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Design & Digital Print by Print.bg, phone: (+359 2) 400 5000 March, 2014 2013 SOFIA, March, 2014 Table of Contents
Report of the Board of Directors page 1
Key Performance Indicators page 5
Organizational Structure – Board of Directors and AmCham Team page 7
Membership 2013 page 8
AmCham Events 2013 page 14
AmCham Committees & Working Groups page 20
AmCham White Paper page 30
Position Papers and Reports 2013 page 33
Our Speakers page 36
International Cooperation page 42
Financial Report 2013 / Budget 2013-2014 page 45
AmCham Publications 2013 page 46
In the Media in 2013 page 47
Audit Report 2012 page 51
Thank you Letters page 55 Report of the Board of Directors FOR THE YEAR 2013
Dear AmCham Members: Political and economic situation in the country
On behalf of the American Chamber of Commerce Board AmCham lobbying, advocacy and committees’ work of Directors it is my pleasure to present you with our for a better business environment Annual Report for 2013. A rapidly changing political situation – including three The Key Performance Indicators show a detailed presen- separate governments – has made it difficult for Bulgaria tation of the events activities of our committees, position to take steps to overcome a continued economic stag- papers, media coverage, etc. nation. Though the Government declares an ambitious agenda for growth and prosperity, analysts and investors Facts and figures in the AmCham scorecard are a good believe that bold reforms are needed in many sectors. reference to the accomplishments and but it is far more Reforms will only be successful if they are taken as part important to make an analysis based on these facts and of an open, transparent and professional dialog between figures. all stakeholders. Moreover, as we have seen throughout the past twenty years, Government must demonstrate a
Report of the Board of Directors 1 AmCham also strengthened its own institutional capacity by creating a position of Legislative and Policy Advisor which has led to a more structured work of the com- mittees and far better relationship with the state and government institutions. However the core of the com- mittees’ work remains the active involvement of the membership and I would like to thank all who have been involved in designing and implementing the ambitious agenda of the committees, the development of the many position papers, the meetings and discussions with the government officials and the members of parliament. In previous years the committees played mostly the role of forums for sharing best practices, but on many occasions this past year the committees served as “think tanks” where opinions on important pieces of legislation and economic policies are formed and developed. At the Board level we are very pleased that the committees are strong commitment to implementing reforms once con- now the source of so many AmCham positions and state- sensus is achieved. ments; they have become important tools for advocacy and communication policy. With these principles in mind AmCham developed a White Paper which outlines insights that we believe are of critical importance to Bulgaria if it is to reinvigorate its Transatlantic Trade economy and attract investments in a highly competitive and Investment Partnership /TTIP/ marketplace. The United States and the European Union account for The document focuses on core challenges facing the nearly half of the global economic output, with each pro- economy and recommends measures to improve produc- ducing more than USD 16 trillion in GDP. Bilateral trade tivity (inefficiency of the economy). Noting that these creates more than 15 million American and European challenges are not unique to Bulgaria, the Am Cham jobs, and Bulgaria contributes to these numbers. In the believes that moreneeds to be done (and urgently) if the summer of 2013 the United States and the European country hopes to establish a stable and satisfactory qual- Union opened negotiations on a Transatlantic Trade and ity of life for the current and next generation. Investment Partnership (TTIP) which would deepen the The White Paper has been presented to the public and economic relationship between the world’s two leading discussed with the main political parties before the economies and lead to the creation of the world’s largest parliamentary elections. The White Paper has received free trade and economic area. attention and support from the decision makers. However, we at Am Cham ask: Can the country do Prime Minister Oresharski recently made clear that more and take a better advantage of the transatlantic the economic agenda of the Government reflects to a economic partnership? Therefore, have determined great the recommendations outlined in the AmCham to make it a priority to increase public awareness and White Paper. promote the benefits of TTIP. The Chamber also will In order to respond to a the need to express mem- aim to contribute to the complicated process of nego- bers views in legislative and regulatory processes, the tiations by providing expertise, surveys and research Am Cham has established new committees, including for different sectors of the economy. For example we the Energy and Mineral Resources Committee and the submitted to the U.S. Chamber of Commerce a compre- Healthcare Committee. Existing committees such as the hensive report on public procurement in Bulgaria. The Public Procurement and EU Funding Committee, Tax report was developed by the Public Procurement and EU Committee, HR Committee also increased their advo- Funding committee. cacy work while the Quality management committee has In October we organized a major conference on TTIP and expanded its agenda and contributed in sharing best the benefits for both sides of the Atlantic. The Forum practices among the membership.
2 Report of the Board of Directors AmCham donated 10, 000 BGN to the Bulgarian Christmas charity initiative under the patronage of President Rosen Plevneliev. The 2013-2014 campaign is under the slogan “Less children with poor eyesight and poor hearing”. The ultimate goal is to provide high tech appliances for the university and regional hospitals. Furthermore, AmCham Bulgaria responded to an appeal of the Foundation “For Our Children” to help refugee children from Syrian. The Chamber donated 6 000 BGN for needs of children in Harmanli refugee center. This year we are also determined to develop new pro- grams and we would strongly encourage the membership to share ideas how we can bring more value to the com- munities where we live and work.
AmCham Communication Policy gathered over 180 guests representing international In our efforts to provide best quality services to our mem- organizations, business and diplomatic circles, institu- bers and utilize new possible communication channels, tions, the government and the media. The common Am Cham is expanding its use of social media networks. efforts of the moderators and panelists resulted into a Following a survey of other European AmChams, we are dynamic and stimulating discussion which played a major reviewing the overall design and functionalities of the role in the success of the conference. website and assessing how we can improve our commu- nications capabilities. The American Chamber of Commerce in Bulgaria remains alert regarding the transatlantic cooperation talks We are also happy to report the launch of a new publi- between Washington and Brussels and aims at promot- cation on travel and tourism. This is a joint initiative of ing further discussions on the implications of such an AmChams of Bulgaria, Croatia, Czech Republic, Hungary, agreement for the businesses in Bulgaria. Romania, and Slovenia. The organizations have agreed to cooperate in development of a monthly online regional tourism guide Visit Central and Southeastern Europe CSR policy of AmCham where AmCham Bulgaria members can put forward their As good corporate citizens AmCham continued its CSR services to the regional AmCham members through the activities. AmCham network. We participated as always in Volunteer Days initiative We have heard many times that the AmCham Magazine and promoted among the AmCham community projects and the Daily newsletter remain valuable and impor- benefitting the environment, the cultural and archeo- tant sources of information for business, diplomats and logical heritage of Bulgaria, disadvantaged and elderly government officials. We encourage you to share ideas, people, animal rescue centers, etc. For a second time we experience and news in these publications. We also invite launched the initiative “Professionals at School” aiming you to take advantage of the advertisement opportuni- to bring closer the business and the academia. ties these publications provide. At the Thanksgiving Dinner and the Independence Day We greatly appreciate the ideas of our members and Party we raised 77, 000 BGN for such projects as: “Get try to support individual members’ initiatives as much as Ready for Success” which is promoted by the Bulgarian possible. Some examples this past year have included: Charities Aid Foundation. The project provides scholar- cooperation with AoN/Hewitt on its survey for employ- ships for school and university students without parents ees, partnership with Job Tiger which held a contest and the “Start-Ups” fund supporting small projects for for best employer in ICT, public lectures and discussions social integration of vulnerable youth. of the Atlantic Club, support of events of the Overseas Security Advisory Council (OSAC), etc. We hope that you
Report of the Board of Directors 3 keep brining your ideas to AmCham and we will try to AmCham success in 2013 was greatly enhanced by the find ways to add value. support os the U.S. Embassy and the U.S. Commercial Service. Our sincere thanks to Ambassador Ries and the Finally I would like to extend thanks to all the Board Senior Commercial Officer Thomas Bruns. We deeply members and Committee Chairs who have done out- appreciate what they have done for us. standing work by mobilizing members as well as bringing and leading new initiatives. I also feel need to recognize And of course the achievements would not have been with a great deal of appreciation the commitment and possible without the enthusiasm and dedication exhibited the professional work done by the AmCham team and by all members. Our big gratitude is directed to all mem- the Executive Director. bers for the commitment to make the Chamber a vibrant and highly professional organization.
