Bulgaria

Bulgaria was admitted to the European Union (EU) in January 2007

Bulgaria is a country located in south east Europe, sharing its borders with Romania, Macedonia, Greece and Turkey. The country’s main airports are located at Sofia, Bourgas, Varna and Plovdiv. Bulgaria went through a period of transition in the 1980’s from a state-led economy to a market dominated one and it is now working to ensure that it meets the conditions for the next stage of entry into the European Union.

Like most of Europe, Bulgaria is built upon a rich history of success and struggles. Formally established in the late 7th century, the Balkan state experienced a brief "Golden Age", which saw a flourishing of the arts, and the creation of the Cyrillic alphabet. After about five centuries under the Ottoman Empire, Bulgaria finally gained independence in 1908, only to be annexed into the Soviet Union after World War II. Now, with Soviet rule in the past, and its new EU membership secured, Sofia is poised to embark on a journey of political and economic change.

The Bulgarian economy fell into rough times following the dissolution of the Soviet Union. Fortunately, economic reforms in 1997 managed to stifle inflationary pressures, and effectively smothered a three-digit inflation rate in about one year. Since then, the nation has registered vigorous GDP growth, hitting a record 5.8% in 2004. This was further augmented by efforts to curb unemployment and corruption, as well as to attract foreign investment. With a burgeoning IT workforce, and a newly minted government committed to raising living standards, Bulgaria is fast becoming the center of attention in the Balkans.

Lack of basic supplies....what is going on?

In January of 2008, we had some friends in Bulgaria (skiing).

"The mountains were wonderful,  and the town charming. The biggest downside is their chronic lack of basic supplies. We've only been able to find bread in the stores once and at  that it was hidden under the cash counter and the clerk would only sell it  to us if we bought something else!"

IT in Bulgaria

Bulgaria Among Countries with Most IT Specialists in the World

Sofia Echo (February 27, 2007)

http://www.sofiaecho.com/article/bulgaria-among-countries-with-most-it-specialists-in-the-world/id_20871/

Information Technology is a goldmine in Bulgaria. The southeastern European nation is ranked third and eighth respectively, in Europe and the world, for the number of IT specialists per capita. With 5,000 fresh graduates added to the pool annually, it seems Sofia is steadily making its way up the IT food chain.

Business in Bulgaria

Existing investors in the country include Arthur Andersen, First Investment Bank America, Honeywell, Daewoo, Ericsson, Glaxo Wellcome and IBM.

Investment Promotion Agency:

Mr George Tabakov

Bulgarian Foreign Investment Agency

3 Sveta Sofia Street

Sofia

1000

Bulgaria

tel: +359 2 980 09 18

fax: +359 2 980 13 20

Links

Bulgaria: Bulgaria Business Guide

http://www.sofiaecho.com/bulgaria-business-guide/p_78/

This site is a section of The Sofia Echo, a news agency in Bulgaria, and provides a guide to the business environment in Bulgaria; information is especially relevant to foreign businesspeople. The guide is divided into business climate, economic indicators, sectors, doing business in Bulgaria, and real estate. Some examples of the information provided are macroeconomic climate, inflation dynamics, and setting up a company.

Bulgaria: Expat in Bulgaria

http://www.expatinbulgaria.com/

This website offers resources for expatriates living in Bulgaria. Resources include a survival guide, with information about healthcare, language, education, driving, visas, and information on business, lifestyle, travel, and real estate. There is also a forum, so members may interact and share experiences and tips.