British experts claim that Bulgaria is one of the destinations that reap the benefit of global air market growth and meet the demand of the "more adventurous British public".

They expect the country to become even more popular following its entry into the European Union (EU) next year.

Bansko Bulgaria Is Newest Favourite With Skiers

2006-07-26T13:38:00.000+03:00

The Bulgarian ski resort of Bansko is shaping up to be the big hit of the 2006-2007 winter ski holiday booking season.

The Bulgarian ski resort of Bansko is shaping up to be the big hit of the 2006-2007 winter ski holiday booking season.

Ski holidays in Bansko became available for the first time last winter on the online holiday booking website www.skiing-direct.co.uk and proved incredibly popular.

Bookings for the winter ski holiday season have just begun in earnest and Bansko is already looking to be one of the most popular European ski resorts.

Ski-Direct have seen bookings for Bulgaria ski holidays grow 5 years in a row. This is down to the annual developments of ski and apr?s ski facilities.

Paul Reeve, Sales and Marketing Manager for Ski-Direct believes the appeal is mainly due to the wide availability of cheap package ski holidays in Bulgaria, combined with the increased investment by the Bulgarian tourist authorities in Bulgarian ski resorts as they bid to host the 2014 Winter Olympics.

Paul says: "Bulgaria has built up a great reputation as a low-cost holiday choice over the last few years. Bansko has great slopes, particularly for beginner skiers and for snowboarders and we're seeing a word-of-mouth effect boosting the number of holidaymakers picking Bansko ski holidays."

Kim Marklew Communication Coordinator for Ski-Direct says that Bulgaria is a great all round value for money ski holiday destination whether you are an experienced skier or a complete beginner.

"It offers excellent facilities and value for money with a bottle of local beer costing from as little as 80p, and a three course meal from ?6.00. Bansko is is more than just a ski resort. It offers state of the art ski equipment, and last winter season added another two new four chair lifts, a drag lift, 10km of marked ski runs and a snowboarders half pipe facility."

Bulgaria enjoys the best of both worlds, being an increasingly popular country for beach holidays, as well as for ski breaks.

Paul says: "Looking at summer holiday bookings, Bulgaria is a strong challenger to Spain and Turkey as a beach holiday destination offering fantastic value for money and facilities that suit people with children, as well as groups of young people looking for sun during the day and plenty of places to go in the evenings."

UK Winter Sports fan can now fly from Gatwick, Manchester and Edinburgh airports with the new ski holiday deals on offer for Bansko from Ski-Direct.
Bansko is challenging the popularity of the more established resorts of Borovets and Pamparovo due to its excellent ski runs, which are praised for their variety and rugged beauty.

The winter sports season at Bansko lasts from December to mid-April. Conditions are still good until mid-May for back-country skiing.

100 million Euros were invested in the town’s state-of-the-art ski facility, designed specially for the Pirin Mountains that surround Bansko in southwest Bulgaria.

A short hot summer and long mild winter with constant snowfalls produce excellent skiing conditions, but taking no chances, artificial snow is used in warmer weather to produce uniformly excellent runs – one of the only places in the world where this is possible.

The town of Bansko itself is unspoilt and should continue to stay that way - it is a UNESCO Natural World Heritage site.

Bansko is approximately 3 hours drive from Bulgaria's capital Sofia and continues to be a popular destination after the snow thaws, when hiking and rock climbing take over from skiing.

The Ski-Direct team have over 100 years combined experience of skiing and selling ski holidays. Ski-Direct is a member of the Co-operative Travel Trading Group.

Bulgaria a hot tourist destination

2006-07-25T08:48:00.000+03:00

Bulgaria has seen its popularity among tourists rocket in recent years and the country's tourist trade looks set to see another bumper year in 2006.

With the growth of low-cost travel helping to boost the boom in travel around Europe, Bulgaria has been a major beneficiary as travellers have looked to the country as the perfect destination. Visitors are able to enjoy the warm weather and relatively cheap economy of the country and these conditions are set to see a boost in visitor numbers throughout the course of 2006.

British Airways launched two evening flights to Varna earlier in the year, but soon had to add further flights to the airport following a major growth in interest from customers in the UK. Demand among Britons for travel to regions such as Spain and France has always been strong, but as the global air market becomes more competitive and the range of options available to customers becomes greater, the British public is becoming far more adventurous. Bulgaria is one of the destinations reaping the benefits of this growth and it is anticipated that the country will become even more popular following its entry into the European Union (EU) next year.

British Airways has found that the routes are so popular that it is now opening them up all year round. Flights between Varna and Gatwick will now operate throughout the year into the foreseeable future, as the company recognises that more people want to travel to Bulgaria than ever before. With EU entry expected in 2007, that demand is only likely to increase.

Meanwhile, Bulgaria itself is continuing its preparations for accession to the EU by pressing ahead with the infrastructure developments the country needs to cope with an increase in tourism. On Monday July 24th, the mayor of Sofia turned the first sod of a new road in the country's capital. This road link will eventually link Sofia's Brussels Boulevard with a new terminal being established at the city's airport. Organised by the country's transport ministry, the event demonstrates the Bulgarian government's commitment to improve the quality of infrastructure in the country. The new terminal will be completed in December and it is planned that, by the time passengers are arriving at the terminal, the link will be in place to bring them directly into the city of Sofia.

With all this infrastructure development as well as the increasing demand from around the world – and particularly from UK holidaymakers – Bulgaria's position as one of the property development hotspots of the world continues to ring true.

Bulgaria Seeking 'Clear' EU Answer

2006-07-19T10:08:00.000+03:00

Bulgaria is proceeding “full steam ahead” with reforms ahead of a critical Brussels report on Sofia’s readiness for EU membership, the country’s foreign minister has insisted.

Ivaylo Kalfin has trailed “some promising results” as Bulgaria hands in final reports to the European commission before the summer break.
On September 26 European enlargement commissioner Olli Rehn will tell Sofia whether enough progress has been made for Bulgaria to join the EU on time on January 1 2007.
Unless Bulgaria improves its track record on key judicial and administrative reforms, entry could be delayed until 2008.
Kalfin argues that after the commission deferred judgment on Bulgaria and Romania in May there is “no room for postponement” in September.
“We expect the report will clearly say what will be the date. I hope there will be no reason to activate delays,” he said.
“There won’t be compromise. We expect a very clear report on achievements and shortcomings. We will make sure shortcomings are not too much to trigger safeguard clauses.”
If Rehn decides that Bulgaria has made sufficient progress to join on time - perhaps with caveats in some areas - then Sofia’s EU entry will proceed as planned without further debate.
But if a negative report is made then EU member states must decide - by unanimity - at a meeting of Europe’s foreign ministers on October 16.
The issue of delaying Bulgaria’s entry would then be a hot topic at the Lahti informal summit of EU leaders on October 20.
The EU executive’s May 2006 progress report on Bulgaria points to institutional failings in a key political area - justice and home affairs.
Six EU “red flags” in sensitive areas police cooperation, the fight against organized crime and against fraud and corruption have triggered frantic work in Sofia.
Changes to Bulgaria’s constitution are to be rushed through the national parliament in September and judicial reforms have continued at a fast pace.
“We will have to work quite hard. There is still work to be done,” said Kalfin.

The article was originally published by The EU Politix

VAT alleviation applicable only for foreign tourists in Bulgaria

2006-07-18T09:52:00.000+03:00

Bulgarians will soon be paying more for spending holidays in their own country than the millions of foreigners who visit.

This will happen after Parliament approves a seven per cent value added tax (VAT) rate on hotel accommodations for organised trips. The rest of the holiday makers will be levied 20 per cent VAT on their hotel stay, which is the uniform VAT rate in Bulgaria. As it mostly occurs, though, only foreigners come to this country as part of organised trips: therefore, the alleviation will only apply for them.

Even now foreigners pay less for staying in hotels at the Black Sea coast. They prepay packages of services, including hotel stays of only a few euro for a three-star hotel. Meanwhile, Bulgarian holiday makers are forced to pay more money for exactly the same set of services outside a package.

The unusual discrimination is just one step from becoming a fact after being approved by the parliamentary committee on budget on July 6. Now Parliament only has to vote on it to turn it into an active legislation.

It is not clear yet whether the food sold in hotels will be levied with seven per cent VAT, too. This will be defined in next year’s Budget Act. Before that, the text will be co-ordinated with the European Commission.

Earlier plans by the Finance Ministry envisaged the introduction of the uniform 20 per cent VAT on all tourist services, which was seen by the sector as a serious threat to its further development.

Currently, Bulgaria charges only seven per cent VAT on all tourist services. However, in line with its commitments to the EU, the country will have to raise that rate to 20 per cent, which is the uniform rate for all goods and services in Bulgaria.

The highest VAT charged on tourist services in the EU currently can be found in Italy and Austria, but even these countries it is much lower, at only 10 per cent. Bulgaria’s direct competitors, like Spain and Greece, levy seven and eight percent VAT, respectively. Cyprus and Latvia enjoy the lowest VAT in tourism – only five per cent.

For the past three years, the tourism industry in Bulgaria has developed rapidly, becoming a leading sector in terms of revenue. Figures showed that 2005 international tourism revenues (excluding transport) were about two billion euro, an increase of about nine per cent on the previous year.

Meanwhile, the World Travel and Tourism Council (WTTC), an international organisation of travel industry executives, does not see Bulgaria graduating over the next decade to the ranks of destinations popular among big-spending tourists. This is shown in a research paper that covers 174 countries in the period 2006-2016.

The WTTC anticipates that Bulgaria’s tourism and travel industry will maintain its current growth rate with no major ups or downs.

Bulgaria is ranked 43rd in terms of travel and tourism economy GDP and 105th in terms of the 10-year growth forecast.

Bulgaria is seen as a non-mover over the next decade, continuing to account for three per cent of Central and Eastern Europe total demand.

The WTTC forecasts tourism revenues of $4.57 billion (3.6 billion euro) for Bulgaria in 2006 or 16 per cent of GDP.

The data cited in the research paper suggests that Bulgaria, together with Romania, will continue to be the region’s top destination for budget travellers.

The number of foreign tourist arrivals will double to 12 million by 2016 but that would not result in a significant revenue growth for the industry.

Foreign tourists spend $310 on average during their stay in Bulgaria. That figure is expected to reach only $460 in 10 years, leaving the country trailing badly behind Greece, Turkey and Cyprus.

Investment in the Bulgarian travel and tourism industry will increase gradually from $868 million in 2006 to $1.8 billion in 2016, accounting for 14-17 per cent of overall investment in the country.

Ivan Vatahov

FOREIGN TOURIST VISITS TO BULGARIA TO INCREASE THROUGH INFRASTRUCTURE DEVELOPMENT

2006-07-17T11:30:00.000+03:00

The number of foreign tourist visits to Bulgaria could increase twice if the Cabinet managed to execute the planed national infrastructure development strategy.

The strategy plans developments for the period until 2015, Darik Radio reported. If all planned projects were carried out, the number of foreign tourists in Bulgaria could reach 10 to 12 million people, Darik reported.

Annual turnover could also increase to 10 billion euro, head of the Bulgarian Hotel and Restaurant Association (BHRA) Blagoy Ragin said.

To attract increasing number of foreign tourists Bulgaria needed to invest in road infrastructure, airport concession and environmental protection, tourism sector representatives said.

Prime Minister Sergei Stanishev acquainted tourism sector representatives with the strategy, saying it was divided in a short-term and a long-term part. By the end of the first phase in 2009, the Cabinet planned to invest 5.5 billion euro in infrastructure development, Darik said.

Bulgarian Resorts Competitive for All Seasons

2006-07-13T13:18:00.000+03:00

Foreign holidaymakers have been rediscovering Bulgaria as a tourism destination, making the tourism industry the country's biggest foreign exchange earner.

It has grown also to one of economy's largest - albeit seasonal - employers, the Financial Times wrote on Wednesday releasing an extensive 4-page report on Bulgaria.

Tourism accounted for as much as 13% of gross domestic product in 2005 and earnings from travel services have been growing steadily since 2001. The number of visitors is also rising - from 3.2 million in 2001 to 4.8 million in 2005.

With one of the world's highest concentrations of hot mineral springs and a centuries-old tradition of herbal therapy, Bulgaria has plenty of potential for developing "wellness" tourism, the report said.

FT quoted Mario Al-Jebouri, the new head of the State Tourism Authority, as acknowledging the country's potential to become a year-round tourist destination.

While the country, struggling to meet its EU deadline for reforms, the Socialist-led three-way coalition government is kept together by its mandate to take Bulgaria into the EU.

Reform of the police, prosecution service and judiciary will take time to become effective, regardless of how much pressure is exerted by Brussels.

While Sofia-based bankers and investors agree the business climate does improve, deals involving the government continue to be fraught with uncertainty, FT concludes.

Tourists rise if infrastructure strategy is fulfilled

2006-07-13T13:17:00.000+03:00

Foreign tourists’ number will double if the government fulfills the national infrastructure strategy that plans activities up to 2015, Darik radio reported.

This was announced by tourism experts at Wednesday’s discussion of the strategy. 10 to 12 million will spend their vacations in Bulgaria if the projects are implemented. Developing road network, small airports and ports concessions as well as environment preservation will attract more foreigners to the country, tourist organizations added.
The infrastructure strategy is divided in two parts: short- and long-term. The first one spans to 2009 when the government’s mandate is over; the Prime Minister Sergei Stanishev said. About EUR 5.5 billion (US$ 6.98 billion) should be invested by that time. If the next government continue implementing the strategy more than EUR 7.4 billion (US 9.4 billion) will go to transport, environment and energy industry from 2009 to 2015.
Bulgaria will be a full EU member in the next years and will adopt money from EU and Cohesive Funds but a minimum 15% will be necessary, the Finance Minister Plamen Oresharski said.

RUSSIAN JOURNALISTS

2006-07-12T11:10:00.000+03:00

BULGARIA PRESENTS TOURISM DESTINATIONS TO RUSSIAN JOURNALISTS

The State Agency for Tourism (SAT) organised a trip around Bulgaria for Russian journalists as part of the Cabinet's programme for advertising the country abroad as a tourism destination.

The Russian media participating in the project included ITAR-TASS, RATA news, Moskovskie Novosti and Pravda newspapers, City FM Radio and specialised tourism magazines, Bulgarian National Radio (BNR) reported.

During the tour starting July 17 the journalists would attend presentations on Bulgaria's sea tourism and on the opportunities for development of cultural, historical, spa and wine tourism in the country.

Coastal towns and resorts Varna, Golden Sands, Albena, Nessebar and Sunny Beach are among the destinations included in the tour. Cultural tourism destinations included Varna Archaeological Museum and the remains of the Tsarevets citadel in Bulgaria's old capital Veliko Turnovo.

The journalists will also meet SAT head Mario Al-Djebouri to discuss ways of advertising Bulgaria in Russia. In 2005 the number of Russian tourists to Bulgaria registered a 17.39 per cent increase. The tendency continued in 2006 with 25 per cent growth over the first six months of the year compared to the same period in 2005, BNR said.

NATIONAL TOURISM BOARD READY TO ADVERTISE BULGARIA ABROAD

2006-07-11T15:20:00.000+03:00

The national tourism board, found recently, was ready to aid the State Agency for Tourism (SAT) in its attempts to popularise Bulgaria as a destination, board chair Polly Karastoyanova said.

Board members said that the national tourism programme needed more clarity.

Bulgaria also needed international advertising, which the board was ready to aid, Darik Radio reported. The participation of the board and the SAT in the process could aid the two institutions utilise the advertising budget more efficiently, Karastoyanova said.

One of the board’s aims would be to lobby for a bigger budget for commercial representative offices abroad, said Karastoyanova.

If Bulgaria lacked its representative offices, it could hardly attract tourists from more distant destinations like America, Asia and the Persian Gulf, board members said.

At the same time it became clear the number of German tourists visiting the Bulgarian Black Sea coast has decreased.

The tendency re-occurs for a third consecutive year. The number of French and Scandinavian visitors, however, has increased.

Bulgaria's tourism sector to experience numerous bankruptcies after EU entry

2006-07-11T15:17:00.000+03:00

Bulgaria’s tourism sector, along with the food and textile industries, is expected to provide the biggest portion of bankruptcies after Bulgaria’s accession to the European Union.

Ninety per cent of the more than 5000 micro-companies in the food-making industry will not cope with the introduction of the EU health requirements, Chairman of the Managing Board of the Association of Industrial Capital in Bulgaria Vassil Velev told a news conference on June 28. Almost the same percentage applies for the tourism companies, where the market itself will lead to the bankruptcies.

The Economic and Social Council (ESC), a consultative body with the Government, held a session on June 28 to approve an opinion on the Bulgarian industrial policy in the process of this country’s accession to the EU.

The document was prepared by the quota of the employers’ organisations in ESC and will be given to the line ministries and to Parliament.

The employers argue that the Bulgarian companies are faced with bankruptcies over their inability to cope with the high European health conditions, the environmental regulations, the stronger competition and the expected increase of labour costs in the respective economic sectors, Velev said.

The Bulgarian industry will have to spend nine billion euro so as to be able to meet the environmental requirements by 2014, Velev said. ESC suggests allocating resources for environmental grants for SMEs in the Environment Operational Programme.

The direct introduction of financial stability requirements will have a negative impact on about 80 per cent of the nearly 6000 licensed forwarding and transport companies in Bulgaria.

Tourism contributes about 12 per cent of Bulgaria’s gross domestic product and tourism revenue helps the country partly offset a rise in its trade deficit.

Last year, 4.84 million foreign tourists visited the, bringing revenue of 1.932 billion euro.

Speaking of the tourism sector, there are other factors that influence its development and they already have a negative impact on Bulgaria.

UK travel agency Thomas Cook registered a three per cent drop of tourists to the Bulgarian seaside at the beginning of the summer.
The decrease is due to the World Cup in Germany. Most UK citizens have chosen Germany as a summer holiday destination.

The drop can be compensated in June, July and September. A total of 23 000 or 24 000 UK tourists can visit Bulgaria over the summer, Thomas Cook predicts.

