The acute shortage of qualified labour, a problem that has been the focus of public debate, has manifested in yet another expert statement and in yet another large-scale project. In an April 29 video conference, the vice-president of Atomstroyexport, the Russian nuclear conglomerate picked to build Bulgaria’s second largest plant at Belene, said the company would have to import thousands of Russian experts. read more

Only two companies filed the paperwork required to take part in the open bid auction for the sale of 251 400 shares or the whole Bobov Dol thermal power plant before the deadline on April 25. The two bidders are Consortium Energia MK AD and Minna Kompania EOOD, Bulgarian Privatisation Agency (PA) said on April 29. Both companies are linked to one person, local businessman Hristo Kovachki. read more

In the middle of April, the Bulgarian media reported the emergence of a new social security policy idea. The idea, authored by the lead partner in the country’s tripartite coalition, the Bulgarian Socialist Party (BSP), foresees a change in the formula for calculating pensions. Under the existing Social Security Code (SSC), the size of new pensions is calculated according to a formula that binds length of service, during which social security contributions were paid, and the size of average social security income to the individual social security income in the country. read more

Last year was a spectacular year for the Bulgarian mutual fund industry. Both the number of collective investment schemes (CIS) and assets under management of mutual funds grew substantially. As of end-2007, the total number of mutual funds managed by Bulgarian asset management companies amounted to 58, whereas net assets under management was about 863 million leva (compared to 45 funds and 315 million leva in assets under management at the end of 2006). read more

With the summer season coming and the arrival of the first tourists at Bulgaria’s Black Sea resorts, the issue of the management of the beaches along the coast has resurfaced. According to the Bulgarian constitution, the beaches along the coast are exclusively state property. However, the state - more specifically, the Regional Development and Public Works Ministry, gives the management of the beaches to concessionaires, who must provide cleaning and lifeguard services. read more

A Bulgarian-language media report said that investment fund Equest Balkan Properties plc had hinted at its intention to sell City Center Sofia. Equest bought City Center Sofia for 94 million euro in March 2006, just two months before the mall’s official opening. Investor.bg, reporting the possible sale, claimed that the information had come from Equest Partners Limited’s investor relations officer Naomi Kora. The centre has a 44 000 sq m built-up area, 24 000 sq m of which is retail space. It has four floors and two underground levels, which have underground parking for about 500 vehicles, a hypermarket, two levels of shops, an entertainment centre with a six-screen cineplex and a total of 1500 seats, and a number of fast food outlets, restaurants, bars and coffee shops. read more