What does it take to transition from a career in finance and executive positions in banking and leasing groups to a complete shift in professional focus toward the construction sector? How do financial markets evolve, and what is the relationship between private business and Bulgaria’s economic development?

These topics were addressed by Emil Angelov, Chief Executive Officer of Glavbolgarstroy Holding, who served as a guest lecturer at the University of National and World Economy (UNWE) at the invitation of the Faculty of International Economics and Politics. He was introduced to the audience by Assoc. Prof. Dr. Svetla Boneva, Dean of the Faculty, who highlighted the company’s achievements and its significant contribution to regional economic development. On behalf of the rector, Prof. Dr. Dimitar Dimitrov, students were welcomed by Prof. Dr. Matilda Aleksandrova, Vice-Rector for Academic Affairs, who emphasized that such meetings offer future economists a unique opportunity to engage with real-world business experience. Prof. Aleksandrova noted that Glavbolgarstroy has become a case study in university textbooks as an example of best practice.

During his lecture, titled “From Financial Markets to the Real Economy: How Capital Becomes Infrastructure”, Angelov shared his professional journey, which began at UNWE in 1987, and discussed his perspectives on the development of Bulgaria’s economy, financial markets, and infrastructure projects. He also reflected on the evolution of the banking sector in Europe and the qualities of effective team leadership today.

“A good leader must inspire, lead by example, and recognize that the people in their team are often the best experts in their respective fields,” Angelov told the students.

He also presented the history and development of Glavbolgarstroy, highlighting the company’s work on various landmark public projects over the years. According to him, the construction sector offers a highly dynamic environment, and financial expertise provides a significant advantage in managing both investments and personnel.

Among the projects Glavbolgarstroy plans to complete in 2026 are A1 Motor Park near Samokov, the only motorsport circuit in Bulgaria certified by the FIA and FIM, Bulgarian Army Stadium, which will meet UEFA Category 4 infrastructure requirements and the strategic energy project Vertical Gas Corridor, a seven-country initiative in which Bulgaria was the first to begin construction on two sections: Kula-Kresna and Rupcha-Vetrino.

In his analysis of Bulgaria’s economic environment, Angelov highlighted that insufficient infrastructure connectivity remains a serious barrier to the country’s competitiveness. He emphasized that the future of major infrastructure projects lies in public-private partnerships and concessions. Regarding the energy sector, he noted that renewable energy sources cannot fully replace baseload capacity such as nuclear or gas without significant investment.

Prior to the open lecture, Angelov met with Prof. Dr. Dimitar Dimitrov, Rector of UNWE. Their discussion focused on the role of business in national economic development and opportunities for collaboration between the university and leading Bulgarian companies.