In an attempt to offset the seaside decline, some alternative forms of tourism in Bulgaria are now seriously advertised.

The Bulgarian Association of Alternative Tourism (BAAT) presented on June 28 the fourth edition of a guide on key guesthouses and hotels in Bulgaria.

The catalogue includes over 200 text pages in Bulgarian and English and over 300 pictures including addresses of landmark guesthouses and hotels in Bulgaria.

The catalogue includes also information about six alternative tourism operators, four nature parks and one national park.

The guide will be distributed by the bookshop chains Helikon, Booktrading and Pingvinite, and at the filling stations of OMV, Shell and LUKoil. The guide will be available in online bookshops at a later stage.

Meanwhile on the market, the Bulgarian diversified company Festa Holding said it planned to invest 19 million euro in the construction of a luxury hotel and holiday apartments near its winery located in the town of Pomorie on the Black Sea coast.

The holding company plans to further develop its Via Pontica complex, which includes a refurbished 1932 winery and a restaurant for wine tourism, by adding a small luxury hotel with 40 apartments and spa centre and a holiday village with 57 apartments.

The investment in this project is estimated at nine million euro.

Festa also plans to invest 10 million euro in the construction of a larger holiday village near Via Pontica. The complex, named Festa Apartments will have 192 apartments that will be sold, a small hotel, bars and restaurants, swimming pools, spa and fitness centres.
Both projects are expected to be completed by the start of next summer.

Ivan Vatahov

THRACIAN VILLAGE

2006-07-11T15:16:00.000+03:00

ARCHAEOLOGISTS DISCOVER THRACIAN VILLAGE IN BULGARIA

Archaeologists discovered a Thracian village dating from fifth century BC near the village of Vassil Levski, Karlovo municipality.

The discovery was unique as archaeologists revealed the fist roof tiles in Bulgarian lands from that period decorated in Greek style, Darik Radio reported.

Archaeologists have discovered remains of a fotress wall and many Greek utensils used for the import of Mediterranean wine.

The name of the king who ruled the fortress remains unknown. Archaeologists hope to dicover more information on his identity when they begin excavation of the village’s citadel.

Archaeologists now work on the eastern part of the village where the king’s residence and a nearby temple are situated, Darik said.

The team of archaeologists include specialists from the Archaeological Museum in Plovdiv. Archaeoligist Kostadin Kisyov said the team could not re-cover the entire village as large parts of it lay beneath private property.

...

DISCOVERERS OF THRACIAN VILLAGE IN BULGARIA APPLY FOR STATE FINANCING

The archaeologists who recently discovered a Thracian village applied for state financing for the excavations, planning to make the village a cultural tourism destination.

The project already received funds from several private companies and from Plovdiv municipality, Focus news agency reported.

The money would be needed for the conservation of the remains and the construction of a shelter, Konstantin Kisyov, head of the Plovdiv Archaeological Museum and leader of the archaeological team, said.

The new site was situated near the road from Sofia to Kazanluk and could easily be included in cultural tour packages, Kisyov said.

Archaeologists re-covered a fortress stone wall, the foundations of the king's palace and unique decorated gilt tiles. The utensils used for import of Mediterranean wine proved that the king had sufficient political and economical power to trade with the Greek cities.

All the remains date to fifth century BC.

Houses built on sand

2006-07-11T15:15:00.000+03:00

It is to be hoped that assertions that the floods that hit the Black Sea coast on the weekend of July 1 and 2 will not negatively affect tourism are correct.

Bulgaria’s tourism industry, although it has expanded substantially in recent years, is vulnerable in some respects this year. Not only has there been negative publicity because of “construction tourism” - the inconvenience caused by large-scale building projects - but this year a large number of Europeans have chosen to spend their summer holiday budget watching the World Cup in Germany.

It is heartening that emergency services appear to have responded well to dealing with the destruction and disruption caused by the deluges this past weekend. Flooded streets were cleared within reasonable time, emergency transport given to those stranded, and the power supply restored within a day. It appears that some lessons have been learnt after the disastrous spring - autumn floods of 2005.

Further, apart from help from the European Union, it was announced just a day before the newest round of floods that a parliamentary committee had given the go-ahead for a substantial sum in assistance for areas hard hit by last year’s floods. The approach in allocating the money appears to have been a careful one, including the fact that claims were properly scrutinised and chancers who put in claims for damage that pre-existed the floods found their attempts spurned.

However, serious issues remain.

First, it is clear that the large-scale building related to the resort industry at the coast is having a significant impact on the environment. The process of approval and monitoring of such projects needs to be handled with the greatest possible acuity and honesty in order to minimise the impact on the environment, especially in regard to natural water runoffs and to the capacity of infrastructure to cope with the burden.

Second, while attention lately has been given to the huge hotels, it is equally clear that another look is needed at the type of construction that has been allowed, or tolerated, for smaller establishments such as bars, cafes, shops and restaurants on or close to beaches. Many of these structures were laid waste to, and now there is costly damage to repair. Admittedly, the scale of the damage at the seaside this past weekend has not been seen for decades. However, the coastline is now much more built-up, maximising the possibility of problems in the event of such natural disasters, especially in the light of the possibility that - although this is a point debated by scientists - world weather is getting more extreme.

Overall, the destruction and inconvenience of this past weekend serve as warning signals that development at the coastline needs to be reconsidered from an environmental point of view. Environmental, that is, in every sense of the term, from ecological to aesthetic.

If this is not done, it may well prove that just like the flimsy structures that ended up as a mess on the beach, Bulgaria’s tourism industry may be a house built on sand.

BULGARIA'S ECONOMY THREATENED BY CREDIT EXPANSION

2006-07-11T15:14:00.000+03:00

Credit expansion in Bulgaria for the last three years could lead to 'economic overheat', Reuters news agency said.

An increasing number of Bulgarians drew credits to buy cars, apartments and expensive household equipment, Reuters said. Bulgarian National Bank (BNB) tried in vain to limit the easy-to-obtain credits as banks shifted from loans to leasing deals, regulated with difficulty.

The inexpensive resources provided by foreign shareholders allowed Bulgarian banks to reduce credit interest rates from 10.5 to 7.5 per cent for loans in euro, attracting more customers.

According to a report of European Central Bank the rapid credit expansion in Bulgaria and Romania, could lead to financial crisis. The main negative result from the credit expansion was the increase in the current account deficit, which reached 6.1 per cent of the GDP in Bulgaria.

Increased foreign investment could also lead to economic problems, Reuters said. Nearly 30 per cent of the direct foreign investment went to the banking sector. Four out of ten major investment deals included foreign banks increasing their capital and boosting the credit expansion.

Another 30 per cent of the investment went to the property area. The estimated value of the transactions in the sector reached 6.1 billion leva. Investors preferred hotel construction in Bulgaria's coastal region and constructing malls and trade centres in the largest towns.

If the investment priorities remained the same, the export and production could suffer, Reuters said. Romania and most former communist states in Central Europe had better economic indicators than Bulgaria in these two spheres.

General Information about Bulgaria

2006-07-06T15:47:00.000+03:00

Bulgaria is situated in the south - east part of Europe, and in the eastern part of the Balkan Peninsular. For centuries, the roads passing through the territory of the country have been connecting Europe with Asia and Africa. Four common European transport corridors, connecting West and North Europe with the eastern and southern part of the continent cross their roads here.
Apart from its being situated on crossroads, Bulgaria is also known for its picturesque nature. In spite of its relatively small territory (110 912 km2), the country has various landscape. The scenery changes subsequently from vast plains, to hilly areas and high mountains.

Large beaches and beautiful rocky shores stretch out along the Black sea coast.

Territory
110 993,6 km2

Population
7 973 671

Capital
Sofia

Official language
Bulgarian

Political system
Parliamentary Republic

Head of State
Georgi Purvanov

Prime Minister
Sergey Stanishev

Administrative regions
Sofia - city, Sofia district, Burgas, Varna, Plovdiv, Rousse, Haskovo, Lovetch, Montana, Sliven, Yambol, Dobrich, Silistra, Shumen, Gabrovo, Pleven, Vidin, Vratza, Veliko Tarnovo, Pazardjik, Smolyan, Razgrad, Targovishte, Blagoevgrad, Pernik, Kardjali, Stara Zagora.

Official holidays
January 1st - New Years's Holiday;
March 3d - National Holiday;
Easter, and the first Monday after Easter;
May 1st - Labour Day;
May 6th - Gergyovden, and the Bulgarian Military Army's Day;
May 24th - Cyril and Methodius Day;
September 6th - Unification Day;
September 22d - Independence Day;
November 1st - National Day of the Bulgarian Revival Leaders;
December 24,25,26 - Christmas Days;

National currency
Lev

Measures and scales
the metric system

Time zone
GMT +2

Demographic data: (01.03.2001):

Population
7 973 671

Men
3 888 440

Population in towns
5 500 695

Population growth
(%) -5,1

Employed (December, 2000)
3 272,2 thousand

State structure

Constitution

The acting Constitution of the Republic of Bulgaria was adopted in July 1991. It was built on the basic principles of the contemporary constitutionalism. The Constitution provides a multi- party parliamentary system and free elections, in which all the citizens of the Republic of Bulgaria take part with the right to vote. After the elections, the largest parliamentary group constructs the government. So that the government is approved (The Council of Ministers), as well as for adoption of regular legal acts, general parliament majority is required. Amendments in the Constitution are to be adopted through three quarters of parliament majority.

The President

The President is the Head of State and is elected with direct elections once in every five years, for not more that two mandates.

The Vice President is elected at the same time, with the same voting paper, and under the same conditions and procedure, as of the President.

The President is the supreme commander of the military forces of the Republic of Bulgaria. He assigns and discharges the supreme command staff of the military forces and promotes the supreme officers into higher ranks on proposals by the Council of Ministers. The President is the Chairperson of the Consultative Council for national security and has the power to:

- declare war in case of armed attack against Bulgaria, or if necessary, the country's implementation of international agreements; declares general, or partial mobilization on request of the Council of Ministers;
- declares martial law, or any other state of emergency, at cases when the National Assembly is not in session and is impossible to be called;
- gives order to the Prime Minister to form the government;
- selects the date of the elections for the National Assembly, as well as for the local self-management authorities;
- points out the date for national referendum, after the corresponding decision of the National Assembly;
- approves the adopted by the Parliament laws with a Decree, signed also by the Prime Minister, or by the relevant Minister.

The Parliament

Bulgaria is a Parliamentary Republic and the basic power in the country is the legislative one. The Parliament (The National Assembly) exercises the legislative power, as well as the right to parliamentary control.

The mandate of the National Assembly is a 4 - year one.

The National Assembly consists of 240 MPs. They are elected directly by the voters for a 4 year term, on the basis of the proportional system. So that the parties and the pre-election coalitions enter the National Assembly, they must collect above 4% of the total number of votes at the elections. The MPs of the National Assembly represent not only their election regions, but the whole nation as well. The MPs work in compliance with the Constitution and the legislation, following their conscience and convictions. The National Assembly elects temporary and permanent commissions, where MPs participate. It adopts laws, decisions, declarations and statements. Every member of the National Assembly, or the Council of Ministers has the right to introduce a draft of a law. The draft law on the state budget is developed and introduced by the Council of Ministers.

The Government

The government (The Council of Ministers) is the main body of the executive power, headed by the Prime Minister. The Council of Ministers rules and conducts the internal and foreign policy of the state, secures the public order and the national security, exercises control over the public administration and the military forces.

The Prime Minister to be is nominated by the largest parliamentary group, after which the President hands in the mandate to him for forming the government. The proposed Council of Ministers is voted by the National Assembly, which controls directly the activity of the government.

Local executive authorities

The status and powers of the local executive authorities depend on the territory structure of the country.

The municipality is the main administrative territorial unit for the local government. The policy of every municipality is determined by the Municipality Council and includes the economic development, the environmental policy, the educational, the cultural, etc. activities. The Municipality Council approves the annual budgets and development plans of the corresponding municipality.

Every municipality is ruled by a Mayor. The Mayor is in charge of the whole executive activity of the municipality, of keeping the public order, and organizes the distribution of the municipality budget.

The region is the bigger administrative territorial unit. Through it the governmental local policy is conducted in a decentralized and more effective way. A regional governor, assigned by the Council of Ministers, rules each region.

The Judiciary

The judicial power in Bulgaria is independent. It is built up on the basis of a procedure of three instances.

The Supreme Administrative Court (SAC), and the Supreme Cassation Court (SCC) exercise control over the implementation of the law by the courts of lower instances, and take decisions on the legality of the executive power's acts.

The Constitutional Court determines if the laws and the international agreements are in compliance with the Constitution.

A Supreme Judicial Council (SJC) has been established, which organizes the activity of the judiciary.

Custom's Formalities and Limitations

2006-07-06T15:46:00.000+03:00

A "Passenger" is any individual passing the state borderline of the Republic of Bulgaria.

Upon crossing the state borderline of the Republic of Bulgaria passengers may import and export commodities that in type, quantities, and value are not of a commercial nature. These do not include objects the passenger carry for personal use and consumption objects.

Passengers have the right to import at no custom duty or import fees the objects necessary to the foreign individuals for their stay in the country, which in their type and quantity correspond to both purpose and the duration of their stay, as well as consumption objects:

- tobacco products (passengers over 16 years of age) - cigarettes - 200 items, or other tobacco products - 250 gr.;

- Alcoholic beverages (passengers over 16 years of age) - wine - 2 litres, and alcoholic liquors - 1 litre;

- other drinks: coffee - 500 gr., or coffee extract - 200 gr., tea - 100 gr.., or tea extract - 40 gr.;

- perfumes - 50 ml. and toilet water - 0, 250 ml.

Passengers who are under full 16 years of age are not entitled to duty-free import of the commodities listed above, except for medications.

Passenger older than 16 can import duty-free commodities acquired abroad other than the listed above at a total value up to US$ 100 or the equivalent in other currency units. For passengers under 16 the duty-free import rate for commodities acquired abroad is US$ 50 or their equivalent in other currency units. Personal use objects, new and used, which a passenger may normally need during one's trip, taking into account all circumstances of the travel, are placed under the regime of temporary import with a full exemption of all customs dues. Re-exporting personal belongings cannot take place later than the moment when the natural person who has imported them is leaving the customs territory of the Republic of Bulgaria.

Currency and Currency Regulations

The currency unit in the Republic of Bulgaria is the Bulgarian Lev (plural form - leva /levs/) or BGN.

1 lev = 100 stotinki

Pegged exchange rate: EUR 1 = BGN 1.955

Foreigners may export and import Bulgarian banknotes and coins in circulation to the amount of up to BGN 10,000. Sums exceeding this amount may be imported and exported only with a permit by the BNB (Bulgarian National Bank), valid for a period of up to 90 days of its issuance date.

"Foreign currency" is a foreign banknote or coins that is a legal payment means in the country of its issuance.

"Foreign convertible (hard) currency" is the currency for which the BNB announces a central exchange rate every working day.

"Foreign currency in cash" apart from banknotes and coins are also the traveller checks issued in a foreign currency.

The foreign persons may export convertible (hard) currency in amounts that do not exceed the amount of the foreign currency they had imported and declared. They can import unlimited amounts of foreign currency, which is to be declared.

Upon entering and exiting the customs territory of the Republic of Bulgaria foreigners obligatorily fill in a declaration after a sample for the following currency value they carry:

- Bulgarian banknotes and coins in circulation in amounts over BGN 10,000;
- Bulgarian coins in circulation of numismatic value;
- Foreign currency equal to more than US$ 1,000;
- Shares issued by foreign entities in foreign currency, obligation notes, treasury-bonds, investment and depository certificates, cheques, bills of exchange, order bills, credit letters and other similar valuable papers;
- Precious metals and precious stones and products of these other than the usual amounts for personal and family use - in type, weight, and value;
- Coins, containing gold, silver and platinum - in type, weight, and value;
- Other (hard) currency values.

The export is prohibited of articles, coins of gold, silver, and platinum of historic, archaeological, artistic, and numismatic value included, except for the cases when there is a permit issued by the Minister of culture.

Foreigners leaving the customs territory of the Republic of Bulgaria may export precious metals in the form of ingots, articles made of them and precious stones, as well as coins containing precious metals within the amounts imported and declared, as well as articles purchased within the country, whose equivalence does not exceed the amount of the foreign convertible currency imported and declared by them.

Bulgaria hopes for 10% rise in tourism revenue

2006-06-27T20:31:00.000+03:00

Bulgaria can hope for a rise in tourism revenue by up to 10 per cent this year, Government officials say.

Meanwhile industry sources make less upbeat forecasts and even fear the revenue would fall, SEE News news service reported in an industry analysis published on June 15.

Underdeveloped infrastructure, unrestrained hotel construction activity in some of the country’s largest seaside and mountain resorts and a shortage of skilled workforce in the tourism sector are all causes for concern, Bulgarian tour operators say.

Tourism contributes about 12 per cent of Bulgaria’s gross domestic product and tourism revenue helps the country partly offset the rise in its trade deficit. Last year, 4.84 million foreign tourists visited the country, bringing revenue of 1.932 billion euro.

The government’s Agency for Economic Analyses and Forecasts (AEAF) expects tourism revenue to rise this year by a nominal 11.5 per cent and by nine to 10 per cent in real terms, the head of the Economic Policy and Forecasting Directorate at the agency, Stefan Tsvetkov, told SEE News.

AEAF based its forecast on projections provided by Bulgarian tour operators and an increase of the lodging potential in the country, Tsvetkov said.

Lyubomir Pankovski, president of one of Bulgaria’s largest tour operators, Alma Tour, agreed.

He projected that the number of tourists coming to Bulgaria this year would rise by five per cent and tourism revenue would grow by up to 10 per cent, as more hotels move to a higher category following large-scale investments.

“Investments in the hotels change the essence of the Bulgarian tourism product,” Pankovski said.

