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%86,1(66%86,1(66 z z z z EVENTS ANALYSES INTERVIEWS Issue 1(172) CO%86,1(66 NNECT January-February 2017 $ආൾඋංർൺඇ&ඁൺආൻൾඋඈൿ&ඈආආൾඋർൾංඇ%ඎඅ඀ൺඋංൺ SINCE 1990 WITH ACCESS TO 100 COUNTRIES 21 000 LAWYERS 160 LAW FIRMS AT HOME WORLDWIDE COMMERCIAL & COMPANY LAW COMPETITION & ANTITRUST MERGERS & ACQUISITIONS ENERGY & RENEWABLES ADMINISTRATIVE LAW LITIGATION & ARBITRATION & PUBLIC PROCUREMENT BANKING & FINANCING LAW TAXATION & LABOR TRADEMARKS, PATENTS IT, MEDIA & TELECOMMUNICATIONS & LICENSING Legal: 500: Chambers Europe: Chambers Global: IFLR 1000: “Excellent, comprehensive “More western than others” “Innovative and practical, “They are the best and responsive services” “One of the best in Bulgaria” entirely client & business when it comes to advising investors, “Excellent – prompt, oriented” they know how the law works…” efficient and extremely knowledgeable of the local environment” e-mail: [email protected] ∙ www.penkov-markov.eu ∙ telephone: (+359 2) 971 3935 editor's notes 1 Labor Conundrum Labor market in Bulgaria resembles a riddle, overwhelmed with opposite-side arguments in a way that whatever you say, it may well be true. There is a high percentage of youth unemployment, but at the same time big portion of highly qualiÀ ed older professionals were kicked out of the market due to their retirement age. Moreover, the labor market is not prepared for the new challenge of older workers’ needs and the pension system is increasing the retirement age. Qualitative labor shortage versus being an overqualiÀ ed professional striving to À nd a decent job, are another two sides to the story. In trying to solve the conundrum and indicate possible solutions, Business Connect assembled a medley of opinions from diverse social groups: a former minister of labor and social policy, researchers, AmCham business leaders and leaders of professional associations in the IT, outsourcing and automobile industries. The new political and economic realities will need more diverse human and professional abilities and our magazine has started a discussion about that. The IT, healthcare, automotive parts industry, manufacturing and tourist sectors are experiencing serious difÀ culties in À nding qualiÀ ed workforce. Companies train their own staff for most key positions since these sectors generally require speciÀ c skill sets. This said, a clear need exists for quality and modern education that creates specialists who have not only acquired professional knowledge and skills but who are capable of independent analytical thinking, who are communicative and intelligent. From the labor conundrum we went to the human one when trying to answer the question can human bodies regenerate? Not yet, is the short answer. In the cradle section on Page 36 you will À nd more. We are also looking at the implications of the new Trump administration for businesses, and the pitfalls of its early actions (for more, turn to Page 8). In Bulgaria a new bill on electronic identiÀ cation was passed in 2016, aiming at the digitalization of public administration services. Read the analysis of Kambourov & Partners on Page 40. To À nd out information on the new companies that got added