AMCHAM BULGARIA YEARBOOK 2018 2018 YEARBOOK AMCHAM With the right resources I can reach anywhere. My International Center • Book fully equipped offices • Expand your B2B Network • Promote your products • Host your events • Manage your bank operations +359 2 930 9662, Internationalcenter.bg [email protected], 8 Aksakov str., Sofia 1000, Bulgaria T BANK A ES W B A R D 2 0 1 7 ITAL B IG AN D K T S A E W B A R D 2 0 1 7 2017/2018 We are AT HOME WORLDWIDE Content Message from the Executive Director 10 Address from the AmCham Bulgaria President 11 Letter from H E Eric S Rubin, U S Ambassador to Bulgaria 13 Letter from Miguel A. Hernandez, Senior Commercial Officer 14 23 Years Speaking for the American Business in Bulgaria 16 10 Benefits of Being a Member ofAmCham Bulgaria 17 AmCham Bulgaria Board of Directors 2018 18 AmCham Bulgaria Team 19 AmCham and Partners’ Events for 2017 20 Events 2017 - Highlights 21 2017 AmCham Bulgaria Advocacy Activities 29 Transatlantic Economy – Highlights 31 Here and There: The U S – Bulgarian Investments 32 2017 Country Commercial Guide – Bulgaria 33 The U S Investments in Bulgaria are in sectors with high added value 36 Bulgaria’s Economy in Q3/2018 38 Key Indicators for Bulgaria 42 AmCham Bulgaria Members Branch List 46 Membership Development by Type and Category 52 Your new meetings & conference venue in the heart of Rila mountain, just an hour from Sofia › 522 spacious rooms, of which 310 new elegant SUPERIOR rooms & suites › 8 multifunctional conference halls with capacity from 10 to 700 delegates › Ballroom Rila with a private lobby, bar and terrace › State-of-art AV facilities › Tailor-made catering Hotel Rila, Borovets | 0750 32 658 | [email protected] | www.rilaborovets.com | events.btcollection.com Editorial Message from the Executive Director Dear AmCham Members, Dear Friends, One of the most important communication tools is in your hands The content of each AmCham Bulgaria Yearbook shows the scale and the impact of our work in the previous year Also, it an absolute evidence of our strong mem- bership, of our commitment to achieve our priorities, and to demonstrate the values that unite us I really hope you like it Not only because of the glittering paper, and the huge volume But because of the content and the design With the Yearbook we want to show the positive change that is happening in the Chamber so far Indeed, it is a long process in which little steps in the right direction are crucial As you know each member has their place in the yearbook with a short profile, contacts and logo and – if decided – with an ad In those dynamic times we live in, maintaining regular contact with AmCham is challenging task We are investing a lot of efforts to stay closer to our membership, and we strive for more Thus, I see the Yearbook Campaign as an important step towards in- creasing the quality of communication between the office and the membership, to realize what are their priorities, and how we can combine knowledge and resources to achieve our long-term common goals It won’t be possible if we don’t have the support of our members and sponsors Thank you for your contribution to the success of the Yearbook 2018 Now it is time to leave you with it, and please don’t expect me to paraphrase its content. You will find what you are looking for in the well-known pages, and probably you will like the design, the photos, and the texts And I am certain that this product served its purpose well Enjoy the Yearbook 2018! Sincerely, Petar T Ivanov YEARBOOK 2018 10 AMERICAN CHAMBER OF COMMERCE IN BULGARIA Address from the AmCham Bulgaria President Dear AmCham Bulgaria members, Partners, Friends, and Fellows, It is my honor to present you the 2018 AmCham Bulgaria Yearbook This unique product highlights our last year’s achievements and agenda Indeed, 2017 was a very dynamic and full of changes for the Cham- ber Since May the new-appointed Executive Director Mr Petar T Ivanov showed passion, dedication, and energy to fit in his new role and to deliver For a short period of time he adapted in the director’s helm and with the support of the Board of Directors made tremendous changes with positive impact for the organization His activities were vital for the maintaining of excellent relations with government officials, business organizations and leaders Also, he led the changes of the staff of the Chamber and he succeeded in finding talented people for key areas of Chamber’s work In the Fall the Board approved major changes of the Statute, thus increasing transparency in the nomination and the election process of the Board Members It allows the membership to have more sight of the esteemed candidates about their priorities, personal skills, and their values For securing the majority representation of the