Sincerely,
Peter Lithgow, President
4 Report of the Board of Directors AmCham Key Performance Indicators 2013
KPI 2013 2014 Description Plan/Actual Plan MEMBERSHIP 316 / 302 302 Period 01-12/2013
EVENTS Conferences and 4 / 2 4 Public Procurement Conference with the US Embassy, June 20 Roundtables TTIP Conference – October 24 Business 8 / 5 8 Business Luncheon with Prime Minister-B.Borisov – 29 Jan Luncheons AmCham General Assembly – February 12 & General Business Breakfast with Manpower – March 22 Assemblies Business Breakfast with AON – June 13 AmCham General Assembly – June 25 Business Brunch with Minister of Economy – December 14 Social / 8 / 8 8 Discover U.S. Expo – March 07 Sports Events AmCham Ski Tournament – March 09-10 AmCham – BCAF Volunteer Days 2013 – May 18 Independence Day Celebration – July 06 AmCham – BCAF Volunteer Day – October 10 & Professionals at School Week Thanksgiving Community Dinner – November 25 X-mas Party – December 11 Halloween Party – November 1 Networking 6 / 4 6 Meet New Members Party – April 2 Receptions Meet New Members Party – May 20 Farewell Party for Barbara Lapini – June 25 Networking Reception with U.S. Embassy – October 9
Key Performance Indicators 2013 5 KPI 2013 2014 Description Plan/Actual Plan INTERNATIONAL COOPERATION International 4 / 8 4 AmCham EU Brussels Briefing & Transatlantic Conference – March Cooperation 21-22 AmChams in Europe Transatlantic Conference, New York, Washington DC – June 2-7 AmChams in Europe Best Practices Conference, Finland & Estonia – September 18-20 Financial Times Investing in Bulgaria Events in USA– Chicago, New York, San Jose – February 19-26 Financial Times Investing in Bulgaria Events in Tokio & Hong Kong – March 9-15 US Commercial Service Regional Water Trade Mission – Bulgaria, Romania, Moldova – April 16-17 Public Procurement Conference with US Embassy – June 20 – Romania, Macedonia AmChams in Europe Summer Training in Slovenia – August 21-23 LOCAL COOPERATION Events / 2 / 6 2 Volunteer Day and CSR cooperation with BCAF Projects AON/Hewitt Best Employeers Study Dialogue For The Ecnonomic Development, Dialogica Initiative – October 29 OSAC Events with the US Embassy Bulgarian Donors' Forum "Largest Corporate Donor 2013" – November 11 Top ICT Employer, JobTiger & ICT Media PUBLICATIONS & PROJECTS AmCham Magazine 10 issues, 32 pages Yearbook 2013 500 copies, A4 Annual Report 2012 150 copies Visit Europe Guide – Bulgaria, Chezh Republic, Romania, Moldova, Ukraine AmChams in Europe Social Media Research COMMITTEES 4 / 4 7 Human Resources Committee 4 / 5 6 Public Procurement and EU Funding Advisory Committee 4 / 4 4 Quality Management Working Group 4 / 3 4 Tax Committee 0 / 3 4 Energy & Mineral Resources Committee LOBBYING AmCham White Paper 2013 and colateral meetings with leading parlia- mentary groups Labor Code modernization; Education and Traineeships; Tax issues (excise duty, MSST); Public Procurement in Bulgaria Report for the US Chamber in Commerce; Public procurement legislative provisions; Energy sector issues; New EU Programme Period 2014-2020; Enlarging AmCham international network & business opportunities abroad; Inquiry about Investment Promotion Act amendments
6 Key Performance Indicators 2013 American Chamber of Commerce in Bulgaria Board of Directors
President ...... Mr. Peter Lithgow AES Corporation
European Bank Vice President ...... Mr. Daniel Berg for Reconstruction and Development Vice President ...... Mr. Alex Nestor Individual member
Treasurer ...... Ms. Petya Dimitrova Eurobank Bulgaria
Members...... Mr. Borislav Dimitrov Cisco Systems Bulgaria Mr. David Butts CMS Cameron McKenna Ms. Diana Pazaitova Fama Consulting Mr. George Brashnarov Nemetscheck Bulgaria Ms. Krassimira Chemishanska Amgen Bulgaria Mr. Levon Hampartzoumian UniCredit Bulbank Mr. Sergey Koynov Forton International Mr. Solomon Passy Atlantic Club of Bulgaria
Ex-Officio Member...... Mr. Thomas Bruns Senior Commercial Officer, U.S. Embassy
AmCham Team
Executive Director...... Mr. Valentin Georgiev [email protected] Business Development & Event Manager...... Ms. Nadejda Vakareeva [email protected] PR and Publications Manager...... Ms. Irina Bacheva [email protected] Policy and Legislative Adviser...... Ms. Nadia Lazarova [email protected] Event and Committee Assistant...... Ms. Iva Zhivkova [email protected] Office and Event Assistant ...... Ms. Ana Velkova [email protected] Chief Accountant ...... Ms. Bilyana Petrova [email protected]
7 AmCham Membership 2013
Membership Development 2013 is the first year we are facing a decrease in the membership – as of December 31, 2013 the members num- bered 302. 22 new members joined the Chamber, but at the same time 34 companies terminated their membership. The economic and political crisis in the country has led to constraints in company budgets and as a result some members did not renew their membership in 2013.
8 MEMBERSHIP 2013 Membership Structure by Membership Type, as of December 31, 2013
35 %
Membership Structure by Field of Business, as of December 31, 2013
The sectors with biggest shares among the membership are ICT with 8.2%, the Travel and Tourism with 6%, and Consultancy and Legal services with 6.3%, followed by Manufacturing with 6%.
MEMBERSHIP 2013 9 New Members 22 new member companies joined the Chamber in 2013.
Company Name Industry Membertype
January
GAEA - Green Alternative Energy Assets Energy Multinational company EAD
Geostroy AD Construction and Engineering Local company
Geotrading AD Industrial Equipment and Trade Local company
Interlang Ltd. Services Local company
Jean Talmon Construction and Engineering Individual
National Palace of Culture - Congress Travel and Tourism Local company Centre Sofia
Novotel Sofia MHQ Travel and Tourism Multinational company
February
AGORA-IN Ltd. Construction and Engineering Local company
Club 50 Plus Media and Entertainment Local company
Zobele Bulgaria EOOD Manufacturing Multinational company
April
Actavis Bulgaria Pharmaceutical and Chemical Multinational company
Ms. Anelia Tatarova Consultancy and Legal Services Individual
Philips Bulgaria Ltd. Consumer Goods Multinational company
Tavex EOOD Finance and Banking Multinational company
10 MEMBERSHIP 2013
May
AHNtech Branch Bulgaria Defense Multinational company
Office for Mining Industry Industrial Equipment and Trade Local company and Metallurgy Ltd.
July
Galardo EOOD Real Estate Local company
Information and Communication Intracom Bulgaria EAD Multinational company Technologies
November
Information and Communication ESRI Bulgaria Ltd. Local company Technologies
Novacon Bulgaria Ltd. Audit and Accounting Local company
December
Association Srednogorie Copper Industrial Foundations and Associations NGO Cluster
Fox International Channels Bulgaria EOOD Media and Entertainment Multinational company
MEMBERSHIP 2013 11 AmCham Member Companies as of February 1, 2014
3M Bulgaria EOOD Berlitz Schools of Languages Dimitrov, Petrov & Co. AA KRES EOOD BG Radio Djingov, Gouginski, Kyutchukov, & Abbott Products EOOD BICA International Ltd. Velichkov AbbVie EOOD BLD Asset Management Dobrev & Lyutskanov Law Firm Actavis Bulgaria BMG Ltd. Dr. I.S. Greenberg Medical Center Adecco Bulgaria ltd. BMW Vertiebs GmbH - Branch Bulgaria Drujba Glassworks SA Advance International Transport (Balkan) BOYANOV & Co. Dundee Precious Metals Inc. EAD Braykov’s Legal Office EcoPack Bulgaria AD AES Corporation British American Tobacco Bulgaria Ecotherm Project Jsc AFA OOD Brown Forman Beverages Worldwide Sofia Edenred Bulgaria AGORA-IN Ltd. Branch LLC Ekotoi - Service Ltd. AHNtech Branch Bulgaria bTV Media Group Ekzotika EOOD AIG Europe Limited (Bulgaria Branch) Bulgarian American Enterprise Fund Electron Progress EAD AIMS Human Capital Bulgarian Charities Aid Foundation (BCAF) Elevat Ltd. Legal House Air Berlin PLC & Co. Luftverkehrs KG Bulgarian Development Bank Eli Lilly and Company Albena AD Bulgarian Executive Search Association Eltrak Bulgaria Ltd. Alfred C. Toepfer International Bulgaria Bulgarian Property Developments EOOD EMC Computer Systems Austria GmbH EOOD BulPros Consulting JSC Emerson Process Management ALICO Bulgaria ZhZD EAD, a MetLife Inc. Bulstrad Life Vienna Insurance Group EnergoService AD Company Business Intellect Ltd. Engineeringservice Sofia Ltd. All Channels Communication Business Park Sofia EOOD Enterprise Communications Group OOD Alliance One Tobacco Bulgaria CallPoint New Europe AD EOS Matrix Ltd. Allied Pickfords Bulgaria Carat Bulgaria ESRI Bulgaria Ltd. Alpha Bank Bulgaria Center for the Study of Democracy Etap Adress America for Bulgaria Foundation Cheque Dejeuner Bulgaria Ltd. Eurobank Bulgaria American College of Sofia Chevron Bulgaria Exploration and Eurohold Bulgaria American English Academy Production EOOD EurOmax Resources Ltd. American Research Center in Sofia Cisco Systems Bulgaria European Bank for Reconstruction and American University in Bulgaria (AUBG) Citibank Europe Plc, Bulgaria Branch Development (EBRD) Amgen Bulgaria EOOD Club 50 Plus European Trade Center EOOD Anglo-American School of Sofia CMS Cameron McKenna LLP - Bulgaria Expat Capital AON Bulgaria Branch Experian Bulgaria EAD APOLO Ltd. Coca-Cola Enterprises EY Bulgaria Arexim Engineering Coca-Cola HBC Bulgaria AD FairPlay International Ashtrom International Ltd. Coface Bulgaria Credit Management Fama Consulting OOD Services EOOD Association Srednogorie Copper Industrial Flying Cargo Bulgaria Ltd. - Licensee of Cluster COLLIERS International Bulgaria FedEx Astra Zeneca Bulgaria EOOD Congress Engineering Ltd. Force Delta Ltd. AT Engineering 2000 Ltd. Construction Management Group Forton International AD Atlantic Club Bulgaria Contitrans M Ltd. Foundation Glob@l Libraries - Bulgaria Atos IT Solutions and Services EOOD ContourGlobal Maritsa East 3 AD Fox International Channels Bulgaria EOOD Attica Media Bulgaria Ltd. Crédit Agricole Bulgaria EAD GAEA - Green Alternative Energy Assets August Research Curtis / Balkan Ltd. EAD Aurubis Bulgaria AD Dalkia Bulgaria EAD Galardo EOOD Auto Bavaria Ltd. Danailov, Mihaleva, Nedelchev & Co. Gasstroymontaj Jsc AVON Cosmetics Bulgaria Delchev & Partners Law Firm General Electric International Axway Bulgaria EOOD Deloitte Bulgaria EOOD Geostroy AD Baker Tilly Bulgaria denkstatt Bulgaria OOD Geotechmin OOD Balkan Star Automotive EOOD Deutsche Bank AG Geotrading AD Ballistic Cell Ltd. Devin AD Gi Group Baxter Bulgaria EOOD DHL Express Bulgaria Ltd. GIFTA BC Serdon Diamed Ltd. GlaxoSmithKline
