About Us

Bulgaria’s first higher education school of commerce, the future University of Economics – Varna, was founded as a result of the ever growing need for training in economics, triggered by the industrial and cultural boom of the 1900s. Varna had already been recognised as a major commercial hub in Bulgaria at the turn of the century when in 1911 the Varna Chamber of Commerce and Industry managers began discussing the establishment of such a school, with the actual decision taken at the Chamber’s 21st session in 1914. Though funding had been allocated, the establishment of the future university was delayed by the outbreak of the First World War.

The university building in the 1920s

Following a decision taken at the Chamber’s 25th session, this university opened on 14 May 1920, ushering in Bulgaria’s higher economic education. On 28 Sep 1920, the launch of Bulgaria’s first Higher School of Commerce was formally authorised by the Minister of Commerce, Industry and Labour, thus effectively creating the second Bulgarian university. Sofia University, established earlier, did not provide any training in economics.

The university management was entrusted to a Supreme School Council. In the autumn of 1921, classes were inaugurated with the blessing of Simeon, the Bishop of Varna, and with an address by King Boris III, who attended the ceremony in person along with members of the Chamber, bankers, traders and captains of the industry.