The Bulgarian Tourist Chamber, a lobby group, expects that the number of foreign tourists visiting Bulgaria this year will be five to six percent higher than in 2005 and the tourism revenue would grow by some seven to eight percent, benefiting from improved lodging conditions, chamber chairperson Tsvetan Tonchev told SEE News.

Bulgarian resort operator Albena CEO Krasimir Stanev said that his most optimistic forecast for 2006 was that tourist numbers would increase by 10 per cent and tourism revenue would go up by six to eight per cent. He added, however, that a more realistic forecast would be for tourist numbers to rise by one to three per cent this year, while Bulgaria’s tourism revenue would grow by a mere 0.5 to one per cent from 2005 as foreign tourists shift their preferences to Spain this year.

Stanev said that Spain was attracting 50 per cent more tourists this year compared to 2005 because the country offered good prices, infrastructure and services, while Bulgaria had underdeveloped infrastructure and was not advertising its tourist services enough.

“At the moment we are in the red, and there is a big possibility to end in the red this year,” Stanev said.

Bulgaria could avoid a possible drop in tourism revenue if more Russian holidaymakers come to the country, which many resort operators consider likely, and if tourists who had planned to holiday in Romania and Turkey decide to come to neighbouring Bulgaria instead, because of the bird flu scare in the two countries.

The lodging capacity of Bulgaria has increased by about 20 per cent since last year and even if 10 per cent more tourists visit Bulgaria this year than in 2005, this still would mean that the profitability of the business is falling, Stanev said.

Kalin Sutev, chief executive of tour operator Bulgarian Tourist Services (BTS), said that the number of hotel bookings made so far was lower than a year earlier but he hoped last-minute bookings would help compensate for the decline.

Last year, BTS brought 150 000 Germans tourists, 15 000 British and 10 000 Russians to Bulgaria.

Bogdan Hristov, chief executive of Bulgarian tour operator Hotelbeds Accommodation and Destination Services, was pessimistic. He said that he expected a 10 per cent fall in both tourist numbers and tourism revenue this year, because of underdeveloped infrastructure, lack of enough skilled workforce to match the rise in lodging capacity and increased competition from Cyprus, Greece and Turkey.

“The advantage of low price is no longer there,” Hristov said.

Bulgaria’s Black Sea resorts of Albena, Zlatni Pyasutsi (Golden Sands) and Slunchev Bryag (Sunny Beach) attract an increasing number of foreign tourists every year, but tour operators have repeatedly warned that rampant construction of hotels at the seaside in the past three years has begun to turn the resorts into a poorly managed habitat with inadequate infrastructure facilities, SEE News reported.

Ivan Vatahov

Foreign Trade and Customs System

2006-06-22T19:47:00.000+03:00

FOREIGN TRADE REGULATIONS

Bulgaria applies a liberal foreign trade regime that meets the WTO requirements. A limited number of goods are subject to administrative control. The Council of Ministers Decree No. 233 of 8 November 2000 and its latest alteration and amendment, published in State Gazette No 9 of 25 January 2005, established the current foreign trade regime.

Import and Export Regulation
Registration (automatic licensing) means registration of export and import transactions of goods. The permit (non-automatic licensing) is a license for transactions of goods. The requirement for registration and permits originates from Bulgaria’s compliance with international agreements and respective domestic legislation. In order to obtain a permit оr to apply for a registration, the company has to submit to the relevant state department a filled-in certificate form together with the relevant documents, which verify the data, contained in this form.

Registration is required only for the certain kinds of timber in case of export.
Permits (licensing) are required for transactions with limited number of goods. Some of these groups include:

entry, export and re-export of nuclear material, radioactive substances and other sources of radiation;
entry, export and re-export of gunpowder, explosives and pyrotechnic material and products made from them for civil uses; trinitrotoluene; smoothbore guns, pneumatic hunting and sporting arms, etc., and in case of entry: of sights, laser beam sights and gas sprays;
import of pharmaceuticals for human medicine and of veterinary products;
entry of plant protection products;
entry, direct transit, export and re-export of military or special-purpose products, and of goods and technologies with potential dual (civil and military) use, that always should be in compliance with the Control of Foreign Trade Activity in Arms and in Dual-Use Goods Act.
Export of some kinds of burned wood is prohibited. The export and import of some commodities, such as substances with ozone-destructive potential (for instance Freon gases), and other dangerous for environment materials, is also prohibited. Import of goods with importance for the health of the population is subject to sanitary permits. The list of such goods includes foods, beverages, etc. Import, export and transit of the animals, animal products, forages are subject to the Veterinary Service control.

Customs Regime
Bulgarian Customs Act is based on the EU Customs Code. The same procedure and regimes as those of the EU are applied: release for import, transit, customs warehousing, inward processing, processing under customs control, temporary admission, outward processing, export, temporary export, etc. In the common case, imports and exports are declared via the single administrative document (SAD).

The following documents must accompany the customs declaration for the purpose of placing under the import procedure:

the invoice, a proforma-invoice or another type of invoice for customs purposes;
a value declaration, when required;
documents required for the application of preferential tariff measures: certificate of origin, certificate for the movement of goods, etc.;
transport documents, an insurance policy, specification, a packing list when required;
a document issued by a competent state authority, if the goods are subject to a special import procedure governed by a law or another legislative instrument (certificate of import, permits, etc.);
a veterinary, phyto-sanitary or another certificate for goods of animal, plant or another origin, respectively;
the customs authorities may require other documents as well, including commercial contracts, laboratory analyses, etc.
The documents which shall accompany the customs declaration for placing under the export procedure shall be as follows:

an invoice or a proforma-invoice, or any other equivalent document showing the value of the goods;
documents intended for the importing country (certificate of origin, authorisation, etc.);
transport documents, where the goods are not transported as hold consignments;
specification, or an equivalent document describing the contents, where necessary;
a document issued by a competent state authority, where the goods are subject to a special export procedure governed by a law or by another legislative instrument (certificate of export, authorisation, etc.);
a veterinary, phyto-sanitary or another certificate for goods of animal, plant or other origin, respectively;
the customs authorities may require other documents as well, including commercial contracts, laboratory analyses, etc.
Customs Agents
A customs agent can represent importers and exporters before the customs bodies for carrying out the customs procedures; this one must obtain an authorization from the Minister of Finance. Such agent could be a forwarder, logistic or another company or person.

Customs Tariff
The Customs Tariff of Bulgaria consists of the Combined Nomenclature and the appropriate rates of customs duties. The Combined Nomenclature of Bulgaria is based on the Harmonized Commodity Description and Coding System (HS/1983) and on the EU Combined Nomenclature. Tariff numbers of the Combined Nomenclature of Bulgaria are nine-digit codes. The first four- or six digits are corresponding to the HS numbers, the 7th and 8th digits correspond to the EU Combined Nomenclature, and the 9th digit is a subdivision on national level. When there is no subdivision on national level, the 9th digit is a zero. Since 2002 Bulgaria has introduced the Integrated Customs Tariff (so called the

TARIC system), which is based on the Combined Nomenclature of Bulgaria and which includes subdivisions of codes on national level, tariff suspensions, quotas, preferences, etc. It is worth to be mentioned that Bulgaria preliminary closed the chapter Customs Union in the EU accession negotiations in July 2002. Some information about customs regime is available on Web site of the Bulgarian Customs Agency on address http://www.customs.government.bg.

Customs Duties
The Customs Tariff consists of two columns with duties:

a) conventional duties;
b) autonomous duties.

The applied rates of the duties in the Customs tariff are defined as a percentage of the customs value if other is not prescribed at the respective level of determination (e.g.ad valorem rate of duty). Regarding the import of goods on the territory of Bulgaria, the Customs Tariff and its annexes provide for the following basic rates of tariff treat:

Most Favoured Nation (MFN) treatment, applied to commodities coming from the countries and regions-members of WTO or from countries to which Bulgaria has granted the MFN clause. Under this treatment shall apply customs duties from column with conventional duties or column with autonomous duties; the rule is that autonomous rates of duties shall apply in case they are lower than 3 conventional rates of duties. Under MFN treatment, in the Customs Tariff for 2005 the average arithmetical rate of duties is 11.49% and with respect to the import of industrial goods only – it is 8.59 %. A large number of commodity groups, such as energy sources, raw materials, medicines and others, are treated with zero rate of customs duties.
Preferential treatment, applied to commodities originated from the EU countries (in accordance with Association Agreement), EFTA countries (Iceland, Liechtenstein, Norway and Switzerland), CEFTA countries (Romania and Croatia), Turkey, Macedonia, Israel, Albania, Serbia and Montenegro, Moldova, Bosnia and Herzegovina (in accordance with Free Trade Agreements). The preferential rates of customs duties with respect to all the above agreements are included in the Customs Tariff as annexes. In 2005 industrial goods (chapter 25-97 of the Customs Tariff), originated from EU, EFTA, CEFTA countries, Turkey, Israel and Macedonia, are treated practically with 0 (zero) rate of duties.
Preferential treatment, applied under the General System of Preferences for commodities listed in a separate annex, coming from the developing countries (70% of MFN treatment rates in common case and 40% in respect to several items listed separately) and coming from the least developed countries (suspension of rates). In cases when a foreign company is planning on moving its entire business including machines, equipment, inventory, etc. (complete transfer of the activities) on the territory of Bulgaria, there are no import duties to be paid (Art.726-732 of the Implementing Regulation of the Customs Act).
No customs duties are charged for exported goods.

Inward Processing Customs Regime (named also Active Improvement)
When certain goods are imported on the territory of Bulgaria with the purpose to be processed and then re-exported in the form of “compensatory products”, they could be treated under the inward processing procedure (section IV of the Customs Act). As provided in the Rules (Rules on the Implementation of the Customs Act), placing the goods under Inward Processing procedure shall provide security for the customs liability in the rate of 10 percent of the size of the import duties (10% deposit or bank guarantee of the total amount of the due duties and VAT). At the cases of work with materials under conditions of the assignor out of the Bulgarian customs territory and on his account, on so called “job processing” condition, shall be exempt from security (no deposit). Issuing of the permits under this regime is within the authority of the appropriate Regional Customs Office. In case of import of manufacturing equipment, machinery and tools for the purposes of manufacturing under Inward Processing regime, it is possible to apply the customs regime of “deferred payment and temporary import” for a period, which does not exceed 24 months. Deposit on due duties and VAT in case of import of machinery and equipment for processing of prime and row materials is at the rate of 20%.

Processing Under Customs Control
The procedure for processing under customs control shall allow foreign goods to be used in the customs territory of the Republic of Bulgaria in operations which alter their nature or state, without being subject to import duties or commercial policy measures. Products resulting form such operation - processed products, shall be released for import in the country at the rate of import duty appropriate to them. The list of cases in which the procedure for processing under customs control may be used shall be determined in the Rules on the Implementation of the Customs Act. Placing the goods under Inward Processing procedure shall provide security for the customs liability in the rate of 10 % of the size of the due import duties and VAT.

Customs Warehousing
The customs warehousing procedure shall allow the placing and storage in a customs -+warehouse of:

non-Bulgarian goods, without such goods being subject to import duties or commercial policy measures;
Bulgarian goods, where existing provisions provide that their being placed in a customs warehouse shall attract the application of measures normally attaching to the export of such goods.
Customs warehouse means any place approved by and under the supervision of the customs authorities where goods may be stored under certain conditions. Cases in which the goods may be placed under the customs warehousing procedure without being stored in a customs warehouse shall be determined in accordance with the provisions in the Rules. A customs warehouse may be either a public warehouse or a private warehouse. Public warehouse means any customs warehouse available for use by any person for the warehousing of goods. Private warehouse means a customs warehouse reserved for the warehousing of goods by the warehouse keeper. А deposit at the rate of 15% shall be provided to secure the amount of due import duties and VAT. No security is needed in case of customs warehouses type F (warehouses under customs authorities management).

Temporary Import
The temporary importation procedure shall allow the use of the customs territory of the Republic of Bulgaria with total or partial relief from import duties and without they being subject to commercial policy measures of non-Bulgarian goods, where intended for re-export without having undergone any change except normal depreciation due to the use made of them. The customs authorities shall determine the period within which import goods must have been re-exported or assigned a new customs-approved treatment or use. The maximum period during which the goods may remain under the temporary importation procedure shall be 24 months. The cases, terms and conditions under which the temporary importation procedure may be used with total or partial relief from import duties shall be determined in the Rules. The amount of import duties payable in respect of goods placed under the temporary importation procedure with partial relief from import duties shall be set at 3 % for every month of the amount of due duties which would have been payable for the said goods had they been released for import regime on the date on which they were placed under the temporary importation procedure. In case of applying of temporary import for equipment for the purposes of manufacturing under Inward Processing regime, deposit on due duties and VAT in is at the rate of 20%.

Free Zones
There are six free zones (FZ) in Bulgaria and they are located on important transport route. Facilities and services in the zones are favourable for general commercial activities as warehousing (storage), packaging, labeling, distribution, re-export, etc. Under certain conditions FZ are suitable for manufacturing activity – e.g. through applying the Inward Processing, Processing under Customs Control or another customs regime. In the general case, the entry of goods into the Zones is free of duty and VAT. The function of the free zones are regulated by several Acts, first of all by the Customs Act and the Decree No 2242 on Free Zones. Under the Customs Act the free zones are to be established as separate parts of the Bulgarian customs territory with chek-in control and fixed entrance and exit points. FZ’s have a legal status of Joint Stock Companies.

Praise for Bulgaria's tourist industry

2006-06-22T09:16:00.000+03:00

The property market in Bulgaria has enjoyed significant growth in recent years but experts acknowledge that it is still partially inhibited by the lack of development in the tourist industry.

Few would doubt Bulgaria's potential as a tourist hotspot. Bansko boasts one of Europe's premier ski resorts and Sunny Beach has a summer resort that combines natural beauty with a vibrant atmosphere.

With Bulgaria in the midst of a bid to host the Winter Olympics in 2014, sports may in fact play a crucial role in adding impetus to Bulgaria's tourist industry, as the Black Sea resorts have also established a reputation for excellence in this field in recent years.

At Sunny Beach alone, holidaymakers are able to try windsurfing, waterskiing, parasailing and hang-gliding and there is certainly potential to pursue this route.

Property investment in Bulgaria will certainly receive a huge boost from a flourishing tourist industry, not least because of the added tenant demand around the most popular holiday areas. Already, buy-to-let investors around Bansko have seen rents rising and demand improving and this is set to continue as more and more money is thrown into the country's attempt to compete with resorts in France and elsewhere in Europe.

According to Georgi Iliev, writing for Focus News, things are certainly moving in the right direction and Bulgaria remains on track to transform itself into "a major tourist destination".

"Tourism is on a roll in Bulgaria. For the last several years, the country's tourist industry has seen double-digit growth and now accounts for 16 per cent of GDP. Bulgaria is trying to claim its share of the global stream of tourists – but to do so, it will need to tackle the consequences of earlier development," he said.

The problems that Bulgaria needs to overcome, according to Mr Iliev, are based around the demise of communism in 1989, when tourism also collapsed spectacularly. He argues that the Bulgarian government was na?ve in its efforts to market the country and this meant that it was left behind as other countries flourished.

He says that things are changing, however, and the authorities now have a greater understanding of the need to compete with rival destinations. In March, for instance, Bulgaria was promoted as a tourist destination at ITB Berlin, while tour operators were also present at the Beijing International Travel and Tourism Market.

The efforts have not been wasted and Mr Iliev observes that Bulgaria now features as an option for major tour operators around the world.

Mr Iliev also refers to figures from the Nation Statistics Institute which show that four million foreign tourists visited Bulgaria last year. With the World Travel and Tourism Council predicting further growth of 6.3 per cent this year and 4.3 per cent annually until 2016, there is certainly reason to be optimistic and property investors will be looking to capitalise on this by purchasing properties in or around the country's most appealing resorts.

While he concedes that there are a number of key obstacles that need to be avoided if Bulgaria is to truly rival some of its European counterparts in the tourism stakes, Mr Iliev suggests that EU accession next year could prove to be the catalyst that is needed.

Bansko TOURISM OPPORTUNITIES

2006-06-22T02:39:00.000+03:00

BULGARIA'S BANSKO TO DEVELOP YEAR-ROUND TOURISM OPPORTUNITIES

Bulgaria's Bansko mountain resort would search for ways to attract tourists year-round, The Independent reported.

Until recently Bansko was the typical ski resort with booming tourism activity in the winter season and almost empty during the summer. Now investors seek to attract tourists during the summer, offering services like bike and hiking trails, horseback-riding lessons and golf courses, The Independent said.

Since 2003 over 3 000 British have invested in Bansko attracted by the resort's development opportunities in view of its 2014 Winter Olympics host application.

One of the investment projects includes the construction of Alpine Lodge, a 123 apartment complex near a golf ground used for training under a system designed by British golf celebrity Ian Woosnam. The complex would be built by December 2007. According to advertisements, Alpine Lodge will also offer sunbathing decks, barbecue areas and a swimming pool.

The Independent compared Bansko to mountain resorts in Spain from few years ago, saying it was 'booming after decades of stagnation'. Statistics revealed that the resort registered a 62 per cent increase in the number of British tourists in 2005. British amount to 80 per cent of the foreigners visiting the resort.

The high interest resulted in a 25 per cent increase in property prices in the region. The Independent said that the tendency was likely to last and predicted a 20 per cent real estate price increase for 2006.

Some of the factors influencing the property market include the expected significant improvement of infrastructure after the country's EU accession, and the better revenue opportunities now that Bansko would become a year-round resort.

Tourism on a Roll

2006-06-21T21:14:00.000+03:00

Bulgaria faces key choices on its path to becoming a major tourist destination.

Tourism is on a roll in Bulgaria. For the last several years, the country’s tourist industry has seen double-digit growth and now accounts for 16 percent of GDP. Bulgaria is trying to claim its share of the global stream of tourists – but to do so, it will need to tackle the consequences of earlier development.