12 MEMBERSHIP 2013 Grand Hotel Sofia Ms. Anelia Tatarova Sogelife Bulgaria IJSC GTC Bulgaria Ms. Kalinka Kovatcheva Sopharma AD Hewlett-Packard Bulgaria Ltd. Ms. Margarita Radeva, CPA Sopharma Trading JSC HILD Asset Bulgaria Jsc. Municipal Bank Plc Hilton Sofia Musala Soft AD St. Sofia Golf Club & SPA Honeywell EOOD Nemetschek Bulgaria Stanton Chase International Bulgaria Hotel Yastrebets Wellness & SPA NEXTDOOR Ltd. Steelcase International IBM Bulgaria Nova Broadcasting Group AD ICAP Bulgaria JSC Novacon Bulgaria Ltd. Stefan Dimitrov, Norman Realestate Co. Ideal Standard - Vidima AD Novotel Sofia MHQ Ltd. Incotex Group Ltd. Nu Boyana Film Studios Sunfoods Bulgaria EOOD - Development Industrial Holding Bulgaria Office for Mining Industry and Metallurgy Licensee of McDonald’s in Bulgaria InterConsult Bulgaria Ltd. Ltd. Sutherland Global Services Bulgaria EOOD Interdean Relocation Services On Bulgaria Ltd. Interlang Ltd. Oracle East Central Europe Limited - Tavex EOOD Branch Bulgaria Intertek - Moody TBI Bank EAD Intracom Bulgaria EAD Orak Group Europe Ltd. TechnoLogica EAD Investbank PLC Orbit Ltd. Investor BG AD Orkikem Ltd. Telelink EAD Panchim Ltd. IP Consulting Ltd. The Coca-Cola Company Bulgaria ITT Exelis PANDA - IP Ltd. Tishman Management Company EOOD Japan Tobacco International Bulgaria Pedersen & Partners Jobs.bg EOOD Penev LLP Titan Zlatna Panega Cement JobTiger Ltd. Penkov, Markov & Partners TMF Services EOOD Pfizer Luxembourg SARL Branch Bulgaria Johnson & Johnson Bulgaria EOOD Totema Engineering JSC Johnson Controls Electronics Bulgaria Philip Morris Bulgaria EOOD UniCredit Bulbank Junior Achievement Bulgaria Philips Bulgaria Ltd. Kaliakra AD Pioneer Semena Bulgaria EOOD UniCredit Leasing EAD PMB EOOD Kamenitza AD Unimasters Logistics Plc Katilin Popov Enforcement Officers PPD Bulgaria EOOD Unique Estates Kempinski Hotel Grand Arena Bansko Premier Luxury Mountain Resort Kempinski Hotel Zografski Sofia Premier Tours Ltd. Unisys Bulgaria Branch KPMG Bulgaria OOD Prestige 96 AD United Bulgarian Bank LANDMARK Property Management EAD Progress CAD R&D Centre Ltd. VAPTECH Ltd. Lexim Sofia Ltd Provident Financial Bulgaria Ltd. Lindner Immobilien Management EOOD PSG Payroll Services Ltd. Videolux Holding / Technopolis Lirex BG Ltd. PwC Bulgaria VISA Europe Quadrant Beverages JSC M3 Communications Group, Inc. A Hill & VIVACOM Knowlton Associate Radisson Blu Grand Hotel Maria Vranovska, MD, MBA Red Devil Catering Plc VMware Bulgaria EOOD Mars Incorporated Bulgaria EOOD Regus Bulgaria Ltd. VSK Kentavar - IZ Dinamika EOOD Marsh EOOD Renault Nissan Bulgaria SRL VUZF University Higher School of Maxi I AD Right Rental Ltd. Insurance and Finance MB Communications RSM BX Ltd. MBL| Part of the CBRE Affiliate Network S&T Bulgaria Walltopia Ltd. Megatron EAD Sanofi - Aventis Bulgaria EOOD Welcome to Bulgaria Mellon Bulgaria EAD Sb Accounting and Consulting Westinghouse Energy Systems Bulgaria Merck Sharp & Dohme Bulgaria Schenker EOOD Branch Microsoft Bulgaria Schneider Electric Bulgaria Miltech Ltd. SECTRON World Courier Bulgaria Ltd. Minstroy Holding Jsc Sensata Technologies World Transport Overseas Bulgaria Ltd. Mobiltel EAD Shell Bulgaria EAD WorleyParsons Nuclear Services JSC Monbat Plc. Sherita M Ltd. Wrigley Bulgaria EOOD Mondelez Bulgaria AD Siemens EOOD Moten Sport SIENIT Holding Xerox Bulgaria Ltd. Moto-Pfohe Ltd. Sitel Bulgaria EOOD Zlatina Ruseva-Savova, LL.M., MBA Movex Relocations Sodexo Pass Bulgaria EOOD Zobele Bulgaria EOOD Mr. David Hampson Sofia Hotel Balkan Mr. Jean Talmon A Luxury Collection Hotel
MEMBERSHIP 2013 13 AmCham Events Overview 2013
JANUARY
Business Luncheon with Prime Minister Boyko Borissov January 29, Sofia Hotel Balkan
More than 300 businesses, foreign envoys, government officials and about 60 media representatives took part in the Business Luncheon with Prime Minister Boyko Borisov in January. The premier’s speech was entitled: Government Priorities and Policies in the New Planning Period and the Multiannual Financial Framework 2014-2020 of EU. The prime minister elaborated on the major achievements of the Bulgarian government dur- ing the past 4 years: low foreign debt, low budget deficit, improvements in the administrative capacity, political and economic relations with the EU and the US.
February
AmCham General Assembly February 12, Hilton Sofia Hotel
Seven AmCham BoD members were elected at the February General Assembly held at the Hilton Sofia hotel: Daniel Berg, EBRD Bulgaria, David Butts, CMS Cameron McKenna , Petia Dimitrova, Eurobank Bulgaria, Sergey Koinov, Forton International, Peter Lithgow, AES Corporation, Solomon Passy, Atlantic Club Bulgaria, and Roman Vassilev, individual member.
March
Discover U.S. Expo March 7, National Palace of Culture
The Discover U.S. Expo aimed at promoting travel, tourism, and education- al opportunities in the United States. Hundreds of Bulgarians visited the expo in the National Palace of Culture to get acquainted with the oppor-
14 Events Overview 2013 tunities by talking to educational experts and travel companies. Consul General Deborah Campbell held a session on the visa application process, the Bulgarian Fulbright Commission gave a presentation on educational advising for study in the United States, and Emily Wolman, Associate Publisher of Lonely Planet Americas, shared her tips about budget travel in the U.S.
Business Breakfast with Manpower March 22, Sheraton Sofia Hotel Balkan
David Arkless, world-renowned expert on labor market trends shared knowledge on the main trends on the world labor market with AmCham members. The business breakfast was attended by the busi- nesses, syndicates, reps of the ministry of labor, employment agency, HR consultancy agencies, and universities in Bulgaria.
AmCham Ski Tournament March 09-10, Pamporovo Ski Resort
Close to 100 racers took part in the competition and enjoyed the wonderful mountain atmosphere, many presents and after parties. Ambassadors and senior executives of AmCham member companies competed neck in neck for the wonderful awards kindly provided by the member companies.
April
Meet New Members Party April 2, Kempinski Hotel Zografski Sofia
100 guests were welcomed by Solomon Passy, Chair of AmCham Membership Committee and CEO of the Atlantic Club Bulgaria. The companies, which took part with formal presentations during the event were: Club 50 Plus, Expat Capital, Geotechmin Group, InterConsult Bulgaria and RSM BX Ltd.
May
AmCham - BCAF Volunteer Days 2013 May 18, Sofia and countryside
During the eleventh volunteer campaign of AmCham and BCAF the vol- unteers worked at archaeological sites and cultural monuments, among them Western Gate of Serdica, the Antique mausoleum in the South Park of Sofia. The volunteers helped refurbishing of the Polytechnic museum, the National museum of military history as well as the Boyana Church yard. In addition, volunteers cleaned the road-bed of a charity marathon near Pancharevo lake where 250 people took part.
Events Overview 2013 15 Meet New Members Party May 20, Novotel Sofia
Six companies presented their products, services and activities: Air Berlin, GTC Bulgaria, Novotel Sofia, Quadrant Beverages, Premier Luxury Mountain Resort, and Prestige 96. The event provided plenty of opportunities for networking and for creating new business pos- sibilities.
June
Business Breakfast with AON June 13, Hilton Hotel Sofia
100 AmCham members and several Bulgarian media representatives participated in the AmCham business breakfast with Aon Hewitt entitled “More than ever, employee engagement matters for better business performance”. Aon experts elaborated on the launch of Best Employers Study 2013 that was to be held for seventh year in 10 coun- tries of Central and Eastern Europe.
Public Procurement Conference with the US Embassy June 20, U.S. Embassy in Bulgaria
AmCham business community recommended transparency, lifting of the restricting procedures and launch of electronic public procurement in Bulgaria during the conference on the government procurement jointly organized with the U.S. Embassy in Sofia and with the participa- tion of experts from Romania and Macedonia. Officials, lawyers, and business reps from Bulgaria, Romania, Macedonia, and USA shared views and experience on the public procurement. The conference continued a series of events presented by the AmCham and American Embassy on good governance. Among the speakers were: Dragomir Stoynev, Minister of Economy and Energy, Iskra Mihaylova, Minister of Environment and Water, Ivan Danov, Minister of Investment Planning, and Dan Nica, Minister of Information Society, Romania; Alex Nestor, vice-president, AmCham, Ambassador Marcie Ries, U.S. Embassy in Bulgaria.
AmCham General Assembly & Farewell Party for Barbara Lapini June 25, Kempinski Hotel Zografski Sofia
Three AmCham board members were elected at June’s General assem- bly meeting: George Brashnarov, Nemetschek Bulgaria, Krassimira Chemishanska, Amgen Bulgaria and Diana Pazaitova, Fama Consulting. After the assembly many members attended the farewell party of Ms Barbara Lapini, U.S. commercial attaché. The commercial envoy ended a successful two year mandate in Bulgaria.
16 Events Overview 2013 July
Independence Day Celebration July 6, American College of Sofia
The downpour did not affect the great moods at the 19th celebration of Independence Day of AmCham Bulgaria. It was wonderful to enjoy the delicious BBQ & beer, rock-and-roll music and dances under the tents. Valentin Georgiev, AmCham executive director, Daniel Berg, AmCham vice president, Bryan Dalton, deputy chief of U.S. Mission welcomed and congratulated with July 4th anniversary hundreds of guests. B.T.R. band as well as the legendary Kiril Marichkov performed all the evening on.
October
AmCham - BCAF Volunteer Day & Professionals at School Week October 12 – 20
The 12th Volunteer Days Campaign launch happened at the National Museum of Military History. Works on 13 projects took place simultane- ously in Sofia, Pleven and Stara Zagora, involving cleaning and improving the facilities of cultural, social, health institutions, natural parks, weeding, planting, painting, joining “creative workshops” to produce souvenirs and other items and helping at the animal rescue centers.
