Georgi Ivanov Naydenov ( bg, Георги Иванов Найденов) (born July 19, 1927 – October 3, 1998) was a Bulgarian businessman and banker who was born in the small town of

Strelcha Strelcha ( bg, Стрелча ) is a small Bulgarian town with a population of 4,284 . The town lies 13 km to the east of Panagyurishte and 41 km to the north of Pazardzhik. It is a capital of homonymous municipality, part of Pazardzhik ...

, and became famous during the 1960s as the creator of the unique and successful economic experiment Texim.

The Economic Group

The idea of Texim as an independent organization within the Bulgarian

socialist economy Socialist economics comprises the economic theories, practices and norms of hypothetical and existing socialist economic systems. A socialist economic system is characterized by social ownership and operation of the means of production that may t ...

originated with a starting capital of 10,000 Leva (1 Dollar at that time was equal to around 1.17 Leva). Yet, although Texim existed for only 8 years from 1962 to 1969, its legendary success has accompanied the name until this day. Eventually, the experiment expanded to comprise three main units: Texim, the Imextracom Establishment, and the Bulgarian Trading Fleet. The Bulgarian Merchant Fleet included trade,

shipbuilding Shipbuilding is the construction of ships and other floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to befor ...

, and docks, while Texim included the first

Coca-Cola Coca-Cola, or Coke, is a carbonated soft drink manufactured by the Coca-Cola Company. Originally marketed as a temperance drink and intended as a patent medicine, it was invented in the late 19th century by John Stith Pemberton in Atlanta ...

establishments in the entire

communist bloc The Eastern Bloc, also known as the Communist Bloc and the Soviet Bloc, was the group of socialist states of Central and Eastern Europe, East Asia, Southeast Asia, Africa, and Latin America under the influence of the Soviet Union that existed du ...

. After the fall of communism, Naydenov created, the now oldest private bank in Bulgaria, Teximbank, in September 1992, which exists to this day.

Sources

*The Texim Affair, Dobromir Zadgorski, Sofia: 1994
Information about Bulgaria
*http://www.kampanyarchivum.hu/files/300/8/3/7-2-27.html

*http://www.bgbook.dir.bg/book.php?ID=7290

External links

Teximbank
{{DEFAULTSORT:Naydenov, Georgi 1927 births 1998 deaths 20th-century Bulgarian businesspeople People from Strelcha