We take care of our every ship and our every customer
China subsidized the development of its shipbuilding industry to become number one, while the EU lagged behind due to imposed restrictions on the use of European programs and state aid
Svetlin Stoyanov, Executive Director of MTG Dolphin and Mr Economy 2024:

© ECONOMIC.BG / Borislav Danchov for Economy magazine
Mr. Stoyanov, what’s the significance of "The Fisherman and the Goldfish" statuette and what value does this award hold for you?
The statuette has its symbolic weight, and we are happy to be honored by Economy magazine and the Board of Directors of KRIB. This is recognition for our entire team, which has succeeded in being the first to do certain things in Bulgaria. I am not receiving the award as my own individual distinction. In 33 years, starting from the bare ground, we managed to build the most modern shipbuilding plant in Bulgaria, comparable to the best in Western Europe. My father started it all in 1991 and I represent the second generation – as I joined in 1997.
How did you develop this love for shipbuilding?
I was training to be a ship captain, but then I became a shipyard captain. Shipbuilding is a very complex industry that rivals aircraft construction. Every ship is an autonomous city that produces its own energy and water, and processes its own waste so as not to harm the environment. People live on it, it has to carry passengers and cargo, and it can also support defense capabilities. The ship is a complex engineering facility.
How did MTG Dolphin reach this high level?
Shipbuilding and ship repair have traditions in Bulgaria. The Varna and Ruse shipyards have memorable legacies. We strive to be equal to the best in the world, and if there is anything to make production easier, more efficient, more practical and resource-saving, we introduce it in the form of automation, new technologies and systems. At the moment, more than 560 people work for us on a permanent basis. 33 years ago, we started with ship repairs, and 18 years ago we built our first ship. Now we have a whole portfolio. The most complex ships are the ones that we build in cooperation with NVL for the Bulgarian Navy.
What difficulties do you go through while building a ship?
There are many regulations that must be strictly followed. There are rules for strength, military ships have even higher requirements than those for civilian purposes. The requirements are many. However, the most important thing when building a ship is the people. It is made by people for people. The heart of every ship is the people. We care about each of our customers and each of our ships.
How strong is your competition?
We are in Europe. And in the last 30 years, the Old Continent has lost its superiority in shipbuilding. For example, the construction of container ships and tankers is now a thing of the past. We have allowed China to seize the dominant role. Only 15 years ago, that country announced that it would become number one in the world in shipbuilding and it has already achieved it in the field of standard ships. The Chinese are now looking at more complex models. China subsidized the development of this industry, while the EU imposed restrictions on the use of European programs and state aid. About 80% of the world's transport is carried out by sea. Shipbuilding and ship repair is a strategic sector, and we should not depend on anyone else. Europe also lost the “pricing war", as ships produced on the Old Continent are about 50% more expensive than Chinese ones.
What’s one wish that you would ask the Goldfish to grant you?
It’s no joke that we finally need to have a stable government here. In the last 4 years, we all got tired of this governance void. Business is developing in a good way, but there is a lack of strategic thinking and action at the state level. And one more thing - I would like people in Bulgaria to finally believe in themselves and start appreciating what is being done in our country. We have serious achievements and if we change the attitude, we will be unrivalled in our development.