Networking Reception with U.S. Embassy October 9, Grand Hotel Sofia
Around 100 AmCham members and U.S. Embassy key officers met during the meeting. While elaborating on AmCham’s role as a mediator between the business and government officials, the chamber’s leaders also stressed the importance of the development of trade relations between U.S. and Bulgaria. Great appreciation was expressed for the highly successful part- nership with the US embassy that is important for all AmCham businesses.
Conference The Transatlantic Economic Cooperation for Competitiveness and Growth. TTIP Agreement: Bulgaria’s Perspective October 24, Sheraton Sofia Hotel Balkan
Possibly the biggest highlight on AmCham’s event calendar for 2013 was the Transatlantic Trade and Investment conference. The event gathered international and local experts on transatlantic relations, who discussed the benefits of bringing down trade and investment barriers across the Atlantic and the possible challenges that lay ahead for both parties of such an agreement. Keynote speaker Jospeh Quinlan, Managing Director and Chief Market Strategist at U.S. Trust, Bank of America, advised that Bulgaria has to fit in the equation by understanding the importance of the foreign investments and to understand well what the multinational com-
Events Overview 2013 17 panies want. Among the mentioned areas of importance were: property rights protection, construction permits, clear policies, and solid institu- tions. Bulgarian President Rosen Plevneliev stated that a trade agreement between the EU and US would result in stronger economic growth and more foreign investments in the country. The deputy prime-ministers Daniela Bobeva and Zinaida Zlatanova also took part in the discussions. Hendrik Bourgeois, president of AmCham to the European Union said that the partnership agreement would be a very good tool to bring Europe to the attention of the companies’ boardrooms of America, mainly due to improved competitiveness.
November
Halloween Party November 1, Adi’s Cook and Book
AmCham Bulgaria cheered up its members and their kids with a spooky Halloween party at a Friday evening. Thanks to the great cooperation with co-organizers Red Devil and Right Rental the party was a huge suc- cess and brought a lot of happy memories for the members and their families.
Thanksgiving Community Dinner November 25, Kempinski Hotel Zografski Sofia
At the AmCham Thanksgiving Community Dinner the fundraising from bids reached 37 000 BGN. In 2013 the chamber raised in total over 77 000 BGN for the projects: Get ready to succeed program of Bulgarian Charities Aid Foundation (BCAF) that provides scholarships for school and university students without parents, and the “Start-ups” fund supporting small projects for social integration of vulnerable youth. Over 240 members registered for the dinner this year.
18
18 Events Overview 2013 December
X-mas Party December 11, Sheraton Sofia Hotel Balkan
More than 500 representatives of member companies, bilateral chambers and local business associations, partners, ambassadors, government offi- cials, and media enjoyed the traditional Christmas party of the chamber in December. Duetto Lirico Ensemble led by soprano Christina Vassileva, Ivaylo Donkov, tenor, and Boryana Naydenova, piano greeted the audi- ence by performing classical music pieces. The program continued with rock, blues, funk and soul by the well-known Dirty Purchase band with the leading vocals Amalia and Emo.
Business Brunch with the Minister of Economy December 14, Hilton Sofia Hotel
Before the representatives of American businesses, the Minister of Economy and Energy Dragomir Stoynev underlined that in order to gain the trust of foreign investors, a stable and predictable business environ- ment should be guaranteed. One of the first tasks of the government was to remove the pressure on the economy and to reestablish the dialogue with businesses, he reminded. The event was of great interest to the AmCham membership and to the energy companies in particular.
19
Events Overview 2013 19 AmCham Committees & Working Groups
Tax Committee
Co-Chairs: Mr. Paul Tobin, PwC Bulgaria Mr. Milen Raikov, EY Bulgaria Mission: to promote a modern tax framework based on best international practices, facilitate the correct and transparent implementation of the tax legislative system, and enhance stability and predictability in the tax system to support the positive development and growth of the Bulgarian economy. Activities in 2013 In 2013 the AmCham Tax Committee organized a series of working meetings to discuss technical topics of interest to the membership. Committee members provided valuable input for the AmCham White Paper 2013 and were instrumental for the preparation of the statements on the excise taxation policy in Bulgaria and the proposed increase of maximum social securities threshold, 2014 Budget Procedure, developed in cooperation with the AmCham HR Committee October 2, 2013 Discussion on the Upcoming Draft Changes in the Tax Legislation in 2014 The meeting provided a recap of Committee’s main goal, which is to attend to members’ needs and concerns in the area of taxation and financial regulation, engage in cooperation with political and public organizations, and add value to members’ business operations. There was a discussion on the upcoming changes of the Tax-Insurance Procedure Code, the Law on Value Added Tax, the Excise Duties and Tax Warehouses and cash accounting. Committee members decided to develop an official position on the proposed increase of maximum social securities threshold, 2014 Budget Procedure.
November 6, 2013 Individuals’ Tax and Social Security in Cross Border Situations Presented by: Nevena Kovacheva, EY Bulgaria, Head of Human Capital for Bulgaria, Macedonia and Albania
Scope: - Global mobility policies and trends - Company policies
20 AmCham Committees - Employment, directorship, freelancing and other activities
Tax aspects: - Determination of tax residency based on PITA and OECD Model Tax Treaty - Taxation of employment income (regular salary and benefits in kind) - Taxation of director’s fees - Taxation of other sources of income (dividends, capital gains, interest) - Obligations for companies and individuals - Avoidance of double taxation
Social security aspects: - Within the EU - Outside the EU - Deduction of contributions December 18, 2013 Update on the Upcoming Changes in the Tax Legislation for 2014. Moderated by: Orlin Hadjiiski, Tax Director, PwC Bulgaria
The meeting presented an overview of the upcoming changes in the Law on Value Added Tax, the Excise Duties and Tax Warehouses Act, the Accountancy Act, the Local Taxes and Fees Act, the Personal Income Tax, the Law on the Corporate Income Tax and the TAX Procedure Code.
Plans for 2014 In 2014 the AmCham Tax Committee will focus on improving the relations with the AmCham members in order to develop an agenda driven by members’ concerns and needs. Another priority will be to enhance the cooperation with the government, provide access for AmCham experts to cross ministerial working groups and participate in stakeholders debates on key sector specific issues and policies.
AmCham Committees 21 Human Resources Committee Co-Chairs: Ms. Dobromira Manasieva, VIVACOM Ms. Zlatina Kushkieva, Adecco Bulgaria Ltd Mission: provides a platform for HR professionals and consultants from multi-national and local companies to share, discuss and learn about the latest trends in HR sector as well as to collectively influence local policy and decision makers for effective solutions in labor legislation and education which will improve the Bulgarian labor market. Activities in 2013 In 2013 the AmCham HR Committee focused on issues relating to labour and social security legislation, employment promotion as a means to improve the investment climate in the country, enhancing the dialogue with the government on key policy issues, business and education synergy and sharing of corporate best practices. The HR Committee provided valuable input for the AmCham White Paper 2013 and was instrumental for the preparation of a series of relevant position papers on the proposed increase of maximum social securities threshold, 2014 Budget Procedure, developed in cooperation with the AmCham Tax Committee, and the Bill for Amending the Labor Code in relation to traineeships. The HR Committee provided an article for ICT Media edition of Computerworld: ICT Employer of the Year 2013 on the IT labor market in Bulgaria, hiring and remuneration trends and recommendations to HR EU funded projects related to reducing the admin burden of employers. February 22, 2013 Round Table Discussion on the Priorities of AmCham Human Resources Committee for 2013. AmCham White Paper 2013
March 15, 2013 Recent case law in the area of labour and employment law Presented by: Tanya Stivasareva, Manager, Ernst & Young Law Partnership The presentation covered important cases of the Supreme Court in the area of termination of employment, disciplinary dismissal, selection procedure, equal treatment and equal pay, overtime payment, non-compete clause and other related matters.
22 AmCham Committees May 29, 2013 Best Practices in Training. How to Measure Training Quality and Training Effectiveness for The Purpose of Organizational Goals Achievement Presented by: Darina Zlatarska, Training Manager, Intertek Ventsislava Kyuleva, HR Manager, Titan Zlatna Panega Cement The meeting was organized jointly with the AmCham Quality Management Working Group and showcased different approaches to training activities, ways to the improve the effectiveness of corporate trainings, training needs analysis, how to manage knowledge in the organization and to measure the results of the training activities.
October 11, 2013 Meeting to discuss AmCham Position Paper on the Proposed Increase of Maximum Social Securities Threshold, 2014 Budget Procedure
October 22, 2013 Sharing of Company Practices in Employee Engagement Presented by: Blagovesta Karemova, HR Manager, Danone Bulgaria Lyubomir Terziev, HR and Administrative Director, Electrostart AD Katerina Shopova, HR Director, British American Tobacco Bulgaria Natalia Georgieva, HR Manager, Blizoo Media and Broadband EAD Gergana Gancheva, Project Leader „Best Employers Study“, AON Bulgaria
The meeting provided a platform for sharing of best practices in relation to employee engagement, constructive management changes for continuous employee development, and global and European engagement trends and strategies for taking engagement results in action.
November 7, 2013 Round Table on the Bill for amending the Labour code in relation to trainEESHIPS
Plans for 2014 In 2014 the AmCham HR Committee will keep its efforts to improve and modernize the labor legislation in Bulgaria. Special emphasis will be put on internships, pensioning, youth employment, electronic CPS registrations and reducing the administrative burden. The HR Committee will continue the active dialogue with the government on current sector specific issues and policies and will give floor to members to exchange knowledge and share best practices in the field of HR.
AmCham Committees 23 Corporate Social Responsibility Committee
Co-Chairs: Ms. Elitza Barakova, Bulgarian Charities Aid Foundation (BCAF)
Mission: The mission of CSR Committee is to encourage and facilitate responsible business practices among AmCham members and support them to improve the quality and effectiveness of their CSR programs and actions.
The Committee will work to increase awareness on CSR issues and support companies’ leadership and staff through spreading information, ensuring learning and access to novel- ties, and generally creating a platform for sharing best practices in achieving CSR goals.
The Committee will focus mainly on social investment and community outreach activities and will cooperate with other committees such as Public Affairs and Human Resources in other aspects of CSR as corporate governance, employee health and safety, etc..
