Amcham Bulgaria Yearbook

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 K AWAR BANK A AN D AL W B 2 T A 0 I R T G 1 I D S 7 D 2

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1 S

7 E B

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 membership, 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 increasing 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

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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-governance, 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

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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 engagement 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

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Letter from H.E. Eric S. Rubin, U.S. Ambassador to Bulgaria

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Dear AmCham Members,

I recently arrived in Bulgaria to start a four-year assignment at the U.S. Embassy. I prepared for this job by studying the Bulgarian culture and language in Washington, DC, for almost ten months.

In addition to studying grammar, I also read Bulgarian literature and even memorized Ivan Vazov’s classic poem, “Аз съм българче и силна/майка мене е родила.” Part of my training also involved eating delicious Bulgarian cuisine like таратор, луканка, баница, гювеч и чевереме. Moreover, I hear that if I eat yoghurt (лактобацилус българикус) every day, then I can live until I’m 100 years old!

In just my first four months here, I have seen the important partnership between AmCham and the U.S. Embassy. It’s important to recognize the AmCham and U.S. Ambassador Eric Rubin’s leadership roles and contributions for the initiatives below. The AmCham set the positive tone for working with the Bulgarian government during its traditional Business Breakfast with the Prime Minister Boyko Borissov and members of the government.

At the event, the AmCham highlighted the recent research which revealed that U.S. foreign investment in Bulgaria is worth at least 2.5 times higher in real value than previously reported. Moreover, the Prime Minister acknowledged the importance of U.S.-Bulgarian relations and gave a positive evaluation of Am- Cham’s efforts in developing these ties.

The AmCham also assisted with the first ever 20-person Alabama trade mission led by the Secretary of Commerce Greg Canfield. The seven U.S. companies participating in the mission had 40 appointments

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scheduled with potential Bulgarian representatives, agents, and partners as well as with Bulgarian industrial and business associations. We then organized a networking reception with over 150 attendees where the new key officers of the Embassy were introduced to the AmCham membership.

Security and defense cooperation is at the very core of our bilateral partnership with Bulgaria.

The AmCham also supported Lockheed Martin’s participation in the multirole fighter competition here in Bulgaria. As U.S. Ambassador Eric Rubin remarked at an AmCham Business Lunch discussing the topic “Fostering the U.S.-Bulgaria Strategic Partnership, Lockheed Martin’s new F-16 Block 70 is best suited for the Bulgarian Air Force.”

The AmCham continued to set a good example for its corporate social responsibility programs. For example, the AmCham collected BGN 46,500 during the traditional Thanksgiving Charity Dinner. The main goal is to raise funds for the Get Ready to Succeed Fund of the Bulgarian Charities Aid Foundation. Since its launch in 2006, the fund has awarded 1,250 annual scholarships worth over BGN 1.9 million to orphaned students with excellent performance in secondary schools and universities.

I look forward to my next four years in Bulgaria!

Best regards,

Miguel A. Hernández

Senior Commercial Officer

Foreign Commercial Service

U.S. Department of Commerce

U.S. Embassy, Sofia

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23 Years Speaking for American Business in Bulgaria

Over 350 members

Part of 44 AmChams throughout Europe and Eurasia (Member of AmChams in Europe)

11 Committees Promoting Modern Legislative Framework Based on Best International Practices

Affiliate of U.S. Chamber of Commerce

Platform for Dialogue with Government

Our 2018 Priority Areas Digitalization Human Capital Development eGovernance Future of Work Cyber Security Digital Education and Skills Industry/IoT Financial Entrepreneurship Data Protection & e-Privacy Educational Reform (+ Dual Education)

Entrepreneurship and Economic and Rule of Law & Stronger Innovation Business Environment Law Enforcement Cooperation with Improvement Western Balkans

2018 Key Initiatives Communication Platform:

Regulatory Environment and Business Climate n Weekly E-bulletin

Improvement n Yearbook 2018

Meetings with the Government n Annual Work Report

B2B Meetings & Networking American Chamber of Commerce in Bulgaria

Regional Business Missions @ AmCham Bulgaria

Social Causes @AmchamBulgaria

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10 Benefits of Being a Member of AmCham Bulgaria

1. The voice of American business in Bulgaria AmCham Bulgaria is a non-profit organization and is one of the largest business organizations in the country. We actively support our members’ interests through events, publications, internal and external meetings, etc.

2. Charming Reputation For more than 23 years AmCham Bulgaria leads by example combining American and Bulgarian best practices in business leadership, institutional dialog, and members’ development.

3. Excellent Members of All Sizes and Sectors AmCham Bulgaria blends a unique mix of American, multinational, and Bulgarian companies with excellent reputation that strive doing business in the country, invest in communities, and support the improvement of the economic environment of Bulgaria.

4. Membership Participation and Knowledge-Sharing We are designed to serve our members. Our strength springs from their knowledge, expertise and motivation to share. These are vital foundations for achieving our priorities, and thus the circle: serving to members – utilizing their know-how – gain benefits for all.

5. Policy Expertise With 11 policy committees, and several working groups, AmCham Bulgaria develops and delivers clear, tangible, and content- wise policy recommendations.

6. Advocacy We maintain and remain in close and constant contact with political stakeholders in Bulgaria and try to maintain such at Euro- pean level through the network of the AmChams, as well as develops the relations with the U.S. Chamber of Commerce.

7. B2B Events & Networking AmCham is platform for business development of various sectors. Our events are excellent occasions for expanding members’ networks, socializing, and upgrade of knowledge.

8. Business Guidance We know our members, we monitor the overall business environment, and we can clearly read the political and economic spheres. Thus, we can provide guidance to our members, and to new comers and try to mitigate their risks and expand their profitable exposure.

9. European and Transatlantic Connections We are active member of the American Chambers in Europe as well as we partner with AmChamEU at pan-European level. The quality exchange includes latest legislative changes that been cooked in Brussels, best practices sharing, and positioning. Also, traditionally we receive updates from the U.S. Chamber of Commerce and provide feedback on recent developments.

10. Media AmCham is a network but also a media. We communicate with our membership at one-to-one meetings, electronically, and via social channels. Our Weekly e-Bulletin provides positive members news, strategic content and analysis, as well as members offers and exclusive events.

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AmCham Bulgaria Board of Directors 2018

President Vice President Treasurer Dr. Krassimira Mr. Sergey Ms. Stanislava Chemishanska Koynov Taneva Country Director, Forton Citi Country Of- Amgen Bulgaria International ficer & Corporate Banking Head, Citibank Europe plc, Bulgaria Branch

Olivier Dr Solomon Mr. Plamen Marquette Passy Zhechev President, President & Cisco Systems AES Bulgaria Founder, Bulgaria and Head of Atlantic Club Business Bulgaria Development Eurasia

Mr. Iravan Hira Mrs. Iva Mrs. Zlatina Hewlett-Packard Todorova Ruseva-Savova Enterprise Government and Individual Bulgaria Regulatory Member Affairs Executive, IBM Bulgaria

Mr. Stoyan Mr. Ivaylo Mr. Lyubomir Ivanov Slavov Minchev The Coca-Cola CEO, BULPROS Founder and Company Chairman of the Bulgaria Board, Telelink

Ex-Officio Member Miguel A. Hernandez Senior Commercial Officer, U.S. Embassy in Bulgaria

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AmCham Team

Ms. Nadezhda Vakareeva Mr. Petar Ivanov Business Development Executive Director and Event Manager [email protected] [email protected]

Mr. Daniel Kiryakov Communications Ms. Bilyana Petrova Manager Chief Accountant [email protected] [email protected]

Ms. Iva Pavlova Ms. Vessela Blagova Committee Manager Business Development [email protected] Expert [email protected]

Ms. Nadya Lazarova Policy and Legislative Ms. Maria Tumpalova Adviser Administrative Assistant [email protected] [email protected]

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Directors Board of Directors   Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors  E-governance, E-procurement, E-health Forum Board of Directors Board of Directors   June 1 Board of Directors   Board of Directors Board of Directors  Board of Directors   Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors  Board of Directors    Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors Board of Directors  Board of Directors    Board of Directors Board of Directors  Board of Directors Board of Directors   “Judicial Reform: The Voice of Business Conference Board of Directors   Board of Directors June 8 Board of Directors  Board of Directors   Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors Board of Directors with Confindustria & BBBA”  Board of Directors  Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors  Board of Directors    Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors Board of Directors  Board of Directors    Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors Board of Directors  Board of Directors    Board of Directors Board of Directors  Meet New Members Party Board of Directors Board of Directors   June 14 Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors  Board 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Education with German, Austrian and Swiss Chambers Board of Directors Board of Directors  September 27 Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors Board of Directors  Board of Directors    Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors  Board of Directors  Board of Directors   Board of Directors Board of Directors   Board of Directors Board of Directors   CEO Conference: Europe at the Forefront of the Digital Board of Directors Transformation   Board of Directors October 2 Board of Directors Board of Directors  Board of Directors Board of Directors    Board of Directors  Board of Directors Board of Directors   Board of Directors   Board of 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Board of Directors Board of Directors Board of Directors   Board of Directors Board of Directors     Board of Directors Board of Directors Board of Directors  Board of DirectorsWITH H.E. ERICBoard of Directors RUBIN   Board of Directors    Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors     Board of Directors Board of Directors Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directors  Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors     Board of Directors Board of Directors Board of Directors Board of Directors   Board of Directors Board of Directors     Board of Directors “I am an optimist,” with these words Board of Directors H.E . Eric ment in Bulgaria Board reached of Directors USD 1 bn in the past   Board of Directors Board of Directors   Board of Directors   Board of Directors  Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors  Rubin, U.S. Ambassador in Bulgaria, opened four years. Today these companies provide not   Board of Directors Board of Directors Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directors  the AmCham Business Lunch on March 2, Board of Directors only jobs and build the economy Board of Directors - they directly  Board of Directors Board of Directors   Board of Directors Board of Directors     Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors  2017 at the Sofia Hotel Balkan. The Ambassa- invest in Bulgarian communities.   Board of Directors Board of Directors Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directors  dor spoke before a 120 people on the pros- Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors     The Ambassador thanked Board AmCham of Directors for fa- Board of Directors Board of Directors Board of Directors   Board of Directors pects for U.S.-Bulgarian economic relations . Board of Directors Board of Directors    Board of Directors Board of Directors  Board of Directors Board of Directors cilitating the business relationships between  Board of Directors Board of Directors   Board of Directors   Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors   Mr. Rubin wants to see young people stay Bulgaria and the USA. Board of Directors  Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors     Board of Directors Board of Directors in the Board country of Directors and see others who have left Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directors  Board of Directors Dr. Krassimira BoardChemishanska, of Directors AmCham Presi-   Board of Directors Board of Directors   Board of Directors Board of Directors   come back, start new businesses, and help Board of Directors   Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors   dent presented the Chamber’s 2017 White Board of Directors   Board of Directors Board of Directors  shape our country’s Board of Directors future . “In Bulgaria the US Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directors  Board of Directors Paper with strategic recommendations Board of Directors to the  Board of Directors Board of Directors   Board of Directors Board of Directors  companies have invested millions of dollars in   Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors   government focused on three areas: sustain- Board of Directors   Board of Directors Board of Directors  community centers, in Boardenvironmental of Directors conser- Board of Directors   Board of Directors Board of Directors   Board of Directors Board of Directors   Board of Directors   Board of Directorsable economic and business environment, Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors  vation, in education, and in healthcare, serving Board of Directors   Board of Directors Board of Directors  Board of Directors Board of Directors   Board of Directors Board of Directors   human capital development, rule of law. 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Board of Directors 2017 Events on Focus

EU SINGLE MARKET: ACHIEVEMENTS AND CHALLENGES AHEAD

AmChamb Bulgaria partnering with the EU-intra trade in goods. However, the country AmCham EU organized EU Single Market: is still lagging behind in trade of services and Achievements and Challenges Ahead Confer- there is a room for further improvement. It ence (April 20, 2017). It showcased the impor- was presented by Antonio Amendola, CEO of tance of the EU Single Market (ESM) and its International External Affairs, AT&T, VC of the positive impacts for businesses and society. ESM Task Force, AmCham EU. A specific rec- Оther topics were discussed too such as the ommendation to Bulgaria is to strengthen the rise of populism and protectionism, pressures capacity of the Public Procurement Agency, to disintegrate, migration crisis. and to improve the design and control of public tendering procedures. “The achievements of the ESM, uniting 500 million people, are indisputable, but it is impor- A variety of EU-related topic focused the tant for business to see a long-term perspec- interventions from Ognyan Zlatev, Head, EC tive”, said Dr. Krasimira Chemishanska, Am- Representation in Bulgaria, Andrey Kovatchev, Cham President at the opening. “We believe MEP, EPP Group, and Marianne Drain, Com- that a stable government and more European mercial Officer, U.S. Mission to the EU, Brus- integration are a must if we want to achieve a sels, Daniel Smilov, Program Director, Center predictable political environment in Bulgaria. for Liberal Strategies, Lubomir Ganchev, AmCham believes Bulgaria’s stable macro- Deputy Minister of Economy in the Caretaker economic indicators are not the main factor to Government, Milen Raikov, Partner, Tax & attract more FDIs and corruption and proper Law EY Bulgaria, Ivanka Djoleva-Minioti, Area law enforcement remain significant obstacles Manager Corporate & Government Affairs CEE both to businesses and citizens.” & SCE, Mondelez Europe Services GMBH. According to the study The ESM: Impact on Conference broght some optimism that the Member States Bulgaria is quite well integrat- populist trend has reached its peak and awak- ed in the EU and has very good indicators for ening of the EU citizens is at the forefront.

AMCHAM BULGARIA | YEARBOOK 2018 22 AMERICAN CHAMBER OFEVENTS 2017 COMMERCE EventsAT FOCUS on IN Focus lBULGARIA 2017 l YEARBOOK 2017

E-GOVERNANCE | E-PROCUREMENT | E-HEALTH FORUM

“E-governance is a strategic priority for the care Forum organized jointly with the U.S. government and investment in it is a factor for Commercial Service in Bulgaria. Karanikolov economic growth and an opportunity for our believes that e-Government will improve the economy to become more competitive,” said administration work and allows people and the Minister of Economy Emil Karanikolov at businesses reduce red tape. the E-Governance, e-Procurement, e-Health- The forum was attended by Rosen Zhelyaz- kov, Chair, State e-Government Agency; Niko- lay Petrov, Minister of Healthcare; Rumyana “Our strategic objectives are Bachvarova, Chief of Staff of the Prime Minis- ter’s Office; Martina Strong, Chargé d’Affaires, achievement of sustainable business U.S. Embassy in Bulgaria, lots of business people and public servants. environment, improvement of investment climate and quality of life in the country.” Dr. Krassimira Chemishanska, President, AmCham Bulgaria.

AMCHAM BULGARIA | YEARBOOK 2018 23 2017 Events on Focus

AmCham Hands Out 2017 White Paper

Petar T. Ivanov, AmCham Executive Director place for investment, development of start-ups, handed out 2017 AmCham White Paper to and innovations,” Ivanov said. Minister Karanikolov with recommendations to Martina Strong highlighted the important role the Government for а better economic environ- of the 22-years of partnership with AmCham ment. for achieving higher economic growth, pros- “We presented the White Paper to major politi- perity and better life for Bulgarian people. The cal parties prior the parliamentary elections. introduction of e-Governance would be crucial The challenge is to implement the measures. for Bulgaria’s economy ensuring transparency We hope that Bulgaria will become a good and openness of government’s work.

More about 2017 AmCham’s Events on https://amcham.bg/events-overview/past-events/

AMCHAM BULGARIA | YEARBOOK 2018 24 2017 Events on Focus

JUDICIAL REFORM: THE VOICE OF BUSINESS CONFERENCE

The reform in the judi- Some of the expectations of business include cial institutions should an effective judicial system to create trust “There should continue to ensure full among the investors, better healthcare, and independence, as well better infrastructure. Also, winners at public be accountability as better accountability procurement tenders shall be best competi- and public control of tors, not men with best connections. There is and control of the both the Courts and the also a need of continuity in policy making and Prosecution, experts proper communication with citizens. Business- agreed at The Judi- es see the rule of law, fast and efficient law prosecutor general,” cial Reform: the Voice enforcement as the most important features of Petya Kolcheva, of Business Forum. the judicial reform. Kolcheva, Smilenov, Koev and Partners AmCham Bulgaria, the law firm British-Bulgarian Busi- ness Association, and Confindustria Bulgaria jointly organized the “Slow justice forum together with Law Department of The Sofia University. means no justice at Bulgarian, Romanian, and U.S. lawyers were unanimous that e-justice and modern law edu- all.“ cation are crucial to the success of the reform. Emma Hopkins, OBE, UK Ambassador to It leads to increased investor confidence and Bulgaria economic development of the country.

AMCHAM BULGARIA | YEARBOOK 2018 25 2017 Events on Focus

Bulgaria Needs to Outgrow Analogous Policies and Politicians to Make Digital Economy Happen

This was the headline of the CEO Conference: Europe at competitive digital market; economy based on free data the Forefroent of the Digital Transformation. The Bulgarian flow. Hurdles here include adoption of a legislation; Internet Presidency of the Council of the EU. AmCham Bulgaria has operators protection; personal data protection. Bulgaria opened the first large public discus- will also work for the adoption of a sion with the government on the Bul- common European plan for e-gov- garian presidency of the EU Council. ernance, as well as for copyrights Together with an 18-member delega- “The digital protection. tion of the AmCham EU there were Maria Gabriel, Digital Economy and meetings with the government to economy is Generation Society Commissioner pointed out discuss possible areas of interaction that the contribution of the digital and how AmCham EU’s expertise market to the EU economy was can be useful. 4.0 and we cannot expected to reach EUR 739 bn by Minister Donchev underscored meet it with a 3.0 2020. There is a need for women’s that in rivalry with Asia and North inclusion in technology, and Bulgaria America local manufacturing was could serve as an example: women burdened by the highest environ- administration encount to 27.7% of the people in mental standards and that Europe digital business vs. 16% in the EU. made 50% of the global social costs, and education that According to Karl Cox, AmCham it is which affected its competitiveness. is 0 or even 1.0.” no coincidence that one of the priori- Minister Pavlova presented Bul- ties is the development of a Euro- garia’s priorities for the Bulgarian Tomislav Donchev, Deputy Prime Minister. pean economy based on free data Presidency: improving connectivity; movement.