AN UPWARD TREND

Until the demise of communism in 1989, Bulgaria was a preferred holiday destination for Eastern Europeans seeking sun and the warm weather in seaside towns. With the collapse of communist regimes across the region, that tourism also collapsed. Citizens of the former Eastern bloc wanted to visit places beyond their reach under the old system, and the Bulgarian government lacked the know-how to effectively advertise the country in a market-driven economy.
But today, Bulgaria appears to be on the right track.
The country has come to understand the importance of marketing its tourist sites and has become a regular at major tourism fairs worldwide. In March 2006, Bulgaria presented itself at ITB Berlin, the world’s largest such event. In April, several Bulgarian tour operators participated in the Beijing International Travel and Tourism Market, where Bulgaria was declared an official tourist destination by the Chinese authorities. And in May, Bulgaria’s tourist offerings were on display at the Arabian Travel Market (ATM) in Dubai. Traffic on Bulgaria’s official tourism site (www.bulgariatravel.org) has been steadily climbing.
“Tourism is often influenced by fashion trends. Currently, the trend is Balkan tourism and Bulgaria should jump at the opportunity,” Sonia Aleksieva of the Bulgarian Hotel and Restaurant Association told a tourism conference in early June.
Bulgaria’s marketing campaign seems to be bearing fruit: Bulgaria is now on the menu of many major tour operators around the world.
But marketing isn’t the whole story: the country’s tourism industry also needs to invest in its infrastructure. The online accommodation booking system TIRS.net, launched in 2003 and developing rapidly since, now allows 24-hour access to hotel reservations and other tourist services.
The National Statistics Institute reported that over 4 million foreign tourists visited Bulgaria in 2005, while the World Travel and Tourism Council (WTTC) predicts growth of 6.3 percent this year and 4.3 percent annually for the 2007-2016 period. Bulgarian tourism is expected to generate $6.73 billion this year, accounting for 16 percent of GDP and 400,000 jobs, almost 14 percent of total employment.
The WWTC report ranks Bulgaria’s travel and tourism economy 68th out of 174 countries by absolute size.
Where tourism in Bulgaria once simply meant beach holidays on its 400-kilometer Black Sea coast, attractions today include world-class ski resorts; over 1,600 mineral springs and spa resorts; numerous opportunities for agri-tourism; and thousands of historical and cultural sites, including nine UNESCO world heritage sites. (Among these the old city of Nessebar with its stunning pre-Christian, Medieval, and Renaissance art; and the Kazanlak and Sveshtari tombs, examples of the unique Thracian culture that flourished in Bulgarian lands from the third to the fifth century B.C..)

CHALLENGES

Despite the encouraging statistics, Bulgaria’s tourism industry also faces challenges – for example, over-development of coastal resorts, poor transport infrastructure to some inland tourist sites, lack of qualified staff, and environmental issues.
Bulgaria’s main Black Sea resorts are Golden Sands, Albena, and Sunny Beach. These have always lacked the peace and quiet of smaller resorts, but the situation is far worse today as they’ve effectively merged with smaller, neighboring sites to form a mega-resort, stretching for miles along the coast. Golden sands has over 100,000 beds and Sunny Beach over 120,000. To put that in perspective: most Bulgarian cities would be able to squeeze their entire populations into either one of them.
Despite the lessons in over-development learned in other countries – Spain being the classic case – Bulgaria seems unable or unwilling to confront these mega-projects. Current regulations state seaside hotels must offer eight to 12 square meters of beach space per tourist, but this is a fiction in all but a few resorts on the northernmost and least-developed parts of the coast.
Some observers believe the market will mend what laws cannot. Mega-hotel projects may well become history as more and more investors focus on projects of a different kind, such as holiday complexes of low-rise buildings located in parks.
Indeed, Bulgaria is a country of stunning natural, cultural, and historical wealth. It features a fascinating diversity of sites to visit. Luckily, the peculiarities of the previous regime and the location of some of the tourist sites (near the border with Turkey and Greece, in areas that used to be restricted-access) have meant some of the most intriguing mountain sites are unspoiled. However, this very remoteness also leads to a big problem that Bulgaria will need to tackle – poor road infrastructure.
While the government has recognized the problem, it lacks the funds to do much about it. International programs can only complement domestic financing, not supplant it.
Roads to the ancient Thracian city of Perperikon, located in the eastern Rhodopi mountains outside the town of Kardzhali, and to the largest Thracian temple in the village of Starosel in central Bulgaria, have recently been upgraded – but many more roads have not, especially in the mountainous regions that host some of the country’s most spectacular architectural, historical, and natural sites. “Bulgaria has the potential to attract up to 10-12 million tourists per year but this is achievable only after the road infrastructure is improved,” Blagoj Ragin, chair of the Bulgarian Hotel and Restaurant Association, told the Kapital newspaper. “We have to follow the examples of Croatia, Slovakia, Ireland, Portugal, and Spain who invested in their infrastructure and became popular destinations.”
In addition to poor transport links, the quality of service in many resorts also plagues Bulgaria’s tourism industry – much more so than the quality of accommodation. Most older hotels in the country were privatized a decade ago and have since been renovated, while almost all of the newly-built hotels meet international standards and rating requirements. But few hotel owners understand the importance of investing in staff through training. Sometimes even top hotels lack staff fluent in foreign languages – a problem compounded by Bulgaria’s use of the Cyrillic alphabet, which can make life difficult for foreign visitors.
So far, infrastructure problems have not seemed to bother real estate buyers. In fact, recent years have seen a boom in real estate deals in Bulgaria – especially in mountainous regions with an intact environment. Real estate prices in some areas of Bulgaria are still a fraction of those for similar properties in Western Europe, attracting hordes of foreign investors (as well as people who simply want to acquire a second home).
The village of Mindia, near the city of Veliko Tarnovo, is on its way to becoming the largest British colony in Bulgaria. Some 40 British families have already bought houses in the village, lured by beautiful landscapes and clean air. Despite constantly rising prices, investors keep flocking in; Bulgaria’s expected EU entry in January 2007 or 2008 provides investors with additional security, and the value of their property is set to increase further still.

DEVELOPMENT AND ITS DISCONTENTS

Despite a focus on quality offerings, Bulgarian tourism is mostly mass tourism. Seaside visitors account for the better part of tourists in the country and for almost 80 percent of revenue. But in addition to the higher yields involved in quality tourism, another factor is slowly pushing the country away from its past approach to tourism: environmental degradation.
The overcrowded sea and mountain resorts have already damaged their environments. At Bansko, Bulgaria’s most rapidly developing ski resort, erosion from new slopes threatens to upset the local ecological balance. The other major ski resorts – Borovetz and Pamporovo – also suffer from short-sighted construction projects.
The Bulgarian government understands the importance of developing more environmentally-friendly tourism, but relatively little has been done. A national strategy for eco-tourism was adopted in 2004 but there is no overall tourism strategy of which it could form part. The struggle for more sustainable forms of tourism, in the meantime, is being carried forward by organizations like the Bulgarian Association of Alternative Tourism (BAAT), which currently has 90 members including non-governmental organizations, regional tourism clubs, family hotels, and tour operators.
Another driving force for change is Bulgaria’s forthcoming EU accession, which means it will have to adopt and implement EU tourism standards. As a first step, Bulgaria has scrapped the system of charging domestic and international visitors different fees. But more important measures will have to follow: development of tourism sites and infrastructure, improved quality of service, and better marketing of the destinations – all with the overall goal of turning Bulgaria into a model of sustainable tourism.
Bulgaria’s tourism industry faces challenges, some of them quite serious. But the country’s natural, cultural, and historical heritage as well as its location make Bulgaria a tourism destination to watch.

By Georgi Iliev

Government

2006-06-21T03:43:00.000+03:00

Bulgaria is a parliamentary republic and conforms with the Constitution of the Republic passed by the Grand National Assembly in July 1991. The Constitution of the Republic of Bulgaria is the supreme law of the country and no other law may contravene it. All international treaties, which are ratified pursuant to the constitutional procedure, are considered part of the domestic legislation.

The National Assembly is a one-chamber parliament. It consists of 240 Members of Parliament who are directly elected every four years. The National Assembly is a permanent acting body, directed by a board of Chairmen including a Chairman of the National Assembly.

The head of the state is the President, who embodies the unity of the nation and represents the Republic of Bulgaria in its international relations.

The Council of Ministers is the executive state body and directs the domestic and foreign policy of the country. The government manages the implementation of the state budget, organizes the management of state property and approves or rescinds certain categories of international treaties pointed out in the Constitution.

Under the democratic process, there has been a smooth transfer of power, strengthening of state institutions and a consensus amongst all political parties towards promoting the market economy and respecting human rights.

History

2006-06-20T15:44:00.000+03:00

The history of Bulgaria goes back more than 3,000 years.

A succession of various civilizations, Thracian, Roman, and Byzantine, the Bulgarian state has existed for 13 centuries now on the Balkan Peninsula, which has long been a meeting place and a melting-pot of tribes and nations. The Bulgarian state was founded in 681 AD, when Slavs and Proto-Bulgarians were brought together under the scepter of the Khan.

The conversion of the Bulgarians to Christianity in 865 AD joined Bulgaria to the Christian civilization. The invention of the Cyrillic script in the latter half of the ninth century, during an age when previously only Latin and Greek had been used to write, gave a powerful impetus to the country's cultural development.

In 1185, after a lot of fights with Byzantines, the noble brothers Asen and Peter led a revolt that forced Byzantine recognition of an autonomous Bulgarian state. The Second Bulgarian Empire was centered in today’s town of Veliko Turnovo. In 1202 Tsar Kaloian (1197-1207) concluded a final peace agreement with Byzantium that gave Bulgaria full independence, which contributed to the flourish of the Bulgarian culture. After the death of Ivan Asen II, political instability threatened the Bulgarians.

Unfortunately in 1396 Bulgaria fall down on Turkish slave which occupation continued nearly 500 years.

The preparation for the national liberation began in the early '60s under the guidance of Georgi Sava Rakovski (1821 - 1867) and Vassil Levski (1837 – 1873). The War of Liberation (the Russian-Turkish War) regained Bulgaria's freedom in 1878. In 1879 the Constituent Assembly adopted the first constitution of Bulgaria, which was one of the most democratic constitutions of the day.

The first decades of the 20th century were years of economic effort and prosperity. Bulgarian goods and Bulgarian currency, the 'Golden Lev', acquired a high value on the European markets. Trade relations with Austria, Germany, France and Great Britain strengthened

Taxation

2006-06-19T15:51:00.000+03:00

The Bulgarian tax regime can be classified in two main categories:

Direct Taxation:

Corporate income tax
Personal income tax
Withholding taxes
Indirect Taxation :

VAT
Excise Duties
Corporate Income Tax

Under the Corporate Income Tax Act (CITA) all companies and partnerships (including non-incorporated partnerships), carrying out business in the country, are liable to a corporate income tax at a rate of 15%. Bulgarian resident entities are taxed on a worldwide basis. Foreign entities are taxed on their Bulgarian-source income. Companies are considered to be tax residents if they are registered in Bulgaria. Companies that are non-residents in Bulgaria, but operate in Bulgaria through a branch, office, agency or other form of a permanent establishment are only liable to tax on the profits generated through their Bulgarian establishment.

Annual profit must be declared no later than 31 March of the year following the taxable year. Generally, the taxable profit is determined in accordance with the financial result reported in the Profit and Loss Account (“P&L”) adjusted for tax purposes. Depreciation is calculated by systematically applying the straight-line depreciation method. Depreciation norms should not exceed the following rates:

Category of assets
Assets description
Annual depreciation norms (%)

I steady buildings, facilities, communication devices, electricity carriers, communication lines 4
II machinery, manufacturing equipment, apparatus 30 – 50*
III transportation vehicles, excluding automobiles; coverage of roads and airplane runways 10
IV computers, software and right of using software 50
V automobiles 25
VI all other depreciative assets 15

*Possibility to be 50% when new investment is made and the equipment is new and purchased after January 1, 2005

Tax exemption for manufacturing business

Manufacturing companies enjoy 100% exemption of the corporate income tax for investment in depressed regions, in case they meet the following conditions:

All the sites and assets (except for cash in bank accounts and equity) of the company are entirely located within the administrative boundaries of a depressed region.
The company does not have any due tax or obligatory social security liabilities.
Under CITA “depressed regions” are municipalities with unemployment exceeding 50% the average of the country and enumerated in a list annually approved by the Minister of Finance.

The exemption could be enjoyed if the amount of the tax credit is invested for acquiring fixed assets, necessary for the manufacturing activity, within a period of three years, following the year in which the tax credit was used. The value of the intangible assets (licenses, patents and know-how) should not accede 25% of the value of the tangible assets. At least 25% of the value of the assets must be financed by company`s own funds, including loans. The ownership of the acquired assets can not be transferred for a period of 5 years as of the date of their acquisition, except for in cases of reorganization of the company in compliance with the Commercial Law.

The company, which enjoys the exemption, could exercise it for a period of 5 subsequent years, even if as a result of decreased unemployment, the municipality is excluded from the above mentioned list.

High Unemployment Municipalities 2005.pdf

Tax credit for investment in depressed regions

Companies investing in depressed regions enjoy reduction of the corporate tax by 10% of the amount invested in acquisition, modernization or reconstruction of fixed assets including buildings, equipment, transmitters, electricity networks, telecommunication lines, machines, production facilities, transportation facilities, (excluding personal cars), road cover, computers and peripheral devices, software and the right to use software. The cost of intangible assets should not accede 25% of the acquisition costs of the fixed assets. The acquired assets could not be disposed for a period of 5 years, except in cases of reorganization of the company. The tax credit can be used for a period of 5 years.

Personal income tax

Under Personal Income Tax Act (PITA) tax liable persons are individuals - residents and non-residents, and corporate entities explicitly enumerated therein. Residents are considered individuals who reside in Bulgaria longer than 183 days for each 365 days period. Residents are liable for their world-wide income. Non-residents are considered those individuals who do not fit the above criteria for residents. Non-residents are liable only for their income derived from Bulgarian sources.

Local entities with annual turnover for the preceding year up to BGN 50 000 are taxed by a final annual (patent) tax for income resulting from sources in Bulgaria.

Incomes derived under an employment contract are taxed on a monthly basis as follows:

Monthly income
Tax

up to BGN 180 non-taxable
from BGN 180 to BGN 250 20% on the excess over BGN 180
from BGN 250 to BGN 600 BGN 14 + 22% on the excess over BGN 250
above BGN 600 BGN 91 + 24% on the excess over BGN 600

The annual taxable base is the sum of all taxable incomes received during the calendar year. The total annual income is subject to some adjustments and is then taxed in accordance with an annual progressive scale as follows:

Annual income Tax
up to BGN 2,160 non-taxable
from BGN 2,160 to BGN 3000 20% on the excess over BGN 2,160

from BGN 3,000 to BGN 7,200 BGN 168 + 22% on the excess over BGN 3,000
above BGN 7,200 BGN 1092 + 24% on the excess over BGN 7,200

Withholding Taxes

Certain types of income from sources in Bulgaria and payable to non-resident legal entities (if not generated through a permanent establishment) or individuals are subject to withholding taxes. The types of income are defined in CITA as:

dividends and liquidation quotas
interest, including such under finance leases
royalties
technical services remuneration
rents
payments under operating leases, franchising and factoring
remuneration under management contracts
capital gains from transfer of shares in local companies, securities issued by the State, a municipality or a local entity and local real estate
The withholding tax rate is 7% on dividends and liquidation quotas and 15% on the other types of taxable income. The withholding tax rate may be reduced under an applicable double tax treaty.

Withholding tax exemption for EU citizens

Dividends and liquidation shares, distributed by a local person in favor of a foreign natural or legal person, local for an EU member-country, are not subject to withholding tax under the conditions that:

According to the tax legislation of the respective EU member-country the person is considered as local of this country for tax purposes and by force of an agreement for avoiding the double tax levying with a third state is not considered as local person of a state out of the EU
The person is levied with corporate tax, without having right of choice or exemption from levying with this tax
The person is the actual possessor of the income and holds at least 20% of the shares/stocks of the local entity
By the moment of calculating of the dividends or the liquidation shares the person has owned the shares/stocks of item 3 continuously for a period not less than one year.
VAT

The Value Added Tax Act (VAT Act) currently in force is effective as from 1 January 1999. Although Bulgaria is not a member of the European Community, the VAT legislation in many aspects follows the provisions of the Sixth Council Directive 77/388/EEC on the common system of VAT and the uniform basis for its assessment.

The standard VAT rate is 20%. Zero rate of VAT applies to exports of products, certain eligible exports of services, as well as to some other transactions.

VAT Registration

Bulgarian and foreign businesses which carry out taxable transactions with a place of supply in Bulgaria and have a taxable turnover of at least BGN 50,000 during the preceding twelve months is obliged to register for VAT purposes. Non-residents, except for branch offices, are registered for VAT through a VAT representative. Voluntary VAT registration is limited to some specific cases such as:

• if the business performs both VAT taxable transactions and zero-rated transactions (i.e. export) and has a turnover of at least BGN 50,001 (as of the 1-st of April, 2006 the required turnover drops to BGN 25, 001);
• if a company incorporated in Bulgaria has a registered and paid up share capital of at least BGN 500,000.

There are special rules for the VAT registration in some cases of commercial companies' transformation and acquisition.

VAT Credit Refund

The VAT credit to be refunded can be set off against the VAT due, as well as against other liabilities to the state. The offsetting takes place during a 3-month term following the month in which the VAT credit occurred. If after this term there is still VAT to be refunded, the taxpayer may request a refund or continue offsetting it in the following months. Within three months as of the date of submitting the request for refund the tax authorities have to refund the remaining VAT after setting it off against any outstanding tax liabilities (there are indications that the second 3-month term may be reduced to 45 days).

Special preferential VAT regime for imports

As of 1 January 2003 VAT on the import of goods can be charged by the VAT registered importer if he holds a permit issued by the Minister of Finance and imports goods (with the exception of excise goods) according to a list approved by the Minister of Finance.