Activities in 2013 In 2013 the activities of the CSR Committee included individual meetings with AmCham members aiming to improve their relations with communities, the spring and fall Volunteer Days and joint fundraising during the AmCham Independence Day Party and the Thanksgiving Community Dinner, which brought about BGN 77 000 in support of priority causes. AmCham-BCAF Spring & Fall Volunteer Days 2013
In May 2013 AmCham and BCAF organized the 11th traditional Volunteer Day and gathered over 600 participants from 16 com- panies in the cities of Sofia, Varna, Pleven, Sliven and Stara Zagora. The volunteers cleaned-up archeological sites and monu- ments, planted trees in city parks and helped in day-care centers for disadvantaged people and elderly people. Special guest to the official opening was the U.S. Commercial Attaché Barbara Lapini. The spring campaign was supported by American Research Center- Sofia, Association for Development of Sofia and Municipal Cultural Institute, and was to the benefit of Sofia’s candidacy for European Capital City of Culture 2019.
The fall AmCham-BCAF Volunteer Day took place in October 2013. About 250 volunteers teamed up for 13 projects taking place simultaneously in the cities of Sofia, Pleven and Stara Zagora. The campaign promoted cleaning and improvement of the facilities of cultural, social and health institutions, planting, weeding and painting activities in natural parks, handwork in creative workshops and help at animal rescue centers.
24 AmCham Committees As part of the fall volunteer campaign, the initiative “Professionals at School” took place on October 14-25, 2013 in over 23 schools in Sofia, Varna, Burgas, Svishtov, Stara Zagora, Russe, Plovdiv, Blagoevgrad, Lukovit and Teteven. Managers and experts of leading business organizations in the country met with high schoolers dur- ing their classes to tell inspirational and insightful stories about their professions, carrier development and professional success, answer questions and give practical advice. The initiative “Professionals at School” was supported by the Association “Professional Forum for Education” and the Regional Inspectorate of Education in Sofia. During both volunteer campaigns our media partners were: BNT, Econ, Darik Radio, etc.
Charity Fundraising & Donations AmCham charity fundraising initiatives continued throughout the whole year 2013. The funds were allocated to Chamber’s priority CSR projects and initiatives. In addition AmCham made several donations for external charity causes approved by the Board of Directors.
AmCham Thanksgiving Dinner
At the Thanksgiving Dinner and the Independence Day Party we raised 77, 000 BGN for such projects as: “Get Ready for Success” which is promoted by the Bulgarian Charities Aid Foundation. The project provides scholarships for school and university students without parents and the “Start-Ups” fund supporting small proj- ects for social integration of vulnerable youth.
• AmCham donated BGN 10 000 for the Bulgarian Christmas charity initiative, held under the auspices of President Rosen Plevneliev. The Bulgarian Christmas charity cam- paign 2013/2014 is dedicated to providing district and university hospitals with equipment for early diagnosis and treatment of children with visual and hearing impairments.
• The American Chamber of Commerce in Bulgaria donated BGN 6 000 to “For Our Children Foundation” in support of Syrian children refugees. Plans for 2014 In 2014 the activities of the CSR Committee will be focused on employees’ community engagement, provision of sustainable solutions to create real employment opportunities, organization of working meetings on relevant for the Committee topics and knowledge and best practices’ exchange.
AmCham Committees 25 Public Procurement and EU Funding Advisory Committee
Co-Chairs: David Hampson, AmCham Individual Member Zlatina Ruseva-Savova, “Ruseva-Savova Law Office” and Co-Chair of the AmCham Public Procurement and EU Funding Advisory Committee Mission: to promote a transparent and modern public procurement framework based on best European and other international practices, to facilitate the correct and transparent implementation of the Bulgarian public procurement law and any legislation relevant to public private partnership, and to enhance stability and predictability of the public procurement tender award procedures in order to support the positive absorption of European Union funding in the country. Activities in 2013 In 2013 the the Public Procurement and EU Funding Advisory Committee focused on key policy and legislative issues; updated the membership on the opportunities of the next EU funding cycle; discussing with the membership sector specific issues; developed member based position papers and field related policy recom- mendations; enhanced the dialogue and cooperation with the government. The Committee provided substantial support for a number of landmark events and initiatives of the Chamber, including the AmCham White Paper 2013, analysis on the public procurement in Bulgaria, requested by the U.S. Chamber of Commerce, in relation to TTIP, the Regional Conference: Transparency in Government Procurement, and position paper on the Bill for amendments of the Public Procurement Act (the Bill). The Committee attended sittings of the leading parliamentary committees in relation to the Bill. February 20, 2013 Working Meeting with the leaders of the Working Groups of the AmCham Public Procurement and EU Funding Advisory Committee to discuss the agenda and task plan for 2013 for each Working Group of the Committee. February 27, 2013 Round Table to discuss the input provided by the members of the Public Procurement and EU Funding Advisory Committee in relation to the AmCham White Paper 2013. September 23, 2013 Working Meeting to discuss the draft amendments to the Public Procurement Act (PPA) to be discussed by the Bulgarian Parliament with a view to preparing an official opinion on the draft amendments to the PPA. November 28, 2013 Round Table to discuss key R&D issues outlined in the DIGITALEUROPE Statement of Principles of the European ICT Industry on collaboration in H2020-funded projects of November 6th, 2013. The meeting provided update on the new Operational Programs for the 2014-2020 Program Period, including membership interest and grant opportunities under the upcoming Operational Programs. Presented by: Maria Yaneva, Business Development Associate Director, EY Bulgaria Zlatina Ruseva-Savova, Co-Chair of the Public Procurement and EU Funding Advisory Committee David Hampson, Co-Chair of the Public Procurement and EU Funding Advisory Committee Plans for 2014 In 2014 the Public Procurement and EU Funding Advisory Committee will continue monitoring ongoing legislative initiatives.The scope of work of the Committee will also include the new Operational Programs for the 2014-2020 Program Period, EU funding monitoring, TTIP negotiations, developing member-based case studies in the area of public procure- ment and cooperation with fellow bilateral chambers.
26 AmCham Committees Quality Management Working Group
Chair: Ms. Vyara Stankova, Deputy General Manager, South Eastern Europe at Intertek
Mission: To foster the importance of quality control and standards for better products and successful business; to be the meeting point of all those members of AmCham interested in quality management systems allowing them to share quality management practices among themselves, create benchmarks and start quality initiatives.
Activities in 2013 In 2013 the activities of the Quality Management Working Group were focused on sharing of experience and good practices between AmCham members related to business and quality management. The Committee organized a series of meetings and collaborated with fellow AmCham committees to discuss issues relating to global risks – economic, environmental, geopolitical, societal and technological. Member companies shared experience in relation to strengthening of risk resilience to the benefit of global society and enhancing the collaboration with the government for addressing complex risks.
January 16, 2013 CSR Standards and Social Audits
Presented by: Boyan Gyuzelev, Business Development Manager SEE, Intertek Galya Tsonkova, Sustainability Manager, Coca-Cola HBC Bulgaria AD Elitsa Barakova, Executive Director, Bulgarian Charities Aid Foundation (BCAF) Marina Stefanova, Executive Director, Global Compact Network Bulgaria Georgi Ruitchev, Executive Director, Bulgarian Business Leaders Forum
The meeting was organized jointly with the AmCham CSR Committee and provided a platform for companies to share knowledge and best practices in relation to the different quality measuring tools and show how they enable companies to register progress and measure the effects of companies’ socially responsible activities.
March 27, 2013 Energy Management Standards and Energy Efficiency Approaches
Presented by: Vyara Stankova, Deputy General Manager SEE, Intertek Tsvetan Nikolov, Technical Director, Aurubis Bulgaria AD
At the meeting was presented the standard ISO 50001 Energy Management and the Energy Management System of Aurubis Bulgaria AD.
AmCham Committees 27 May 29, 2013 Best Practices in Training. How to Measure Training Quality and Training Effectiveness for the Purpose of Organizational Goals Achievement
Presented by: Darina Zlatarska, Training Manager, Intertek Ventsislava Kyuleva, HR Manager, Titan Zlatna Panega Cement
The meeting was organized jointly with the AmCham HR Committee and presented different approaches to training activities, ways to improve the effectiveness of corporate trainings, training needs analysis, managing in the organization and measuring the results of the training activities.
October 30, 2013 Total Risk Management
Presented by: Nikolay Yordanov, Leader of Intertek Center of Excellence for Risk Management and IT Security Peter Lithgow, Country Manager, AES Corporation Nikolay Minkov, Executive Director, Srednogorie Med Industrial Cluster
At the meeting were discussed topics relating to strategic business conti- nuity management and pro-active total risk management as a means to improve company’s market development in a challenging environment of global economic, geopolitical, environmental, societal and technological changes.
Plans for 2014 In 2014 the Quality Management Working Group will continue encouraging members to share experience and good practices in the area of business and quality management. The scope of interest of the Committee will include new aspects of risk, safety and business continuity management in the dynamic global environment; integrated approach to manage- ment – quality, environmental, health and safety, information security, social accountability, business continuity, etc.; providing information to AmCham members regarding the inter- nationally recognized systematic approach to management; provision of competent lectur- ers on topics related to business management and organization of discussions about good management practices; and assistance to AmCham members in developing competences for optimization of management processes.
28 AmCham Committees Energy & Mineral Resources Committee
Activities in 2013
October 21, 2013 Launch of The Energy & Mineral Resources Committee
The Energy & Mineral Resources Committee was establishment in response to the identified need at AmCham level to address and provide representation on significant problems in the energy and mineral resources sector which have negative impact not only on companies operating in the sector but also on the business as a whole. The newly founded Committee will monitor sector specific legislative changes and the development of the new National Energy Strategy.
November 21, 2013 AmCham Position Paper: Improving the Financial Health of the Bulgarian Energy System – Status and Following Actions. New Model for the Liberalized Energy Market.
Speakers: Aneliya Erdly, Country Manager, AES Solar Bulgaria Svetoslav Dimitrov, Partner, Penkov, Markov & Partners Nickolay Kiskinov, Senior Associate, Penkov, Markov & Partners
As a result of the collective efforts of the AmCham Energy and Mineral Resources Committee, on December 2, 2013, AmCham Bulgaria submitted to the Council of Ministers and the Ministry of Economy and Energy a position paper on the state of the Bulgarian electric system including proposals and concrete measures for improvement of its financial health. The AmCham position was supported and co-signed by Confindustria Bulgaria and says that any reforms in the energy sector have to be based on the fundamental principles of transparency, predictability, and sustainability, as well as consultation with all interested parties.