AMCHAM BULGARIA | YEARBOOK 2018 26 2017 Events on Focus

22ND ANNUAL AMCHAM INDEPENDENCE DAY PARTY

A blend of traditions and some novelty marked the 22nd Ambassador Rubin praised the partnership with AmCham AmCham Independence Day Celebration: the charming and elaborated on the importance and values of CSR by Marching Stars Band of Zlatitsa School created a festive mentioning the project “Little Heroes” of the America for atmosphere with music and dance. During the performance Bulgaria Foundation (Pirogov Children’s Hospital). Petar T. of the American and Bulgarian National Anthems, the U.S. Ivanov thanked the companies who supported the party. Marine Corps presented the National Colors. The event was Families, friends and partners came together once again to hosted at Sofia Tech Park. spend an unforgettable celebration with delicious foods and In her welcoming address Dr. Chemishanska acknowledged beverages, colourful kids’ corner, all accompanied by the the key events of the Chamber in the first half of the year. singer Albena Taneva and Mastilo Band.

AMCHAM BULGARIA | YEARBOOK 2018 27 AMERICAN CHAMBER 2017 Events OF COMMERCE on Focus IN BULGARIA

AMCHAM RAISES BGN 41,000 FOR CHARITY CAUSES

A total of BGN 41,000 was collected at the 15th Thanksgiving Charity Dinner held on November 21, 2017, the Military Club, Sofia. For 10 years AmCham Around 200 guests enjoyed the Thanksgiving Menu, entertainment program by Militsa Gladnishka and Mihail has contributed to the Yosifov Sextet. They all contributed to the AmCham and bCause charity initiative “Get ready to Succeed” and “Get ready to Succeed” “We Can” funds. Both causes provide scholarships and professional education courses for disadvantaged students. program with more than 100 U.S. Ambassador Eric Rubin and AmCham Executive Director Petar T. Ivanov greeted members of the Chamber, scholarships worth over BGN diplomats, and officials. BCause Chair Elitsa Barakova presented the beneficiary causes. 200,000. AmCham is a long-time partner of BCause Foundation for many social projects and initiatives for which the Chamber, Petar T. Ivanov, Executive Director, AmCham. through its members, has donated nearly BGN 500,000 over the years. Several member companies supported the cause via direct scholarship donations: America for Bulgaria Foundation, Fama Consuling and Telelink donated BGN 2,000 BGN More about 2017 AmCham’s Events on each, while AmGen Bulgaria donated BGN 10,000. https://amcham.bg/events-overview/past-events/

YEARBOOK 2018 28 Economy Data

2017 AmCham Bulgaria Advocacy Activities

2017 was again full of activities and intense work for maintaining positions and presenting AmCham’s positions in order to fulfill the Statute of the Chamber, our priorities, as well as to protect our members and the business environment.Position Papers

In 2017, the Chamber drafted and submitted 14 position papers on issues in the following sectors:

l Public Procurement l Taxation l Energy l Labor policy l Capital markets l Data protection l Healthcare l Judicial system

Outreach

The Chamber was also involved in outreach activities with the following representatives of the Government, the Parliament, the Judiciary, and other institutions:

l Meeting with Deputy Minister of Economy l Meeting with Minister for Bulgarian Presidency of the Council of the EU l Meeting with Deputy Prime Minister and Minister of Foreign Affairs l Meeting with Minister of Labor and Social Policy l Meeting with Delyan Dobrev, MP, GERB l Meeting with Deputy Minister of Health l Meeting and outreach with representatives of Commission for Personal Data Protection l Outreach with Public Procurement Agency l Meeting with representatives of US Embassy and U.S. Department of State l Meeting and outreach with the Supreme Judicial Council l Meeting with Director of Professional Education and Training Directorate to the Ministry of Education and Science

YEARBOOK 2018 29 Economy Data

Following our Priorities

Chamber’s activities related to the AmCham White Paper priorities: Investment promotion/Sustainable Economic & Business Environment l Meeting with Deputy Minister of Economy and InvestBulgaria Agency’s Executive Director to discuss investment promotion issues and present the AmCham White Paper recommendations l AmCham Position paper on the Draft Act for amendment and supplement of the Law on Public Offering of Securities was submitted and discussed with Member of the Parliament Delyan Dobrev, GERB and as a result of the Chamber’s effortsseveral proposals have been accepted and included in the Draft Act.

Human Capital Development l AmCham established cooperation with other foreign bilateral chambers in the area of dual education and took part in an inter-institutional working group to the Ministry of Education and Science on dual education l AmCham Board Members were invited to present before the Minister of Labor and Social Policy the White Paper recommendations in the area of labor policy l The Chamber organized a follow-up meeting with Deputy Ministers of Labor and Social Policy to discuss Government priorities on the labor policy, specific priorities for the BG Presidency 2018 As a result of the meetings, a number of AmCham White Paper recommendations were adopted by the Ministry of Labor and Social Policy and introduced through legislative changes.

Judicial reform l AmCham Bulgaria, together with other foreign bilateral chambers drafted and submitted to relevant institutions a judicial reform statement which was also presented before media. l As a result of the Judicial reform initiative, AmCham Board members were invited for a meeting with Deputy Prime Minister in charge of Judicial Reform and Minister of Foreign Affairs

2018 Bulgarian Presidency of the Council of the EU l In the summer of 2017, AmCham Board members held a meeting with Minister Lilyana Pavlova to discuss the draft priorities of the upcoming Presidency. The Chamber was one of the first organizations which stressed the importance of digitalization and asked Mrs. Pavlova to consider its inclusion in the Government priorities for the Presidency.

External advocacy AmCham Board members participated in two high-level outreach delegations of AmCham EU and the American-Central European Business Association (ACEBA).

YEARBOOK 2018 30 Economy Data

Transatlantic Economy - Highlights

If you ask a person – business professional or just a citizen – which is the biggest economy in the world, some might say it is the American, others will name China, quite few will put European economy on the table. Over the past 10 years in the economic circles a new term shows the impact of the U.S.-EU business relations. It is the Transatlantic Economy.

Benefits It is the biggest global economy in world which combines the synergies of both USA and the EU. Here is focused half of the world individual consumption which equals 1/3 of the Global GDP in purchase power parity.

Transatlantic numbers

Turnover between U.S. and Europe is 54% 64% of the investments in Europe are from US companies. of the global investments in the USD 5,5 USA come from Europe trillion of sales per annum.

Businesses from both sides of the E U economy has grown with USA and Europe gain jointly Atlantic open 2,7% in 28% of the 15 million jobs. world export 2017, and nearly and the US one – with 2,3%. 33% of the global import.

1 Source: Hamilton, Daniel S., and Quinlan, Joseph P., The Transatlantic Economy 2017: Annual Survey of Jobs, Trade and Investment between the United States and Europe Washington, DC: Center for Transatlantic Relations, 2017. © Center for Transatlantic Relations, 2017

YEARBOOK 2018 31 Economy Data

Here and There: The U.S. – Bulgarian Investments

Bulgaria and USA – turnover (2016)1 l US have invested USD 500 mln in Bulgaria l Bulgaria’s investments in USA are zero. l US related jobs are near 10,000 which is 2 times more than 2012 l The Bulgarian export for USA is USD 604 mln. l Bulgaria’s export to USA is USD 269 mln, which equals to 1,2% of the overall goods exported from Bulgaria. When other goods are included that contain bulgarian products, the Bulgaria’s share of the export to USA almost triples to 3,8%. l Bulgaria exports mainly textile and accessories, computers and electronic equipment, machines and other equipment, foods. l The states where most of the Bulgarian products are imported are New York, New Jersey, California, Michigan, and Illinois. l Bulgaria has exporterd services totaling USD 556 mln, and we have imported services totaling of USD 442 mln.

The U.S. Investments in Bulgaria

AmCham Bulgaria has prepared first of its kind analysis of the U.S. Investments in Bulgaria. It covers all sectors in the period 1990 – 2016. Using the know-how of the Institute for Market Economy it was conducted with a tailor methodology which can track the origin of all major investments in Bulgaria. The preliminary data are very interesting and give a significant light of the volume, sectors of interest, and regions where are deployed. Also, it gives some comparison data between main countries that invest in Bulgaria (which is not the main objective of this research). The preliminary data show that the U.S. investments in Bulgaria are highly underestimated. They are probably up to 2 times higher if the investments are tracked via the so-called middle-countries like The Netherlands, Belgium, The British Virgin Islands. There top three sector where the U.S. investments are concentrated – Processing Industry, Energy, and ITC. The first two include more than 80% of the overall investments of US companies. The research will be presented in H2 of 2018, and will be disseminated among members, institutions, and its data will be among AmCham’s main communication messages.

YEARBOOK 2018 32 Economy Data

2017 COUNTRY COMMERCIAL GUIDE - BULGARIA

In 75 countries around the world, the U.S. Department of Doing Business in Bulgaria – Market Commerce’s Foreign Commercial Service/Commercial Service, on a yearly basis, publishes Country Commer- Overview cial Guides (CCG). Designed to assist U.S. exporters As one of the EU’s newest members, Bulgaria is an in expanding or entering overseas markets, the CCG emerging market providing very good potential for new- contains valuable commercial, business, economic and to-export U.S. companies, to include mature SMEs who political information about a particular country gathered have significant international experience in their portfolio. from several U.S. government agencies. In 2017, Bulgaria celebrates its 10th anniversary as an EU member state. The Bulgarian CCG, a 90+ page report, provides a comprehensive look at Bulgaria’s commercial, economic and political environment and provides in-depth information on, and weblinks to, topics including trade regulation and What makes the country attractive for foreign investors is standards for selling U.S. goods and services in Bulgaria. the excellent logistical and supply chain services location for sales into the EU, Russia, Turkey and the Middle East as well as the fact that Bulgaria offers the lowest tax rates in the region: a 10% rate on personal and corporate income. Also, it has a bilateral treaty that allows the avoidance of double-taxation with the United States. In addition, the country has the lowest EU public deficit You can find the Bulgaria CCG at rates. The Bulgarian market is very receptive to U.S. goods and services and some 100 major U.S. companies https://2016.export.gov/bulgaria. operate in country

YEARBOOK 2018 33 Economy Data

Bulgaria’s Leading Sectors (2017) for U.S. Exports and U.S. Investment

Market Opportunities l Well-educated, young, multi-lingual labor force l One of the lowest wage rates in the EU l Convenient geographic location, and l EU membership provides Structural and Cohesion Funds financing opportunities to all qualified U.S. companies, including SMEs

Market Challenges l Regulatory and legislative unpredictability l Inefficient bureaucracy l Slow moving court system l Corruption and the influence of entrenched interests or organized crime on some sectors of the economy l Intellectual property right infringements l Important to retain a strong, vetted, agent, distributor or partner, and l Complex, and often opaque, tendering process

Franchise Automotive Sector Safety and Security

• senior care and services • Aftermarket consumables-oil and air • X-ray scanning equipment • restaurants filters • MR type of equipment • coffee shops • Wiper blades, rubber blades, hoses, • infrared mobile and stationary • lodging (hotels, motels, and chalets) gaskets and rings equipment • laundry and dry-cleaning • Engine parts, brake parts, exhaust • IP video surveillance • hotel management system parts • on site field testing • real estate brokerage • Car body parts • access control equipment • nutrition and supplement industry • Accessories such as wheel covers, • CCTVs products, and car/truck bed covers • laboratory equipment • employment/educational/training • Car batteries and battery chargers • ID security application equipment services • Exterior accessory lights • new IT and high-tech equipment, • Other good opportunities for: con- • Auto security products such as and venience stores, ice cream/yogurt alarms • programs and related services. stores, hardware stores, marketing/ • Steering wheel locks PR agencies, specialty retail stores, • Service equipment for electronic commercial and residential cleaning diagnosis, monitoring, testing and entities, baked foods, hair/nail care analyzing salons, as well as candy and snack • Wheel balancing, tire changing, oil establishments. changing • Quick repair kits, tools, paints and auto cosmetics

Environmental Technologies

Best Prospects & Sub-sectors: • Air Pollution Control • Drinking Water and Waste Water Management • Waste Management • Bulgaria’s National Biodiversity Strategy

YEARBOOK 2018 34 Economy Data

Bulgaria’s Leading Sectors (2017) for U.S. Exports and U.S. Investment

Prepared in June 2017 by the U.S. Dept. of Commerce, Foreign Commercial Service, U.S. Embassy, Sofia.

Pharmaceuticals Healthcare, Information and Medical Devices and Communications • E-Health/m-Health technologies, Pharmaceuticals Technologies services and solutions (e-prescription, e-appointments, etc. including • Hospital consumables and supplies • Cloud technologies software development) • Hospital equipment and medical • Big Data • New drugs (brand and generics) for devices incl. surgical appliances • Internet of Things oncology, diabetes and cardiology and supplies, surgical and medical • social media • Drug-checks instruments (orthopedic instruments, Emerging Sub-sectors include: • Immunizations optical diagnostic apparatus, blood • cybersecurity • Eye-care products including eye- transfusion device), electro-medical • e-health glass frames, lenses and related equipment, in-vitro diagnostic sub- • e-education optical and magnification products stances, irradiation apparatus, dental • automotive electronics • Food and nutrition supplements, vita- and ophthalmic goods etc. • intelligent transportation mins, probiotics (25% annual growth) • Clinical research and monitoring • smart city technologies and health cosmetics • Laboratory equipment • Pharmacy automation, software & • Homecare equipment Prospects for U.S. Providers also services • Emergency equipment include: • R&D and clinical trials (some 230 • Telemedicine and eHealth systems, • • broadband internet access tech- clinical trials are registered in and nologies Bulgaria annually); CEE account • Mobile equipment and real-time tests • consumer electronics (mainly smart for 13.6% of the market of Phase III for the detection and eradication of phones and tablets) clinical trials diseases. • educational software; software for • E-clinical trials, and the financial services sector; analyti- • Introduction of best practices in cal software MES and Production Health Technology Assessment management software (HTA). • telecommunications equipment • innovation center set-up services • cybersecurity solutions and others

Agricultural Machinery Energy: Agricultural and Equipment Power Generation, Oil & Gas, Products/Sector RES and Energy Efficiency • Distilled spirits • Nuts/Tree nuts • Equipment (Tractors & Combines: • Gas • Plant Genetics/Planting Seeds including components and parts) • Oil • Wine • Irrigation systems • Smart Grids • Pulses • Precision farming • Nuclear energy • Seafood • Autonomous combines and sprayers • Biomass • Prepared food • Precision planting and the use of • Energy Efficiency and Energy Market • Cattle genetics drones Liberalization • Snack/Cereals • Soft drinks/waters/juices”

YEARBOOK 2018 35 Economy Data

The U.S. investments in Bulgaria are in sectors with high added value

In 2018 AmCham presented the study "U.S. Investments in Bulgaria (1990 - 2016). Thе was prepared by the Institute for Market Economics (IME), upon request of The Cham- ber with the support of the U.S. Embassy in Bulgaria and The share of the United the America for Bulgaria Foundation. The publishing as a joint project of the Chamber and many member companies States in all of the foreign direct which supported it. investments in Bulgaria is 5.7%, Main findings which is at least two times The U.S. investments in Bulgaria are highly statistically underreported. The new data evolved from a new meth- higher than in the current odology tracking the end owner of the capital. It shows that the American investments till 2016 are up to BGN 4.5 official data. billion, which is at least 2.5 times higher. They include fixed In the end it turns out that the USA is already the sixth tangible assets, net revenue, and number of employees. largest investor in our country according to the end There are at least 28,600 people working in U.S.-owned owner of the capital. companies.

Share of the U.S. companies in the economy of Bulgaria, 2016

Fixed assets Net income (sales) Employment

BGN BGN 28,600 4 billion 7 billion people 3.3% 2.4% 1.1%

YEARBOOK 2018 36 Economy Data

U.S. investments in Bulgaria are focused in 4 sectors: processing industry, energy, ICT, and trade.

Top 4 sectors that attract U.S. investments form app. of the all the American 98% investments in the country.

Impact of the U.S. Investments in Bulgaria This is the first-ever analysis of the U.S. investment in Bulgaria for U.S.A. are now the a quarter of a century. Its main purpose is to underline the signifi- cance of the trade relations between the United States and Bulgar- ia. Thus, the American investments are of great importance both -th for the national economy and for the Bulgarian regions ever since 6 1990, with main focus on four sectors of the economy: Processing Industry, Information Technology and Communications, Energy, largest foreign and Agriculture. In each of these sectors, the share of U.S. invest- investor in Bulgaria. ments is at least 10% of all FDIs, with Agriculture taking 24%. These investments are represented in Bulgaria by some leading American brands that shape the reputation of these sectors. Regions such as Sevlievo, Razgrad, Stara Zagora, Gabrovo, Sofia and others have been developing sustainably for years thanks to the work and investments of American companies there.

of all FDI in Bulgaria are of U.S. origin 5,7% – double than the official data.

