Bulgaria News Briefs: Brain Drain Affects Economy

The IT brain drain is proving a serious danger for economic development in Bulgaria after recent announcements for "easy IT green cards" in Germany, Austria, the U.K. and the U.S., warned attendees of the second meeting of the First Tuesday venture capital community in Bulgaria. In the last seven years, 500,000 university graduates have left the country, from a total population of 8 million.

The Internet will not be under the monopoly of Bulgarian Telecom, the Chief Secretary of the Ministry of Telecommunication has declared.

SAP Bulgaria, in partnership with the local offices of Hewlett-Packard Co., IBM Corp. and Siemens AG organized the country's first mysap.com forum. In Bulgaria 13 organizations have SAP AG ERP (enterprise resource planning) installations, including Ideal Standard, Metro, Laufen, Coca-Cola Co., Alianz, Ministry of Finance and National Electric Co.

Bulgarian ISP (Internet service provider) Bol.bg became an IBM business partner. The deal focuses on WebSphere, VisualAge, Content Hosting Services and Payment Gateway, and on providing complex solutions to corporate clients.

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