Prime Minister Simeon Saxe-Coburg handed the prestigious World Young Business Achiever (WYBA) awards at a ceremony, which took place at the Sofia Hilton on November 23.

The awards are handed to young business people who have demonstrated successful entrepreneurial spirit and dedicated themselves to proving the social role of business, the founder of the awards Robin Dunseath told the Echo in an interview over a month ago.

The programme of WYBA has two phases. The first is at national level, where each country organises a competition among its young successful entrepreneurs. The second phase, at international level, where the best candidate is chosen for the WYBA award.

Ismail Kavuncu of Turkey and Paddy Dunning from Ireland both got the World Young Business Achiever Award. Kavuncu, who heads a corporation dealing with food products, cosmetics, telecommunications and tourism, was also awarded for Excellence in International Operation. Dunning, owner of a sound recording studio, also got the Award of Excellence in Entrepreneurial Management.

Bulgarian Ivan Georgiev Gyokov, who works for a medical software development company, received the Award of Excellence in Corporate Social Responsibility.

The other winners were Jin Song Yang from China (Award of Excellence in Communication Skills), Keith Neilson from the UK (Award of Excellence in Business Strategy) and Carrie Shapiro from the UK (Award of Excellence in Business Innovation and Creativity).

The jury, headed by Saxe-Coburg's adviser Bill Drysdale also handed two special prizes: for Social Responsibility to Ercan Tutal (Turkey), who manages a non-governmental organisation supporting disadvantaged people, and for Protection of the Environment to Elizabeth Scambler of a British company manufacturing baby diapers.

In its economic policy, the Government prioritises on encouraging small- and medium-sized businesses, which are the engine behind any sustainable development, Saxe-Coburg said addressing the participants in the ceremony. We are obliged to give a chance to young people from all strata of society to complete their education and become entrepreneurs, he said. According to Saxe-Coburg, entrepreneurial activities are a tool in dealing with migration.

Most of the economic activity in Bulgaria is currently, concentrated in the private sector and a significant part of the gross domestic product is formed by enterprises formed in the past 10 years that employ less than 50 people. Ninety-nine per cent of all firms in Bulgaria are of small and medium size, Saxe-Coburg said.

He had been chosen to be the patron of this year's award ceremony because of his contribution to improving the business climate in Bulgaria. Saxe-Coburg is the first state official to encourage the participation of young people in politics and in entrepreneurship, the Government's press office said later in a statement.

The first WYBA award in 1993 was handed by Prince Philip. Other patrons of the prestigious awarding ceremonies were the prime ministers of Canada Jean Chretien and John Major of the UK, as well as the president of the Philippines Gloria Arroyo.