Share of the U.S. FDI by sectors

Employment in agriculture is the total share of U.S. FDI in 5 28,600 24% 11% sectors of the Bulgarian economy people (agriculture, energy, ICT, processing industry, 1.1% call-centers).

YEARBOOK 2018 37 Bulgaria Key Indicators 2018

Bulgaria’s Economy in Q3/2018*

1. Output According to the preliminary data, the produced Gross Domestic Product (GDP) at current prices in the second According to the NSI business inquiries in September 2018 quarter of 2018 amounted to 26 308 million BGN. GDP per the industrial confidence indicator decreased by 1.7 percent- person is 3 736 BGN. In USD terms at average quarterly age points compared to August 2018. exchange rate of 1.64261 BGN per dollar, GDP amounted to 16 016 million USD or 2 274 dollars per person. In Euro Industrial confidence indicator terms, the GDP is 13 451 million Euro or 1 910 Euro per 1 last value: September 2018 person. According to the seasonally adjusted data , the GDP % Industrial confidence indicator 15 growth rate in the second quarter of 2018 is 3.4% compared

10 to the same quarter of the previous year and 0.8% compared to the first quarter of 2018. Long-term average 5

0 Gross Domestic Product last value: 18 Q2 Gross Domestic Product yoy % ch. -5 8

6 -10

-15 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2

In July 2018 working day adjusted Industrial Production -2

Index rose by 1.0% in comparison with the same month of -4

2017 (preliminary data). On annual basis in July 2018 Indus- -6

trial Production Index calculated from working day adjusted -8 data rose in the manufacturing by 2.1%, while the produc- 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 tion fell in the mining and quarrying industry by 8.8% and in the electricity, gas, steam and air conditioning supply 2. Private consumption by 5.2%. In July 2018, the total consumer confidence indicator de- 3.6% creases by 0.6 percentage points compared to its level 3 In July 2018 working day adjusted data also showed an increase by 0.9% in months ago which is due entirely to the decreased confidence growth the construction production, compared among the rural population. The consumers’ opinions about the to July 2017. On an annual basis in development of the general economic situation in the country of GDP July 2018, the increase of production in over the last 12 months and their expectations over the next 12 construction, calculated from working months are slight deteriorated in comparison with the previ- day adjusted data, was determined from the positive rate in ous survey. In July 2018, the working day adjusted turnover the civil engineering, where the growth was by 2.2%, while in in ‘Retail trade, except of motor vehicles and motorcycles’ the building construction was registered a decrease by 0.1%. marked rise from 4.9% in comparison with the same month of the previous year. In July 2018 compared to the same month of 2017, the turnover increased more significantly in the ‘Dispens- Industrial production ing chemist; retail sale of medical and orthopaedic goods, cos- last value: July 2018 Industrial production yoy % ch. metic and toilet articles’ by 14.0%, in the ‘Retail sale via mail 20 order houses or via Internet’ by 13.4% and in the ‘Retail sale of 15 food, beverages and tobacco’ by 9.7%. More significant decline 10 was registered in the ‘Retail sale of computers, peripheral units 5 and software; telecommunications equipment’ - 6.1%, in the 0 ‘Retail sale in non-specialised stores’ - 1.1% and in the ‘Retail -5 sale of automotive fuel’ - 0.7%. -10

-15 During the second quarter of 2018, 69.8% of GDP were -20 spent for individual consumption. According to seasonally

-25 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 adjusted data1, the indicator increased by 7.5% compared to the respective quarter of 2017.

* From July 6, 2016 annual data is published in a separate application, which is updated every first half year. 1 Seasonally and calendar adjusted data.

AMCHAM BULGARIA | YEARBOOK 2018 38 Bulgaria Key Indicators 2018

3. Investment of 2018 there were 182.2 thousand unemployed persons, of whom 109.8 thousand (60.3%) men and 72.4 thousand (39.7%) women. The unemployment rate was 5.5% and Individual final consumption went down by 0.8 percentage points from the second quarter of 2017. The unemployment rate decreased from 6.9% to last value: 18 Q2 Individual final consumption yoy % ch. 6.1% for men and from 5.7% to 4.7% for women. 10

8 Employed persons 6

last value: 18 Q2 2 Gross fixed capital formation yoy % ch. 0 40

-2 30

-4 20

-6 10

-8 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 0

-10

-20

-30

The average capacity utilization in industry from April -40 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 to July 2018 increased by 2.3 percentage points and it reached 76.0%. According to seasonally adjusted data1, the gross fixed capital formation in the second quarter of 2018 increased in real terms by 6.6% compared to the same period of the In the second quarter of 2018 the total hourly labour cost previous year. The relative share of that indicator in GDP (preliminary data) rose by 8.5% compared to the second is 21.4%. quarter of 2017. The total hourly labour cost grew by 10.0% in industry, by 7.0% in services and by 10.5% in construction. Gross fixed capital formation

last value: 18 Q2 Labour cost index Gross fixed capital formation yoy % ch. 40 last value: 18 Q2 Employed persons 30 yoy % ch. 8

20 6

10 4

0 2

-10 0

-20 -2 -30 -4 -40 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 -6

-8 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

4. Labour market According to the NSI business inquiries in September 2018 In the second quarter of 2018 there were 3 157.1 thousand 33.7% of the industrial enterprises pointed out the labour employed persons aged 15 years and over, of whom 1 shortage as a factor limiting their activity. 678.1 thousand men and 1 479.0 thousand women. The share of employed persons in the total population aged 15 In June 2018 the average wage and salary was BGN 1 119 years and over was 52.5%, up by 0.3 percentage points or 0.8% more compared to the previous month. Compared compared to the second quarter of 2017. This share was to June 2017 the increase was 9.0%. 58.1% for men and 47.3% for women. 5. International transactions In June 2018 the aver- According to the industrial managers’ assessments in Sep- age wage and salary 5.7% tember 2018 in comparison with August an improvement of was BGN 1 119 or 0.8% the production assurance with orders from abroad (by 1.3 more compared to percentage points) was registered. is the the previous month. Compared to June 2017 In July 2018 the current account1 was positive amounting to unemployment the increase was 9.0%. EUR 947.8 million in July 2018, compared with a surplus of In the second quarter EUR 1 200.2 million in July 2017. In January - July 2018 the

AMCHAM BULGARIA | YEARBOOK 2018 39 Bulgaria Key Indicators 2018

current account was positive and amounted to EUR 933.7 (0.1% of GDP)2, compared with a negative balance of EUR million (1.8% of GDP)2, compared with a surplus of EUR 2 427.3 million (0.8% of GDP)2 in January - July 2017. The foreign direct investment in Bulgaria1 (under the directional Direct investment (net) principle) dropped by EUR 56.8 million in July 2018 according to preliminary data, compared with an increase of EUR last value: 18 Q2 Labour cost index yoy % ch. 59.2 million in July 2017. The direct investment abroad1 30 grew by EUR 52.2 million in July 2018, compared with an 25 increase of EUR 51.9 million in July 2017.

20 In July 2018 the balance on portfolio investment1 was nega-

15 tive amounting to EUR 11.1 million, compared with a positive balance of EUR 342.8 million in July 2017. In January - July 10 2018 the balance was positive and equated to EUR 660.4

5 million (1.3% of GDP)2, compared with a positive balance of EUR 1 041.9 million (2.1% of GDP)2 million in January 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 - July 2017. In July portfolio investment - assets1 grew by EUR 33.4 million, compared with a decrease of EUR 12.9 million in July 2017. In July portfolio investment - liabilities1 grew by EUR 44.5 million compared with a decline of EUR 167.2 million (4.3% of GDP)2 in January - July 2017. 355.7 million in July 2017. In July 2018 the trade balance1 recorded a deficit of EUR The external balance in the second quarter of 2018 is nega- 215.1 million in July 2018, compared with a surplus of EUR tive. Exports of goods and services decreased by 1.9%, 161 million in July 2017. In January - July 2018 the balance imports of goods and services increased by 5.0% (according on goods was negative amounting to EUR 1 872.3 million to seasonally adjusted data)3. (3.5% of GDP)2, compared with a deficit of EUR 264.7 million (0.5% of GDP)2 in January - July 2017. In July 2018 exports of goods (FOB)1 amounted to EUR 2 510.2 million 6. Prices in July 2018, growing by EUR 118.3 million (4.9%) from July 2017 (EUR 2 391.9 million). In January - July 2018 exports In August 2018 the harmonized index of consumer prices of goods totalled EUR 15 134.3 million (28.7% of GDP)2, increased by 3.7% compared to August 2017. The high- dropping by EUR 158.4 million (1.0%) year-on-year (from est decrease was registered in ‘Clothing and footwear’ - by EUR 15 292.7 million, 30.3% of GDP)2. In January - July 1.0%. 2017 exports grew by 19.7% year-on-year. In July 2018 im- In second quarter of 2018 the house price index increased ports of goods (FOB)1 amounted to EUR 2 725.2 million in by 7.5% compared to same quarter of 2017. July 2018, growing by EUR 494.3 million (22.2%) from July 2017 (EUR 2 230.9 million). In January - July 2018 imports Producer prices on domestic market of goods totalled EUR 17 006.6 million (32.2% of GDP)2, (in industry) growing by EUR 1 449.2 million (9.3%) from January - July last value: 18 Q2 2017 (EUR 15 557.3 million, 30.8% of GDP)2. In January - Exports and imports of goods and services yoy % ch. July 2017 imports grew by 16.6% year-on-year. 30 Exports In July 2018 the net direct investment1 was positive amount- 20 ing to EUR 109 million, compared with a negative balance 10 of EUR 7.3 million in July 2017. In January - July 2018 direct 0 investment recorded a positive balance of EUR 59 million

-10 Imports

Exports and imports of goods and services -20

last value: July 2018 Direct investment (net) -30 Mln. euro 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1000

800

600 Producer Price Index on Domestic Market in August 2018 400 increased by 3.1% compared to the same month of 2017. 200 The prices rose in manufacturing and in the electricity, gas, 0 steam and air conditioning supply by 3.3%, while in the min- -200 ing and quarrying industry the prices decreased by 0.8%.

-400 According to the business inquiry in September 2018, the -600 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 prevailing managers’ expectations are the selling prices in industry to remain unchanged over the next 3 months.

1 Preliminary data. In accordance with the practice of the BNB and the data revision requirements of the ECB. 2 The estimates of GDP are taken from BNB. 3 Seasonally and calendar adjusted data.

AMCHAM BULGARIA | YEARBOOK 2018 40 Bulgaria Key Indicators 2018

7. Monetary and financial indicators In June 2018 the three-month interbank market index SO- FIBOR2 decreased in comparison with June 2017 by 0.16 percentage points from 0.11% to minus 0.05%. In August 2018 broad money (monetary aggregate M3)1 increased annually by 9.6% compared to 10.4% annual growth in July 2018. At the end of August 2018 M3 was BGN 91.462 billion (88.6% of GDP)3 compared to BGN 90.443 billion (87.6% of GDP)2 in July 2018.

SOFIBOR

last value: July 2018 Producer prices on domestic market (in industry) yoy % ch. 20

-4

-8

-12

-16 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

The loans to Non-financial corporations, households and NPISHs2 in August 2018 amounted to BGN 53.826 billion. In August 2018, loans to Non-financial corporations increased by 4.2% annually (3.4% annual growth in July 2018) and at the end of the month amounted to BGN 32.491 billion (31.5% of GDP)3. Loans to Households and NPISHs were BGN 21.335 billion (20.7% of GDP)3 at the end of August 2018. In August 2018 the exchange rate BGN against the USD reached BGN 1.68 per USD.

Detailed NSI data is available at www.nsi.bg/en Theme “Economy”

1 Preliminary data. In accordance with the practice of the BNB and the data revision requirements of the ECB. 1 The estimates of GDP are taken from BNB.

AMCHAM BULGARIA | YEARBOOK 2018 41 BulgariaBulgaria KeyKey IInndicatorsdicators 2018

Key indicators for Bulgaria*

This update: 6 July 2018 Next update: 5 October 2018

1. Output Febr.'18 March'18 April'18 May'18 June'18 July'18 August'18 Sept.'18

Industrial confidence 1.1 % 1.0 1.2 0.4 1.5 2.8 -0.4 -0.1 -1.8

Industrial production 1.2 ** yoy % ch. -0.9 1.6 -0.7 0.5 3.6 1.0

Construction Production 1.3 ** yoy % ch. 4.2 -2.0 0.5 -0.5 -2.9 0.9

16 Q4 17 Q1 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 18 Q3

Gross domestic product 1.4 yoy % ch. 4.1 3.9 3.8 4.0 3.5 3.5 3.4

2. Private cosumption 16 Q4 17 Q1 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 18 Q3

Consumer confidence2 .1 % -27.9 -25.4 -27.0 -25.4 -26.1 -25.0 -23.2

Febr.'18 March'18 April'18 May'18 June'18 July'18 August'18 Sept.'18

Turnover in retail trade 2.2 ** yoy % ch. 3.1 2.4 5.0 6.3 6.1 4.9

16 Q4 17 Q1 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 18 Q3

Individual final yoy % ch. 3.8 3.5 4.6 4.9 4.6 6.3 7.5 consumption 2.3

3. Investment 16 Q4 17 Q1 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 18 Q3

Capacity utilization in % 74.6 75.5 74.7 75.5 76.8 73.7 76.0 industry 3.1

Gross fixed capital yoy % ch. -9.1 -2.3 4.0 2.3 6.6 9.7 6.6 formation 3.2

Change in stocks 3.3 % of GDP 0.7 1.6 1.8 0.6 2.2 1.1 2.2

4. Labour market 16 Q4 17 Q1 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 18 Q3

Unemployment rate 4.1 % 6.7 6.9 6.3 5.8 5.6 5.7 5.5

Unemployment rate - male % 6.8 6.8 6.9 6.1 5.6 6.3 6.1

Unemployment rate - % 6.5 6.9 5.7 5.5 5.7 5.1 4.7 female

Employment rate 15+ 4.2 % 49.2 50.0 52.2 53.2 52.3 51.5 52.5

Employment rate 20-64 % 67.7 68.6 71.7 73.0 72.1 71.1 72.6

Employed persons 4.3 yoy % ch. -1.8 2.1 4.6 5.6 5.4 2.1 -0.5

Labour costs 4.4 yoy % ch. 6.6 10.9 10.3 11.5 13.2 6.8 8.5

Febr.'18 March'18 April'18 May'18 June'18 July'18 August'18 Sept.'18

Shortage of labour in % 30.3 33.3 34.9 34.7 32.5 33.7 33.7 33.7 industry 4.5

Wages 4.6 yoy % ch. 6.3 6.9 8.0 7.2 9.0

AMCHAM BULGARIA | YEARBOOK 2018 42

Bulgaria Key Indicators 2018

5. International transactions Febr.'18 March'18 April'18 May'18 June'18 July'18 August'18 Sept.'18

Export order books in balance -33.9 -31.0 -21.8 -30.2 -22.7 -25.7 -26.7 -25.4 industry 5.1

Exports of goods 5.2 mln. EUR 1879.7 2187.3 2073.6 2141.7 2289.6 2510.2

Imports of goods 5.3 mln. EUR 2153.3 2407.8 2334.7 2427.3 2595.8 2725.2

Trade balance 5.4 mln. EUR -273.6 -220.5 -261.1 -285.6 -306.2 -215.1

Current account 5.5 mln. EUR 176.7 -73.4 -111.7 -10.5 238.0 947.8

Direct investment (net) 5.6 mln. EUR 25.3 259.3 40.0 -30.3 -112.8 109.0

Portfolio investment (net) 5.7 mln. EUR 237.9 105.3 459.4 -77.9 -141.8 -11.1

16 Q4 17 Q1 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 18 Q3

Exports of goods and yoy % ch. 9.9 7.4 4.7 7.7 3.5 1.0 -1.9 services 5.8

Imports of goods and yoy % ch. 5.0 8.3 6.7 6.0 8.8 4.4 5.0 services 5.9

6. Prices Febr.'18 March'18 April'18 May'18 June'18 July'18 August'18 Sept.'18

HICP 6.1 yoy % ch. 1.5 1.9 1.7 2.3 3.0 3.6 3.7

16 Q4 17 Q1 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 18 Q3

HPI 6.2 yoy % ch. 8.1 9.0 8.6 9.0 8.2 7.1 7.5

Febr.'18 March'18 April'18 May'18 June'18 July'18 August'18 Sept.'18

Producer prices on domestic market (in yoy % ch. 4.4 4.8 3.8 4.8 5.7 3.4 3.1 industry) 6.3 **

Selling prices expectations balance 2.2 3.2 2.5 1.9 1.4 4.3 2.1 3.9 in industry 6.4

Selling prices expectations balance 6.4 5.3 6.1 7.4 12.3 6.9 9.8 9.5 in retail trade 6.5

7. Monetary and financial indicators Febr.'18 March'18 April'18 May'18 June'18 July'18 August'18 Sept.'18

SOFIBOR (3 months) 7.1 index 0.01 0.00 0.00 -0.02 -0.05

М3 7.2 yoy % ch. 8.1 8.4 8.2 8.8 10.0 10.4 9.6

Credit to Non-finansial Corporations and yoy % ch. 3.7 3.9 5.4 5.3 5.8 5.9 6.5 Households and NPISHs 7.3

Exchange rate USD/BGN 7. 4 value 1.60 1.59 1.62 1.67 1.68 1.67 1.68

Note: yoy % ch. - growth rate compared to the same period of the previous year. * The key indicators are elaborated in accordance with the euro area, European Union and individual Member States indicators system. The analytical document is quarterly updated. ** In compliance with Regulation (EC) № 1165/98 and amendment Regulation (EC) № 1158/2005 since January 2018 the base year for Short-term business statistics has been changed. All short-term indicators presented in the form of indices are calculated and published at 2015 as a base year.