to the AmCham community, go to Page 42. Sincerely Yours, Irina Bacheva Editor-in-Chief Board of Directors of the American Chamber of Commerce in Bulgaria Content President Ms. Krassimira Chemishanska Amgen Bulgaria Treasurer Ms. Stanislava Taneva Citibank Europe Plc, Bulgaria Branch Members Mr. Iravan Hira Hewlett Packard Enterprise Bulgaria Chamber News. .4 Ms. Iva Todorova IBM Bulgaria directions Mr. Venislav Iotov AIG Europe Limited (Bulgaria Branch) Mr. Petar Ivanov Individual Member Government of Political Balance . .5 Mr. Stoyan Ivanov The Coca-Cola Company Bulgaria Mr. Sergey Koinov AG Capital standpoint Mr. Olivier Marquette AES Bulgaria Detroit to Trump: Mr. Solomon Passy Atlantic Club Bulgaria Ms. Zlatina Ruseva-Savova Individual member Slow Down . .8 Mr. Plamen Zhechev Cisco Systems Bulgaria %<&+5,6.$5$'-29 Ex-Officio Member Ms. Maria Galindo Senior Commercial Officer, U.S. Embassy Acting Executive Director Mr. Alex Nestor 3XEOLVKHU $PHULFDQ&KDPEHURI&RPPHUFHLQ%XOJDULD %XVLQHVV3DUN6RILD0ODGRVW$UHD %XLOGLQJ)ORRU6RILD%XOJDULD 7HO )D[ HPDLODPFKDP#DPFKDPEJ ZZZDPFKDPEJ (GLWRULQ&KLHI ,ULQD%DFKHYD analysis Tourism Breaks Records . .10 &RQWHQW$GYLVRU %<0$5,1$7=9(7.29$ &KULVWRSKHU.DUDGMRY ,661; Bulgarians Advised to Invest in Farmland. .13 :ULWHUV %<,19(6725%* %R\NR9DVVLOHY the american college of sofia &KDLND&KULVWRYD 0DULQD7]YHWNRYD Future Learning: New Campus <XOLDQD%RQFKHYD Center Transforms 157-year-old College . .14 $GYHUWLVLQJ $P&KDP%XOJDULD interview $QD9HONRYDDYHONRYD#DPFKDPEJ Unemployment Falls But Employment 7KH$P&KDP%XOJDULD0DJD]LQHUHDFKHVDEURDG Does Not Rise . .16 DXGLHQFHRI$P&KDPPHPEHUVOHDGLQJ86 cover story %XOJDULDQDQGLQWHUQDWLRQDOFRPSDQLHV86DQG %XOJDULDQGHFLVLRQPDNHUVDOO$P&KDPVDURXQG Labor Market in Bulgaria: WKHZRUOG Between Paradox and Reality . .18 6XEVFULSWLRQLVIUHHRIFKDUJH,I\RXZRXOGOLNHWR %<0$5,1$7=9(7.29$ VXEVFULEHWR$P&KDP%XOJDULDSXEOLFDWLRQVSOHDVH FRQWDFWWKH$P&KDP%XOJDULDRIILFH 7KHFRQWHQWRIWKLVPDJD]LQHLVOLFHQVHGXQGHUWKH &&$WWULEXWLRQ/LFHQVH <RXDUHIUHHWRFRS\WUDQVODWHGLVWULEXWHDQGWUDQV PLWLWEXW\RXPXVWDWWULEXWHWKHFKRVHQZRUNWRLWV DXWKRUDQGWKH$P&KDPPDJD]LQHBusiness Connect DVFUHDWRUVRILW content 3 members Big, Smart Business and 3M Bulgaria EOOD . AA KRES EOOD . AbbVie EOOD . Abrites . Accedia . Actavis Bulgaria EAD Exponential Future of Bulgaria . Adecco Bulgaria Ltd. ADM Bulgaria Trading EOOD . Advance International Transport EOOD . .20 AES Corporation . AFA OOD . AGORA-IN Ltd. AIG Europe Limited (Bulgaria Branch) . AIMS Human Capital . Albena AD . Alcomet AD . Alcon Bulgaria EOOD . ALD Automotive OOD . All Ilia Krastev: Bulgaria Attracts Channels Communication . Alliance One Tobacco Bulgaria . Allied Pickfords Bulgaria . America for Bulgaria Foundation . American College of Sofia . American English Academy . American Research Outsourcing – For Now . .22 Center in Sofia . American University in Bulgaria (AUBG) . Amgen Bulgaria EOOD . Amway Romania Marketing Srl. Anglo-American School of Sofia . AON Bulgaria . Apis Europe JSC . Stoyan Boev: APOLO Ltd. Architect Nikolay Mihaylov Galabov . Architectural Agency Kadinovi Bros LTD . Arexim Engineering . Ashtrom International Ltd. Association Srednogorie Copper Industrial Cluster . Astra Education Should Prepare Zeneca