The importer shall exercise his right by:

declaring in the filed customs declaration that he will use this regime;
declaring that at the time of the import he is registered for VAT and has no outstanding tax liabilities and liabilities to the obligatory social and health insurance.
Where the importer has exercised his right, the customs authorities shall admit lifting the goods without effective payment or securing of the VAT.

The above special import regime is applicable to a person who simultaneously meets the following requirements:

realises an investment project approved by the Minister of Finance;
is registered for VAT;
has no outstanding tax liabilities and obligatory social and health insurance liabilities;
has obtained a permit by the Minister of Finance;
the project should be eligible for state aid for regional development.
The investment project shall be approved by the Minister of Finance in compliance with the following requirements:

term of fulfilment of the project – up to two years;
size of the investment – over BGN 10 million for a period not longer than two years;
opening of more than 50 new jobs;
the possibilities of the person to finance the project, as well as to construct and maintain sites providing its fulfilment.
The permit shall be issued for a period of up to two years on the grounds of a written request, to which the document designates by the law are enclosed.

Excise Duties

Excise duties are levied on goods and services listed in the Excise Duties Tariff, which are:

subject to transactions performed in Bulgaria, or
subject to cross-border transactions from abroad to Bulgaria.
Subject to excise duties are:

Spirit drinks, including beer and wine
Tobacco products
Fuels
Some types of automobiles
Gambling machines and other casino facilities
Coffee and tea
The Excise Duties Act provides for reimbursement of excise duties upon exportation of goods, when excise stickers have been paid but not used by producers, etc

Double Tax Treaties

Albania
Armenia
Austria
Belarus
Belgium
Canada
China
Croatia
Cyprus
Czech Republic
Denmark
Egypt
Finland
France
Georgia
Germany
Greece
Hungary
India
Indonesia
Ireland
Italy
Israel
Japan
Kazakhstan
Korea North
Korea South
Kuwait
Lebanon
Luxembourg
Macedonia
Malta
Moldova
Mongolia
Morocco
Netherlands
Poland
Norway
Portugal
Romania
Russia
Singapore
Slovakia
Slovenia
Spain
Sweden
Switzerland
Syria
Thailand
Turkey
Ukraine
Vietnam
Yugoslavia
Zimbabwe
United Kingdom

Roadmaps to Forming a Commercial Enterprise

2006-06-19T15:50:00.000+03:00

Branch

ROAD MAP TO FORMING A BRANCH

OPENING A BRANCH OUTSIDE COMPANY’S SEAT

DECISION OF THE COMPETENT BODY OF THE COMPANY:
• THE GENERAL MEETING OF THE LIMITED LIABILITY COMPANY
• THE BOARD OF DIRECTORS OF A JOINT-STOCK COMPANY/THE MANAGING BOARD WITH APPROVAL BY THE SUPERVISORY BOARD

WRITTEN APPLICATION STIPULATING:
• THE SEAT AND SUBJECT OF ACTIVITY OF THE BRANCH
• DATA FOR THE BRANCH MANAGER AND FOR THE EXTENT OF HIS REPRESENTATIVE AUTHORITY

ATTACHED TO THE APPLICATION SHOULD BE ALSO THE FOLLOWING DOCUMENTS:
• NOTARY CERTIFIED CONSENT ALONG WITH A SPECIMEN OF THE SIGNATURE OF THE BRANCH MANAGER
• CONTRACT WITH THE MANAGER

ENTRY IN THE COMMERCIAL REGISTER OF THE DISTRICT COURT WHERE THE SEAT OF THE BRANCH IS SITUATED

REGISTRATION AT THE TERRITORIAL DIVISION OF THE REGISTRY AGENCY UNDER THE REGISTRATION SYSTEM BULSTAT FOR ISSUANCE OF AN IDENTIFICATION NUMBER (BULSTAT CODE) WITHIN SEVEN DAYS AFTER THE ESTABLISHMENT OF THE COMPANY

Joint-stock company

ROADMAP TO FORMING A JOINT-STOCK COMPANY IN BULGARIA

SUMMON A CONSTITUENT ASSEMBLY

DECISION FOR ESTABLISHING A JOINT-STOCK COMPANY

ADOPTION OF ARTICLES OF ASSOCIATION OR FOUNDING DEED FOR A SINGLE-MEMBER JOINT-STOCK COMPANY

ELECTION OF SUPERVISORY BOARD OR BOARD OF DIRECTORS. APPOINTMENT OF A MANAGING BOARD

SUBSCRIPTION OF THE CAPITAL STOCK WHICH MINIMUM VALUE IS BGN 50 000

OPENING OF A BANK ACCOUNT BY THE MANAGING BOARD/BOARD OF DIRECTORS FOR ACCUMULATING CASH INSTALLMENTS

ISSUANCE OF TEMPORARY CERTIFICATES FOR INSTALLMENTS PAID IN (THE AMOUNT OF THE INSTALLMENT SHOULD BE AT LEAST 25% OF THE NOMINAL VALUE OF THE SUBSCRIBED STOCKS)

PREPARATION OF THE DOCUMENTS FOR COURT REGISTRATION

ENTRY IN THE COMMERCIAL REGISTER OF THE RELEVANT DISTRICT COURT BY THE APPOINTED MANAGING BOARD OR BOARD OF DIRECTORS (THE REGISTRATION SHOULD BE PERFORMED WITHIN THREE MONTHS AFTER CONSTITUENT ASSEMBLY)

COMPLETION OF THE ESTABLISHMENT: COURT'S DECISION FOR ENTRY INTO THE COMMERCIAL REGISTER

PUBLICATION OF THE REGISTRATION IN THE STATE GAZETTE

REGISTRATION AT THE TERRITORIAL DIVISION OF THE REGISTRY AGENCY UNDER THE REGISTRATION SYSTEM BULSTAT FOR ISSUANCE OF AN IDENTIFICATION NUMBER WITHIN SEVEN DAYS AFTER THE ESTABLISHMENT OF THE COMPANY

FULLY OPERATIONAL COMPANY

Limited Liability Company

ROADMAP TO FORMING A LIMITED LIABILITY (LTD) COMPANY IN BULGARIA

COMPOSING ARTICLES OF ASSOCIATION OR FOUNDING DEED FOR A SINGLE-MEMBER LTD

FORMATION OF COMPANY'S SHARE CAPITAL (AT LEAST 5000 BGL)

ISSUANCE OF A BANK DEED CERTIFYING THAT AT LEAST 70% OF THE REGISTERED CAPITAL HAS BEEN PAID

APPOINTMENT OF MANAGEMENT BODY

REGISTRATION IN THE COMMERCIAL REGISTER OF IN THE RELEVANT DISTRICT COURT BY THE APPOINTED MANAGER WHO POSSESSES REPRESENTATIVE POWER

ISSUANCE OF A PERMIT FROM THE COMPETENT BODY FOR PERFORMING SPECIFIC COMMERCIAL ACTIVITY BEFORE ENTRY INTO THE COMMERCIAL REGISTER (E.G. INVESTMENT BROKER)

COMPLETION OF THE ESTABLISHMENT: COURT DECISION FOR ENTRY INTO THE COMMERCIAL REGISTER

PUBLICATION OF THE REGISTRATION IN THE STATE GAZETTE

REGISTRATION AT THE TERRITORIAL DIVISION OF THE REGISTRY AGENCY UNDER THE REGISTRATION SYSTEM BULSTAT FOR ISSUANCE OF AN IDENTIFICATION NUMBER WITHIN SEVEN DAYS AFTER THE ESTABLISHMENT OF THE COMPANY

FULLY OPERATIONAL COMPANY

FORMS OF BUSINESS ORGANISATIONS

2006-06-19T15:48:00.000+03:00

Bulgarian legislation recognizes two distinct types of business enterprise. The legal differences between them concern the allocation of liability and the legal identity of the entity:

? Partnerships
? Corporations

Under the Commercial Code, the following types of commercial corporations are open to investors:

general partnership (unlimited partnership)
limited partnership
partnerships limited by shares
limited liability company
single-owner limited liability company
joint-stock company
In addition to the above enumerated types of commercial companies, other forms of business organization recognized under Bulgarian law are:

joint venture
branch
trade representative office
sole trader
co-operative
Among the above listed forms of business organization the most appropriate types are the limited liability company and the joint-stock company. These business types exist as separate legal entities and offer their shareholders limited liability.

Limited Liability Company (OOD)

Limited liability companies may be composed of natural persons or legal entities and consist of at least 2 partners. A single-member limited liability company (EOOD) is a limited liability company which capital is owned by one person. The overall share capital must be at least BGN 5000 and the minimum capital contribution by each shareholder (the amount of each share) is BGN 10. The quotas of the members of the company might be unequal. All partners are personally liable for the debts of the company up to the amount of their contribution, however, partners are not held liable for the unpaid portions of others' contributions. Shares held in a limited liability company are non-negotiable and may be transferred only with the approval of the other partners. Transfers must be approved by at least 75% of majority vote, with at least 75% of the total capital represented. Limited liability companies are also prohibited from engaging in banking or insurance business. A limited liability company differs from the joint stock company in that its capital is not divided into shares of stock nor represented by share certificates. There is no board of directors for a limited company. Instead, the appointed manager or managers have authority to run the company.

Joint- Stock Company (AD)

Joint-stock company is defined as a company having its own trade name and a predetermined amount of capital divided into shares. The liability of the shareholders is limited to their capital.

The structure and organization of joint stock companies are subject to regulation by the Commercial Code. However, the founders of joint stock companies are afforded significant flexibility in drafting the articles of association, thereby serving the needs of the specific venture.

Joint- stock company is established pursuant to a decision of a founding meeting of all persons (natural persons or legal entities) who are to subscribe shares in the company, or pursuant to a resolution of the sole shareholder. Joint-stock company which capital is owned by one person is called single-member joint-stock company (EAD) The overall share capital must be a minimum of BGN 50 000 and the minimum capital contribution (the minimal nominal value of a stock) by each shareholder is BGN 1.

The capital of a joint stock company is divided into shares of equal value which are treated as negotiable commercial paper. The shares may be issued in registered or bearer form. Both of them might be preference shares. Registered shares are transferable by means of endorsement and must be recorded in the registered stockholders register. Other conditions for the transfer of registered shares might be stipulated in the company's articles of association. Bearer shares are freely transferable by means of delivery.

Decision making in a joint stock company is by majority vote. There are certain provisions for protection of the minority interests.

Establishment of Enterprises with Foreign Investment

Bulgarian legislation provides for establishment of enterprises with foreign investment. These must take the form of any of the business organizations stipulated in the Commercial Code. There are no limitations as far as the share participation of foreign persons is concerned and so is the extend of their investment.

Joint Venture

Joint venture is a company formed jointly by a Bulgarian and a foreign partner. There are no limitations as far as the share participation of foreign persons is concerned and so is the extend of their investment. Joint ventures must take one of the forms of business entities under the Commercial Code. Corporations established by foreign joint venture partners with or without a Bulgarian partner are treated as Bulgarian corporations (local persons) and are entitled to all rights available to Bulgarian companies under the Commercial law.

Branch

Foreign nationals and companies can register a branch provided they are registered abroad and are entitled to engage in business activities under the national law. A branch is a part of the main company, but with a different seat. It is entered into the commercial register of the court at its location. A branch keeps account books as an independent company. A branch of a foreign company prepares a balance sheet. No authorized capital is needed for its opening.

Representative office

Foreign persons entitled to engage in business activities under their national legislation may set up representative offices, which are registered at the Bulgarian Chamber of Commerce and Industry. The representative offices are not legal entities and may not engage in economic activities. They may only engage in activities related to marketing, finding clients, establishing contacts within the country, as well as any other activities, which are not considered as economic or commercial by virtue of the law.

Like the Bulgarian entrepreneurs, foreign investors have to register their activities in any of the above listed forms of business organization with:

the Registry Agency under the registration system BULSTAT for issuance of an identification number;
local offices of the National Revenues Agency, if foreign investors have employees on their pay-roll;
Customs authorities when foreign trade operations are performed.

Currency and Exchange Control

2006-06-19T15:42:00.000+03:00

The new Law on the Bulgarian National Bank voted by the Parliament in June 1997, and the new Law on Banks adopted in July 1997, introduced a currency board in the country effective as of July 1, 1997. After the introduction of a currency board, all constraints on trading with hard currency within the country were removed. Local banks can sell hard currency to physical and legal entities without any limitations. The local currency is internally convertible.

The currency unit in Bulgaria is the Bulgarian Lev. Before July 5, 1999 it was denoted as BGL. Since the date mentioned, the Bulgarian Lev has been denominated in a ratio BGL 1,000 to BGN 1. At present the BGN is pegged to the Euro at the rate of BGN 1 per EUR 0.51129. Central exchange rates are quoted daily by the BNB for statistical and accounting purposes only. The Bulgarian National Bank (BNB) denominations are: Notes BGN 1, BGN 2,BGN 5, BGN 10, BGN 20, and BGN 50; Coins BGN 0.01, BGN 0.02, BGN 0.05, BGN 0.1, BGN 0.2, BGN 0.5. The Lev denomination has facilitated payments, accounting and exchange operations.

Every local or foreign person may own an unlimited number of accounts in any currency, in any bank in Bulgaria. There are no restrictions on the repatriation of earnings, capital, royalties or interest with regard to the foreign investments and repatriation payments can be made freely.

The foreign exchange regime is based on the principle of freedom of concluding transactions, actions and payments. Transfers are governed by the Foreign Currency Act (effective as of 1 January 2000); the regulation on export and import of Bulgarian Leva and foreign currency in cash, precious metals and stones (1999); the regulation on trans-border transfers and payments (1999); and the regulation on registration by the Bulgarian National Bank (BNB) of transactions between residents and non-residents (1999).

Bulgarian citizens as well as foreigners may take Bulgarian Leva and foreign currency of up to BGN 20,000 or its foreign exchange equivalent out of the country without documentation. However, the export of Leva and foreign currency between BGN 5,001 and BGN 20,000 or its foreign exchange equivalent should be declared at the customs. Transfers above BGN 20,000 must have a prior approval of the BNB. Foreigners are permitted to export as much currency over the foreign currency equivalent of BGN 20,000 as they have imported into Bulgaria without prior approval.

Payments abroad made by businesses (or self-employed business people) can be executed only through bank transfers. Transfers over BGN 20,000 for current international payments (imports of goods and services, transportation, interest and principal payments, insurance, training, medical treatment and other purposes defined by the Bulgarian regulations) must be supported by documentation showing the need and purpose of such payments.

The Bulgarian property renaissance

2006-06-14T08:58:00.000+03:00

The latest property hotspot which is attracting thousands of ordinary British investors is Bulgaria.

And the interest is growing by the day. It's phenomenal!

Well, what's up?

Bulgaria, once known to the wider public only as a satellite country of the Soviet bloc, is making its entry into the western world as a fully-fledged democracy with a vibrant free economy. A member of NATO since 2004, Bulgaria is due to enter the EU in 2007.

Now the world is discovering Bulgaria - a country of amazingly contrasting landscapes, ancient traditions reflecting its rich cultural heritage, an excellent climate - neither too hot, nor too cold - and the allurement of an incredibly low cost of living. And only a three-hour air flight from London. And the price of air tickets is tumbling.

Under such circumstances, Bulgaria has become more than a popular tourist destination. It is now the choice of many ordinary British people for their first home-abroad investment. Many have been attracted by the natural advantages of the Black Sea coast, always a prime holiday destination. Increasingly interest has turned to winter ski resorts like Bansko and Pamporovo. Of course, Bulgaria's capital Sofia also offers unique advantages for the property investor, with its chic suburbs like Boyana, Simeonovo and Dragalevtsi so close to the ski-slopes of Mount Vitosha.

The right choice

Approaching the matter of first-time investing in a home-abroad in Bulgaria, means, in practice, approaching the right Real Estate agent, who can give the prospective investor, first of all, an objective assessment of the advantages of buying property in Bulgaria, but also what pitfalls to avoid. There are now thousands of agents promoting Bulgarian Property, some based in the UK, some in Bulgaria, some offering every kind of property, new and old, all over Bulgaria, some specialising in particular locations, and some dealing exclusively with so-called off-plan.

Unfortunately, many would-be buyers are attracted only to the fame of the incredibly low prices for acquiring a country cottage, somewhere within a 50-mile distance from the Black Sea coast, or in a mountain village an hour's drive from one of the renowned ski-resorts, or an apartment, "in need of some refurbishing", in a central location in Sofia. These are all traps for the unwary, as some have found out to their disappointment. Often, such houses are in a very poor state of repair, without running water or sanitary facilities. Some apartments of the communist era and even before may be very cheap, but structurally they have a short life. There may be a problem of legal ownership and, above all, it is still not possible for non-Bulgarians to own land, without creating a Bulgarian holding company.

In the vanguard of the numerous agencies promoting the booming Bulgarian property market, are those specialising exclusively in brand new, off-plan developments. They aim not simply to provide a "one-stop" service for anyone thinking seriously to invest in Bulgarian property, but they will see the prospective client through every stage of acquiring the property of his choice, getting a mortgage, assisting him also in the process of renting it in and out of season.

These companies, noted for their ethical, customer-friendly profile and their inside knowledge of the Bulgarian emerging market, pro-actively pursue the investors' interests, not only guaranteeing peace of mind for those who have recently discovered the astounding opportunities of buying property in Bulgaria, but above all by giving the best advice on every aspect of his investment. Mortgages and finance, insurance, property management on the clients' behalf, legal questions (should they arise) - nothing should be outside the orbit of service to the investor.

The partners of such companies will have built up an extensive network of associates in Bulgaria and are totally familiar with the local conditions, as well as the most recent developments in harmonising the country's economy, laws and institutions to EU norms. At the same time, every client's needs are treated with the serious attention to which he or she is fully entitled.

Visits are organised to Bulgaria for prospective clients, in close collaboration with the developers of the properties, in which they are interested. The "off-plan" specialist will be concerned to see that clients are regularly informed about the progress of their properties.