AMCHAM BULGARIA | YEARBOOK 2018 44

BRANCH LIST

AMCHAM MEMBERS BRANCH LIST (as of November 30th, 2018)

Agriculture ADM Bulgaria Trading EOOD GTC Bulgaria Cargill Bulgaria EOOD Lindner Immobilien Management EOOD Ekzotica EOOD Minstroy Holding Jsc GIFTA On Bulgaria Ltd. Sienit Holding Audit and Accounting VERO Bulgaria AFA OOD Baker Tilly Bulgaria Consultancy and Legal Services Institute of Internal Auditors in Bulgaria Apis Europe JSC ISA Audit Ltd. Bojinov & Bojinov Ms. Margarita Radeva, CPA BOYANOV & Co. Novacon Bulgaria Ltd. Braykov’s Legal Office Sb Accounting and Consulting CMS Sofia TMF Services EOOD Danailov, Drenski, Nedelchev & Co. Delchev & Partners Law Firm Automobile Deloitte Bulgaria EOOD Denkstatt Bulgaria OOD Auto Bavaria Ltd. Dimitrov, Petrov & Co. Balkan Star Group Djingov, Gouginski, Kyutchukov & Velichkov BMW Vertriebs GmbH - Branch Bulgaria Dobrev & Lyutskanov Law Firm Bulavto AD EQE Control OOD eMobility International AD Ernst & Young Bulgaria EOOD Moto-Pfohe Ltd. Georgiev, Todorov & Co. Porsche BG EOOD Gugushev & Partners Law Office Helios Power Jsc Construction and Engineering IP Consulting Ltd. AT Engineering 2000 Ltd. Kambourov & Partners Attorneys at Law Barage Group Ltd Katilin Popov Enforcement Officers Bulgarian Green Building Council EOOD Kinstellar Castello Precast OOD Kolcheva, Koev and Partners Law Firm City Design Development KPMG in Bulgaria Gasstroymontaj Jsc Law Firm McGregor & Partners Geostroy AD Mr. Alex Nestor Geotechmin OOD Mr. Nikolay Ouzounov

AMCHAM BULGARIA | YEARBOOK 20182017 46 BRANCH LIST

Penev LLP Schneider Electric Bulgaria Penkov, Markov & Partners Shell Bulgaria EAD PwC Bulgaria Silver Ridge Power Ruseva-Savova & Partners Veolia Energy Bulgaria EAD Tocheva & Mandazhieva Law Office Westinghouse Energy Systems Bulgaria Branch Zlatina Ruseva-Savova, LL.M., MBA WorleyParsons Nuclear Services JSC

Consumer Goods Finance and Banking Alliance One Tobacco Bulgaria ALD Automotive OOD AVON Cosmetics Bulgaria BNP Paribas S.A. - Sofia Branch British American Tobacco Bulgaria Bulgarian-American Credit Bank Emag International OOD Citibank Europe Plc, Bulgaria Branch Imperial Tobacco Bulgaria EOOD EOS Matrix Ltd. Japan Tobacco International Bulgaria Expat Capital Philip Morris Bulgaria EOOD Investbank JSC Refan Bulgaria Ltd. Mastercard Europe SA Videolux Holding / Technopolis Municipal Bank Plc / AD Postbank Bulgaria (Eurobank) Couriers Raiffeisenbank Bulgaria EAD DHL Express Bulgaria Ltd. TBI Bank EAD Flying Cargo Bulgaria Ltd. - Licensee of FedEx TC Ziraat Bankasi Sofia Branch World Courier Bulgaria Ltd. Tokuda Bank AD UniCredit Bulbank UniCredit Leasing EAD Defense United Bulgarian Bank Electron Progress EAD Visa Lockheed Martin Miltech Ltd. Food and Beverage Brown-Forman Bulgaria Ltd. Education Coca-Cola Bulgaria American College of Sofia Coca-Cola HBC Bulgaria AD American English Academy Devin EAD American University in Bulgaria (AUBG) Kamenitza AD Anglo-American School of Sofia Mars Incorporated Bulgaria EOOD Junior Achievement Bulgaria Mondelez Europe Services GMBH - Bulgaria WIFI Bulgaria EOOD Branch PANDA - IP Ltd. Energy Prestige 96 AD AES Bulgaria Sunfoods Bulgaria EOOD - Development Li- CEZ Bulgaria EAD censee of McDonald’s in Bulgaria ContourGlobal Maritsa East 3 AD EL-A-Project Ltd. Foundations and Associations EnergoService AD America for Bulgaria Foundation Hydroenergy Company JSC Association Industrial Cluster Srednogorie (ICS)

AMCHAM BULGARIA | YEARBOOK 2018 47 BRANCH LIST

Atlantic Club Bulgaria Oiltanking Bulgaria AD Bcause Foundation Siemens EOOD Bulgarian Executive Search Association Synchron-S OOD Bulgarian Tennis Federation Titan Machinery Bulgaria EAD Bulgarian-American Commission for Education- al Exchange (Bulgarian Fulbright Commission) Glob@l Libraries Foundation - Bulgaria Information and Communication Law and Internet Foundation Technologies Muzeiko Foundation A1 Bulgaria EAD National Network for Children Abrites Accedia Healthcare Atos Bulgaria Competency Centre August Research Axway Bulgaria EOOD Diamed Ltd. Ballistic Cell Ltd. Dr. Greenberg Medical Center BGO Software Eli Lilly and Company Bulgarian Software House Ltd. IQVIA CAD R&D CENTRE PROGRESS GROUP Maria Vranovska, MD, MBA Chaos Software ltd. Mylan EOOD Cisco Systems Bulgaria PPD Bulgaria EOOD Congress Engineering Ltd. Siemens Healthcare EOOD Dreamix Ltd Enterprise Communications Group OOD Human Resources EPAM Systems Bulgaria Adecco Bulgaria Ltd. ESRI Bulgaria Ltd. AIMS Human Capital Google Bulgaria EOOD Gi Group Hewlett Packard Enterprise Bulgaria HRS Services Ltd HP Inc. Bulgaria EOOD Jobs.bg EOOD IBM Bulgaria JobTiger Ltd. Intelligent Systems Bulgaria EOOD Pedersen & Partners InterConsult Bulgaria Ltd. Stanton Chase International Bulgaria Intracom Bulgaria EAD ITA Engineering Ltd Industrial Equipment and Trade Kontrax JSC 3M Bulgaria EOOD Lirex BG Ltd. Carrier Hladilna Tehnika Bulgaria Branch Mellon Bulgaria EAD DuPont Bulgaria EOOD Microsoft Bulgaria EcoPack Bulgaria AD Mnemonica JSC Ekotoi - Service Ltd. Musala Soft AD Eltrak Bulgaria Ltd. NDB Ltd. Emerson Process Management Nemetschek Bulgaria General Electric International Oracle East Central Europe Limited - Branch Bulgaria Geotrading AD Orak Group Europe Ltd. Megatron EAD Paraflow Communications Ltd. Metalvalius EOOD Progress

AMCHAM BULGARIA | YEARBOOK 2018 48 BRANCH LIST

S&T Bulgaria EOOD Manufacturing Software Group BG AD Alcomet AD Solytron Bulgaria Ltd. Apolo Ltd. Sportal.bg JSC Arexim Engineering EAD Stemo Ltd. Asarel-Medet AD TechnoLogica EAD BA Glass Bulgaria SA Telelink Balkan Metals and Minerals LLC Telenor Bulgaria Bulgaria Alpha EAD Visteon Electronics Bulgaria Curtis / Balkan Ltd. Vivacom Dundee Precious Metals Inc. VMware Bulgaria EOOD Ekoterm Proekt EAD Xogito Ltd. Honeywell Bulgaria EOOD Ideal Standard - Vidima AD Insurance Industrial Holding Bulgaria AIG Europe Limited (Bulgaria Branch) KAI Group ARS Bulgaria EOOD Monbat AD Bulstrad Life Vienna Insurance Group Sensata Technologies Bulgaria EOOD Colonnade Insurance SA Branch Bulgaria Techceramic-M I&G Insurance Brokers OOD Titan Zlatna Panega Cement Marsh LLC. VSK Kentavar - IZ Dinamika EOOD MetLife Europe Ltd. - Bulgaria Branch Walltopia AD Sogelife Bulgaria IJSC Woodward Bulgaria EOOD Zobele Bulgaria EOOD Investment Advisory and Management Services Marketing and Advertising BICA Services AA Kres OOD Center for the Study of Democracy All Channels Communication Coface Bulgaria Credit Management Services APRA Porter Novelli Balkans Communication EOOD Group Engineeringservice Sofia Ltd. Dentsu Aegis Network Bulgaria OOD Fama Consulting OOD GfK Bulgaria, Market Research Institute EOOD Garitage Investment Management EOOD Janev & Janev Intertek BA EOOD V+O Communication Mr. David Hampson Mr. Ivaylo Taskov, CFA Media and Entertainment BG Radio Logistics and Transportation Bulgarian International Television Advance International EOOD Economedia AD AVAir Ltd. FOX Networks Group Bulgaria EOOD Schenker EOOD Investor BG AD Unimasters Logistics Plc Net Info AD World Transport Overseas Bulgaria Ltd.

AMCHAM BULGARIA | YEARBOOK 2018 49 BRANCH LIST

Office Equipment FairPlay International YOUR EVENT PARTNER Xerox Bulgaria Ltd. Forton AD Glorient Investment BG OOD Outsourcing, IT Services Landmark Property Management AD MBL BulPros Consulting JSC Mr. Stefan Dimitrov C3i Solutions Raiffeisen Property Management GmbH EMC Computer Systems Austria GmbH Sofia Airport Center EAD Ingram Micro SSC EMEA EOOD Unique Estates Modis Bulgaria EOOD PSG Payroll Services Ltd. Relocations and Moving SAP Bulgaria EOOD Allied Pickfords Bulgaria Scale Focus AD Orbit Ltd. Sitel Bulgaria EOOD Santa Fe Relocation Sutherland Global Services Bulgaria EOOD Telus International Europe Vitosha Soft Ltd. Services AC Nielsen Bulgaria EOOD Pharmaceutical and Chemical Auxionize Jsc Cheque Dejeuner Bulgaria Ltd. AbbVie EOOD Coca-Cola European Partners Bulgaria EOOD Alcon Bulgaria EOOD Easy Exhibit OOD Amgen Bulgaria EOOD Edenred Bulgaria Astellas Pharma EOOD EVS Translations Bulgaria Astra Zeneca Bulgaria EOOD Force Delta Ltd. Bayer Bulgaria EOOD Interlang Ltd. GSK Red Devil Catering Plc Johnson & Johnson Bulgaria EOOD Right Rental Ltd. Merck Sharp & Dohme Bulgaria Sectron Pfizer Luxembourg SARL Branch Bulgaria Sherita M Ltd. Roche Bulgaria EOOD Sodexo Pass Bulgaria EOOD Sanofi Bulgaria EOOD SofitaTranslation Agency Sopharma AD Sterling Serviced Office Group Sopharma Trading JSC VIP Security Ltd. TRO Takeda GmbH

Public Relations Travel and Tourism DA Travel Ltd. M3 Communications Group, Inc. Grand Hotel Sofia Mrs. Kalinka Kovacheva Hilton Sofia InterContinental Sofia Real Estate Kempinski Hotel Grand Arena Bansko Bulgarian Property Developments EOOD Novotel Sofia COMPLETE CONFERENCE SOLUTIONS Business Park Sofia EOOD Premier Luxury Mountain Resort Cleves EOOD Premier Tours Ltd. . CONFERENCE EQUIPMENT FOR RENT AND SALE COLLIERS International Bulgaria Sense Hotel Sofia . PROJECTING AND INSTALLING OF CONFERENCE HALLS Sofia Hotel Balkan . INTERPRETERS FOR SIMULTANEOUS AND CONSECUTIVE TRANSLATION Turkish Airlines . CONFERENCE BACKGROUNDS, EFFECT LIGHTING AND FURNITURE . STAGE DESIGN AND 3D VISUALIZATIONS

WWW.CONGRESSENG.COM AMCHAM BULGARIA | YEARBOOK 2018 Head Office - INTERPRED WTC Sofia, 36 Dragan Tsankov Blvd., Т +359 2 963 29 55, M +359 885 82 44 46, E [email protected] 50 YOUR EVENT PARTNER

COMPLETE CONFERENCE SOLUTIONS

. CONFERENCE EQUIPMENT FOR RENT AND SALE . PROJECTING AND INSTALLING OF CONFERENCE HALLS . INTERPRETERS FOR SIMULTANEOUS AND CONSECUTIVE TRANSLATION . CONFERENCE BACKGROUNDS, EFFECT LIGHTING AND FURNITURE . STAGE DESIGN AND 3D VISUALIZATIONS

WWW.CONGRESSENG.COM Head Office - INTERPRED WTC Sofia, 36 Dragan Tsankov Blvd., Т +359 2 963 29 55, M +359 885 82 44 46, E [email protected] Membership 2018

Membership Development In Numbers

14 Increase 13 -12 -2 0 8 2 19

308 306 306 314 302 304 323 336 350 2009 2010 2011 2012 2013 2014 2015 2016 2017

MEMBERSHIP STRUCTURE BY MEMBERSHIP CATEGORY

Individual 3.51% Associate NGO 0.29% 6.73%

12 23 Local 36.84% US Companies 25.44% 125 87

International 27.19%

AMCHAM BULGARIA | YEARBOOK 2018 52 AmCham Members Directory

AMCHAM BULGARIA | YEARBOOK 2018 I member directory

3M is a global innovation company that never stops inventing. Over the years, our innovations have improved daily life for hundreds of millions of people all over the world. We have made driving at night easier, made buildings safer, and made consumer electronics lighter, less energy-intensive and less harmful to the environment. We even helped put a man on the moon. Every day at 3M, one idea always leads to the 3M Bulgaria EOOD next, igniting momentum to make progress possible around the world. At 3M Bulgaria, our team of dedicated professionals has been expanding 3M footprint in Bulgaria www.mmm.com since 1992.

A1 is a leading provider of digital services and telecommunication solutions in Bulgaria. With its 4,000 employees the company delivers mobile and fixed services to over 5 million customers. Additionally, the company offers high speed broadband, digital and satellite TV, including owned sport channels, cloud and IoT solutions.

A1 Bulgaria EAD The company is part of A1 Group – a leading telecommunication supplier in CE Europe with over 24 million customers. The portfolio of A1 Group includes voice services, high www.a1.bg speed internet, multimedia, IT, data traffic and online payments solutions.

We are a full-service advertising agency with strong creative and media teams. We are the successor of KRES Advertising Agency, founded in 1992 as one of the first advertising and media companies in Bulgaria. The company was established to meet the demands of multinational companies that entered the Bulgarian market.

AA KRES OOD www.kres.com

AbbVie is a company that takes on the toughest health challenges. We aim to make a remarkable impact on people’s lives. We are a highly focused research-driven biopharmaceutical company. We target specific difficult-to-cure diseases where we can leverage our core R&D expertise to advance science.

AbbVie EOOD We focus on discovering, developing and delivering drugs in therapeutic areas where we have proven expertise—and can make an impact: Immunology, Oncology, Neurosci- www.abbvie.com ence, Virology, General Medicine

For all of us, working at AbbVie is more than a job. It’s a purpose that leads to better lives for other people, across the world.

Abrites is a software development company founded in 2005. The company specializes in the development of automotive diagnostic equipment. We also produce electronic control units for the automotive industry. In this regard we have developed the production of high-precision plastic injection molding, as well as molding design and manufacturing. We offer RoHS-compliant printed circuit board assembly services Abrites for the automotive industry. Another achievement of Abrites is the remote diagnostic and management system for fleet vehicles. www.abrites.com

AMCHAM BULGARIA | YEARBOOK 2018 II member directory

Nielsen is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what’s happening now, what’s happening next, and how to best act on this knowledge. For more than 90 years Nielsen has provided data and AC NIELSEN BULGARIA analytics based on scientific rigor and innovation, continually developing new ways to answer the most important questions facing the media, advertising, retail, and www.nielsen.com fast-moving consumer goods.

Accedia is a Professional IT Services company, specializing in technology consulting, software development outsourcing, as well as development of end-to-end IT solutions for both SMEs and large enterprises. With offices in Sofia, Bulgaria, Boston, MA and Palo Alto, CA, Accedia is one of the fastest growing technology companies in Central and Eastern Europe. Accedia A trusted software provider for customers in more than 15 countries on 4 continents, www.accedia.com Accedia works with leading banks & insurance providers, international financial institutions, Fortune 100 IT companies and innovative technology startups.

As a global leader in the field of HR, Adecco offers the full range of services and solutions which are tailored to meet the evolving needs of our clients and associates. In Bulgaria, our services and solutions fall into the broad categories of human capital consulting, recruitment services, temporary staffing, as well as HR administration, payroll and BPO. Adecco Bulgaria’s dynamic and flexible team is competent to provide Adecco Bulgaria Ltd. consultations on HR policies, change management, career coaching and career transition. Our recruitment services include recruitment for permanent positions, design and www.adeccobulgaria.com delivery of assessment centers.