American Companies in the Board, important paragraphs were incorporated too In our strategic planning and execution last year we followed the 2017 White Paper guidelines The Paper marks our аctive involvement in the improvement of the economic and business climate in Bulgaria. AmCham key initiatives and events in 2017 are in line with the priorities focusing on policy and legislative activities for improvement of the regulatory environment and business climate In April together with AmCham EU organized “EU Single Market: Achievements and Challenges Ahead conference At which we discussed the importance of the EU Single Market and its positive impacts for businesses and society, as well as covered topics such as the challenges to the EU in the rise of populism and protectionism, and the migration crisis On June 1, 2017 we organized the E-gover- nance, E-health, E-procurement Forum with which once again AmCham wanted to stress the importance of quality and large-scale digital transformation of the public services in Bulgaria Again, the topic of the digitalization was covered by a high-profile event: CEO Conference: Europe at the Forefront of the DigitalTransformation, where business leaders shared their views about the future of digital technology in the Old Continent One of our key-events in 2017 was Judicial Reform: The Voice of Business Conference, jointly organized with Confin- dustria Bulgaria & The British Bulgarian Business Association In a fourth year now, we emphasized on the importance of the rule of law and business ethics versus corruption and grey economy Last but not least, the AmCham Events Calendar included two of our “event brands” which gather our community in a YEARBOOK 2018 11 AMERICAN CHAMBER OF COMMERCE IN BULGARIA festive and meaningful gatherings – Independence Day Celebration, and the Thanksgiving Charity Dinner combined efforts to unite friends and fellows, and to collect funds for noble causes. In 2017 we continued to strengthen and to develop the relationships among the leading organizations of the American Community in Bulgaria, which includes the U.S. Embassy in Bulgaria, the U.S. Foreign Commercial Service in Sofia; The America for Bulgaria Foundation, The American University in Bulgaria, The Fulbright Exchange and Education Commission, The American College in Bulgaria Also, we worked together with other business organizations and bilateral chambers, among them are: the Bulgarian Chamber of Commerce and Industry, the German-Bulgarian Chamber of Industry and Commerce, Confindustria Bul- garia the French-Bulgarian Chamber of Commerce and Industry Wise people say that each team is that strong as strong is their weakest member In our case it means that AmCham is strong to the level of engagement of the most disengaged and demotivated members Indeed, it will be rather strange to have all members interacting with the Chamber daily The vision of the Board is to increase membership engage- ment through improved and regular communication, regain their trust, and defend their interests One-to-one meetings are essential for creating and developing relationships Also, in the digital times AmCham maintains its communication platform and strives to charge it up with exclusive content Our website turns to be the focal point of positive member news and analysis. They are shared to the AmCham Community via our weekly e-newsletter and via our profiles in LinkedIn and Twitter. Thus, AmCham is fulfilling its design as a network and media altogether. Which can generate added value with more opportunities for members to prospect products, services, and case studies This is my last address as the President of the American Chamber of Commerce in Bulgaria As you know the Board decided to extend the term of the Board with 18 more months in order to manage and lead the organization when the changes of the Statute are adopted For me these were fascinating 5+ years to participate in the development of the Chamber, to invest efforts in making it a better organization, and to fulfill our mission. It is sad but satisfactory as well. My serve as President enrich me a lot, and hope that I contributed to the success of the organization At the end I would like to thank each and everyone involved in our work in 2017 and the Yearbook: our outstanding members, my colleagues in the Board, our partner organizations and the proficientAmCham Team. Your contribution, passion, and inspiration shape the overall organization and our projects, events, and positions reaffirms our reputation to our community, to the institutions, and the society Sincerely yours, Dr. Krassimira Chemishanska President (2015-2018) American Chamber of Commerce in Bulgaria YEARBOOK 2018 12 AMERICAN CHAMBER OF COMMERCE IN BULGARIA Letter from H.E. Eric S. Rubin, U.S.