The Black Sea coast

There is a large and varied portfolio of "off-plan" properties to suit both the preferred location of each client and, of course, his budget. In the early stages of what has been referred to characteristically as "the Bulgarian Property Renaissance", the Black Sea coast resorts were especially in demand. They were hotly recommended as the new Costa del Sol. Several of these same developments are handled by different Real Estate companies in the UK, but not all of them have the required expertise in Bulgarian property promotion.

One-, two- and three-bedroom apartments, as well as studios, are on offer at various locations along the extensive, broad sandy beaches, around the highly-popular Sunny Beach, close to the UNESCO-protected medieval town of Nessebur, on its own peninsula. Here, between the principal coastal cities of Varna and Bourgas (both served by regular and charter flights in the summer season), there are a close-knit group of resorts, Byala, Obzor, Elenite, Sveti Vlas, Ravda, each having its own special atmosphere. North of Varna, towards Golden Sands, Albena, Balchik and Kavarna, where a number of new golf courses have been constructed, properties tend to be little more pricey, reflecting the more exclusive atmosphere of these Northern seaside resorts. At Rogachevo, for instance, close to stylish Albena, custom-designed villas, the utmost in fine taste, are in the final stages of completion. Again, to the south of Bourgas, close to the charming resort of Sozopol, a number of fantastic, but quite affordable studio, one- and two-bedroom seaside apartments await discerning buyers. Further south, where the Ropotamo River and Strandza mountain range of Bulgarian Thrace meet the sea, notably at Lozenetz and Tzarevo, there are some highly attractive "aparthotel" developments for those, who particularly like the environmental combination of mountain, sea and sun, as the perfect ambiance to relax.

The ski-resorts

Bulgaria is fast becoming Europe's most popular winter sports destination, with ski-resorts like Bansko, which hopes to host the Winter Olympics in 2014, and Pamporovo, a purpose-built ski centre, the southern-most in Europe, with 120 days of guaranteed sunshine during a winter ski season of 5 months, and Borovetz, the original Bulgarian winter resort, founded by Prince Ferdinand of Bulgaria in 1896.

In Bansko, which has become a great favourite with investors, a number of outstanding apartments, totally new developments, are appearing on the market. Here the ski resort grew up in an old market town, with many memorials of the Bulgarian National Revival. Old and new blend harmoniously to create an ideal, welcoming environment for lovers of winter sports.

Pamporovo, however, is also rapidly gaining popularity with British investors, with developments like the Orpheus Valley complex, a stunning gated community in two main blocks, very close to the ski-slopes, with many inclusive features. In both of these resorts, there are several 4 and 5-star hotels, and a large variety of restaurants, clubs, pubs and fitness centers. During the summer, they become centers for mountaineering, walking and environmental tourism.

Sofia

Sofia has been a major city in the region of SE Europe, since the Roman times. Then known as Serdica, it took its present name from the 5th century Church of St.Sophia, close to the more recent gold-domed Cathedral of St. Alexander Nevski, the pride of the Capital, since 1878, of the revived Bulgarian state. With its broad avenues and lush, green parks, its theatres, high-capacity 4 and 5-star hotels, cafes and restaurants, its fashionable boutiques and new shopping malls, Sofia has become, and continues to developing into, an elegant city, with an ever-growing attraction for foreign business and residential investment. The continental climate is pleasant in summer and mild in winter.

But the joy of every Sofian is Mount Vitosha, which is itself a ski-resort and much more beside, a place of recreation for everyone. Just 10 minutes drive from Sofia city centre, the green suburb of Boyana provides an ideal base for the Capital and yet at the foot of the ski-slopes of Mount Vitosha. Next to Boyana, just off the Sofia City ring road, are two other very classy residential suburbs, Dragalevtsi and Simeonovo. Here also, Real Estate developers have custom-built villas and apartments, built to the most exacting European standards, which are particularly attractive to British and generally to foreign buyers, either as second homes or as buy-to-let investments, catering particularly to the needs of a growing foreign business community.

The investor

In the last two or three years, with Bulgaria characterised as an "emerging market" and "a hot property spot", an eclectic group of discerning investors has already signed contracts for off-plan properties in all the above-mentioned locations. The appreciation in property values has already gone up by as much as 30 per cent in the past year. An increase of about 20 per cent is quite likely within the next year, and so the success story continues. This speaks for itself and explains why Bulgaria has become the current favourite choice for property investors not only from the UK, but also Ireland, Germany, Greece and other EU countries, anxious to secure a base before the magic date of 2007, when Bulgaria joins the EU.

Stelios Alex. Rigopoulos

Europe Starts from Bulgaria

2006-06-14T08:56:00.000+03:00

Bulgaria will most probably become the southern border of the EU as of 2007.
A flurry of activity is running there for the preparation of the state for its EU membership.
A wired fence still exists along the Bulgarian-Turkish border: the old “iron curtain”.
“No one has taken care of it”, the head of Svilengrad border police service Stoycho Dimitrov says. A big map of the Republic of Bulgaria is hanging on the wall across Dimitrov’s desk. The police officer circles with his pen the black line. The borders that must be monitored are more than enough in the so-called border triangle marked on the map. The hilly area of the Strandzha – Sakar Mountain that runs down to the Black Sea, is not as populated, while thick broad-leaved woods make it hard of access.

Tow-cars and modern equipment

Bulgarian authorities have given up relying on the wired fence since the time of socialism. Now they work with modern technical equipment, Dimitrov explains. Noctovision devices, thermal imaging cameras and TETRA radio connection are among the main equipment of the border police officers. According to the data provided by the Interior Ministry 171 people have been detained so far trying to cross illegally the “green zone”. Bulgaria is a constant transit corridor for human trafficking from the Middle East and Africa, whose target are the Western European countries.
“Residents of villages, who know the surrounding routes and the monitoring system help people pass the borderline illegally”, Dimitrov says. Each “assistant” is paid between EUR 500 and EUR 1,000 for their help. There were often cases in the past when border police officer added up big bulks to their salaries for “shutting their eyes” to illegal border crossings, Dimitrov explains.

The Future Door to the EU

Illegal passing of border is in deed getting much and much harder. With the help of the funds under the PHARE program, amounting to over EUR 12 million, an intersection of 270 km along the Bulgarian – Turkish border is getting equipped. The border checkpoint of Kapitan Andreevo-Kapykule is the future door the EU. This is where the main road between Europe and Asia runs together with the Pan-European corridor IV. A string of trucks has already formed waiting for their documents to be processed. The traffic through the checkpoint is huge: over 5 million people, 800,000 cars, and 500,000 trucks have crossed the checkpoint last year. And their number keeps on rising every year.

Close border control

When on duty, people must bear responsibility. “Considering that we’ll most probably become an external border of the EU very soon, really strict rules are applied here”, head of the duty Kostadin Kadev points out and shows proudly their new acquisitions - new working places equipped with modern computers connected in a unified national network. A new track is being constructed at the moment for heavy-freight vehicles, while the customs had got a new loads and shipment check hall.
There is a caption in German stating: “You don’t pay here” in each cabin of the customs officers. Officers have badges with their names on, and there is also a complaint box, where people can post their complaints and opinions. It is not only due to the increasing criticism on behalf of Brussels that Bulgarian authorities are trying to improve their image, which they owe mostly to the local population since the word “custom officer” in Bulgaria is equal to “corruption”.

Sex-tourism

Svilengrad is among those Bulgarian towns that are often visited due to the border. Many of the town’s residents who work in the police, the customs house, in cafes, casinos, shipping agencies serving heavy-freight trucks, and in hotels earn good money.
Every Friday groups of Greek and Turkish tourists flow into the town for shopping… and not only shopping.
Naturally, prostitution exists, and we cannot deny this, the head of the police office Nikolay Sapundzhiev states. However, he refused to comment on sex-tourism.

Joint trans-border cooperation

This region entered the borders of Bulgarian in 1912. Now only the 300 meter impressive stone bridge remembers the time of the Ottoman rule and the fact that the town used to be called Mustafa Pasha.
“The historical relations between the Balkan people are contradictory”, the mayor of Svilengrad Georgi Manolov comments.
Yet, the mayor sees no problem in Turkey’s accessing the EU one day. But his homeland is first on the line.
“We live here in the ‘end’ of Bulgaria, but this is where Bulgaria begins”, Manolov says.
“And on January 1st 2007, we’ll be in the EU”, he said hopefully.

Der Standard

Volunteers for Economic Growth Alliance

2006-06-14T08:55:00.000+03:00

NEW BRAND TO PROMOTE QUALITY TOURISM PRODUCTS IN BULGARIA

Volunteers for Economic Growth Alliance (VEGA) introduced a new Authentic Bulgaria brand for quality tourism products.

The brand would be assigned only to small hotels and restaurants fulfilling requirements for authentic and innovative tourism products, Darik Radio reported. The quality brand would help the functioning state certification system, already imposing basic international tourism standards.

When choosing which venues to be given the brand, VEGA will take into consideration several factors including hospitality, special atmosphere and traditional cuisine.

Bulgaria's main objective was to attract wealthy tourists demanding high-quality services, Darik Radio reported. The introduction of the quality brand would increase the tourism sector revenue, Darik said.

VEGA is financed by the US Agency for International Development (USAID). VEGA provides technical expertise to private and public companies and NGOs. With the help of volunteer experts it aims at boosting economic growth in developing countries.

Winter Olympic Games 2014

2006-06-13T08:54:00.000+03:00

·Sofia is the only capital city that is a candidate for these games. The candidature of a country's capital has a lot of advantages when it comes to solving logistical, administrative and security problems.

·Years of political stability and steady economic growth of Bulgaria are going to be complimented by the country becoming a member of the European Union.

·The greater part of the outdoor sport venues are existent and very little additional work is required for them to comply with Olympic standards.

·Both Bansko and Borovetz are ski centers with international recognition and are well known tourist destinations. Investments in their accommodation capacity and infrastructure have been very significant in the last five years.

·The Olympic legacy is going to be very strong in Sofia, because the indoor arenas needed for the games are planned in the most densely populated parts of the city, which lack almost any sport facilities.

·The Government of Bulgaria has undertaken an ambitious program of modernization of the transport infrastructure of the country, which will take place with or without the Games being awarded to Sofia.

·Large infrastructure projects related to the bid will still be completed, including the northern stretch of the Sofia highway belt, Sofia subway extension, Sofia-embracing Lyulin highway and the Struma highway.

·The 2014 bid is one of the best chances for Sofia to improve its infrastructure hosting the Games would give winter tourism and the country as a whole, a strong push.

Balkan Alliance of Hotel Associations

2006-06-13T08:53:00.000+03:00

BULGARIA AND BALKAN COUNTRIES TO WORK TOGETHER ON TOURISM DEVELOPMENT

The Balkan Alliance of Hotel Associations (BAHA) held its first meeting from June 2 to 5.

Representatives from Bulgaria, Macedonia, Serbia, Montenegro, Bosnia and Herzegovina, Croatia, Romania, Ukraine, Turkey and Tunis gathered to discuss problems in the tourism sector in the region, Capital newspaper reported.

One of the ideas proposed during the forum was offering common tourism products like a 10 to 14-day trip in several Balkan countries. Another suggestion was negotiating a common minimum accommodation price.

The latest tendencies show that foreign tourists are interested in 'more than just sunny beaches' and prefer tour packages including trips to several countries with opportunities for cultural and festival tourism, Capital said. Balkan states usually specialise in sea, mountain, culture, urban, rural, spa or eco tourism and uniting these services into a single package would produce better financial results, Capital added.

Director of HORES, Serbia's hotel organisation, Branko Krivokapic said that common packages were especially beneficial for Serbia as the country lacked the natural resources to develop tourism.

Attracting larger number of tourists means that Balkan countries should work on improving the service quality and increasing prices. Vitan Ivanov from the Council of Tourism – Sofia said that low prices harmed Bulgaria's image abroad where it was advertised as Europe's cheapest destination.

The Alliance proposed the creation of tourism schools to improve the qualification of the workers in the sector. Other ideas include abolishing the visa regime for the Balkan countries and providing transport services to clients, de-monopolising the transport market.

Bulgaria and Romania: The Balkan Tigers

2006-06-12T19:54:00.000+03:00

Bulgaria and Romania are currently in the scope of the inquisitive look of the EU: On may 16th the European Commission reported on the progress of the two states. The result stated that Sofia and Bucharest are basically ready to join the EU on January 1st, 2007. Yet, some gaps in different spheres could still be felt, which imposes additional check on their readiness to be made in September. However, despite the putting off of the final decision for mid September, we could say that the two states stand great chances of joining the bloc in time. This makes it crystal clear: the two states, which are often defined as “the tigers on the Balkans” considering their geographical location and economic growth, are now in the state of an immediate leap towards the EU.

Significant progress has been achieved as compared to last year

Since 2002 the bank and financial fund Deka has been regularly surveyed the process of convergence of the Central and Eastern European economies to the Western European standards. The analyses made by the financial institution show that an undisputed progress ahs been achieved in the process of transformation. This positive trend could be observed in the total of 8 – 12 states included in the survey. The economic analyses of Deka is based on the so-called macroeconomic scoring-model, which accounts for the progress in the field of public institutions, currency policy, real economy, and fiscal convergence. After reviewing all the results, a general assessment is made on the economic environment.
What is, according to Deka, the progress of Bulgaria and Romania’s economies in complying with the EU ones?
We should first point out that compared to last year the two countries have scored a huge leap in their development. In contrast to Turkey and Croatia, Sofia and Bucharest are already one step ahead. The countries are constantly improving their indices in all spheres that used to be highlighted for being lagging behind before. Thus, Bulgaria managed to register a comparatively high growth of the level of GDP. In the case of Romania, indices are pretty similar to those of Bulgaria after it became known that the inflation rate is following stable decreasing trends, which could also be referred to capital interest rates.

The Balkan tigers on the way up

The dynamic of approaching is one thing, while the level of analogy is completely different. In deed the Balkan tigers got on the road to getting closer to the EU standards some years ago. Yet, some negative trends could still be observed, in particular in Bulgaria that has registered some lagging behind in the field of real economy. Bulgaria ranks on one of the last four positions in the list together with Turnkey and Croatia. However, the fiscal state is positive: While EU founder states, such as Germany and France, are still experiencing some setbacks in covering the Maastricht criteria, the 3% border seems not to be such a great problem for Romania. Bulgaria has even posted budget surplus. Since the EU is a political project, we could say that the decision on whether Bulgaria and Romania are prepared enough for full-fledged membership will be made on political level. We should point out here that EU accession has a negative effect on the macroeconomic indicators – a circumstance that is eloquent enough about the justness of putting to doubts some of the candidate member states.

Frankfurter Allgemeine Zeitung

No Visas to Israel

2006-06-12T18:52:00.000+03:00

An agreement for visa removal was signed Sunday by Bulgarian President Georgi Parvanov and his Israeli counterpart Moshe Katsav. Under the agreement, Bulgarians will need just an international passport in order to visit Israel, but only for a period of six months. Visas will be required only when the period of stay is longer than six months or when the visit is with the purpose of working there.
The Israeli President estimated highly Bulgaria's role saying it was an island of stability on the Balkans and expressed the gratitude of his people for the support of the Bulgarians for the Jews since the Middle Ages till today. Georgi Parvanov stated that the talks with the Israeli head of state had been focused not so much on the past, but rather on the future. Parvanov expressed his hope that the talks would boost the bilateral economic relations.

Tourism Reservations Portal

2006-05-29T09:12:00.000+03:00

The first Bulgarian Internet portal for real time tourism reservations for different world destinations (hotelbg.com) was presented on Sunday in Sofia.

It provides the user with information in different language about the picked resort or settlement, its history and famous faces and places. The reservations are made immediately and the system automatically provides the tourists with the information whether there are vacant places.

The chair of the Bulgarian Hoteliers and Restaurateurs Association Blagoy Ragin specified that almost 70% of the reservations in the US are made through the Internet, whereas in Europe their number is 30%.

The new portal will be presented to the Bulgarian tourism representatives on June 3 and 4. So far 3,000 Bulgarian hotels and other accommodation organizations have been included in the system.

Cheapest Tourism Destination

2006-05-29T09:11:00.000+03:00

Bulgaria - Europe's "Cheapest" Tourism Destination

Bulgaria is Europe's cheapest tourism destination, according to a Thomas Cook Cost of Holiday Living Index (TCCHLI), a survey into the cost of living in the world's leading holiday resorts.

Europe's cheapest destinations according to the TCCHLI survey for 2006 were Bulgaria, (overall cost: GBP 34.73), Spain (overall cost: GBP 44.72) and Majorca (overall cost: GBP 45.98).

In its summer 2006 survey Thomas Cook surveyed prices on 16 typical holiday items across 25 popular worldwide destinations. Indian state Goa has, once again, polled the world's best bargain holiday spot, a feat repeated for the third year in a row.

The survey revealed that long-haul destinations such as Goa, offer greater savings in holiday spending compared with Europe, with Goa, Brazil and Tunisia all cheaper overall than even Bulgaria, Europe's cheapest destination.

Bulgaria in bloom

2006-05-25T09:50:00.000+03:00

With its Black Sea coast and marvellous mountains, Bulgaria is expected to become a major European tourist destination when the country finally negotiates itself into the EU.

And at the end of May the country celebrates its history of rose production and the beginning of the harvest with the Kazanlak Festival of the Roses.

Dating back to the beginning of the twentieth century, rose farmers traditionally deck themselves in the red and white flowers they grow, don mysterious masks, and parade proudly through the ravishing Rose Valley.

A celebration of beauty and the dependence of the people in the valley on a fragile flower, one of the most important events in the festival is the choice of Queen Rose.

A typical beauty contest, the chosen girl is crowned in a solemn ceremony, accepting the responsibility for rewarding the most promising rose pickers later in the festivities.

With an altitude of 710m, many light rainy days and sheltered from intense sun, the conditions in Kazanlak's Rose Valley make it one of the best bases in the world for rose oil.

The planting method known as 'kesme' has been passed down from generation to generation over more than three centuries, while the innovation of multiple distillation made rose oil one of Bulgaria's most important and distinctive industries, used around the world for the production of perfumes.