ADM (Archer Daniels Midland Company) is one of the world’s largest agricultural processors and food ingredient providers, with more than 32,300 employees serving customers in more than 160 countries. With a global value chain that includes 428 crop procurement locations, 280 ingredient manufacturing facilities, 39 innovation centers and the world’s premier crop transportation network, we connect the harvest ADM Bulgaria Trading EOOD to the home, making products for food, animal feed, industrial and energy uses. www.adm.com

Advance International OOD engages primary in engineering and installation of energy efficient lighting systems and smart home installations. The company is among the most innovative in the sector, having won a number of awards in the field of constructing energy efficient passive systems for lighting in industrial and logistic warehouses, as well as constructing integrated IoT smart home systems in private Advance International EOOD apartments and residences. Additionally, the company has traditions and a large network in the field of air freight, sea freight, haulage and rail transportation but it is www.advance-international.com best known.

AMCHAM BULGARIA | YEARBOOK 2018 III member directorydirectory

AES is the biggest investor in Bulgaria’s energy sector. Our diversified portfolio of assets contributes to the security of supply and the energy independence of the country. With an investment est. at € 1,3 bn AES Galabovo TPP (600 MW) represents the largest and most modern power plant in SE Europe. St. Nikola Wind Farm (156 MW) is the largest wind park in the country. The AES Eurasia Shared Service Center in AES Bulgaria Sofia delivers in Finance, IT, Supply chain, HR and Communications to our businesses www.aes.bg in Eurasia.

Since 1991 AFA has been recognized as the biggest Bulgarian-owned consulting firm in assurance, accounting, payroll, taxation, corporate finance, business consulting and training. We provide flexible solutions to employee leasing and BPO. To help you meet all your business needs AFA is also your advisor in challenging projects involving restructuring, ERP implementation, transfer pricing. Our team of over 100 special- AFA OOD ists blends the rich experience of leading experts with the innovative attitude of our younger colleagues. www.afa.bg

With almost 100 years of history, AIG was the first insurance company on the Bulgar- ian market owned by a foreign strategic investor, dating back to 1996, and has delivered innovative risk solutions to commercial and consumer clients in the market for over 20 years. Today AIG has expanded to operate a multinational insurance Centre of Excellence in Sofia, providing underwriting support services and delivering on the AIG Bulgaria claims experience for our European customers. www.aig.bg

AIMS Human Capital is part of AIMS International, the global Executive Search and Leadership Development organization, represented in 50 countries, and is the franchi- see of Dale Carnegie Training for Bulgaria. AIMS provides full scope of strategic leadership solutions and is a trusted partner for clients in the fields of: Automotive, Financial Services, FMCG, Industrial, Life Sciences, IT and Telecom and Energy. We bring 25 years AIMS Human Capital of experience on the local market and over 100 years globally. www.aims.bg

Alcomet AD is leader in the production of rolled and extruded aluminium products with over 35 years of experience in the field of non-ferrous metallurgy. Mission of Alcomet is to be a socially responsible and environmentally friendly company which offers innovative solutions to its clients. The company offers full range of aluminium semi-finished products – household, technical and container foil, sheets and strips Alcomet AD finstock, standard and custom profiles and tailor made solutions according to clients’ needs and expectations, anodized and powder coated. www.alcomet.eu

AMCHAM BULGARIA | YEARBOOK 2018 IV

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AAlcon Bulgaria EOOD is the local affiliate of Alcon® - the world leader in ophthalmology. Alcon was founded in 1945 as a small ophthalmic shop in Fort Worth, Texas by Robert Alexander and William Conner. Through constant innovation and focus on patients and customers we’ve become the global leader in eye care and the second-largest division of Novartis, operating in 75 countries with over 25,000 employees. Alcon Bulgaria EOOD Alcon Bulgaria EOOD is the local affiliate of Alcon®, established in 1996. www.alcon.com

ALD Automotive Bulgaria EOOD the leading operational leasing company in Bulgaria. It is part of ALD Automotive – global leader in mobility solutions providing full service leasing and fleet management services in 43 countries. ALD Automotive places sustainable mobility at the heart of its strategy, delivering innovative solutions and technology-enabled services to its clients, helping them focus on their ALD Automotive EOOD everyday business. With 6,300 employees worldwide, ALD Automotive manages 1.63 million vehicles (30.09.2018). www.aldautomotive.bg Let’s Drive Together!

All Channels Communication Group unites All Channels | Advertising, All Channels | Activation, All Channels | Interaction, All Channels | Media and All Channels | PR, a Fleishman-Hillard Associate. The Group is a leader in integrated communications offering expert solutions in Corporate & Product Communication, Crisis Communica- tion, Digital Communication, Event&BTL Services. ACCG works for the image of Philips, All Channels Communication AVON, Discovery Channels, Stolichno, Starobrno, Jameson, the European Commission in Bulgaria, Zaharni Zavodi, BASF, Lavena, Decathlon, The Mall, DM, Kaufland, BAT, www.all-channels.com Orgachim.

Alliance One Tobacco Bulgaria EOOD is engaged in purchasing, storing, selling and trading of Bulgarian leaf tobacco. The company is based in Haskovo, Bulgaria and is a subsidiary of Alliance One International a leading global leaf tobacco merchant company, dealing with tobacco in more than 40 countries. Alliance One Interna- tional is an agricultural company that delivers value-added products and services Alliance One Tobacco Bulgaria to businesses and customers, and is a trusted provider of responsibly sourced, independently verified, sustainable and traceable products and ingredients. www.aointl.com

AUBG offers high-quality American education delivered entirely in English and students obtain both a U.S. and a European diploma. The university offers 10+ BA programs, an EMBA program, and a joint venture executive master in finance, banking & real estate program with SDA Bocconi. The university is home to about 1,000 students from 40+ countries and 70+ faculty members from 20 counties. AUBG is an undisputed education leader according to a national university ranking and AUBG American University in Bulgaria (AUBG) graduates top global success rankings with 99.8% employment rate. www.aubg.edu

AMCHAM BULGARIA | YEARBOOK 2018 VI

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At Allied Pickfords, we understand that each move is different. That’s why we approach moving services a little differently than other moving companies - with innovative services, advanced technology, and solutions tailored to each customer. Whether you need a full-service moving company or just a helping hand and expert service, we make moving simple and stress-free, before, during and beyond your move - at a Allied Pickfords surprisingly affordable price. When you relocate your home and family, you can trust the network of professional Allied Pickfords agents to get your possessions where www.allied.bg they need to be, whether they need to be on the globe.

The America for Bulgaria Foundation (ABF) assists in strengthening a vibrant market economy and the institutions of democratic society in Bulgaria, helping the country to realize its full potential as a successful, modern European nation. ABF seeks to enhance the longstanding legacy of goodwill and friendship between the American and Bulgarian people and through many of its programs, to promote the US – Bulgaria America for Bulgaria Foundation people-to-people contacts and exchange of ideas and resources. The Foundation represents the generous face of the American people and embodies the highest www.us4bg.org standards of US ethical conduct, transparency, and core values.

The American College of Sofia provides an outstanding private secondary education for Bulgarian and international students. Accredited by the Bulgarian Ministry of Edu- cation, MSASC, and IBO, ACS offers a rigorous academic program and an impressive variety of extra-curricular activities. Prospective Bulgarian students may sit for our entrance exam in Bulgarian after Grade 7. We also accept students after Grades 8 and American College of Sofia 9 who pass the English ISEE exam. Bulgarian graduates of ACS receive Bulgarian and US diplomas. Admitted international students attend a program designed to meet www.acs.bg international standards and specific student needs.

American English Academy (AEA) is a day private coeducational international school which offers American educational program from PreK to Grade 12. Based on international Best Practices and accreditation requirements, the school’s curriculum follows the U.S. Common Core Educational Standards. AEA is fully accredited by U.S. Middle States Association (MSA-CESS), Accreditation International, and U.S. National Coun- American English Academy cil for Private School Accreditation (NCPSA). For its Bulgarian students, AEA offers an optional Dual Language Program, licensed by the Ministry of Education. www.aeasofia.com

The Anglo-American School of Sofia (AAS) is the premier Pre-K to 12 international school in the Balkans. Our mission is ‘to engage, support and prepare each student for today and tomorrow’. AAS is an International Baccalaureate (IB) World School, is accredited by both the Council of International Schools (CIS) and the New England As- sociation of Schools and Colleges (NEASC), and is a member of the Council of British Anglo-American School of Sofia International Schools. Our graduates are accepted to excellent universities around the world, including Cambridge, Harvard and MIT. Our robust program is centred around www.aas-sofia.org our core values of commitment, respect and excellence.

AMCHAM BULGARIA | YEARBOOK 2018 VIII

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Amgen strives to serve patients by transforming the promise of science and biotechnology into therapies that have the power to restore health or save lives.

Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative Amgen Bulgaria EOOD human therapeutics. www.amgen.bg A biotechnology innovator since 1980, Amgen has grown to be one of the world’s leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.

For 29 years APIS Europe JSC has beena proven leader on the Bulgarian market in the field of development and sales of legal information systems.Presently, APIS serves the needs of more than 50,000 end-users from the private and public sector. Using the experience gained through the years, the companystepped on the international market by developing EuroCases – multilingual online service containing a rich collec- Apis Europe JSC tion of national legislation and court decisions with relevance to EU law. www.apis.bg

APOLO Ltd. is the only East European company with two licenses from W.L. Gore & Associates - for manufacture of hunting, fishing and outdoor clothing with own brand and specialized police and military apparels with the high-tech GORE-TEX® and WINDSTOPER® materials. Top-quality and functional equipment suggested both in the rich gamma of Realtree® and Advantage® camouflage patterns, and solid colors APOLO Ltd. and exported nearly in all Europe. Within Bulgaria, the company has a wide distribution network of about 50 shops. www.apolo-bg.com

APRA Porter Novelli Balkans Communication Group is a private agency, founded in 1994. In 2002 APRA became an affiliate partner of Porter Novelli and later started the expansion of the Group in Albania, Kosovo, Macedonia, Serbia, Bosnia&Herzegovina and Montenegro. The agency has extensive experience in developing strategies and programs for com- APRA Porter Novelli Balkans Communication Group plex issues affecting a wide range of audiences. Its clients include some of the world’s leading corporations, institutions and government agencies. www.apraagency.com

Arexim Engineering EAD is a 100% privately owned Bulgarian company. From the first idea for plastic design and development, trough moulds and manufacturing to the final serial production parts and delivery to more than 24 countries worldwide. Based on modern machines and advanced technology, using state of the art production facilities, Arexim Engineering EAD is a reliable partner with over 24 years of experience Arexim Engineering EAD in high precision plastic parts and moulds production, able to create new added value within the supply chain of its customers. www.areximengineering.bg

AMCHAM BULGARIA | YEARBOOK 2018 X member directorydirectory

ARS Bulgaria EOOD is a leading Bulgarian provider of corporate risk management, insurance brokerage and human resources solutions.

The company and its team of nearly 40 colleagues has been a part of the largest global risk and people solutions provider – Aon Plc., for 16 years. ARS Bulgaria EOOD From May 2017 ARS Bulgaria EOOD has successfully transformed from an Aon sub- www.arsbulgaria.com sidiary to an exclusive Aon correspondent. This additionally enables us to react even faster to changes in local business environment circumstances, and in the same time keeping unchanged our values, strive for innovation and access to global insurance market.

Assarel-Medet Mining and Processing Complex is the first, largest and leading Bulgar- ian mining company for open pit mining and processing of copper and other types of ores.

Assarel-Medet JSC is a joint-stock company with a core activity open pit mining and Asarel-Medet processing of copper and other types of ores, biochemical leaching of copper and the engineering and trade activities associated with it. The company performs research, www.asarel.com engineering implementation, design engineering, environmental and other services.

Association Industrial Cluster Srednogorie (ICS) is a non-profit organization, formed on an industry-regional basis that unites the interests, resources and goals of the large industrial enterprises, SMEs, local municipalities and media in the Srednogorie region as well as some of the research and educational institutions in Bulgaria. ICS aims to increase the competitiveness of the industry in the Central Srednogorie region, Association Industrial Cluster Srednogorie (ICS) improve the technical and social infrastructure in the region and help the growth of the quality and standard of living. www.srednogorie.eu

Astellas was founded in 2005 through the merger of Yamanouchi and Fujisawa, combining nearly two centuries of collective experience to create an international pharmaceutical company with innovation for patients at its heart. With its own distribution channels in more than 50 countries around the world, Astellas is developing business in a well-balanced manner across its four main regions of Japan, the Astellas Pharma EOOD Americas, EMEA and Asia & Oceania. On the forefront of healthcare change, Astellas is committed to turning innovative science into medical solutions that bring value and www.astellas.com hope to patients.

AstraZeneca is a global, innovation-driven, integrated biopharmaceutical company. The company discover, develop, manufacture and market prescription medicines for six important areas of healthcare, which include some of the world’s most serious illnesses: cancer, cardiovascular, diabetes, gastrointestinal, infection, neuroscience, and respiratory and inflammation. Astra Zeneca Bulgaria EOOD AstraZeneca Bulgaria is one of the fastest growing innovative pharma companies, shaping 7 leading brands, three times recognized Best Employer in Bulgaria and in Top www.astrazeneca.com 5 Best Employers in Central Eastern Europe.

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AT ENGINEERING 2000 is a building company est. 1991 in Sofia, Bulgaria. Now it is one of the leaders in the sector. Clients: Ministry of Finance; National Customs Agency; IMMOBUL; IMMOCONSULT GmbH–AUSTRIA; SAP Labs Bulgaria; Moto Pfohe; Doverie Briko; Ring SV; STILMET; NRIC; Allianz Bulgaria Holding; Raiffeisen Property Manage- AT Engineering 2000 Ltd. ment; Medica AD; IP Bulgaria 2005 Ltd; Mobiltel EAD; Burgas Plaza AD, Tengelmann RE International Bulgaria KD, BILLA Nedvishimosti EOOD, Ministry of Defense, Sofia www.ati2000.com Airport AD, Sofia Municipality, etc.

Conceived in 1990, the Atlantic Club of Bulgaria is the unique NGO promoting Warsaw Pact’s dissolution & enlargement of NATO and EU to New Europe. As an advocacy & political lobbying think-tank, ACB has hosted hundreds of Heads of States, Governments, international organizations (NATO, EU, UN, UNESCO, OSCE), Nobel Prize winners and world opinion leaders. Atlantic Club Bulgaria ACB represents the unique expertise in political & technological innovations, global- ization formation of EU policies and their implementation into practical solutions www.atlantic-club.org needed in everyday business life.

ATOS is an international IT Services company with EUR 12 bn annual revenue and 100,000 employees in 72 countries. It delivers digital services such as: Business & Platform Solutions, Consulting, Infrastructure & Data Management, Cloud operations, Big Data & Cyber-security and Unify solutions. Atos is the Worldwide IT Partner of the Olympic Games & in Bulgaria it has 1,200 employees. Atos Bulgaria Competency Atos Bulgaria Competency Centre Centre (ABCC) is a certified SAP partner with 400 SAP consultants and delivers, implements and supports all SAP solutions. www.bg.atos.net

August Research is the leading CRO in Central and Eastern Europe focused on clinical operations supporting small and medium-sized biopharmaceutical companies. Our team has been conducting clinical trials in the region for over 15 years and our unique combination of American management with local expertise provides the highest level of customer service and delivery. August Research www.augustresearch.com

Auto Bavaria is an authorized dealer of BMW and MINI in Bulgaria with the highest market share in the country. The company is also official representative of BMW Motorrad.

Auto Bavaria Auto Bavaria offers expertise in full range of services: new, used vehicle sales, original parts and accessories sales, financial and insurance solutions, vehicle servicing. www.bmw-autobavaria.bg Having a profound understanding of its customers’ needs. Auto Bavaria is committed to provide services of professional excellence, ensuring complete customer satisfaction.

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Auxionize is a trading system alternative to the traditional procurement process. The system uses the principle of reverse auctions: • Buyers initiate the auction; • Suppliers compete to win the deal; • The buyer chooses the winner, which doesn’t necessarily have to be the lowest price bidder. The selection is based on price, rating, and other criteria important to the buyer. Auxionize Jsc www.auxionize.com

AVAIR Ltd is a Bulgarian logistic company well established at the local and vicinity freight market. Founded in 2007, with its headquarters located in Sofia Airport Area, Terminal 1. Our goal is to provide 24 h/365 d aircraft charter solutions to satisfy the demands of Industry, Relief Organizations, freight forwarders, private companies and individuals. The company provides a variety of comprehensive logistic services to its AVAir Ltd. partners and customers. The customers of AVAIR Ltd. benefit from: The local market & law and regulations knowledge. www.avair.eu

Avon is the Company that for 130 years has proudly stood for beauty, innovation, optimism and, above all, for women. Avon products include well-recognized and beloved brands, such as ANEW, Avon Color, Avon Care, Skin-So-Soft, and Advance Techniques. Sold through nearly 6 million active independent Avon Sales Representatives, Avon products delight consumers in approximately 70 countries worldwide. AVON Cosmetics Bulgaria www.avon.bg

Axway (Euronext: AXW.PA) is a catalyst for transformation. With Axway AMPLIFY™, our cloud-enabled data integration and engagement platform, leading brands better anticipate, adapt and scale to meet ever changing customer expectations. Our unified, API-first approach connects data from anywhere, fuels millions of apps and delivers real-time analytics to build customer experience networks. From idea to execution, we Axway Bulgaria EOOD help make the future possible for more than 11,000 organizations in 100 countries. To learn more about Axway, visit www.axway.com. www.axway.com

BA GLASS BULGARIA SA, with its production facilities in Sofia and Plovdiv, is the leading manufacturer of glass containers both in Bulgaria and in South-East Europe. It operates through a certified quality assurance system, in compliance with ISO 9001, ISO 14001, OHSAS, FSSC 22000. The Company manufactures high quality glass containers for wine, beer, foodstuffs, soft and hard drinks, water, etc. in classical and BA GLASS BULGARIA SA non-standard shapes to client’s order, which compete successfully with the products of the world leaders in glass industry. It serves the markets in 30 countries, delivering www.baglass.com world-famous brands like Carlsberg, Coca Cola, Heineken, Pepsi, SABMiller, etc.

