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Concept Bulgaria NEWSLETTER
November 2008

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Christmas Lights

Decorations are up and the Christmas lights have been switched on in Borovets. Log fires are burning, tree branches are covered with snow and the resort feels very festive!

Christmas Lights


Rila Highway Project

One of Bulgaria's biggest construction companies, is gearing up to build the Rila motorway, which will provide speedy access from Sofia to Borovets and link it to the Struma, Trakia and Hemus highways. The project is estimated to cost around EUR 500 million. Currently they are preparing a geological report, an environmental impact assessment report, and traffic analysis for this route, and are awaiting final approval from the National Road Infrastructure Agency. Once the project commences it is expected to take about 3 years to complete.



Restaurant Review

Venice restaurant, situated at the bottom of the Rila slopes in front of the Rila Hotel, serves good quality traditional Bulgarian and international cuisine. It is open all year round and always has a regular flow of customers. One of their most famous and popular dishes is pork cheverme with garlic potatoes, which is succulent pork that has been slowly roasted on a pit. It's very tasty and you certainly won't be hungry for a long time after it!

Venice Restaurant

Welcome to our November 2008 newsletter

Eastern Europe Offers The Best Ski Deals

A recent article issued by the Daily Telegraph reported that skiers should take off to the slopes of Eastern Europe to find the best winter deals. Fourteen resorts were surveyed and the Bulgarian resort of Borovets ranked the 3rd best value for money destination. The average cost of a weeks ski holiday in Borovets including ski hire, accommodation, meals and drinks, is about 285 Euro. Poiana Brasov in Romania got 1st place and High Tatras in Slovakia got 2nd place as best value for money. On the other end of the scale the American ski resort of Vail proved to be the most expensive. Ski resorts in Eastern Europe are an excellent choice for beginners and families on a budget.

Skiing Road to Chamkoria Chalets

Chamkoria Chalets - Construction Update

The complex is really starting to take shape now. Several chalets have their roofs completed and the roof on the apartment building will be finished soon. The brick work on the internal and external walls is continuing at pace. The first phase of electrical and plumbing work has started and is due to be completed in the coming weeks. You can look at the latest update and photos here.

Chamkoria Chalets

Bulgarian Bank System

The Bulgarian bank system has the best capitalization in the European Union (EU), according Ivan Iskrov, manager of the Bulgarian National Bank (BNB). Iskrov made the statement early November before members of the Greek Business Council during a discussion about the effects of the global financial crisis in Bulgaria. According to data from BNB, the credit institutions operating in Bulgaria, have registered profits of BGN 1.1 B, which is 30% more compared to the same period of 2007. It is projected that the profits would reach a total of BGN 1.5 B by the end of 2008. Iskrov added that there was no need to re-capitalize banks in Bulgaria, unlike what is happening in Western Europe. The problems created by the global financial crisis are not affecting the banking system in the country, but there is however an impact on some businesses.  The BNB manager explained that he was confident Bulgaria was going to overcome these issues and would not face the problems being experienced in Western Europe.

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