BULGARIA,
a land at the crossroads
LATEST REPORT
April 29th, 2002




 Bulgaria
The Gateway to Eastern Europe

The Gateway to Eastern Europe - Breaking the chains of the past -
Building the foundations
- Privatization speeding up - In search of the old fame -
Infrastructure investments
- Tourism - Telecommunications - Entering European markets -
Fruits of private initiative - International recognition - Future looks bright


Bulgaria - the Gateway to Eastern Europe

Presidents P.Stoyanov and W. Clinton

For long years Bulgaria was called "The Rose Valley of Europe". Situated in the heart of the Balkan peninsula in Eastern Europe, Bulgaria enjoys not only specific mild climate, which is wonderful for vegetation, but blessed geographical position at the crossroads between Europe and Asia.

Browsing through the Bulgarian history one can see many ups and downs - long and rich history (lasting for more than 13 centuries ago), significant contribution to cultural development of Europe in the Early and Middle ages, remarkable development of agriculture, craftsmanship and trade, an Ottoman province for five centuries, several wars and 45 years as the closest ally of Soviet Union
As a traditionally agrarian country Bulgaria was forced to become an industry-oriented economy during the years of communist ruling. But it does not matter which sector one would choose for closer investigation at that time - nowhere was private initiative allowed, competition was forgotten, bad-quality production had a guaranteed market with other Comecom countries (which in their turn sold their bad-quality production on the Bulgarian market).

All those years of central-planned economy developed a special feeling of security for the Bulgarians. They knew they could buy Coca Cola very rarely (it could be found in limited quantities) and would never travel to the "capitalist USA" but at the same time they enjoyed guaranteed employment (although underpaid), low commodity prices (although shortages were common) and a State (the Communist party) that was responsible for everything and took care of everybody. In those conditions spirit of innovation and ability to fight for your own survival almost disappeared.



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© World INvestment NEws, 1998.
This is the electronic edition of the special country report on Bulgaria published in FORBES Magazine's
November 30th issue.
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