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Baker Tilly Bulgaria is part of Baker Tilly in South East Europe a leading firm of auditors, accountants and business advisors with offices in: Cyprus, Bulgaria, Romania, Greece, Moldova. 20 partners and more than 300 people offer services of the highest standards to more than 6.000 businesses. Through our membership with the Baker Tilly International network, we are able to draw resources and expertise to help meet Baker Tilly Bulgaria the needs of our clients, solve complex business problems and face the demanding challenges of tomorrow. Baker Tilly Bulgaria is an independent member firm of Baker www.bakertilly.bg Tilly International, a Top 10 largest accounting and business

The exploration company is a 100% subsidiary of Freeport McMoRan Exploration Corporation, USA and is formed as a district hub, covering the entire Europe, Russian Federation and Central Asia projects of the mother Company.

Balkan Metals and Minerals LLC www.fcx.com

Balkan Star Automotive EOOD Authorized Distributor of Fiat Chrysler Automobiles S.p.A. for Jeep® in Bulgaria Balkan Star Motors AD General Distributor of Mitsubishi Motors Corporation in Bulgaria Balkan Star Group Auto France 3000 OOD Official Dealer for Renault and Dacia www.balkanstar.com Balkan Star Retail Ltd. Service of trucks, trailers, semi-trailers, buses, refrigeration units CARRIER and others, diagnostics and repair of brake systems WABCO and KNORR, installation of truck superstructures.

Ballistic Cell delivers comprehensive innovative business solutions in the fields of: Education Healthcare Intelligent Transportation Our services portfolio includes: Ballistic Cell Ltd. Strategic organizational consulting Management organization consulting www.ballisticcell.com Business process optimization and management Cutting edge technology Trainings Funding opportunities consulting Our greatest assets are the people in the company. Competence, commitment and creativity are characteristics of our employees.

Barage Group is a construction company, general contractor for: • Industrial and production buildings; • Logistics and warehouse buildings; • Commercial and office buildings; • Design & Build services.

Barage Group Ltd The company has over 260 employed personnel, incl. the necessary equipment. Barage Group is: www.baragegroup.com • Member of the Bulgarian Construction Chamber; • Awarded “Construction company of the year” for 2017 - Commercial Buildings - m2 ranking of the NRNR; • Awarded “Best construction company” for 2017 - big companies by the BCC – Sofia.

AMCHAM BULGARIA | YEARBOOK 2018 XIV 2 2 Jeep® is a registered trademark of FCA US LLC. Wrangler range homologated figures: fuel consumption from 7,9 to 7,4 l/100 km; CO emissions from 209 to 195 g/km (combined cicle). CO and fuel consumption values determined on the basis of the measurement/correlation method referring to the NEDC cycle as per Regulation (EU) 2017/1152-1153. The CO2 and fuel consumption values indicated are as of 30th June 2018; up-to-date values will be available at the selected 2 Jeep® official dealer. The CO and fuel consumption values indicated are for comparative purposes; homologated values may not reflect actual values. member directorydirectory

Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. Bayer’s mission is Science for a Better Life! Advancing health and nutrition is what we do best and care about most.

Bayer Bulgaria EOOD Bayer Bulgaria EOOD was established in 1995 and is mainly marketing and commercial organization for pharmaceutical products, OTC products and crop protection products www.bayer.bg (herbicides, fungicides, and insecticides) and seeds.

BCause Foundation is an expert organization, working for the development of modern philanthropy and effective non-profit sector. We have expertise with providing services both to companies and non-profit organizations in Bulgaria. A brief list of our competences includes design of community involvement programs, corporate grantmaking and causerelated marketing. BCause Foundation has a Rinker Center BCause Foundation for Entrepreneurship and Training set up to promote education, lifelong learning and support entrepreneurship in Bulgaria. www.bcause.bg

BG Radio is the first and only radio station in Bulgaria to play 100% local pop and rock music. From the very start on the 3rd of March 2001 BG Radio airs the best Bulgarian music from the 60’s to nowadays. Its music selection is a perfect mix of the “golden” Bulgarian songs and the latest hits.

BG Radio BG Radio audience are well-educated and working people, attached to national values and Bulgarian music and culture. BG Radio is a part of Fresh Media Bulgaria – the www.bgradio.net largest radio group in Bulgaria.

BGO Software is a custom software development company specialising in the development of new and re-design of existing mobile & web solutions for companies within the clinical research and pharmaceutical industries.

BGO Software is also: BGO Media Ltd. • An Official Software Supplier for the Health Research Authority (Department of Health, UK); www.bgosoftware.com • a Specialised supplier for the world’s second largest pharmaceutical corporation; • Microsoft Gold Partner; • Progress Premium Partner.

BICA Services is a private company with proven track record in providing workforce and administrative solutions to top ICT, Energy and Engineering companies worldwide. Today we can offer professional assistance in 60+ countries and our scope of services includes but is not limited to: - HR Consulting and Recruitment BICA Services Ltd. -Contractors management and Payroll - Immigration authorities & Relocation services www.bicaservices.com - Outsource management solutions - Training & Coaching solutions - Career development & Outplacement

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BMW Vertriebs GmbH - Branch Bulgaria is representing in Bulgaria BMW Group - the leading provider of premium products and services for individual mobility, topping the Dow Jones Sustainability Index in automotive industry. BMW Bulgaria actively promotes BMW Group commitment to highest standards of corporate social responsibility and transparent operations towards consumers, partners and employees. In BMW Vertiebs GmbH - Branch Bulgaria addition, by offering all series production models equipped with innovative functions improving efficiency framed in the EfficientDynamics programme, BMW Bulgaria www.bmw.bg guides consumer and society

BNP Paribas has been present in Bulgaria since 1994. Today, apart from BNP Paribas S.A. – Sofia Branch providing corporate and institutional banking, BNP Paribas Group is also represented in Bulgaria by the insurance company BNP Paribas Cardif and the leading consumer credit company – BNP Paribas Personal Finance S.A. – Bulgaria Branch, and employs more than 1,000 people. BNP Paribas S.A. - Sofia Branch www.bnpparibas.bg

Bojinov & Bojinov is a company providing legal services in the area of intellectual and industrial property law and commercial law. We represent both local and international clients. In the last decade we have served more than 9000 clients many of which include major multinational corporations and global brands. But smaller or specialist companies are also important to us and we are equally adept at looking after their Bojinov & Bojinov particular concerns and requirements. www.ptmbojinov.com

Established in 1990, BOYANOV & Co. has earned wide international recognition as the preferred law firm for many businesses expanding their portfolios in SE Europe. The firm has advised on most of Bulgaria’s landmark transactions. Its client portfolio in- BOYANOV & Co. cludes over 4,000 large international, local and foreign businesses and organisations, IFIs and governments. BOYANOV & Co. has always been ranked as a market leader for BOYANOV & Co. the excellence of its services, drawing on years of experience, in-depth knowledge of local and international law, and the brilliance of its professionals. www.boyanov.com

Braykov’s legal Office was set up in 1990 as a team of ten lawyers and five associates who can build in case a larger task force. Favorite fields: law of contract, commercial law, intellectual property (no patents), real estate. Key accounts: Xerox, IBM, British American Tobacco, General Motors, General Electric, Diageo, Kodak, Playboy, HBO, BAEF. We try to offer a preventive service like a lighthouse on the coast. Braykov’s Legal Office www.braykov.com

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British American Tobacco Bulgaria is a representative of the multinational tobacco company British American Tobacco Plc. with brands, sold in more than 200 markets. Over the last 4 years BAT has been the fastest growing tobacco company in Bulgaria in terms of market share. Part of its portfolio are some of the world’s most famous brands - Dunhill, Vogue, Lucky Strike and Rothmans. Since 2017, BAT Bulgaria has British American Tobacco Bulgaria taken the leading position in the market after the acquisition of strong local brands such as Victory and Eva. For further information you can visit: www.bat.com www.bat.com

Brown-Forman, one of the largest American-owned spirits and wine companies and among the top 10 largest global spirits companies, sells its brands in more than 135 countries and has offices in cities across the globe. It was founded in 1870 by George Garvin Brown in Louisville, KY. In all, Brown-Forman has more than 25 brands in its portfolio of wines and spirits. Through Brown-Forman Beverages Worldwide, Brown- Brown-Forman Bulgaria Ltd. Forman produces and markets many of the most well-known and best-loved wines and spirits in the world. They include Jack Daniel’s, Jack Daniel’s Tennessee www.brown-forman.com

Bulavto is one of the leading distributors of trucks in Bulgaria, operating in the automotive sector for 25 years. The brands represented by Bulavto group of companies in Bulgaria are: Ford Trucks, Iveco, Iveco Bus, Magirus, FPT, Fassi, Dacia/Renault/Nissan, Toyota. From the beginning of 2017 Bulavto JSC became the official importer of Ford Trucks for Bulgarian market, offering to its customers the complete range of trucks, as well as Bulavto AD aftersales services. www.bulauto.com

Bulgaria Alpha EAD is a 100 % owned subsidiary of Mundoro Capital Inc. Mundoro is a Canadian based public company which is focused on generating value for its shareholders through utilizing the collective expertise of our directors, management and technical staff to investment in mineral projects that have the ability to generate future cash. Bulgaria Alpha EAD Mundoro proactively staked a land position in an under explored region of the Rho- dopes known for precious metal deposits. www.mundoro.com/bulgaria/

The Bulgarian Executive Search Association is the professional organization of consultants who find and attract senior management personnel in Bulgaria. They join hands for introducing ethical standards in the Bulgarian market and raising the professional level of the sector. Established in early 2011, its founders are: Alexander Hughes, Boyden, Dr. Pendl and Piswanger, DHR International Neumann and Stanton Bulgarian Executive Search Association Chase International. www.besabg.org

AMCHAM BULGARIA | YEARBOOK 2018 XVIII

member directorydirectory

The BGBC is a non-profit organization that has been established eight years ago in Bulgaria. We are part of the World Green Buildings Council. Our purpose is to provide administration and technical support of buildings under the most well-known green building certification systems such as LEED, BREEAM, DGNB and EDGE. BGBC organizes educational events: trainings, seminars and conferences. Our main goal is to Bulgarian Green Building Council promote the importance of the use of sustainable techniques in the design, construction and operation of buildings and urban areas.

BiT television is a multi-thematic program profile TV and broadcasts informational, educational, cultural and entertainment shows. The mission of the BIT is to be the television of 10 million Bulgarians - those in Bulgaria and all around the world. A key feature of television is its focus on people and their lives and presentation of global issues through local problems. Bulgarian International Television www.bitelevision.com

BPD is an international company part of Tavistock Group. Established in 2004 and it is the first company in Bulgaria listed on AIM, the second-tier market of London Stock Exchange.

Since 2009 BPD became part of the Tavistock group - privately held Investment Bulgarian Property Developments EOOD Company founded by the investor Joseph Lewis more than 35 years ago. The company has grown to encompass a broad portfolio of investments in 15 countries. www.bpdplc.com BPD is a leading owner, operator and developer of industrial real estate in Bulgaria. BPD portfolio includes 5 logistics parks on key locations across the country.

BSH (Bulgarian Software House)successfully continues the tradition of service of the Bulgaria software–licensing pioneer ACT Ltd. Plovdiv, which became the first Autho- rized Distributor of Microsoft in 1993.

Today BSH is your trusted Microsoft partner in Bulgaria – we are 100% dedicated to Bulgarian Software House Ltd. our Microsoft partnership and expertise in its technologies. www.bsh.bg We provide software development, support, application integration and consulting services for clients in Europe and beyond.

The BTF coordinates the development of tennis in Bulgaria, supports the activities of over 117 tennis clubs and administers a sports calendar with national and international tournaments. The BTF supports the national tennis players from all age groups through programs like “Travel grants”, “Tennis Team Talent” and more. The BTF aims to increase the number of kids playing tennis with programs like “Tennis Bulgarian Tennis Federation 10”, “Evolve”, “Tennis for All”. The Federation develops the Wheelchair tennis program, coaching qualification program and different information campaigns. BTF manages www.bgtennis.bg the National UBB Tennis Centre in Sofia.

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Founded in 1996, Bulgarian-American Credit Bank is a modern, high technology institution that offers a full range of banking products and services to individual and business clients. BACB strongly supports SMEs, focusing on agriculture, alternative energy and eco-friendly projects. BACB is positioned on the market as “Bulgaria’s green bank”. In 2013 BACB presented the first and only Virtual Bank in Bulgaria – BACB Plus. Bulgarian-American Credit Bank www.bacb.bg

BULPROS is an innovative global IT and BPO services, solutions and product provider, one of the fastest growing technology companies, recognized by the latest rankings of Deloitte, Inc. 5000 Europe, Financial Times 1000 Europe etc.

Its offerings include Industry Digitalization, Cyber Security, Collaboration, Applica- BULPROS Consulting JSC tion Modernization, Infrastructure Transformation, Technology Services and Sales & Customer Services. www.bulpros.com BULPROS operates on a global scale and has more than 18 offices, located in Europe and North America.

Bulstrad Life Vienna Insurance Group is established in 1994. The company is one of the leading life-insurance companies in Bulgaria with long-standing traditions in providing more safety, security, health care and financial protection to its customers through variety of attractive life-insurance solutions suitable both for individual and corporate clients. Bulstrad Life Vienna Insurance Group Since 2007 Bulstrad Life Vienna Insurance Group is a member of Vienna Insurance www.bulstradlife.bg Group. For more information, please visit: www.bulstradlife.bg

Business Park Sofia (BPS) is the largest office park in Central and Eastern Europe. BPS covers 91,000 sqm with total built-up area of approximately 210,000 sqm offering class A facilities complemented by supreme amenities and modern working and recreational spaces. BPS represents approximately 50% of all class A space in Sofia and offers unparalleled choice of amenities for all of its 16,000+ employees and visi- Business Park Sofia EOOD tors entering BPS daily. BPS combines a multifunctional business infrastructure with superb landscaping and excellent connections to major transportation city landmarks. www.businesspark-sofia.com

C3i Solutions, an HCL Technologies company, is a multi-channel customer engagement services provider, specializing in global, high-touch consumer, patient, and end-user management. For the past 35 years, our unique, multi-channel approach and experience in highly regulated industries have made us the partner-of-choice for some of the world’s most trusted brands. With a strategic focus on innovation, we excel at C3i Solutions protecting our clients’ brands, while maximizing productivity and cost efficiency. www.c3isolutions.com

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The company is Microsoft® Certified Partner with several Gold Level competencies, Microsoft® Licensing Solutions Partner (LSP), Microsoft® Authorized Education Reseller (AER) and Microsoft® Country Partner of the year for 2010, 2012 and 2015. Thecompany is also IAMCP Innovation Partner Award 2015 Winner - EMEA Region, Dell EMC Gold Partner and testing centre for Pearson Vue. The main activities are CAD R&D CENTRE PROGRESS GROUP JSC system integration, development, installation, servicing of computer infrastructure, engineering, training and IT services. www.progress.bg

Cargill provides food, agriculture, financial and industrial products and services to the world. Our 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way.

We are operating in Bulgaria since 2006 and now Cargill Bulgaria has more than 1100 Cargill Bulgaria EOOD employees across three locations. The first one is Cargill’s Agricultural Supply Chain office, followed by our Ocean Transportation office in Varna and Cargill Business Services Sofia – www.cargill.bg our Shared Services Center.

Carrier Bulgaria is a part of Carrier Commercial Refrigeration - 100% owned by United Technologies Corporation. Carrier Bulgaria is active in the following fields:

- Commercial refrigeration systems – sales of products, delivering turnkey projects and providing 24/7 service CARRIER HLADILNA TEHNIKA BULGARIA BRANCH - Industrial refrigeration systems – sales of products, delivering turnkey projects and providing 24/7 service www.carrier.com/commercial-refrigeration - HVAC – distributing for Bulgaria the products with brand CIAT - www.ciat.com a company that is also part of UTC Climate, Controls & Security, delivering a turnkey solutions with these products and providing 24/7 service

CASTELLO PRECAST LTD is a leading Bulgarian construction contractor that oversees the delivery of engineering and construction of industrial projects.

C aSTELLO Precast OOD We offer procurement, project management, turnkey services and construction expertise in the development, engineering, design and build of industrial buildings and www.castelloprecast.eu facilities.

The Center for the Study of Democracy is the premier Bulgarian think tank working on a broad range of policy issues: legal and regulatory reform, energy security, hidden economy, anti-corruption strategies and practices, conventional and organized crime, and human rights and migration. CSD examines policy options and offers policy recommendations in legal format, provides independent, high-level assessments of Center for the Study of Democracy political, integrity and security risks as well as sector-specific analyses to empower informed decision-making and strategic planning. www.csd.bg

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CEZ Bulgaria was founded in 2005 to represent the international power company CEZ Group in Bulgaria. Its activities are focused on several priorities: investments in fixed assets; improvement of services for customers; create opportunities for professional and career development. CEZ Bulgaria shares the mission of CEZ Group: provide safe, reliable, and positive energy to its customers and society; and its vision: bring innova- CEZ Bulgaria EAD tion to resolve energy needs and help improve the quality of life. www.cez.bg CEZ Bulgaria is 100% owned by CEZ a.s.

