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NEWSLETTER
July 2009

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 Formula 1 in  Bulgaria

Earlier this month Formula 1 boss, Bernie Ecclestone, met with a delegation from Bulgaria regarding the possibility of adding the country to the Formula 1 calendar. Bulgaria could sign a contract to host a race between 2011 and 2015, including the option of an extension to 2020. Representatives of the Bulgarian race organising committee were formally invited to the German Grand Prix on July 12 to meet with Ecclestone.





Sofia-Eindhoven Flights

The low cost airline Wizz Air has announced a new service from the Netherlands to Bulgaria. The route from Eindhoven to Sofia will commence on 25th October and will operate twice weekly.

Welcome to our July 2009 newsletter.


Chamkoria Chalets - Construction Update

The plastering work was a large task which has taken place over several weeks. We have made good progress with it and the majority of properties now have this completed. The final concrete floors are being poured in the apartments at the moment and will be drying out over the next couple of weeks.

The tiling work for the bathrooms is underway and all three choices of bathroom tiles can now be seen. The white bathroom suites will be delivered shortly and we will start installing them.

All the fireplaces in the chalets are finished and you can see the lovely stonework on the chimney.

You can check our website to see the latest photos on our construction updates.


Bulgaria’s General Elections

The right-wing opposition party GERB, of Sofia Mayor, Boyko Borisov, has triumphed over the Bulgarian Socialist Party (BSP), of Prime Minister Sergey Stanishev, in Bulgaria's Parliamentary Elections which were held on Sunday, July 5. These were Bulgaria's first general elections after the country's accession to the European Union and are said to be crucial with regard to Brussels' trust and the future of the economy.

According to the exit poll the GERB party won 38.5% of the votes followed by the BSP with 18.4%. GERB, which stands for Citizens for the European Development of Bulgaria, won 116 of the 240 seats in Parliament, just short of a majority. This landslide victory over the ruling Socialists was to be expected.

The Bulgarian Socialist Party (BSP) managed to gain membership into the European Union in 2007 for Bulgaria, but has been harshly criticized both at home and abroad for its failure to reform corruption and organized crime. During the ruling of the Socialists Brussels has suspended or scrapped millions of Euros in aid planned for infrastructure and agriculture.

The new ruling party, GERB, is expected to bring in Western-educated economists and reformists to fulfill a pledge to help the economy and fight against corruption. Bulgaria’s new cabinet was announced on July 23rd. The election of GERB has been welcomed by the EU as the party is seen as very pro-Europe and is committed to working to release additional EU finds to Bulgaria. Overall this is expected to be very positive for the country as the EU funds with be invested in improving the local infrastructure and boasting investment and tourism.

One month ago GERB also won most of the votes in European Parliament elections, again defeating the Socialists.


Lyulin Motorway

The European Commission has made a decision to release funds of EUR 1.25B for the improvement of Bulgaria’s roads, following a block placed on the funds last year. The EC had blocked the money in June 2008 over fraud at the National Road Infrastructure Fund (NRIF). Bulgaria had to undertake several measures in order to regain access to these funds, including reorganizing the Road Fund, adopting the Conflict of Interest Act, and changing the Public Tenders Act and the Road Act.

As a result work on the Lyulin Motorway project was to recommence last month. The 19km Lyulin Motorway will connect Sofia to Pernik in South West Bulgaria, designed to remove a bottleneck on a major European transport corridor.


And finally...

If you have missed our previous newsletters and would like to see them, you can view them on our website.


Warm Regards.

Concept Bulgaria OOD

 

www.conceptbulgaria.com