December 10, 2013 Recent Legislative Amendments to the Energy Act and the Energy from Renewable Sources Act
During the meeting were discussed the voted amendments of the RES Law, including historical background and motives, cumulative financial impact for solar/wind, stakeholders reactions and following actions.
Committee Members developed key messages to be discussed with the Minister of Energy and Economy Dragomir Stoynev at the AmCham Business Brunch on December 14th, 2013.
AmCham Committees 29 AmCham White Paper on Economic Growth and Job Creation April 2013
This White Paper provides the basic principles AmCham believes will help to stimulate economic growth and increase competitiveness of the Bulgarian economy. Core chal- lenges facing the next Government are slow economic growth and low productivity (inefficiency), which are both negatively impacted by an aging and shrinking work force. These challenges are not unique to Bulgaria. However, Bulgaria needs to do more and do it urgently to address these problems in order to ensure a stable and satisfactory quality of life for the current and next generation. Perhaps, most important, Government action is needed to ensure business about the intention to maintain a welcoming and stable political, economic and regulatory environment.
Given the above, AmCham identified core recommendations as follows: 1. Maintain financial stability; 2. Focus on economic growth and introduce measures to stimulate domestic and foreign investment; 3. Use tax policies to stimulate job creation; 4. Ensure legislative and regulatory transparency and predictability; 5. Stimulate education, entrepreneurship and innovation; 6. Ensure absorption of EU funds and international cooperation; 7. Encourage expanded lending by the banking sector;
1. Maintaining financial stability/improved fiscal process: The Currency Board arrangement is a key component of investor confidence and should be maintained and supported by appropriate fiscal and monetary policies, such as maintaining mandated levels of fiscal and monetary reserves. Continue negotiations with the EU with expectation that Bulgaria will eventually enter the Euro currency zone. Seek efficient use of available budget resources to stimulate growth and job cre- ation, and support highly vulnerable population. Increase transparency of fiscal processes. Aim for 100% e-government in fiscal transactions. Accelerate VAT refund process to improve liquidity for businesses.
2. Focus on economic growth / introduction of measures to stimulate domestic and foreign investment: Reform and support a functioning one-stop-shop service at InvestBulgaria Agency: Designate InvestBG Agency as a cabinet level Agency.
30 AmCham White Paper InvestBG Agency should be ombudsman to ensure Government meets legal and regulatory obligations to business. Centralise in InvestBG Agency incentive programmes which allow better utilization of available Government and EU programmes. Provide targeted incentives to promote investment. Incentives should be linked to regional, environmental or labor force objectives. Government should establish long-term targets for minimum job creation. Incentives used also for purchases of machinery and equipment to stimulate entrance of investors in labor-intensive industry. Incentives also could target R&D and hi-tech industries through, for example, tax deduction or accelerated depreciation of R&D and training costs. Ensure sufficient infrastructure around industrial parks and economic zones. Complete digitalization of the real estate and cadaster registries and create cadastral maps for the whole country. Accelerate development and implementation of e-government and related services.
3. Using tax policies and procedures to stimulate job creation: Enhance capacity of the “Large Investor Taxpayer Unit” with specialized and trained staff to oversee tax affairs for investments above a certain limit. Retention of flat 10% tax on income of individuals and corporations. Implement a procedure allowing taxpayers to obtain binding rulings from revenue authorities. Support voluntary disclosure of unintentional errors on previously submitted tax returns. Extend the time limits for filing appeals.
4. Legislative and Regulatory Transparency and Predictability: Enforce the Law on Regulatory Impact Assessment. Endeavor to avoid negative impacts of new laws on business. Introduce minimum statutory period after introducing amendments to laws before they become effective. Ensure conformity of public procurement processes. Ensure a strict schedule and transparency in the process of awarding procurements and utilizing EU funds, including to prevent setting restrictive terms and conditions. Consider mandatory training by EU and other experts for individuals involved in pro- curement procedures. Speed up implementation of secure electronic public procurement.
5. Supporting Education, Entrepreneurship and Innovation:
Bulgaria’s economic growth depends on ability to support entrepreneurs and disseminate knowledge and skills needed to create innovative companies. Support businesses working with educational institutions, for example by incentiv- izing internships by students in practical business situations. Work with businesses and business chambers to introduce educational programs/ curricula that serve business expectations.
AmCham White Paper 31 Create a Government-Business Independent Agency to promote and assist entrepre- neurs and start-ups. Increase salaries of teachers to above average in public sector. Finance educational institutions based on: success of students to pass internationally recognized tests success in career placement of students in their area of study Expand foreign language and computer training in both high school and university curricula. Promote CSR initiatives that encourage and assist entrepreneurships and start-ups.
6. Increasing absorption of EU funds and International Cooperation:
Although the pace of absorption of EU funds has increased, Government can cooperate more fully with international organizations: Consider fiscal advice and support from IMF and World Bank as has been done by other EU countries during the crisis, such as Poland. Utilize World Bank, EBRD and EIB for key infrastructure, including: Strategic support for key state owned companies which require significant restructuring. Ensure leveraging of grant assistance. EU funds, and other sources, should be tied to key reforms and co-financing from the private sector. Utilise public private partnership to develop successful infrastructure. Develop and implement a single national plan for promoting energy efficiency invest- ments linked to available grant programmes. 7. Encouraging expanded lending by the banking sector: Involve commercial banks in co-financing mechanisms to improve absorption of EU funds. Consider creating incentives for lending to key sectors of the economy. Establish a centralized credit bureau to help reduce the credit risk. Expand use of secure electronic mechanisms to ease financial transactions.
32 AmCham White Paper AmCham Position Papers and Reports 2013
AmCham Report on Public Procurement Praised in the U.S.
In 2013 AmCham Bulgaria submitted a report on public procurement in Bulgaria to Peter Chase, Vice President, Europe, U.S. Chamber of Commerce. The report that focused on issues faced by U.S. companies while bidding in Bulgaria was developed by Zlatina Ruseva-Savova, LL.M., MBA and David H. Hampson Ph. D, Co-Chairs of the AmCham Bulgaria, Public Procurement & EU Funding Advisory Committee.
The document is intended to assist the US Government institutions in the negotiations on the Transatlantic Trade and Investment Partnership (TTIP) between US and EU. The report was highly acknowledged by the U.S. Chamber of Commerce, the U.S. Trade Representative (USTR) office and the U.S. Department of Commerce.
According to the report, the public procurement market in Bulgaria needs to be further liberalized in order to become more open both to U.S. companies who are already pres- ent on the market and to potential U.S. exporting firms.
The Public Procurement law needs to fully implement the latest EU directives on public procurement contracts. Electronic procurement is highly desirable to be introduced in the fastest possible way.
MEMBERSHIP 2013 33 Position Papers
In 2013 AmCham Bulgaria produced a series of position papers on relevant legislative and policy issues with impact on different sectors of the economy. The positions were a product of the collective efforts of the AmCham Committees and members and received support by fellow bilateral chambers.
Letter regarding proposed amendments to the Spatial Planning Act (ZUT)
On January 15, 2013, AmCham Bulgaria submitted a letter to the ministers Lilyana Pavlova, regional development and public works, Nona Karadjova, environment and water, Miroslav Naydenov, agriculture and food, and Delyan Dobrev, minister of economy, energy and tourism, in relation to the proposed amendments to the Spatial Planning Act (ZUT) proposed by the Ministry of Regional Development and Public works. AmCham is of the opinion that some of the proposed amendments can create undue bureaucratic hindrances for the development of economic activities and the execution of important investment projects, and appeals for a wide public discussion engaging all stakeholders.
Position on the Excise Taxation Policy in Bulgaria
On September 23, 2013, AmCham Bulgaria submitted an opinion on the Bill for amend- ments of the Excise Duties and Tax Warehouses Act including the following recommen- dations for improvement of the current taxation framework:
development of a clear, well-planned, and long-term excise taxation policy which will ensure predictable and stable market environment;
introduction of specific tax calendar into the Bill which will outline forthcoming excise changes up to year 2018 thus allowing better predictability and forecasting of mid- and long-term budget revenues for the upcoming five years;
Position on the Bill for Amendments of the Public Procurement Act
On October 3, 2013 AmCham Bulgaria submitted to the Parliament a position paper on the Bill for amendments of the Public Procurement Act (the Bill). While the Chamber recognizes the positive aspects of the Bill, it also draws attention and proposes solu- tions to the most significant and common problems encountered by business represen- tatives from different sectors in the bidding and implementation of public procurement in the country.
Position on the Proposed Increase of Maximum Social Securities Threshold, 2014 Budget Procedure
34 AmCham Position Papers On October 29, 2013, AmCham, together with the British-Bulgarian Chamber of Commerce (BBCC) submitted a position on the proposed increase of maximum social securities threshold from BGN 2 200 to 2 400. In the position, AmCham and BBCC express their concern about the negative trend of constant threshold’s increases and its repercussions, and outline several strong arguments against the proposal for a new increase of the maximum threshold within the 2014 Budget procedure. Among those are the negative impacts of the increase on investments, important economy sectors with high-added value as IT, outsourcing, financing, and consultancy, as well as negative effects on youth employment and the economy as a whole.
Proposals for Improvement of the Financial Health of the Bulgarian Electric System
On December 2, 2013, AmCham Bulgaria submitted to the Council of Ministers and the Ministry of Economy and Energy a position paper on the state of the Bulgarian elec- tric system including proposals and concrete measures for improvement of its financial health.
AmCham Bulgaria is of the opinion that any reforms in the energy sector have to be based on the fundamental principles of transparency, predictability, and sustainability, as well as consultation with all interested parties. The AmCham position was supported and co-signed by Confindustria Bulgaria.
Position on the Bills for amendments to the Labor Code in relation to traineeships
On December 13, 2013, AmCham Bulgaria submitted to the Bulgarian National Council for Tripartite Cooperation, the Ministry of Labor and Social Policy and the related par- liamentary committees a position on the Bills for amendments to the Labor Code in relation to traineeships.
The position has been developed by the AmCham Human Resources Committee and calls for more flexible regulations for the traineeships, which minimize the predicaments for the employers when hiring young people as trainees, and correspond to the needs of the trainees. The proposed changes aim at reducing the gap between the education and business, stimulating youth employment and increasing the competitiveness of young professionals on the labor market.