Chaos Group creates physically-based rendering and simulation software for artists and designers. Founded in 1997, Chaos Group has devoted the last 17 years to helping artists advance the speed and quality of one of their most important tools. Today, Chaos Group’s photorealistic rendering software, V-Ray®, has become the rendering engine of choice for many high-profile companies and innovators in the visual effects Chaos Software ltd. and design industries. www.chaosgroup.com

Cheque Dejeuner Bulgaria - creator of purchasing power and your specialist in vouchers emissions. We have developed 3 well-known products: Food check “Cheque De- jeuner” - up to 60 lv. fully exempted from social and tax obligations and provided by the employer to the employees (Ordinance 7); Food check Ordinance No.11 - provided to staff, working in specific labor conditions for daily balanced nutrition; Gift Check Cheque Dejeuner “Cadhoc” - a way to reward and thank your employees and business partners! Cheque Dejeuner Bulgaria has the largest commercial network in the country - over 12,000 places.

Cisco (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Cisco supplies more than 80% of the routers that make up backbone of the global Internet and is primary provider of the networking infarstructure for business. Cisco offers the industry’s broad- est range of hardware and software products used to form information networks Cisco Systems Bulgaria or give people access to those networks - Data Center, Mobility, Network Systems, Security,TelePresence, Unified Communications, Industry Solutions. Opened an office www.cisco.bg in Sofia, Bulgaria in 1999.

Citibank Europe plc, Bulgaria Branch is part of Citi, a leading global financial services company. Citibank in Bulgaria is a full-fledged corporate and investment bank since 2000, offering a broad range of financial services and products to top tier local and multinational corporate customers, financial institutions, institutional investors and Citibank Europe Plc, Bulgaria Branch the government. The product offering includes: loan products, cash management, trade services, escrow services, foreign exchange, derivatives on FX, interest rates and www.citi.com/bulgaria/homepage commodities, corporate finance including syndications and advisory services.

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CDD is a consultant and interior contractor for furnishing and refurbishment of public spaces by combining management and full-scale realization.

We are exclusive and official distributors of some of the world leaders in: Lighting – iGuzzini, BEGA, Zumtobel. City Design Development Carpets – EGE, Interface. Furniture&Acoustics – Kinnarps, Narbutas, Buzzi Space. www.cdd-bg.com Fabrics&Wallcoverings – Delius, Vescom, Tektura.

In collaboration with architects we develop and produce customized furniture and other interior elements that correspond to the specific requirements and the corporate identity of our.

Cleves owns and operates Sofia’s largest portfolio of rental apartments in the smartest areas of town. Each of our 104 apartments is different and distinctive. We design the interiors to our own cutting-edge standards. All have top-of-the-range furniture and equipment, and great security. We at Cleves aim to deliver the most professional pre- and post-rental service and care to our clients. Cleves EOOD www.cleves.bg

CMS Sofia operates in Sofia, Bulgaria by retaining the services of over 40 qualified Bulgarian and international lawyers with experience in all fields of law across a variety of business sectors. We are a part of CMS, the 6th largest law firm globally, with 74 offices in 42 countries in Europe and beyond. Working with us you will benefit from our practical experience in representation before all Bulgarian authorities and our com- CMS Sofia mercial insight into the local market. We combine our local knowledge and contacts with our regional experience to offer solutions that work for you. www.cms.law CMS_LawTax_CMYK_19-27.eps

The Coca-Cola Company is a total beverage company, offering over 500 brands in more than 200 countries. In addition to the core brands, our portfolio includes some of the world’s most valuable beverage brands, offering soy-based milks, ice tea, waters, smoothies and many more. We’re constantly transforming our portfolio, from reducing sugar to bringing innovative new products. We’re also working to reduce our envi- The Coca-Cola Company Bulgaria ronmental impact by replenishing water and promoting recycling. With our bottling partners, we employ more than 700,000 people, helping bring economic opportunity www.coca-cola.bg to local communities.

We are a major fast-moving consumer goods business in Europe and the world’s largest independent Coca-Cola bottler. Across 13 countries, our employees make, sell and distribute the world’s most loved drinks brands to more than 300 million people. In Bulgaria, CCEP has established a Shared Services to centralize and standardize business processes, which enables the company to deliver a more effective and efficient Coca-Cola European Partners Bulgaria EOOD service to our customers. www.cokecce.com

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Coca-Cola HBC Bulgaria is a franchised bottler of The Coca-Cola Company.

We operate 2 bottling plants – in Kostinbrod and Bankia, and 7 warehouses. We employ about 1 100 people. We produce, sell and distribute The Coca-Cola Company products, Bankia mineral water; Rosa spring water, alcohol and Lavazza coffee. Coca-Cola HBC Bulgaria AD Our company is part of the Coca-Cola Hellenic Group. CCHBC has a premium listing on www.coca-colahellenic.bg the London Stock Exchange and secondary listing on the Athens stock exchange.

Coface Bulgaria is part of the international network of Coface – the world leader in trade credit insurance, business information, debt collection and factoring. Coface Bulgaria has successful experience in credit risk management, and has earned its place as the market leader in Bulgaria and CEE since 1994. At a global level, Coface provides services to over 130 000 customers from all nationalities, industry sectors Coface Bulgaria Credit Management Services EOOD and company sizes. The company has 4100 employees in 100 countries. Coface set up the first global information, rating and insurance system. www.coface.bg

Colliers International (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries. It provides a full range of services to real estate occupiers, owners and investors worldwide. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years. It is ranked the COLLIERS International Bulgaria number one property manager in the world by Commercial Property Executive for two years in a row. www.colliers.com/bulgaria

Colonnade is providing innovative property and casualty insurance products to companies and individuals. It currently writes and leads the placements of most of the large property risks in Bulgaria and is the leader on the market for Casualty, Cyber, GDPR, Professional indemnity and Directors and Officers insurance. Registered and licensed in Luxembourg, it is the only company in Eastern Europe with assigned Colonnade Insurance SA - Bulgaria Branch investment credit rating and it is 100% owned by the Toronto based Fairfax Financial Holdings Ltd. www.colonnade.bg

Congress Engineering is a leader in the complete conference solutions in Bulgaria. The company specializes in renting and selling professional conference equipment, setting up and equipping conference halls, stage and conference designing and furnishing as well as interpreters for simultaneous/consecutive interpretation. Congress Engineer- ing is an official representative and distributor for Bulgaria of a variety of European Congress Engineering Ltd. companies which offers unbeatable prices and high quality of service. www.congresseng.com

AMCHAM BULGARIA | YEARBOOK 2018 XXV member directory

ContourGlobal Maritsa East 3 manages and operates 908 MW lignite-fired power plant in Bulgaria, close to Stara Zagora, providing 9% of annual energy production in Bulgaria.

Our “Beyond Power” program for social investments is designed to promote the well- ContourGlobal Maritsa East 3 AD being of the local community. www.contourglobal.com ContourGlobal is a growth platform for acquiring and developing wholesale power generation with long-term contracts diversified across fuel types and geographies. Founded in 2005, today it manages a portfolio of 4 305 MW in operation in 18 countries on 3 continents.

Curtis/Balkan Ltd. is a subsidiary of Curtis Instruments which is a global leader in integrated systems technology, manufacturing controllers, DC/DC converters, fuel gages etc.

Curtis/Balkan Ltd. was established in 1989. The modern and highly efficient factory is Curtis / Balkan Ltd. one of the company’s main production centers, manufacturing a wide variety of Curtis products for the European and worldwide market. www.curtisbalkan.bg

D.A.Travel Ltd is full-service travel management company(TMC) and has been servicing the needs of corporate travelers since 2005. The company is IATA Accredit Agent, Amcham and ABBTA member, World Travel Award for Bulgaria’s Leading Travel Agency 2017. D.A.Travel Ltd represent in Bulgaria ATG Travel (www.atgtravel.com) - Ohio based world-leading global TMC. DA Travel Ltd. www.datravel.net

This Bulgarian business law firm has 4 partners and 5 lawyers. The partners’ successful cooperation throughout the years has resulted in the establishment of this boutique law office. The law firm provides corporate law services with emphasizing on venture capital, secured lending, infrastructure and construction projects, M&A, taxation and litigation, for both a large domestic client base and a range of foreign Danailov, Drenski, Nedelchev & Co. investors. The firm’s domestic and international network and its experienced lawyers with an excellent command of Bulgarian, English, French, German and Russian are www.lexlocus.com strong prerequisites for the success of our clients.

Delchev & Partners is a prime, full service, Bulgarian law firm. Delchev & Partners provides comprehensive legal and tax services and solutions to multinational corporations operating in Bulgaria, closely held foreign and Bulgarian businesses, local entrepreneurs, exempt organizations and individuals.

Delchev & Partners Law Firm www.delchev-lawfirm.com

AMCHAM BULGARIA | YEARBOOK 2018 XXVI member directory

Since 1992 Deloitte is one of the leading professional services organizations in Bulgaria, devoted to excellence in providing services in the following areas: audit, tax, legal, bookkeeping and payroll, consulting and financial advisory. Our 250 professionals are specialized in industries such as: aviation and transport; consumer business; energy and resources; financial services, banks, insurance companies and pension Deloitte Bulgaria EOOD funds; manufacturing; public sector; technology, media and telecommunications; life science and health care. www.deloitte.bg

denkstatt Bulgaria is an advisory on natural, social, and human capital management. Our services seamlessly integrate innovative management techniques and promote solutions to modern environmental and social challenges, which transform investments in sustainability into competitive advantage. We work within the modern paradigm of sustainable business, and we view ourselves as leaders and developers of Denkstatt Bulgaria OOD leadership in this niche in Bulgaria. www.denkstatt.eu We are part of denkstatt Group – the leading sustainability consultancy in Central and Eastern Europe, headquartered in Vienna, Austria.

Part of Dentsu Inc., Dentsu Aegis Network is made up of ten global network brands - Carat, Dentsu, DentsuX, iProspect, Isobar, Merkle, mcgarrybowen, MKTG, Posterscope and Vizeum and supported by its multi-market brands: Amnet, Amplifi, Data2Deci- sions, Mitchell Communications (PR), psLive and 360i. Dentsu Aegis Network is Innovating the Way Brands Are Built for its clients through its best-in-class expertise Dentsu Aegis Network Bulgaria OOD and capabilities in media, digital and creative communications services. Dentsu Aegis Network operates in 145 countries worldwide with over 40,000 dedicated specialists. www.dentsuaegisnetwork.com

DEVIN is the leading bottled water company in Bulgaria. All sources and the bottling facility are based in the ecologically clean and pure region of Devin, in the heart of the Rhodopi mountains. DEVIN is also the distribution partner for Red Bull and Granini in Bulgaria. The company is operating a national sales & distribution network, headquartered in Sofia. At present, DEVIN has over 500 employees. The Chief Executive Officer Devin EAD of the company is Mr. Thomas Krennbauer. www.devin-bg.com In March 2017, Devin was acquired by the Belgian Spadel Group and now is part of the exciting success of one of the leading bottled water companies in Western Europe.

DHL is the leading global brand in the logistics industry. Our divisions offer an unri- valled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With app.360,000 employees in more than 220 countries and territories, DHL connects people and busi- DHL Express Bulgaria Ltd. nesses securely and reliably, enabling global trade flows. www.dhl.bg DHL is part of Deutsche Post DHL Group, which generated revenues of more than EUR 60 bn (2017).

AMCHAM BULGARIA | YEARBOOK 2018 XXVII member directory

Dobrev & Lyutskanov Law Firm was founded in 1989. Being one of the leading law firms in Bulgaria, we see our mission in assisting our clients to achieve their business objectives successfully. The firm’s client base has a strong commercial focus and includes leading domestic and international companies in various economic sectors. The firm provides services in the field of commercial and civil law: investment, finance, Dobrev & Lyutskanov Law Firm taxation, property, competition, IP, contracts, litigation, mediation and ADR. At present the firm consists of 2 partners, 12 attorneys-at-law and staff. www.legaldl.com

Diamed Ltd. is founded in 1996 and is the official representative and distributor in Bulgaria of Becton Dickinson International, a medical technology company headquartered in the United States. The main business activities of Diamed Ltd. are sales of various diagnostic products, medical supplies and devices to university and district hospitals,private medical centers and industrial enterprises laboratories. The Diamed Ltd. company has 15 employees. www.diamed.bg

Dimitrov, Petrov & Co. is widely recognized for the in-depth knowledge and expertise in all key areas of business law. With over 20 years of experience advising clients in their Bulgarian corporate law endeavours, our firm takes pride in its undisputed posi- Dimitrov, Petrov & Co. tion as the leading Bulgarian law firm for innovative and dynamic legal areas where technology and law merge. We provide end-to-end tailored legal advice to clients and Dimitrov, Petrov Co. Law Firm have gained international reputation as one of the most successful and reliable law firms in Bulgaria. www.dpc.bg

Djingov, Gouginski, Kyutchukov & Velichkov’s team of 50+ highly qualified lawyers is a staple on the Bulgarian legal market offering a full-range of legal services to foreign investors since 1994. We counseled on many of the pioneer and landmark transactions in Bulgaria and have earned excellent reputation with clients and reputable legal editions who list us as top-tier. Our ever growing client portfolio of over 5,000 major Djingov, Gouginski, Kyutchukov &Velichkov multinational corporations consists mainly of US and West EU investors. www.dgkv.com

Dr. Greenberg Medical Center operates 24 /7 in two locations: Mladost-3 and in Drouzhba-2., providing consultancy, ultrasound, fibroscopy, x-ray, ostheodensitometry, EKG, Holter - EKG & BP and full laboratory diagnostics, physical therapy and occupational medicine with prophylactic checks-ups. Psychology tests for professional drivers. The center is certified to perform medical check-ups for U.S. and Canada im- Dr. Greenberg Medical Center migrant visa candidates. Dr. Greenberg Medical Center operates with NHCF, with local and foreign voluntary health funds. www.greenberg.bg

AMCHAM BULGARIA | YEARBOOK 2018 XXVIII

member directory

Dreamix is providing bespoke software development and consultancy for the last 10 years. Our main markets are West Europe and USA. Currently we are 50+ people and are growing a person per month. Our culture is our backbone and we invest heavily in our employees. We believe that the relation between a company and an employee must be one of a partnership. Dreamix Ltd Dreamix must invest as much as possible in each and everyone in the company, and every person must invest in the company as much as he/she can. Thus, the team will www.dreamix.eu grow professionally and the company will offer better services.

Dundee Precious Metals Inc. is an international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. In Bulgaria its subsidiaries - Dundee Precious Metals Chelopech EAD and Dundee Pre- cious Metals Krumovgrad EAD are committed to creating value in a safe and socially responsible manner. Among the biggest investors in the country, DPM projects are Dundee Precious Metals Inc. based on the best available techniques and are compliant with the requirements under the EU and national laws. Innovation-driven and open to dialogue with stake- www.dundeeprecious.com holders.

DuPont is a science based products and services company. DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. DuPont Pioneer is the world’s leading developer and supplier of advanced plant genetics. Active on the Bulgarian agricultural seeds market for over 20 years, DuPont Bulgaria EOOD they are Bulgaria’s most important supplier of high-quality, high-yielding imported hybrids of corn (maize), sunflower, canola, alfalfa and soybean seeds. www.dupont.com

Easy Exhibit is an event project management company specialized in international B2B exhibitions, helping exhibitors focus on their goals while managing all the creative, organizational and logistics related to the exhibition participation as stand design and build, hiring staff for the stand booth, organizing transfers for the management, hotel booking. Easy Exhibit www.easy-exhibit.com

Economedia is the biggest business media publisher and an important online media publisher in Bulgaria. Through all its channels Economedia reaches about 1.8 million people every month. It provides quality information, news, analysis, stories and tool for analysis and browsing through the information. The media covers wide range of businesses and company related supplements are available with the standard version Economedia AD of the media. The portfolio of Economedia consists of the following brands – Dnevnik. bg, Capital Weekly, Capital Daily, Capital.bg, Bacchus, Karieri.bg, Odit.info, Regal. www.economedia.bg

AMCHAM BULGARIA | YEARBOOK 2018 XXX member directory

ECOPACK Bulgaria is a Recovery Organization (RO) registered under the Trade Act and the Waste Management Act in 2004. ECOPACK is the first licensed RO in Bulgaria and a market leader since then. It doesn’t distribute profit and manages the separate collection, recycling and recovery of packaging waste of its clients – over 1235 multinational and Bulgarian companies. ECOPACK has been certified under EN ISO 9001:2008 EcoPack Bulgaria AD and EN ISO 14001:2005 and is a member of the European packaging recovery organization PRO EUROPE. Umbrella Organization of ROs in Europe and America (34), www.ecopack.bg currently concentrated only on Green Dot trademark protec

Edenred is the world leader in prepaid corporate services, operating in 45 countries, with 8,000 employees, nearly 770,000 corporate clients, 1.5M partner merchants and 44M beneficiaries. In Bulgaria Edenred provides solutions in three areas ∙ Food voucher - a social benefit given by employers ∙ Food Voucher is issued under Ordinance No.7 & No.11 ∙ HR solutions – the perfect instrument to appreciate and stimulate your Edenred Bulgaria employees in an unforgettable way. ∙ Incentive and Rewards solutions – to stimulate and reward your partners, clients. (Edenred Mastercard Gift/Reward Card, Edenred www.edenred.bg Gift/Reward Voucher).