This year the Festival of Roses runs from May 30th to the first day of June.

Why Buy Property In Bulgaria?

2006-05-09T05:02:00.000+03:00

Located in South Eastern Europe, Bulgaria is bordered by Greece and Turkey to the South, Romania to the North and Macedonia and Serbia to the West. Its Eastern Border is formed by the beautiful Black Sea Coast. A country of outstanding natural beauty the environment remains unspoilt and is incredibly varied. A relatively small country, a few hours drive will take you from the snow covered central Pirin mountain Ranges to the long sandy beaches of the Black Sea coast.

Forming the heart of several of ancient histories greatest civilizations Bulgaria's rich culture is reflected in a vast number of architectural treasures. Only Greece and Italy have a greater number of historical monuments. Throughout the country you will find ancient Greek sites, Roman amphitheatres and Byzantine churches. The country is home to 160 monasteries, 36 cultural centres and 40,000 listed archaeological monuments. Seven sites have achieved a coveted place on the UNESCO world heritage list.

What is the cost of living in Bulgaria?

Bulgaria is said to have one of the lowest costs of living in Europe. A wonderful meal for 2 including wine will rarely exceed around £7.00 GBP.

Quality of life

First time visitors to Bulgaria are surprised by its diversity and its stunning natural beauty. For years a real effort has been made to preserve the country's rich and unspoilt flora and fauna. As a result, Bulgaria is ecologically one of the purest countries in Europe, with exceptionally clear air and water resources. There are 7 national parks, more than 3000 protected natural sites and 17 bio-spherical reserves (the greatest recorded number in Europe). There are also 419 protected animal species and 63 protected types of plant.

Not only is the quality of life in Bulgaria good, but the cost of living is one of the lowest in Europe. A meal for two, made from locally grown and organically pure products and including a bottle of nice wine will rarely cost you more than six or so pounds. A quality beer will cost 40 pence!

The Black Sea Coast of Bulgaria

The 380 kilometres of beaches are amongst some of Europe's cleanest and safest. Many of them have been awarded prestigious "Blue Flag" status. The region enjoys average summer temperatures of between 25-30 degrees. The season extends from April to October. Coupled with the renowned low cost of living it is easy to see why the Black Sea coast provides and an ideal summer destination - and is surprisingly easy to access from an ever increasing number of European Airports.

Even though the Black Sea coast is an established tourist area, with resorts such as Sunny Beach attracting tourists since the late 1950's, it has recently become one of the fastest growing summer tourist destinations in Europe. So fast growing in fact that last year demands for tourist beds outstripped supply by 20%.

Bulgaria is said to be the fastest growing holiday destination for 2004 and at least 200,000 Britons were likely to visit the summer resorts this year - nearly double last year's total. Next year three new major UK tour operators will also be offering summer holidays in Bulgaria.

The Bulgarian winter resorts

Modern Borovets is one of the largest and increasingly popular winter resorts in the Balkan region. It is situated on scenic northern slopes of the Mousala Ridge in the east of the panoramic Rila Mountains. The resort lies huddled in thick pine forests some 1390 meters above sea level. The area has a long history - attracting people to ski here since as early as 1896 - taking advantage of the many pistes which rise to a staggering 2,600m!

The resort is a perfect place to enjoy excellent facilities off pist as well as on the snow. Many restaurants are clustered around the well appointed and superbly equipped major hotels, making dining a real pleasure with an endless array of contemporary and traditional eating places available. Borovets is the perfect place to relax and provides many other recreational opportunities throughout the year. The climate is considered to be healthy, enjoying beautifully clean air, mild winter temperatures and of course mountains of snow! Usually the slopes at Borovets are covered in snow from mid December through to April.

Borovets is also easy accessible with miles of first class road connects it with Samokov, the most sizeable town in the area. Sofia is just 45 minutes away. There is a regular bus transport into Samokov every 30 minutes and excellent links from there to the capital.

Bansko is considered by many to be Bulgaria's number one ski resort. It has the most modern ski facilities in the country and is a well-established destination for winter sport enthusiasts from all around the world. The town of Bansko is located 925 m. above sea level, and its ski slopes vary in altitude from 2000 m - 2600 m above sea level. It is some one hour from Sofia, but only 10 minutes from the bustling town of Razlog.

Bansko has developed into a favourite ski and snowboard destination, but also boasts unique architecture, has many historically significant sites nearby, as well as beautiful scenery and countryside for miles around.

During the recent years a multi-million Euro investment in a brand new state of the art skiing area has been made by Yulen, the company that is the licensed to provide the facilities within the Bansko skiing resort area. Furthermore, Bansko enjoys plentiful snow and therefore the season stretches from early December through to May! The longest season of any Bulgarian resort! During the last couple of years the resort has seen a massive investment in new prestigious hotels and recreational facilities .A brand new extension to the resort area also includes holiday apartments adjacent to the central hub of the Gondola and ski lift system.

Both Bansko and Borovets have bided for 2014 Winter Olympics.

Pamporovo builds up

2006-05-08T05:12:00.000+03:00

Administrative and bureaucratic procedures and the ill-developed infrastructure at the Pamporovo mountain resort were the main obstacles for building companies, according to Borislav Stoyanov, manager of the building company 21st Century.

Stoyanov said this on April 29 at the Real Estate Expo held in Sofia.

The same day, he announced that the construction of the Perelik Palace holiday complex in Stoykite, an area near Pamporovo, had started on April 29. The value of the complex, according to Stoyanov, was five million euro with area of 14 000 sq m; the scheduled opening date is November 2007.

In the meantime, the company plans to finish another project, the Rodopa House, which is being built in the centre of the Pamporovo resort. It is scheduled for opening in November this year.

The Rodopa House will have an area of 4000 sq m and a value of 2.5 million euro. Interest has been shown in the two complexes, mainly by foreigners, Stoyanov said.

Another building initiative in Pamporovo was announced at the expo, an apartment complex with a hotel section on the south ridge of Snezhanka Peak. Between 12 million and 15 million euro will be invested in it.

Pamporovo is experiencing a visible boost in construction, with the resort becoming an attractive destination for foreigners, mainly from Great Britain, the Netherlands and Denmark. Most of the buyers, per Stoyanov, were foreigners from Great Britain and Ireland.

Not everyone has welcomed the boost in construction at the resort. On April 29, the Union of Architects in Bulgaria, together with local mayors, organised a discussion on the problems of the Rhodope region in the Rhodope city of Smolyan, near Pamporovo. The boost in construction would chase away most of the tourists, according to participants in the discussion.

Specialists said that unless construction was not paused or limited, the mountain resorts would be overcrowded, as has happened with the resorts on the Black Sea coast. This inevitably would lead to the demolishing of some hotels, as in Spain.

The architects demanded new construction and infrastructure plans for the whole region, on which are to be based the new developments of the mountain. The plan should clearly point out the territories where hotel building would be allowed and where it would not.

Rural tourism, together with the eco tourism, must be among the priorities for the region.

At present, most of the municipalities in the region have outdated general construction plans. These general construction plans have often been changed to assist construction plans concerning specific particular objects, which, according to the specialists, was wrong.

Over the past three years, the boarding capacity of Pamporovo has increased three times. Today, the resort has 15 000 people in its hotels, when the planned number in the general construction plan from 1999 was 5600. The architects said that the whole resort area should be declared a protected area by the state, as it is with the Black Sea resorts, so that there could be stricter measures in terms of building sites.

In an attempt to answer the critics, the same day the municipality of Smolyan voted on the general construction plan of the region. The planned capacity of hotel beds, according to the plan, in Pamporovo would be 20 000. The Smolyan region would have 5361 beds and Chepelare, which is under the jurisdiction of Pamporovo, would have 14 000 hotel beds.

The plan has to be approved by the minister of Regional Development and Public Works. According to architect Vesselina Troeva, head of the team working on Pamporovo’s construction plan, the resort would soon reach the capacity of the project Super Borovets at Rila Mountain, where the planned number of hotel beds is 21 000. This would only mean the resort “would be turned into a city”, Troeva said for a local news agency.

The increased number of tourists in Pamporovo would only mean an increase of the electricity and water demand, analysts said. That was why new power units had to be built in the resort. Until present, such utilities have been built in a nearby village. The resort’s new needed supply would definitely meet difficulties in terms of water, the architects said.

Bulgaria's tourism in need of public-private partnership

2006-05-07T05:13:00.000+03:00

The Bulgarian state cannot afford to pay for large advertising initiatives and will count on public-private partnerships for popularising the country’s tourism abroad.

This first-of-its-kind revelation was made by State Agency on Tourism Chair Mario al-Djebouri in Veliko Turnovo on April 27. He was speaking before the opening of the third National Cultural Tourism Exchange in the northern Bulgarian city.

In al-Djebouri’s words, public-private partnerships should be employed in opening Bulgarian tourist offices in foreign countries, where Bulgaria has already become very popular as a vacation destination.

“The budget of our agency for this year is only 2.6 million leva, which forces us to look for alternative sources for funding the advertising of Bulgaria as a tourist destination,” al-Djebouri said.

In his view, commercial spots on world television channels like CNN are not a guarantee that the TV audience will find it worthwhile to visit Bulgaria. Therefore, he believes that Bulgaria should focus on certain target markets. Al-Djebouri gave the German capital Berlin as example, where Bulgarian ads will be posted in the public transport.

Public-private partnerships would allow foreign companies to become tourist representatives of Bulgaria in Scandinavian countries, Russia, the UK, Spain and other locations in Europe, he said.

The State Agency on Tourism expects a five to six per cent increase in the number of foreign tourists in Bulgaria this year and a total of about two billion euro in revenue in the sector, al-Djebouri said.

He announced that by the end of June, the agency will be ready with a strategy for the development of alternative forms of tourism, including cultural and historic tourism, religious, rural, eco, spa, adventure and golf tourism in Bulgaria. The agency will list all historical and cultural sites of national significance, which will be supported by the state.

Bulgaria’s lands were home to cultural and historical monuments of seven great European civilisations, whose artefacts, about five million of which have been discovered so far, have been exhibited in 236 museums, Bozhidar Dimitrov, director of the National Museum of History, told the tourist exchange in Veliko Turnovo.

He outlined four factors that are currently preventing Bulgaria from profiting from its cultural and historical sites. They are the non-defined ownership over many of the sites, the lack of mechanisms for conservation and restoration of monuments, the lack of infrastructure around the sites, and the absence of a PR strategy for the museums and the monuments.

After solving these problems, this country would be able to benefit from showing off its historical and cultural richness to foreigners, Dimitrov said.

A survey presented at the tourist exchange shows that the Madara Horseman is the most popular Bulgarian historical monument, followed by Rila Monastery and the ancient Thracian temples at Perperikon and Tatoul. Boyana Church and the bridges build by Kolyo Ficheto are also ranked as very popular.

“Cultural tourism is the cornerstone of our national spirit, but it is also a profitable business,” said Sonya Alexieva, member of the management board of the national Association of Hoteliers and Restaurateurs.

By Ivan Vatahov

BULGARIA'S CULTURAL TOURISM NEEDS MORE ADVERTISING

2006-05-04T05:03:00.000+03:00

Bulgaria failed to profit from its cultural tourism resources, director of the National Museum of History Bozhidar Dimitrov said.

In countries with developed tourism infrastructure, cultural tourism provides 30 to 40 per cent of the total tourism revenue. In Bulgaria the profit from culture tourism is less than two per cent, 24 Chassa newspaper reported.

Bulgaria had unique cultural tourism resources, Dimitrov said. The country has over 38 000 culture monuments and 236 museums with five million exhibits. Archaeologists have found traces of the first European pre-historic civilisation, Thracian, Greek, Roman, Byzantine, Bulgarian and Islam cultures on Bulgarian territory.

The tourism sector provides employment only for four to five months. If cultural tourism was developed, work places would be available year-round, Dimitrov said. Another advantage is that smaller Bulgarian towns, not part of the popular seaside and mountain resorts, will have the opportunity to become tourist destinations.

The development of cultural tourism requires monument renovation and road building for easier accessibility. The sector should consider finding some serious investment, Dimitrov said.

Tour operators do not offer trips to culture destinations even when opportunities and good infrastructure exist because of these setbacks. Such destinations are not mentioned in guidebooks and are not advertised.

The lack of advertising results in a low pilgrim tourism inflow. Although a piece of the Sacred Cross is preserved in the National Museum of History, the fact remains unpopular.

If Bulgaria's chief attractions, the golden treasures, are preserved in the country and not in foreign museums, this would also increase the cultural tourism revenue, Dimitrov said.

NATIONAL GEOGRAPHIC

2006-05-03T23:01:00.000+03:00

Bulgaria's cultural heritage will be presented in National Geographic magazine, archaeologist Nikolai Ovcharov said.

The National Geographic issue, dedicated to Bulgaria, will be issued in December, Ovcharov said. Most of the coverage will focus on the Thracian cultural heritage, Focus news agency reported.

Most countries, presented in the magazine, experienced a tourism boom afterwards, Ovcharov said. National Geographic is issued in 28 languages. Nearly 100 million people view each issue, Focus reported.

National Geographic representatives believe Bulgaria's culture heritage is valuable, Ovcharov said. Photographer Kenneth Garrett said the ancient settlement of Perperikon is comparable to the Egyptian pyramids and to the pyramids in Central America.

Ovcharov said the involvement of the National Geographic teams also demonstrates Bulgarian cultural sites are valued. National Geographic chooses the subjects of each issue and the magazine's reporters cannot be influenced to select a destination, Said Ovcharov.

Tourism developments expected in Bulgaria during May

2006-05-02T05:07:00.000+03:00

It has long been conventional wisdom that there are a number of things that Bulgaria needs to do to make its tourism industry sustainable.

One is to create greater synergy among the various bodies at national and local levels dealing with drawing tourists to Bulgaria.

Another is to come up with, at last, an innovative and credible international campaign to promote the country as a tourist destination.

Discussions in recent days have given some indication that progress may be made in the merry month of May, the month that traditionally sees an upswing in visitors as the start of the summer season.

On April 19, it was reported by Bulgarian news agency BTA that a national tourist board is to be set up on May 3.

According to Poli Karastoyanova, executive director of the Bulgarian Convention and Visitors Bureau (BCVB), members of the board of the new body are to include major investors in the tourist sector, airlines, banks, the Golf Association, the Bulgarian Association of Spa and Wellness Tourism and the Sofia City Council

The aim of the board will be to defend business interests in tourism. The board will have a network of representations abroad, Karastoyanova said.

She made the announcement after a working meeting between members of the BCVB and the chair of the State Tourist Agency (STA), Mario al-Djebouri.

Al-Djebouri called for unity in the tourist sector, saying that this would make it a lot easier for the STA to defend the interests of the sector.

He said that developing the tourist sector in Bulgaria requires long-term foresight rather than just seeking quick return on investment and profits. He said that unification of the sector would lead to more efficient participation in projects funded by EU structural funds.

He also addressed the subject of congress tourism, saying that it was one of the country’s priorities. The challenges facing it were dealt with in a special chapter in the new strategy for tourism development, he said.Karastoyanova said that beautiful resorts were not enough to say that Bulgaria was a well-developed tourism destination. Unresolved problems regarding infrastructure, old seaports, beach concessions, outmoded airports, the lack of a network of tourist agencies, regulation of the health care of tourists and inadequate advertising for the tourism sector remained key factors, she said.

According to Bulgarian-language media reports, the chair of the BCVB, Radisson SAS Grand Hotel general manager Martin Kolb, said that Bulgaria should regularly invite international journalists to show them the various options for tourism in Bulgaria. At this stage, a CNN advertisement would not be effective, because the county was not yet famous enough, Kolb was quoted as saying.

At a conference in the northern Black Sea resort of Nessebar, al-Djebouri announced that commissions from the tourism agency would conduct checks of hotels, restaurants and other tourism sites along the Black Sea coast from May 1. The inspections would be done of facilities that have already submitted applications for obtaining a categorisation status, he said.

About 100 applications for obtaining a category are processed weekly, he said. According to STA data, about 700 companies have yet to be registered and assigned a category.

Meanwhile, optimistic forecasts are in the air again.

Bulgarian National Radio reported that between 500 000 and 550 000 German tourists are expected to visit Bulgarian summer resorts this year.

Tour operator ITA will bring 150 000 tourists to Bulgaria, company representative Nachko Kozarev said.

Despite stagnation on the German tourism market, interest in Bulgaria remained high, Kozarev said.

German tourists were attracted by the affordable prices and the improving quality of the tourism service in the country. Some of the negative developments that might turn foreign tourists away included construction work close to hotels. The creation of closed vacation villages was one way in which this problem could be solved, Kozarev said.

BULGARIAN TOURISM INDUSTRY NATIONAL UNION ESTABLISHED

2006-04-27T10:12:00.000+03:00

Over 40 tourism organisations and private companies established a new Bulgarian tourism industry national union in Nessebar.

The major companies taking part in the union include Bulgarian Tourism Chamber, Bulgarian Association of Travel Agents (BATA), Bulgarian Hotel and Restaurant Association, owners of facilities in Sunny Beach and Golden Sands resorts.

Some of the participants have received invitations also for the establishment of a national tourism board on May 3, 24 Chassa reported. The two organisations should unite, Stefan Sharlopov, owner of Royal Holiday tourism company, said.

The union will accept new members until May 4. The date was chosen in view of the national tourism board establishment. People working in the tourism sector still hope for union of the two organisations, Sharlopov said.

Bulgaria's EU accession means tourism enters a new stage and the industry needs an active organisation, Krasimir Stanev, executive director of Albena AD said. The sector had to unite years ago to become internationally competitive, he added. The board aims at improving the country's marketing as Bulgaria is the only European state without tourism representation abroad.

Few weeks ago a survey showed Bulgaria is no longer among the ten most desired tourist destinations for Germans. Since the major part of foreign tourists in Bulgaria comes from Germany, this loss of popularity means the sector is in need of some reforms.

