BULGARIA

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BULGARIA
A country of marvellous nature and wonderful
scenery
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BULGARIA
A great tourist destination with various
attractions
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BULGARIA
A country of old traditions and national treasures
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BULGARIA
A country of impressive cultural heritage and
historic monuments
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COUNTRY OVERVIEW

• Founded 681 A.D.
• Location Situated in the south-east part of
  Europe, in the eastern part of the Balkan
  Peninsula
• Boundaries Northern boundary with Romania,
  western with Serbia, south-western with
  Macedonia, south-eastern with Turkey. Eastern
  boundary with the Black Sea
• Territory 111 000 sq. km.
• Population 7 801 273 (census taken in 2003)
• Capital city Sofia (1 208 930 inhabitants)
• Larger cities Varna (458 661 inhabitants),
  Plovdiv (710 958 inhabitants), Burgas (419 925
  inhabitants), Stara Zagora (364 051 inhabitants),
  Ruse (261 108 inhabitants), Pleven (315 230
  inhabitants)
• Monetary unit Bulgarian Lev (BGN)(1 BGN
  1.95583 EURO)
• Official language Bulgarian
• Religion Eastern Orthodox Christianity

Bulgaria is generously gifted with natural
landmarks and a diversity of landscape, rich
variety of flora and fauna, abundance of curative
mineral springs, ancient cultural and historical
sites, hospitable sea resorts, perfect
opportunities for skiing, breath-taking natural
phenomena...
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INTERNATIONAL ORGANIZATIONS AND AGREEMENTS

• Bulgaria will join the European Union on January
  1st, 2007
• 25th April 2005 - signing of Bulgaria's EU
  Accession Treaty
• NATO member as of 29th March 2004
• Member of the Council of Europe since 7th May
  1992
• Full member of the Central European Free Trade
  Agreement (CEFTA) since July 1998
• Member of the World Health Organization since 9th
  June 1948
• Member of the World Trade Organization since 1996
• Member of IMF / World Bank since 1990

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ECONOMIC INDICATORS
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EXPORT BY COMMODITYJan-Oct 2004Total EUR 6.5 bn
ECONOMIC INDICATORS
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ECONOMIC INDICATORS
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MAIN INDUSTRIES
AGRICULTURAL PRODUCTS

• Vegetables, fruits, tobacco
• Livestock
• Wine
• Wheat, barley, sunflowers, sugar beets

• Electricity, gas and water
• Food, tobacco
• Machinery and equipment, metals
• Chemical products, refined petroleum
• Nuclear fuel

