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NEWSLETTER
September 2009

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Formula 1 - Bulgaria

The Bulgarian Motorcycle Federation has received the preliminary contract for hosting a Formula One Grand Prix in 2011 or 2012. The chairman of the Bulgarian Grand Prix committee announced that a new track will be built near the capital Sofia for this Formula 1 race.

Tourism Funding


Bulgaria’s State Tourism Agency (STA) has announced that millions of Leva have been earmarked for tourism development between now and 2013. The marketing strategies are planned for both national and international audiences. In 2010 advertising campaigns are due to be launched in Germany, the UK and Russia. Within Bulgaria there will be a large TV campaign launched next year. Money will also be allocated to the development of an official tourism website.



Welcome to our September 2009 newsletter.


Chamkoria Chalets - Construction Update

All the chalets in the complex are now complete so it is a very exciting time for all our chalet owners and for the teams who have worked on the project. The chalets are looking really well and will look even better when the furniture is installed over the next few weeks.

Work is continuing on the apartments but they are not far behind in terms of finishing. Many of the large tasks have been completed in the apartment building at this stage including the plastering, tiling of all the bathrooms, and installation of the fireplaces. Painting has already started and the laying of the laminate will start shortly. The common hallways are being tiled now and should be completed on all levels of the building next week. The apartment balconies are almost finished as is the exterior stone work on this building.

Work has begun on the grounds of the complex. The low supporting walls are being constructed at the moment, which will create the levels for the pathways and garden areas.

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


World Rally Championship in Borovets

The WRC commission made a decision this month that Bulgaria will host a stage of the World Rally Championship next year. The WRC president, Morrie Chandler, decided that Rally Bulgaria met the required standard, and would have a place in next year's 13-round calendar. The event will be Borovets based so it will be an exciting time for the resort.

Although the event in Bulgaria is now confirmed, the exact date of Rally Bulgaria is yet to be finalised. Currently it is scheduled to finish on 11 July, but a move one week earlier or later seems likely to prevent a clash with the FIFA World Cup Final which takes place on the same day.


Bulgaria To Seek Eurozone Entry

The finance minister, Simeon Djankov, has stated that joining the Eurozone is a top priority of the Bulgarian government. The government intends to apply to join the exchange-rate mechanism in November, to carry out the European Union's two-year currency stability test before the country can drop the Lev and adopt the Euro.

Joining the exchange-rate mechanism would bring Bulgaria closer to the umbrella of the Euro region and the protection of the European Central Bank.

The Lev is already linked to the Euro in a currency board that keeps the Bulgarian currency at 1.95583 to the Euro. Joining the exchange-rate mechanism may cause some small fluctuations with the Lev but the central bank has said it will leave the Lev tightly pegged to the Euro through the duration of the two years.


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

 

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