In 1994 Nikolay Vassilev graduated from the Institute for Economic Sciences, Budapest, Hungary, specialty “Economics”. In 1995 he graduated from from the University of New York, specialty „Business Administration” and „Finance and Economics”. From 1996 to 1997 he specialized “Taxation and Finance” at Keyo University, Japan. In 1997 he earned a master degree in International Economics and Finance at the University Brendays, USA. Afterwards he took advisory positions in different large international companies and institutions. In 2001 he was Deputy Prime Minister and Minister of Economy of Republic of Bulgaria. From 2003 to 2005 he has been Deputy Prime Minister and Minister of Transport and Communications; In August 2005 he became Minister of State Administration and Administrative Reform.