Bulgaria starts playing golf
March 11th, 2008By News.Bg
Bulgaria will be a sole-owner in the new company „Golf-development“. This became obvious after a conference of the Council of Ministers.
The Government decided to set up a Single Person Joint Stock Company with 100% State participation in the capital. It will be involved in designing, construction, exploitation and management of golf complexes. They will include golf courses, service buildings and equipment, settlements, etc.
The capital of the company will be 9 183 000 Bulgarian levs, allocated into 9 183 nominal shares of 1 000 levs each. 12 estates, which are private-state properties, will be included in the capital of the company as an un-monetary installment. Their value is 9 133 000 levs.
The monetary installment of 50 000 levs will be secured by restructuring the costs of this year’s Ministry of Regional Development and Public Works’s budget.
Bulgaria is aiming to become a competitive golf destination, attractive for the solvent tourists. As an alternative to the over construction and the high-floor building in the Black Sea holiday resorts, the construction of golf courses will be stimulated. Thus, conditions for extending the tourist season will be created - 9 months on the Black Sea coast and year-round in the mountain complexes, having available ski-golf destinations, as there are in Austria and Switzerland.
The golf tourism is one of the most profitable ones all over the world and combined with the friendly climate and the natural sites, Bulgaria could be a preferred destination on the Balkans.
The company will be managed by a three-member Board of Managers, whose mandate will be three years.