AmCham Position Papers 35 AmCham Bulgaria: Our speakers
Rossen Plevneliev, Daniela Bobeva-Filipova, President of the Republic Deputy Prime Minister for of Bulgaria Economic Development
Zinaida Zlatanova, Iskra Mihaylova, Dragomir Stoynev, Deputy Prime Minister and Minister of Environment & Minister of Economy and Minister of Justice Water Energy
Ivan Danov, Marcie B. Ries, Matthias Höpfner, Minister of Investment U.S. Ambassador to Ambassador of the Federal Planning Bulgaria Republic of Germany
36 Our speakers Boyko Borissov, Dan Nica, Krasin Dimitrov, Tomislav Donchev, Former Prime Minister of Minister of Information Deputy Minister, MP, the Republic of Bulgaria Society, Ministry of Economy and National Assembly of Romania Energy Republic of Bulgaria
Miglena Pavlova, Joseph Quinlan, Claes Bengtsson, Executive Director, Managing Director & Chief Member of Cabinet of Bulgarian Public Market Strategist, Trade Commissioner Karel Procurement Agency U.S. Trust, De Gucht, Directorate- Bank of America General for Trade, European Commission
Carsten Sorensen, Elena Bryan, Hendrik Bourgeois, Policy Officer, Senior Trade President of AmCham to Trade Relations with North Representative, the European Union and America, Directorate- U.S. Mission to the Vice-president of General General for Trade, European Union Electric Corporation European Commission
Our speakers 37 Garrett Workman, Susan Danger Dan Hylton, Associate Director, Managing Director, U.S. Department of Global Business and AmCham to the European Commerce/Office of Economics, Union General Counsel Atlantic Council, Washington DC
Adam Boltik, Isabelle Maelcamp, Peter Lithgow, International Trade U.S. Mission to the Country Manager of AES Specialist, European Union Corporation and President Trade Compliance Center of AmCham Bulgaria
Rüdiger Höben-Störmer, Daniel Berg, Deborah Campbell, President, Director, Consul General, German-Bulgarian Chamber Bulgaria, European Bank for U.S. Embassy of Commerce and Industry Reconstruction and Development and Vice President of AmCham Bulgaria
38 Our speakers Emily Wolman, Evangelos Lytras, Evgeniy Ivanov, Associate Publisher of Deputy Chairman, Executive Director, Lonely Planet Americas. Hellenic Business Council in Confederation Bulgaria of Employers and Industrialists in Bulgaria
David Butts, Krassimira Chemishanska, Alex Nestor, Managing Partner, General Manager, AmCham Member of the Sofia, Amgen Bulgaria and Board CMS Cameron McKenna AmCham Member of the and AmCham Member of Board the Board
Liam Benham, Milen Raikov, Zlatina Ruseva-Savova, Vice President, Executive Director – Tax, Co-Chair of the AmCham Governmental Programs, EY Bulgaria and Co-chair Public Procurement and Europe, IBM of AmCham Tax Committee EU Funding Advisory Committee
Our speakers 39 Maria Yaneva, George Randelov, Petar Ivanov, Business Development Public Sector Lead General Manager, Public Sector Director, CEEurope, Microsoft Bulgaria EY Bulgaria Microsoft
Atanas Bangachev, David Arkless, Zoya Paunova, Partner, Former President of Country Director, Head of Corporate, Corporate and Government AstraZeneca Bulgaria CMS Cameron McKenna Affairs of Manpower Group Bulgaria
Ligia Popescu, Marija Filipovska, Vera Markova, Partner, K&N Macedonia Chief Expert, Wolf Theiss Romania Programming of EU Funds Directorate, Council of Ministers
40 Our speakers Malina Krumova, Krasimir Simonski, Irena Parvanova, Director of Directorate Executive Director, Director of Directorate “Cohesion Policy for Electronic Communication – Technical Assistance Environment”, Networks and Information Systems, Operational Program, Ministry of Environment Ministry of Transportation, Council of Ministers and Water Information Technologies and Communications
Monica Dimitrova - Georgi Ganev, Lucian Dan Vladescu, Beecher, Programme Director, National Authority for Head of Managing Economic Research, Regulating and Monitoring Authority of Operational Center for Liberal of Public Procurement, Programme Strategies Romania “Administrative Capacity”, Ministry of Finance
As well as:
Metodi Baykushev, Partner, Dimitrov, Petrov & Co. Law Firm
Rumiana Boseva, Country Manager, Aon Bulgaria
Joep Vercauteren, Commercial Director, Aon Risk Solutions Central and Eastern Europe
Magdalena Kustra, Senior Managing Consultant, Aon Hewitt Poland
Beatrice Daniela Nanis, Public Procurement Officer, Ministry of European Funds, Romania
Laurentiu Dinu, Partner, EU Advisors & AmCham Romania EU Structural Funds Committee
Our speakers 41 International Cooperation
Financial Times Investing in Bulgaria Events in the US February 19-26, 2013
AmCham Bulgaria participated in series of events organized by InvestBulgaria Agency in the U.S. in Chicago, New York City, San Jose as well as in Tokyo and Hong Kong. The events aimed at promoting Bulgaria as an investment destination.
Annual Brussels Briefing of AmChams in Europe March 20-22, 2013 Brussels, Belgium
AmCham executive directors from all over Europe gathered in Brussels for their annual briefing to share best practices in creating a suitable climate for the American investment in Europe and define the top priori- ties for business in Europe for 2013. Digital Agenda Priorities, Investment in Healthcare, Transportation and Energy Efficiency Directive by Member States were main topics for discussion during the briefing. Networking meetings took place at the European Parliament with MEPs, national Permanent Representatives, US Mission to the EU personnel and AmCham EU members. The Transatlantic Conference within the Policy briefing took place and focused on the trade, jobs and investment data between the EU and US, as well as on TTIP perspective.
42 International Cooperation Pomorie US Commercial Service Regional Water Trade Mission - Bulgaria, Romania, Moldova April 16-17, 2013
Innovative technologies for water/ waste water in residential, commercial and industrial projects were at focus during a water trade mission and conference in Pomorie. Ten leading U.S. companies applying environ- mentally friendly technologies took part in the trade mission. The event instigated the interest of more than 170 reps of Bulgarian, Romanian and Moldovan water and waste water companies, local partners, representa- tives of the national and local government, private sector companies in need of water/waste water technologies.
Transatlantic Conference in Washington DC and New York June 2-7, 2013
Over 30 participants representing 28 AmChams from across Europe and wider Europe have participated in the annual AmChams in Europe Transatlantic Conference. It was the first time, ACE delegates have trav- elled to both Washington, DC and New York to meet with a number of high level political officials and economic stakeholders. The Transatlantic Trade and Investment Partnership (TTIP) was another prominent topic of discussion and provided the focal point for the roundtable event co- organised with the United States Council of International Business (USCIB) in New York on ‘EU-US Trade & Investment Partnership Negotiations: What’s at Stake for Business?’.
“Transparency in Government Procurement” Conference with US Embassy June 20, 2013
Transparency, lifting of the restricting procedures and launch of online tenders in public procurement in Bulgaria were the main recommenda- tions of the AmCham business and diplomatic community. The forum was organized by AmCham Bulgaria, U.S. Commercial Service in Bulgaria with the support of Bulgaria’s Public Procurement Agency. Officials, law- yers, and business reps from Bulgaria, Romania, Macedonia, and USA shared views and experience on the public procurement.
International Cooperation 43 AmChams in Europe Summer Training in Slovenia August 21-23, 2013
AmCham Slovenia invited a dozen of AmChams to the naturally beautiful Bled resort to host the annual summer training meeting in August 2013 where the chambers shared best practices within the chambers’ network. AmChams of Austria, Bulgaria, Czech Republic, Hungary, Macedonia, Montenegro, Poland, Serbia, and Slovakia gathered to elaborate on best events organized by each AmCham in 2012, how to provide more ser- vices to their members, ways to retain members, modern communication tools and AmCham regional cooperation. The chambers tried to identify positive experiences and challenges in their every day work.
AmChams in Europe European Best Practices Conference Finland & Estonia 18-20 September 2013
AmCham executive directors from all over Europe gathered to share best practices and to meet with representatives of US embassy to develop closer partnerships, especially to drive the transatlantic partnership. Other topics for discussion were engaging the local start up community and universities in order to drive innovation and bridging the talent gap – the European dilemma.
44 International Cooperation Financial Report 2013 BUDGET 2014
COMPARATIVE ANALYSIS BUDGET 2013-2014
Total Total Total Budget 2013 Actual 2013 Budget 2014
INCOME Mem. Fees Current members 533,000 517,486 560,000 Mem. Fees – New members 23,000 40,616 23,000 Events 450,000 342,875 350,000 AmCham Publications 100,000 94,431 100,000 TOTAL BGN: 1,106,000 995,408 1,033,000
EXPENSES Events 420,000 295,677 300,000 AmCham Publications 100,000 99,491 100,000 Salaries and Bonuses 342,000 327,302 395,000 Other administrative costs 230,000 251,709 223,000 TOTAL BGN: 1,092,000 974,179 1,018,000
SURPLUS (DEFICIT) 14,000 21,229 15,000
Financial Report 2013 45 AmCham Bulgaria Publications in 2013
Investors’ Brochure “United States and Bulgaria: Building Bridges through Business” 2013 – a guide for the “Investing in Bulgaria” Events that took place in February in the US.
Brochure TTIP Agreement: Bulgaria’s Perspective that was distrib- uted during the Forum on The Transatlantic Economic Cooperation for Competitiveness and Growth held on October 24th 2013.
5 issues of “Visit Europe” guide bi-monthly – online tourist guide of AmCham-s Central and Eastern Europe. AmCham Bulgaria members put forward services and events to the regional AmCham members through the AmCham network.
10 issues of AmCham Bulgaria Magazine Monthly The official monthly publication of the American Chamber is a primary forum for political and economic analyses, highlighting of business oppor- tunities and AmCham-related news. Every month 2,000 copies reach AmCham members, leading Bulgaria companies, business centers, interna- tional hotel chains, the U.S. Embassy and the other diplomatic missions as well as the AmCham international network.
AmCham Bulgaria Yearbook The AmCham Yearbook is up-to-date and sophisticated business guide. It is a valuable reference guide for both current members and potential members with an active interest in the Bulgarian market.