Bulgaria EOOD . AT Engineering 2000 Ltd. Atlantic Club Bulgaria . Atos IT Solutions and Services EOOD . Attica Eva AD . August Research . Auto Bavaria Ltd. Auxionize Jsc . AVAir Specialists for the ICT Industry . .25 Ltd. AVON Cosmetics Bulgaria . AW-Tronics LLC . Axway Bulgaria EOOD . Baker Tilly Bulgaria . Balkan Star Automotive EOOD . Ballistic Cell Ltd. Baxter Bulgaria EOOD . BG Radio . BICA International Ltd. BLVD Ltd. BMG Ltd. BMW Vertriebs GmbH - Branch Bulgaria . BNP Paribas Iravan Hira, HP: S.A. - Sofia Branch . Bojinov & Bojinov . BOYANOV & Co. Braykov's Legal Office . British American Tobacco Bulgaria . Brown-Forman Bulgaria Ltd. Bulgarian Charities Aid Foundation Bulgaria Can Reinvent Itself and (BCAF) . Bulgarian Executive Search Association . Bulgarian International Television . Bulgarian Property Developments EOOD . Bulgarian Tennis Federation . Bulgarian-American Commission for Overcome Stagnation . .27 Educational Exchange Fulbright . Bulgarian-American Credit Bank . BulPros Consulting JSC . Bulstrad Life Vienna Insurance Group . Business Intellect Ltd. Business Park Sofia EOOD . C3i IBM Believes Cognitive Europe EOOD . CAD R&D Centre Progress Ltd. Castello Precast OOD . Center for the Study of Democracy . CEZ Bulgaria EAD . Chaos Software ltd. Cheque Dejeuner Bulgaria Ltd. Technologies Will Transform Our CheckPoint Cardio . Cibank JSC . Cisco Systems Bulgaria . Citibank Europe Plc, Bulgaria Branch . Cleves . CMS Cameron McKenna LLP - Bulgaria Branch . Coca-Cola Enterprises Services Personal and Professional Lives . .29 Bulgaria EOOD . Coca-Cola HBC Bulgaria AD . Coface Bulgaria Credit Management Services EOOD . COLLIERS International Bulgaria . Comverse Bulgaria . Congress Engineering Ltd. Contitrans M Ltd. ContourGlobal Maritsa East 3 AD . Curtis / Balkan Ltd. DA Travel Ltd. Danailov, Drenski, Developing Dual Education Nedelchev & Co. Delchev & Partners Law Firm . Deloitte Bulgaria EOOD . denkstatt Bulgaria OOD . Dentsu Aegis Network Bulgaria OOD . Deutsche Bank AG . Devin AD . DHL Express System Is Key . .31 Bulgaria Ltd. Diamed Ltd. Dimitrov, Petrov & Co. Djingov, Gouginski, Kyutchukov, & Velichkov . Dobrev & Lyutskanov Law Firm . Dr. Greenberg Medical Center . Drujba Glassworks SA . Dundee Stoyan Zhelev: Precious Metals Inc. DuPont Bulgaria EOOD . Economedia . EcoPack Bulgaria AD . Edenred Bulgaria . Ekoterm Proekt EAD . Ekotoi - Service Ltd. Ekzotika EOOD . EL-A-Project Ltd. Businesses Must Cultivate Eldrive . Electron Progress EAD . Eli Lilly and Company . Eltrak Bulgaria Ltd. eMAG . EMC Computer Systems Austria GmbH . Emerson Process Management . EnergoService AD . Own Staff . .34 Engineeringservice Sofia Ltd. Enterprise Communications Group OOD . EOS Matrix Ltd. EPAM Systems Bulgaria . EQE Control OOD . Ernst & Young Bulgaria EOOD . ESRI Bulgaria Ltd. cradle Eurobank Bulgaria . European Bank for Reconstruction and Development (EBRD) . European Trade Center EOOD . EVS Translations Bulgaria . Expat Capital . Experian Bulgaria EAD . FairPlay International . Fama Consulting OOD . Flying Cargo Bulgaria Ltd. - Licensee of FedEx . Force Delta Can Human Bodies Regenerate? . .36 Ltd. Forton AD . Foundation
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