Atlanta-Bulgaria Business Group Is Being Sought

Chavdar Radev, an Atlanta engineer from Bulgaria, is interested in spearheading an Atlanta-Bulgaria business association, he announced at a Bulgarian symposium at Georgia Institute of Technology on April 6-7. He invites anyone interested in joining the association to call him.  

Mr. Radev, who is a member of the Bulgarian-American Business Chamber in Washington, D.C., told GlobalFax that he would rely on the experience and networks of the national organization to raise awareness of business opportunities in both countries.

A growing number of Bulgarians in the Southeast U.S. and in Atlanta (he estimates up to 3,000) as well as great business opportunities in the former communist country should provide enough interest in creating a local network, he said.

“The country has had many problems, but for the last two years the economy has been growing and I think the opportunities with Bulgaria lie in its potential for further growth,” said Mr. Radev.

He added that the Southeastern European country should be attractive to U.S. firms with its low labor costs, well-educated work force and its reputation as a top tourist destination for European travelers.

The Black Sea coast and snow skiing make Bulgaria the most popular resort area in Eastern Europe for upper-middle class European tourists, he said.

Economic stability in Bulgaria was achieved by the introduction of a currency board put in place three years ago, according to Jeffrey Miller, an economics professor at the University of Delaware who came to Atlanta for the symposium.

In response to a devastating financial crisis in 1996-97, the government wrote into law a fixed exchange rate with the German mark. Inflation has decreased from 400% in 1997 to 1% last year.

This progress and a steady rise in gross national product should encourage foreign investment, said Dr. Miller, who has personally invested in the Bulgaria Stock Exchange-Sofia. However, he said, Bulgaria remains greatly undiscovered by U.S. companies.

Call Mr. Radev at (770) 734-6215, or send an e-mail to cradev@aol.com.