AmCham Daily News Every morning AmCham members receive a summary of the local news highlighting recent developments in the world of business, politics and international relations.
AmCham Bulgaria Website On www.amcham.bg you can find detailed information about the American Chamber of Commerce – activities, list of members, upcoming events and announcements, reports, Chamber’s committees, media cover- age and archive of past events.
Annual AmCham Bulgaria Report 2012 AmCham annual report is an assessment of the Chamber’s activities, lob- bying, regional cooperation, finances and publications.
46 Bulgaria Publications in 2013 AmCham Bulgaria In the Media in 2013
In 2013 the events, activities and ini- tiatives of AmCham Bulgaria were cov- ered and quoted over 300 times with thousands of views per page in the Bulgarian TV stations, press, Internet media, and radio. AmCham gave many interviews for the Bulgarian media. In particular wide scale media inter- est was drawn on several occasions: 1. Business Luncheon with Boyko Borissov, then-Prime Minister of the Republic of Bulgaria, January 29th, 2013 2. Conference “Transatlantic Economic Cooperation for Competitiveness and Growth. TTIP Agreement: Bulgaria’s Perspective”, Oct. 24, 2013 3. Thanksgiving Charity Dinner, Nov. 25th, 2013 4. AmCham Business Brunch with Dragomir Stoynev, Minister of Economy and Energy, December 14th, 2013 5. Spring and Autumn Volunteer Days
Media reports appeared in: TV channels: BNT, bTV, Nova TV, Evropa TV, TV 7, TV+; Economy.bg TV, Bulgaria on Air TV Radio&Internet media: Bulgarian National Radio, Darik Radio; Radio Focus; Econ.bg, BGNES, BTA; Novinite. com; Dnevnik online, The Sofia Globe, Dir.bg, Actualno.com; Press: Capital Daily and Weekly, Klasa, Sega Daily, Pressa, Bulgaria Today, Politika, Trud, 24 Chasa, Monitor, Standard Daily, Telegraph, Stroitel Newsp., Gradat Media Group, b2b Magazine, Economy Magazine, ICT magazine
In the Media in 2013 47 Bulgaria's Min: Public Procurement Must Not Be Awarded to Same Few Cos - Novinite.com - Sofia News Agency
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Драгомир Стойнев: Няма по-модерна защитна технология от тази на УестингхаусTHE SOFIA MORNING NEWS NOVINITE.COM'S FREE DAILY NEWSPAPER 14 декември 2013 15:38 | Вили Янкова e-mail SUBSCRIBE Stoynev participated Thursday in a regional conference on transparency in government procurement organized by the US Embassy in Bulgaria. Photo by BGNES » Subscribe for news alerts for your keywords
Dragormir Stoynev, Minister of Economy and Energy, has argued that it is not normal for an EU Buzz Member State to have public procurement deals in a certain sector won by a circle of companies. Stop Protecting the 'Unknown Perpetrator'
Speaking during a regional conference on transparency in government procurement organized Is Siderov Liable, Immune, or Untouchable? by the US Embassy in Bulgaria, Stoynev emphasized that it was essential to eliminate corruption in the sphere as public procurement was a major means of accessing financial resources in times of economic crisis. Personality in the News 2013
Stoynev, as cited by the BGNES news agency, suggested that there was a problem with Novinite Readers in Bulgaria Operational Program "Competitiveness" which was being frowned upon by Bulgarian and Abroad Pick Together 2013 Personalities businesses despite the fact that it was well-made, sounded good, and was very likely to be
http://www.novinite.com/view_news.php?id=151407[09/01/2014 4:37:43 PM]
© Sofia Photo Agency
Министърът на икономиката, енергетиката и туризма Драгомир Стойнев се срещна с представители на Американската търговска камара. Той изрази надежда добрите политически взаимоотношения между България и САЩ да се превърнат в база за активно икономическо сътрудничество.
На срещата министър Стойнев обясни мотивите за избора на технологията на американската компания „Уестингхаус" за изграждане на 7-ми блок на АЕЦ „Козлодуй" без търг: „Ако има търг за технология, това означава, че се обрича следващото поколение български граждани с дългосрочен договор. Аз не искам да има дългосрочен договор. Търг за технология означава, че НЕК ще изкупува през следващите 60 плюс 20 години удължаване живота на този реактор - 80 години, произведената електроенергия".
Министърът отново подчерта, че ще има търг за строителството. Драгомир Стойнев за пореден път заяви, че няма по-модерна защитна технология от тази на
48 In the Media in 2012 AmCham, Confindustria urge Bulgaria to pursue energy reforms | The Sofia Globe
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AmCham, Confindustria urge Bulgaria to pursue energy reforms
Written by The Sofia Globe staff on December 10, 2013 in Business - No comments
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The American Chamber of Commerce (AmCham) Bulgaria and Confindustria Bulgaria have called on the Bulgarian Government to implement reforms that would improve the financial health of the country’s energy Editor's Pick Popular Recent Tags sector.
Bulgaria in 2013: An ‘Annus In a joint position paper, the two chambers of commerce said that “the energy system has been a cause of Horribilis’ in pictures significant concern during the past few years and failure to address major ‘shortcomings’ is having substantial January 6, 2014, by Clive Leviev- negative impacts on the economy – both for producers and for residential and corporate consumers, while also Sawyer harming Bulgaria’s investment climate.”
Bulgaria’s economy in 2013: The state-owned electricity utility NEK was affected the worst by the misbalances in the energy sector, but its Treading water financial crisis cannot be solved by applying ad hoc, isolated measures, such as the grid access fees imposed on January 6, 2014, by Alex Bivol renewable energy producers last year, or the fee on the renewable energy feed-in tariff, approved by Parliament last week, the chambers said. The Sofia Globe during the Festive Season
Bulgaria’s efforts to meet EU targets on renewable energy generation have led, in recent years, to a quick December 20, 2013, by The Sofia Globe staff expansion of the sector, swelling electricity supply well beyond domestic demand (to the extent that it strained the power grid’s ability to function) and also straining the finances of NEK (with most of the government efforts to redress the situation focusing on pushing the financial burden off NEK onto the private sector). Can Ukraine’s two nations stay under one roof?
http://sofiaglobe.com/2013/12/10/amcham-confindustria-urge-bulgaria-to-pursue-energy-reforms/[09/01/2014 5:05:57 PM] In the Media in 2013 49 Президентът: Търговското споразумението между ЕС и САЩ ще подобри живота на 800 млн. души - trud.bg
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24.10.2013 13:18 | ǷȖȓȐȚȐȒȈ Харесва ми 9 7ǸǻǬ
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ǸȖșȍȕǷȓȍȊȕȍȓȐȍȊȗȘȍȌșȚȈȊȐȉȢȓȋȈȘșȒȈȚȈȗȖȏȐȞȐȧȒȖȧȚȖȍȊȗȖȌȒȘȍȗȈȕȈȌțȝȈȐȞȍȓȐȚȍȕȈ ǴȢȋȓȈȚȈȕȖșȐȚȍȔȗȍȘȈȚțȘȕȐ ǹȗȖȘȈȏțȔȍȕȐȍȚȖȐȖȗȘȍȌȍȓȐȗȘȍȋȖȊȖȘȐȚȍȔȍȎȌțǭǹȐǹǨȁȒȈȚȖȘȍȠȐȚȍȓȕȈșȚȢȗȒȈȊ ȘȈȏȓȐȒȐȖȚȌȖ șȚȘȈȚȍȋȐȟȍșȒȖȚȖȚȘȈȕșȈȚȓȈȕȚȐȟȍșȒȖȗȈȘȚȕȤȖȘșȚȊȖ 50 In the Media in 2013 ÄDzȈȚȖȍȌȕȈȖȚȌȢȘȎȈȊȐȚȍșțșȚȖȑȟȐȊȐȜȐșȒȈȓȕȐȗȖȒȈȏȈȚȍȓȐȐȐȒȖȕȖȔȐȟȍșȒȐȘȢșȚȗȘȍȏȗȖșȓȍȌȕȐȚȍ ǴȈȌȎțȓȐȕȈȑȋȖȓȍȔȐȧȚ ȋȖȌȐȕȐȗȖȌȒȘȍȗȧȔȍȊșȍȒȐȖȗȐȚȏȈșȚȐȔțȓȐȘȈȕȍȕȈȐȒȖȕȖȔȐȒȈȚȈȖșȖȉȍȕȖȒȖȋȈȚȖȞȍȕȈȚȈȍ ȖșȚȘȖȊȊșȓȈȌȒȖȊȖȌȍȕȉȈșȍȑȕ ȖșȊȖȉȖȎȌȈȊȈȕȍȚȖȕȈȉȐȏȕȍșȈȖȚȉȦȘȖȒȘȈȚȐȟȕȐȚȍȗȘȍȟȒȐǻșȗȍȝȢȚȕȈȗȘȍȋȖȊȖȘȐȚȍȉȐțȊȍȓȐȟȐȓ ȊșȊȍȚȈ ȈȔȍȘȐȒȈȕșȒȐȚȍȐȕȊȍșȚȐȞȐȐȊǩȢȓȋȈȘȐȧȏȕȈȟȐȚȍȓȕȖȡȍȕȈȘȈșȕȍșȚȖȒȖȖȉȔȍȕȢȚȐȚȢȘȋȖȊȐȧȚȈșȢș șȚȖȒȐȐțșȓțȋȐȖȚȌȊȍȚȍșȚȘȈȕȐȕȈǨȚȓȈȕȚȐȒȈȁȍȉȢȌȈȚșȢȏȌȈȌȍȕȐȐȔȕȖȋȖȕȖȊȐȘȈȉȖȚȕȐȔȍșȚȈ ȗȖșȖȟȐȗȘȍȏȐȌȍȕȚȢȚ ǪǹǹȖșȊȖȉȖȌȐǩȖȑȒȖǸȈȠȒȖȊ ȒȈȚȖșȓȍȌȖȊȈȚȍȓ
http://www.trud.bg/Article.asp?ArticleId=2390496[09/01/2014 4:34:35 PM] Audit Report 2012
Audit Report 2012 51 52 Audit Report 2012 Audit Report 2012 53 54 Audit Report 2012 Thank you Letters
Thank you Letters 55 56 Thank you Letters American Chamber of Commerce in Bulgaria
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