More foreigners expelled from Bulgaria in 2005

2006-04-25T09:46:00.000+03:00

Fifty per cent more foreigners were expelled from Bulgaria in 2005 than in 2004, and 20 per cent more were forcefully delivered to Bulgaria’s borders in 2005 than in 2004.

The figures are part of the Interior Ministry’s Migration Directorate statistics for the past year. The numbers will probably continue to rise, the Interior Ministry told The Sofia Echo, because they are part of a tendency that has existed for two years. The latter is also a result of the Migration Directorate’s improved administrative control of foreigners’ stays in Bulgaria and part of Bulgaria’s progress on the path to the European Union, the Interior Ministry said.

Of the 216 foreigners expelled from Bulgaria in 2005, most came from Turkey (61), Serbia-Montenegro (20), Moldova (19), Macedonia (16), Iran (10) and Iraq (10). Of the 993 foreigners who were forcefully taken to the border in 2005, 155 came from Turkey; 143 came from Armenia, 88 from Afghanistan, 75 from Moldova and 38 from Algeria.
Expulsions and forceful takings to the border fall under the so-called forced administrative measures of Bulgaria’s Foreigners Act.

According to the act, foreigners are expelled when their presence in Bulgaria is a serous threat to national security and public order. Foreigners are forcefully taken to the border if they cannot prove that they have entered the country legally, if they do not leave the country by the seventh day after a prolongation of their stay has been refused, or if it was found out that they had entered and dwelt in the country with fake or altered documents. Most foreigners dealing with imposed administrative measures had passed the border illegally and stayed after the allowed term, or had not left the country after they were denied refugee status, the Interior Ministry said.

On March 30, the Interior Ministry opened Bulgaria’s first Special Home for Temporary Accommodation of Foreigners (SHTAF) in the Sofia quarter of Busmantsi. Foreigners who cannot be immediately expelled or forcefully taken to the border are accommodated there. Such would be when foreigners do not have identity documents for travelling beyond the borders or documents needed for being taken to the border; when they do not have money to buy a travel ticket; when they are a threat to the security and public order in the country; or when their health does not allow them to travel.

The SHTAF can accommodate up to 400 illegally dwelling foreigners and is the biggest in the Balkans, Interior Minister Roumen Petkov said. It was built with Government money.

On January 1 2006, new requirements about the address registration of foreigners in Bulgaria entered into force. They require all foreigners to state the aim of their visit and their address in a written form upon entering Bulgaria. Foreigners in transit or exiting Bulgaria within 24 hours are not required to do so. Under the same law, hoteliers and their staff also have to include foreigners in a special register and provide information about them to the service for administrative control of foreigners or to the respective local police station.

Polina Slavcheva

MORE BRITISH TOURISTS VISITED BULGARIA'S WINTER RESORTS

2006-04-24T19:35:00.000+03:00

Balkan Holidays tourism agency registered a 35 per cent increase in the number of British tourists who visited Bulgarian winter resorts.

More than 25 000 people arrived in Bulgaria, using the services of the company, Dnevnik newspaper reported. For the 2004-2005 season Balkan Holidays registered a 70 per cent increase in tourist figures, compared to the numbers for the previous season.

Company representatives said the new infrastructure and hotels in leading ski resorts like Bansko, Borovetz and Pamporovo naturally increased the interest of foreign tourists.

Dnevnik reports Balkan Holidays is one of the leading companies on the British market, managing to bring high number of foreign tourists to Bulgaria. In 2005, the company attracted more than 165 000 British tourists, interested in both summer and winter tourism opportunities.

In the beginning of this year the company registered a slight decrease varying of three to four per cent. Other companies also complained from the lower interest toward summer vacation opportunities in Bulgaria.

Balkan Holidays managing director Radka Mineva said many British tourists wait for last-minute offers. These become available in July and August. The British market is well-known for early reservations and the development is unusual, Mineva said.

During the November WTM tourism fair in London Balkan Holidays received an award in the category tourism agency to European destinations. It also received a BMI Travel Award 2005 for best agency from Central and Eastern Europe.

Property investors driving Bulgaria's economy

2006-04-21T01:51:00.000+03:00

Investment in Bulgaria is becoming an increasingly attractive prospect for property enthusiasts from the UK and EU accession in the next couple of years is likely to boost this still further.

Property prices have been rising steadily for a number of years now as Bulgaria widens its appeal to a broader cross-section of the investment community. With the ski resorts including Bansko and Borovets improving annually and the Black Sea resorts also building up an impressive tourist industry, there is certainly a lot to look forward to in Bulgaria.

The Sofia Echo has today referred to reports in both the Dnevnik newspaper and the Wall Street Journal, both of which point to a significant rise in demand for properties in Bulgaria and in central and eastern Europe in general.

Bulgaria, the Czech Republic, Poland, Romania, Russia and Slovakia collectively brought in €5.8 billion through property deals last year, according to the report. This is thought to have represented a 38 per cent increase on the investment figure for 2004.

Writing for the Independent recently, journalist Robert Nurden remarked that thousands of Britons had now "seen beyond the cliches" associated with Bulgaria and were investing their money in the property market.

Mr Nurden went on to describe the sheer variety of investment opportunities in the country, with the capital city of Sofia one of the most notable. He suggests that the property boom has now reached the centre of Sofia, with locals also actively contributing to the market.

Bansko was also mentioned in his article, with the gondola from the town to the pistes rated as "second to none".

Bulgaria, largely on the basis of the potential that many see in its real estate market, is often referred to as the new Spain. It is a comparison that will be tested when Bulgaria gains EU accession, as this progression proved vital for Spain as property prices began to soar.

According to Mr Nurden, the parallel can apply specifically to Sunny Beach, which he suggests could feasibly become the new Costa del Sol. While Bulgaria has a long way to go before this could be considered an accurate description, the potential for growth has certainly encouraged many and the extent of the investment around the Black Sea regions is testament to this.

Property is generally extremely cheap in Bulgaria which is of course one of the key reasons that investors have taken such a keen interest.

Referring to data from imoti.net, however, the Sofia Echo has indicated that a number of key areas have already risen considerably in price.

Sofia's Ivan Vazov district is thought to be leading the way, with apartments in the area now more than €1,000 per square metre. The article points to the vicinity of medical and education centres as a key contributory factor, while Darik radio is reported as saying that the nearby Southern Park is also having an effect.

Experts suggest that property investment will continue to have a significant impact on Bulgaria's development in the next few years, but EU accession will clearly be central to the extent of the progress. With a diverse range of properties available, investors considering Bulgaria as an option are advised to seek expert advice before committing.

BULGARIA NEEDS UNIFIED TOURISM SECTOR FOR PROMOTION ABROAD

2006-04-20T12:27:00.000+03:00

Without a single position on tourism problems in Bulgaria, the country cannot lobby for its interests abroad, 24 Chassa daily reported.

Tourism in Bulgaria is 100 per cent private property and the interests of the country and the State Tourism Agency(STA) are protected by private organisations. These organisations, however, often disagree on measures to deal with problems, said tourism agency head Mario Al-Jeboury.

STA is ready to co-operate with tourism organisations, provided they come out with a unified position. Now it is almost impossible to lobby for Bulgaria's interests abroad. Without this partnership Bulgaria will fail to increase the tourist flow and revenue, Al-Jebouri said.

At present, tourism is among the most important sectors of the national economy, providing 13 per cent of the country's GDP and high employment rates in the active season.

Bulgaria has the potential to develop alternative forms of tourism like cultural, historical, religious, ecological, spa and congress tourism. The country needs the support of different organisations to be competitive on the European and world markets, said Al-Jebouri

Another factor to be considered is Bulgaria's EU accession. After the country joins the union, the tourism sector will receive funds only if specific projects and programmes are developed. For this aim, the tourism industry must consolidate, Al-Jeboury said.

Sofia rearranges symbols

2006-04-18T10:54:00.000+03:00

Sofia’s former communist Party House, today the second building of the country’s Parliament, will have a new symbol on top of its finial - a globe with greetings to the world and Europe.

This is envisaged in a new strategy, entitled “Sofia - Capital and Tourist Destination”, prepared by a working group from Sofia municipality with participation from tourist organisations and state institutions.

The metal fenestration-type globe will be three meters in diameter, and laser floodlights inside it will depict the horse tail of Han Asparouh (the flag of proto-Bulgarians), as well as some other flags related to the country’s past and present - the flag of the April Uprising (1876, against Ottoman rule), military flags and the official tricolour banner of today’s Bulgarian state.

In communist times, the top of the finial was decorated with a large red five-pointed star, which was later removed by authorities. The laser floodlights in the globe will show the star, too, as a reminder of that period in the country’s history.

Other important buildings to be highlighted with laser floodlights under the plan will be St Alexander Nevski Cathedral, the Sofia mosque and the synagogue in the capital, as a sign of the religious tolerance of which this country is proud.

The attraction is designed to be shown once each night. On official holidays and on Sofia Day (September 17), it will occur every 10 minutes from 7pm to 9pm. The cost of the project is estimated at 150 000 leva.

The municipality is also planning to install two cameras, on Sveta Nedelya Square and on the ski slopes on Vitosha Mountain, to constantly monitor meteorological conditions. The weather information will be provided real-time on television and via the internet. The introduction of this monitoring system will swallow a further 250 0000 leva.

A tourist information centre will be opened on Sveta Nedelya Square and it will have branches at the Central Railway Station and the Central Bus Station, Sofia Airport and the National Palace of Culture (NDK). The centre and its offices will serve as an intermediary between sector players like restaurants, hotels, tour guides, transportation and other service companies, and tourists in Sofia.

An online portal will be created with links to hotels, restaurants, medical assistance establishments, and legal and other services. Using the portal, tourists will be able to personally arrange the schedule of their visit to Sofia, without having to contact tour guides.

The strategy envisages also repairs to the lights of St Alexander Nevski Cathedral, as well as restoration for the crypt of the St Sofia Basilica and the city’s synagogue. The latter will become a museum and its dome, as well as the dome of the mosque, will be gold-plated.

Sofia municipality is negotiating with the board of trustees of the St Alexander Nevski Cathedral to allow visitors for a certain fee to climb to the belfry. The history of the cathedral will be presented in six languages.

The authors of the programme have the ambitious idea for Sofia to host a Balkan tourist exchange, as well as seminars on sports and cultural entrepreneurship. Special guided tours, Bulgarian cuisine tastings, and many other attractions are also part of the document.

Ivan Vatahov

BULGARIAN WINTER SPORTS STAR SUPPORT SOFIA 2014

2006-04-17T20:35:00.000+03:00

Sofia 2014 Olympic Bid Ambassadors Join Team

The Sofia 2014 Bid Committee for the Olympic Winter Games held a press conference today announcing the appointment of six new members to the team as “Olympic Bid Ambassadors.” The President of the Bulgarian Olympic Committee, the Mayor of Sofia, the President for the State Agency for Youth and Sports, and the President of the National Agency for Tourism all joined in the press conference to emphasize their collaboration and support for Sofia 2014 and to welcome the athletes as part of the team.

The Olympians joining the Sofia 2014 team are:

• Albena Denkova – Figure Skating
• Maxim Staviiski – Figure Skating
• Evgenia Radanova – Short Track
• Peter Popangelov – Alpine Skiing
• Pavlina Filipova – Biathlon
• Alexandra Jekova – Snow Board

“Hosting the 2014 Olympic Winter Games is a dream for all Bulgarian athletes,” said Stefka Kostadinova, President of the Bulgarian Olympic Committee. “These Games will provide an incredible opportunity to promote sport in Bulgaria, give our young athletes something to strive for and leave a lasting legacy for improved sports facilities for all Bulgarians to enjoy.”

The Sofia 2014 Olympic Bid Ambassadors will promote Sofia 2014 throughout their training and competition. The Ambassadors will also attend events and support the bid within Bulgaria.

Strong support for the Sofia 2014 is widely expressed countrywide. “The City of Sofia fully supports the bid,” said Boyvo Borisov, Mayor of Sofia. “We are pleased to work together with such a strong and enthusiastic team to present the best possible bid for Sofia.”

“All departments and agencies of government are in full support of the Sofia 2014 bid,” added Vesela Letcheva, President of the State Agency for Youth and Sports.

“Our purpose today is to welcome the Olympic Bid Ambassadors as part of our unified team pulling together all our resources to support our quest for the Olympic Winter Games,” stated Mario Al Djeburi, President of the National Agency of Tourism for Bulgaria.

Sofia 2014 is one of seven Applicant Cities bidding on the Olympic Winter Games of 2014.The International Olympic Committee is expected to announce a short list for the Candidate Cities on 22 June 2006. The final city will be selected in July 2007.

BULGARIA PRESENTED AS TOURISM DESTINATION

2006-04-15T09:14:00.000+03:00

Bulgaria will be presented as an attractive tourism destination during the St. Petersburg tourism fair, which started yesterday.

The tenth annual international tourism forum will last four days, Focus news agency reported. Through it, Russian tourism agencies get new contacts and information about various destinations and international tourism opportunities.

This fair is seen as one of the most representative tourism forums taking place in the beginning of the summer season.

Due to the importance of the event, the State Tourism Agency and seven tourism companies will represent Bulgaria. Participants will present tourism opportunities and the novelties Bulgaria offers during a press conference.

At the same time State Tourism Agency head Mario al-Djebouri will discuss the difficulties and opportunities related to the start of the new summer season. Al-Djebouri met in Bourgas representatives of the regional hotel and restaurant association.

One of the main problems is the lack of qualified employees for the newly opened hotels. The number of new hotels, which started functioning in 2004 is 185 and in 2005, 98.

BULGARIA’S WINE TOURISM TO ATTRACT NEW INVESTMENT

2006-04-13T13:41:00.000+03:00

Wine tourism in the southern and central part of Bulgaria is expected to attract 400 million euro investment.

Funds would be attracted through the development of a wine production and agriculture tourism cluster network, Darik radio reported.

Nearly 100 companies will enter the cluster organisation.

This network covers the territory of nine municipalities and aims at the development of wine and spa tourism there. An initial measure that needs to be implemented is the development of road infrastructure.

Proper road network has to facilitate access sites along the ancient road of the Thracian wine. These sites include the road of Dionysius from the southern part of Plovdiv to Perpericon and the road of Orpheus leading from Plovdiv to Kavala.

Bulgarian wine tourism can successfully develop as a bottle of Bulgarian wine sells on European markets for an average price of one euro. For a degustations in a Bulgarian wine hotel foreign tourists pay on the average 10 euro.

Tourism board initiated in Bulgaria

2006-04-11T11:03:00.000+03:00

Tourist sector companies and associations have initiated the creation of what they will call a National Tourism Board.

The constituent forum for the organisation would be held in Sofia on May 3, the initiative committee for the establishment of the board said on March 31.

The decision to initiate the board had been made at a working meeting, and was based on the need to have a representative association of the Bulgarian tourist industry uniting the largest investors, non-governmental organisations and businesses from accompanying sectors that provide for tourism.

The idea was first raised in January this year by the Bulgarian Convention and Visitors Bureau (BCVB), the Bulgarian Association of Hoteliers and Restaurateurs (BAHR) and the National Association for Spa Tourism (NAST).

Members of the initiative committee include Krassimir Stanev, executive director of Albena AD (the company operating the infrastructure of the Black Sea resort by the same name); Borislav Dionisiev, owner of Best Tour; Mladen Mutafchiiski, owner of Selena Holding; Petya Slavova, head of Festa Holding; Yordan Radev, executive director of the International Fair - Plovdiv; Valentin Yossifov, manager of TUI Bulgaria; Kamen Kichev, regional manager of Austrian Airlines; and other industry representatives.

BCVB head Poli Karastoyanova, BAHR head Blagoi Ragin and NAST head Stanimir Stankov are also on the committee.

“The future National Tourism Board will formulate and seek solutions to essential problems related to regional development, infrastructure, beach and airport concessions, promoting new tourist products, developing new markets, building a network of Bulgarian tourist offices abroad under public-private partnership schemes, and a bigger budget for advertising Bulgarian tourism abroad,” the initiators said.

Bulgaria is becoming an important spot on the map of the world tourism and this was proven on March 29, when it was announced that American Society of Travel Agents (ASTA) executive committee member Frederic Bursch would lobby for Bulgaria to host ASTA’s annual meeting in 2008 or 2009.

In Bursch’s words, this country has a chance to win the hosting, which would not only boost its image but will also bring financial benefit.

Bursch said he would lobby before his colleagues on the executive committee and will share his impressions from Bulgaria. The decision of the choice of the host country will probably be made in August or September this year.

Bulgaria was an unfamiliar destination and hosting such a forum would attract tourists not only from America, Bursch said.

Maybe not popular in America, Bulgaria continues to be popular in Europe, as the most recent information from the leading European tour operator TUI shows.

The company plans to bring more than 79 000 UK vacationers to Bulgaria this year, twice as many as in 2005.

TUI expects a five per cent drop in the number of German tourists. The firm brought 116 550 German tourists to Bulgaria’s resorts last year.

“Unlike Germany’s tourist market, UK and Scandinavian tourist markets are showing a continuous positive growth trend. Bulgaria is still a new and interesting destination and it a offers competitive price-quality ratio,” TUI Bulgaria’s Yossifov said.

On the other hand, one in every four Germans could not afford a vacation this year, according to a recent survey by German pollster EMNID, he said.

TUI plans to draw in 11.3 per cent more Scandinavian tourists to Bulgaria this year over the 91 248 in 2005.

Yossifov said he expected the number of foreign tourists visiting Bulgaria in 2006 to increase by about five percent from 4.84 million in 2005.

However, he warned that a planned increase of Value Added Tax for tourist services to 20 per cent from the current seven per cent could raise prices by at least 10 per cent and scare off holidaymakers.

He said the higher prices made Bulgaria less competitive compared to similar destinations like Egypt, Tunisia and Turkey.

TUI holds 29.5 per cent of the tourist market in Germany, 32 per cent of the Scandinavian tourist market and 10 per cent of the UK tourist market, Yossifov said.

Ivan Vatahov