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THE VARNA REGION
Bulgaria is divided into 6 planning regions.
Varna is the centre of the North-Eastern Planning
Region, which includes also the districts
Dobrich, Shumen, Silistra, Targovishte and
Razgrad.
Bulgaria is also sub-divided into 28 regions
which are further divided into Municipalities,
the basic local administrative unit in
Bulgaria. Each Municipality is autonomous with
its own budget and property. Varna Region
consists of 12 municipalities.
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Varna is Bulgaria's third largest city. It was an
inhabited place even before the Greeks
established the colony of Odessos there about 580
B.C. Later, under the Romans and their
successors, the Slavs, Varna became a major port
trading with Constantinople, Venice and
Dubrovnik. The name of the town (Odessos - a
settlement on water) is not Greek but of an
earlier linguistic origin, which suggests the
presence of an older village on the same
territory.
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Successor to ancient civilisations, survivor of
the transformations of time, the present-day city
of Varna is one of the most attractive Bulgarian
towns, the Pearl of the Bulgarian Black Sea
Coast.
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VARNA
The city of Varna with population 458 661, is
situated on the Bay of Varna, 470 km east of
Sofia. Varna is the biggest city on the Bulgarian
Black Sea coast. Varnas length is over 11 km,
its width, including the new residential district
is nearly 9 km. The city stands in tiers and
follows the curves of the Bay of Varna.
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VARNA
Nowadays Varna is the main port for both naval
and commercial shipping and, as it is near the
coastal resorts of Golden Sands, St. Constantine
(Drouzhba) and Albena, it has a cosmopolitan
atmosphere, attracting many foreign tourists.
Varna has a modern appearance along with
dignified 19th and early 20th century buildings.
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VARNA
Within the city and in its surroundings there are
numerous gardens, vineyards and deciduous groves,
unique natural and archaeological reserves. The
territory is occupied with private country houses
and small farms.
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VARNA
Varnas strategic location on the northern cost
of the Black Sea, and its rich natural resources,
make the city one of the famous resort centres in
Europe and the biggest in the Black Sea region.
Varna is a cross-point between the Middle East
and Western Europe. The climate, the natural
conditions and developed infrastructure provide
perfect conditions for the development of
industry, trade, tourism and communications
within the district and the region. Varna is the
perfect place for investors who want to set their
business in Bulgaria.
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VARNA DISTRICT Economic development of the
Non-financial sector (2000 - 2003)
The Municipality of Varna plays a major and
ever-growing role in the economics of Varna
District. The growth of investments in the
Municipality exceeds the growth of investments in
the other municipalities of the District. The
economic development of Varna District has a
positive impact on employment, contributing to
its significant growth.
The role of the small and medium-sized
enterprises (SMEs) play a leading role in the
economics of Varna District, and generate more
than half of the employment opportunities and tax
revenues. This fact alone demonstrates the higher
effectiveness of SMEs, yet they also play a major
role in the following sub-sectors Trade, repairs
and technical services Agricultural, forest and
hunting industry Hotels and restaurants
Constructions Real estate operations.
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ECONOMIC INDICATORS OF SMEs
Number of enterprises in Varna Districtin the
period 2000-2003
Conclusion The major portion of enterprises in
Varna District - 99 fall into the category of
SMEs with up to 100 people personnel.
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ECONOMIC INDICATORS OF SMEs
Revenue from enterprises activities in Varna
Districtin the period 2000-2003
Conclusion There is a significant and growing
share of SMEs revenue with up to 100 people
personnel. The total revenue increase is
significant, showing an increase of investment
activity in the district.
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ECONOMIC INDICATORS OF SMEs
SMEs revenue share of specialized sub-sectors of
Varna Districtin the period 2000-2003
Conclusion The biggest income share of
specialized sub-sectors for 2003 have SMEs in the
following sub-sectors Real estate operations,
renting activities and business services - 93
Agricultural, hunting and forest industry - 85
share with an increase from 27 compared to 2000
Trade, repairs and technical services - 73 share
with an increase from 20 compared to 2000. The
biggest increase in the income share of the
sub-sector have SMEs in the following
sub-sectors Transport, storage and
communications - 106 with income share 14 for
2000 and 29 for 2003 Manufacturing industry -
45 with income share 19 for 2000 and 28 for
2003.
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ECONOMIC INDICATORS OF SMEs
Conclusions The vast majority of enterprises
in Varna District almost 99 percent, fall into
the category of SMEs with up to 100 people
personnel. The highest is the share of the
micro-enterprises these constitute 42 of all
SMEs, followed by the small enterprises - 36 of
all SMEs, and by the middle-sized enterprises
comprising 21 of all SMEs. SMEs with up to 100
people personnel generate the prevalent share of
revenues of all business entities (54 of all
revenues for 2003),and thus play a crucial role
in the economic development of Varna District.
The largest portion of SMEs revenues come from
the specialized sub-sector of trade, repairs and
technical services almost 68 of SMEs revenues
for 2003, 30 of which are micro-enterprises 22
are small enterprises and 16 are middle-sized
enterprises. With the biggest increase of incomes
by specialized sub-sectors for 2003 are SMEs in
the sub-sector Real estate operations, renting
activities and business services with 93 share
of the sub-sector.