Ekoterm Proekt was established in 2008 as a research and development company in the field of energy efficiency and utilization of renewable energy sources. The company is focused on alternative, innovative and environmentally friendly biomass products under two own brands – GreenEcoTherm and Bisolid. The range of the offered heating and cooling system solutions are designed for the private, public and Ekoterm Proekt EAD industrial sector. Ekoterm Proekt is following the mission to produce and offer high- quality products at affordable price, best ratio price – quality guaranteed. www.ecotherm.bg

“EKOTOI-SERVICE” Ltd., Burgas, is a German-Bulgarian joint venture company with a basic shareholder the German holding company of “ADCO Umweltdienste” GmbH, the world’s largest supplier of portable sanitary systems. We offer mobile chemical toilet cabins, sanitary and office containers, mobile and protective fences, other mobile equipment. Ekotoi - Service Ltd. www.ekotoi.com

Landscape architecture, planting of beautiful flowers, coniferous and deciduous trees, evergreen and ornamental shrubs, irrigation systems, grass mixtures.

Exotica EOOD www.ekzotika-bg.com

AMCHAM BULGARIA | YEARBOOK 2018 XXXI member directory

El-A-Project Ltd. was established in 2009 as a company for energy projects: energy projects designing, coordination with the necessary public institutions as well as construction permissions obtaining. Also, the company carries out management and consulting of projects connected with construction of power substations, overhead electric power-transmission networks, cable grids, street and park lights, high and EL-A-Project Ltd. low-voltage networks in residential and public building production plants, grounding and lightning protected networks.

Electron Progress EAD is a leading integration company in the Bulgaria militiry industry. Established in 1976 as an institute for Special Electronics, in 2004 it was fully privatized. The company is a strategic partner of the Bulgaria Ministry of Defence. The company is officially certified in accordance with the ISO 9001:2008; OHSAS 18001:2007 and NATO AQUAP 2110 Quality Assurance standart and ISO 14001:2004; Electron Progress EAD ISO 27001:2005. www.eprogress.bg

Lilly is a leading innovation-driven pharmaceutical corporation. Lilly makes medicines that help people live longer, healthier, more active lives:

• Founded on May 10, 1876 • Approximately 38,000 employees worldwide Eli Lilly and Company • Manufacturing plants located in 8 countries • Products marketed in 120 countries www.lilly.com Lilly is committed to the highest standards of corporate conduct and responsibility. How we do business is as important as what we do.

Represented in Bulgaria since 1992. Eltrak Bulgaria Ltd. is the authorized dealer of Caterpillar - the technology leader and the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and lift trucks recognized all over the world as the most efficient and reliable ones. The company is also the authorized distributor of Perkins engines, MB Crusher buckets and JLG lift equipment. Eltrak Bulgaria Ltd. www.eltrakbulgaria.com

eMAG as part of Naspers group is one of the biggest online retailers in the region. The company was established 15 years ago, and soon it became a multinational ecom- merce expert, operating in 4 countries (Romania, Bulgaria, Hungary & Poland). eMAG offers in Bulgaria more than 1,4 mln. products from wide range such as phones, TV, laptops, home appliances and other electronic devices. Moreover, eMAG offers Emag International OOD toys, books, gardening, beauty, DIY, fashion and sport products. eMAG became shopping destination offering possibility for comfortable shopping on the go via the mobile www.emag.bg App.

AMCHAM BULGARIA | YEARBOOK 2018 XXXII member directory

EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset — information — in a more agile, trusted EMC Computer Systems Austria GmbH and cost-efficient way. www.emc.com

Emerson (NYSE: EMR), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Emerson Commercial Residential Solutions business Emerson Process Management helps ensure human comfort and health, protect food quality and safety, and create sustainable infrastructure. For more information visit Emerson.com www.emerson.com

Eldrive is a regional integrated platform for electrical mobility developed by eMobility International AD, which combines rental of electrical vehicles and deployment and operation of charging stations network. Eldrive is in collaboration with Fortum Charge & Drive, the company providing the software solution for the charging stations with over 20 000 users on international scale. The system guarantees unified high-quality eMobility International AD service for all EV users. Eldrive offers flexible schemes for fleet management aiming an optimization of the costs structure and achievement of cleaner working environ- www.eldrive.eu ment.

EnergoService provides Engineering and Maintenance Services in Nuclear Automation, Safety, Radiation Protection, Project Management, Instrumentation and Control Sys- tems. The Company is a partner of Westinghouse Electric Company - a world’s leading provider of safe and innovative nuclear technology as well as an official distributor for Bulgaria of Mirion Technologies-a global supplier of Health physics products for EnergoService AD Nuclear Power Plants; Radiation Monitoring Systems; Neutron Flux Monitoring Sys- tems. EnergoService is a distributor of Hach products in the Nuclear Industry. www.energoservice.bg

The company has gained significant experience in the field of business and assets ap- praisals; concession analyses; environmental analyses; insurance estimations, etc. ESS is the American Appraisal s representative for Bulgaria and Macedonia. American Ap- praisal is the founder of the appraiser s profession and world leader in this field with offices in 65 countries. The joint activities raise the professionalism of our services and Engineeringservice Sofia Ltd. are a certificate for their quality. www.essbg.com

AMCHAM BULGARIA | YEARBOOK 2018 XXXIII member directory

Enterprise Communications Group OOD (established in December 2006 as Siemens Enterprise Communications EOOD) is a leading integrator of the latest communication and information technologies, developing a complex of activities which allows an overall professional service for our customers and partners including corporate structures, manufacturing enterprises, financial Enterprise Communications Group OOD institutions, small and medium businesses. As a high-tech company it has carried through different major projects regarding public administration, commercial www.enterprise-grp.com and manufacturing companies, transport and tourism in Bulgaria and abroad

EOS Matrix is a leading debt purchasing company in Bulgaria. It operates on the Bul- garian market since 2002, providing solutions in the field of receivables management. Since 2013 EOS Matrix is a registered financial institution at the Bulgarian National Bank. The service is mainly targeted to banks, financial institutions and large B2B customers, from which EOS Matrix buys both: unsecured and secured portfolios. EOS Matrix Ltd. OS Matrix also has developed and offers Debt Collection Matrix Software that optimize receivables management. www.bg.eos-solutions.com

EPAM Systems is a multinational company, leading provider of complex software engineering solutions and technology services with headquarter in the USA. In EPAM we deliver exceptional value to our customers by taking full advantage of our outstanding talent, leading edge tools and processes, and a continuous drive towards excellence and innovation. Since 1993 we are achieving our success line-by-line hand crafting of EPAM Systems Bulgaria complex solutions. From software products to core business applications, EPAM has provided expert consulting, development, testing, support and infrastructure services. www.epam.com

EQE Control is a company of ABS Group established in 2000, licensed for design and construction supervision. It is one of the leading companies in the project management of international projects, expert in FIDIC Conditions of Contract, ISO and OHSAS certified. The company has supervised TPP 600 MW AES Galabovo, 156 MW St. Nikola Wind Farm, more than 200,000 sq m luxury buildings, KNPP projects. EQE Control OOD EQE Control OOD is a member of BACEA, FIDIC & EFCA. www.eqecontrol.com

EY is a global leader in assurance, tax, transaction and advisory services. We are 250,000 people based in 728 offices in over 150 countries. EY Bulgaria is part of the Central, Eastern & Southeastern Europe and Central Asia (CESA) region in EY, which comprises 31 of the strongest emerging markets in Europe. EY has been present on Bulgarian market since 1992. Employing over 280 professionals locally across its four Ernst & Young Bulgaria EOOD service lines: Assurance, Tax, Transactions and Advisory, the firm offers the full scope of global services in an integrated effort with other growing practices in the region www.ey.com

AMCHAM BULGARIA | YEARBOOK 2018 XXXIV member directory

ESRI Bulgaria Ltd. is the leading software company in the field of Geographic information systems in Bulgaria and the official organizer of the World GIS Day in the country.

ESRI Bulgaria has a proven expertise in delivering high-quality IT solutions, technology, and services including applications build on the ArcGIS software suite and an ex- ESRI Bulgaria Ltd. tensive range of consulting and training services. For more than 20 years the company provides GIS solutions for various business, society and government organizations, www.esribulgaria.com helping its clients make informed decisions and improve their performance.

EVS Translations is a single-source solution for all language requirements, ranging from document translation to website localization and multi-lingual SEO, software localization, multimedia localization, interpreting and desktop publishing solutions. Our project managers, in-house translators, proofreaders and IT engineers provide high-quality, certified translations that meet international standards. Additionally, EVS Translations our company uses a secure centralized project workflow system, ensuring client confidentiality. www.evs-translations.com

Expat Capital, with its wholly-owned subsidiary Expat Asset Management, is the largest independent asset management company in Bulgaria. Founded in 2006, it offers personalized financial planning strategies unique for Bulgaria. Expat manages hundreds of individual investment portfolios, 3 mutual funds, and a family of ETFs tracking the performance of stock indices from the CEE region. Expat is the only ETF Expat Capital provider from the CEE region on the London Stock Exchange and on the Frankfurt Stock Exchange. www.expat.bg

Established in 1993, FPI is one of the most prominent investment companies in the real estate sector in Bulgaria. FPI is active in construction and development, property and rental management, leisure and tourism, agriculture. FPI Hotels & Resorts manages the 5-star Arena di Serdica Boutique Hotel, the 4-star Crystal Palace Boutique Hotel and the 4-star Hill Hotel in Sofia, as well as 2 holiday properties: Santa Marina in FairPlay International Sozopol and St. Ivan Rilski in Bansko. In 2014 Santa Marina Holiday Village was recognized as the World Golden Winner of the Prix d’Excellence Award by the International www.fpi.bg Real Estate Federation FIABCI.

FAMA CONSULTING offers services in the field of public affairs, parliamentary advocacy and government relations. It focuses on maximising clients’ leverage while containing business risks stemming from political and regulatory environment. This is done through the application of strict step-by-step methodology and hands-on political and institutional landscape know-how. Client areas cover, among others, Fama Consulting OOD energy generation - conventional, combined and renewable, oil and gas exploration, pharma, metallurgy, utility sector, financial services, bottled water industry, tobacco www.famaconsulting.bg industry, etc.

AMCHAM BULGARIA | YEARBOOK 2018 XXXV member directory

Flying Cargo Bulgaria Ltd. is the official licensee of Federal Express Corporation (Fe- dEx), one of the largest international couriers with a fleet of 684 airplanes and more than 3 million daily shipments to over 210 destinations worldwide. In 1994 FedEx was the first express carrier to be certified with the prestigious ISO 9001 certificate.

Flying Cargo Bulgaria Ltd. - Licensee of FedEx www.flyingcargo-bg.com

Force Delta Ltd is specialized in provision of all kinds of security services on the whole territory of Bulgaria: delivery, installation and adjustment of alarm systems; CCTV; physical security; VIP security; GPS control; Drink, drive, be safe. Amongst our clients are the embassies of: Germany, France, Italy, Finland, Netherlands, Ireland, Greece, Austria, Belgium, Qatar, Algeria, Libya. “”Force Delta”” has more than twenty years of Force Delta Ltd. experience in provision of security services for the US Embassy in Bulgaria. Force Delta is member of the American Chamber of Commerce and OSAC Bulgaria. www.forcedelta.com

Forton Cushman & Wakefield is an advisory company focused on commercial real estate. It is a subsidiary of Bulgaria’s largest real estate holding company AG Capital and an Alliance Partner of Cushman & Wakefield, the world’s largest privately owned real estate advisory firm for Bulgaria. Forton provides a full range of commercial property services and guides investors through every stage of the real estate process Forton AD – from research & strategic planning, project management to the purchase, financing, leasing, management, valuation and disposal of assets. www.cwforton.com

Fox Networks Group Bulgaria EOOD is a media company, part of 21st Century Fox (NASDAQ:FOXA). It employs over a 100 people and operates a portfolio of 7 internationally recognized entertainment and factual TV channels, including FOX, FOX life, FOX Crime, National Geographic, Nat Geo Wild, 24KITCHEN and BabyTV. Through the years, as a result of successful business decisions, the office in Sofia has become a FOX Networks Group Bulgaria regional hub for programming and distribution of the channels in Bulgaria, Serbia, Cro- atia, Slovenia, Macedonia, Albania, Montenegro, Bosnia and Herzegovina and Kosovo. www.foxchannels.bg

The Bulgarian-American Commission for Educational Exchange (Bulgarian Fulbright Commission) was inaugurated in 1993 under a bilateral agreement between the United States and Bulgaria, which appointed the U.S. Ambassador to Bulgaria and the Bulgarian Minister of Education to serve as honorary chairpersons of the Commission. Over the past 25 years, the Commission has administered the exchange of Bulgarian-American Commission for Educational Exchange Bulgarian and American scholars, students, teachers, artists and professionals from (Bulgarian Fulbright Commission) the public and private sector. The commission offers educational advising and professional training services. www.fulbright.bg

AMCHAM BULGARIA | YEARBOOK 2018 XXXVI member directory

Garitage Investment Management EOOD is a company specialized in investment management for own accounts and for third party investors, on project level. The company is focused on investments in the real estate sector, agricultural /food production, and education. The company’s portfolio includes projects for managed residential communities and office parks, commercial areas, educational and sports centers. In Garitage Investment Management EOOD its projects the company integrates diversity of styles and modern trends in materials and technologies. www.garitagepark.com

1. Construction, installation, procurement, testing and commissioning of onshore high pressure gas pipelines, oil pipelines; 2. Construction of water pipelines & sewage systems, incl. EPC projects; 3. Construction of Waste Water & Potable Water Treatment Plants, incl. EPC projects; 4. Stabilization of excavations & foundations-execution of piles and anchors; Gasstroymontaj Jsc 5. Geothermal drilling; 6. Rent out of machinery, etc. www.gasstroymontaj.com

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

General Electric International www.ge.com

Georgiev, Todorov & Co. was established in 1991 – one of the first Bulgarian law firms. We provide corporate law services with particular emphasis on the financial sector, venture capital, secured lending, telecommunications, IT and litigation for both large domestic clients and a range of foreign investors.

Georgiev, Todorov Co. More than 25 years ago, Georgiev, Todorov & Co. set the tradition of one of the most successful law firms in Bulgaria. Our team built a corporate culture focused on decision www.georg-tod.com oriented approach, helping our clients to unleash their potential.

Geostroy AD is one of the leading construction companies in Bulgaria. The company boasts serious experience and long lasting history in the execution of various and large scale projects. Geostroy has been successfully operating in the following spheres: industrial and civil construction; hydrotechnical construction; public utility infrastructure and environment protection; infrastructure projects; repair works and mining Geostroy AD activities; tunnel construction. www.geostroy.com

AMCHAM BULGARIA | YEARBOOK 2018 XXXVII member directory

Geotechmin OOD is a leading mining company in Bulgaria with 28 years of experience in the consultancy, mine design, construction and management of open pit and underground mines. In the last decade its operations have expanded beyond Bulgaria, becoming a prominent international mining player.

Geotechmin OOD Geotechmin was established in 1990 as a private mining consulting and engineering company. Over the years, under the entrepreneurial leadership of Tzolo Voutov, one www.geotechmin.com of the co-founders, the company has expanded into other fields, including mining, construction, infrastructure and environmental management.

Geotrading AD is a trading company established in 2005 as part of the GEOTECHMIN Group. Geotrading AD operates as a representative and dealer of world-renowned brands of machinery and materials basically in the mining industry: Polyurethane products; Tires; Ground engaging tools; Milling equipment and spare parts; Wear- resistant sheet metal; Xanthates production; Drilling tools etc. Geotrading AD Geotradig AD has a stationary service centre for mining machinery. The company also www.geotrading.bg runs two service centres under the brand ProAuto in Sofia and Etropole.

GfK Bulgaria established its business in year 1994 and since then keeps stable leader position at the local market in the industry. The company is a trusted source of relevant information for the market and the customers in Bulgaria and enables clients to make smarter decisions. GfK Bulgaria owns and manages each step of the whole market research process GfK Bulgaria, Market Research Institute EOOD (from the business scenarios description and elaboration with the clients, object of the research, till survey conduction, coding and data processing, data analyses), which www.gfk.com provides the company with strong competitive advantage.

Gi Group and its subsidiaries OD&M Consulting and Wyser are leading global consul- tancies providing solution for the development of the labor market. We operate in the fields of temporary and permanent staffing, search and selection, training and development, coaching, assessment, outplacement, remuneration and performance management services and systems. We have accomplished some of the largest Gi Group projects in these fields in Bulgaria. Our team consists of enthusiastic, creative and client-oriented professionals with extensive experience in HR arena. www.odmconsulting.com

GIFTA JSC is a Bulgarian company established back in the early 90ties and working today as a company group active in various business sectors – farming and grain trading, research, development and implementation of renewable energy projects – utilization of wind and solar energy, construction and real estate, tourism etc.

GIFTA www.bgagro.bg

AMCHAM BULGARIA | YEARBOOK 2018 XXXVIII member directory

Glorient Investment BG Ltd was incorporated for the purpose of development of investment activities in the real estate field. Our company aims to be a leader in its sector offering our partners professional services and effectively organised processes. We specialise in development of retail and logistic parks. Glorient Investment BG has successfully completed more than 20 projects. Clients of the Company are large Glorient Investment BG Ltd and well-known retail chains such as CARTGO PARTNER, EURO 07, BAUMAX, LILLY DROGERIE, MEDINA MED, INTER CARS, SLAM CLOTHING, TeMax, etc. Glorient Invest- www.glorient-bg.com ment BG Ltd offers build-to-suit opportunities and long-term rents-out.

Google’s mission is to organize the world’s information and make it universally acces- sible and useful. Through products and platforms like Search, Maps, Gmail, Android, Google Play, Chrome and YouTube, Google plays a meaningful role in the daily lives of billions of people and has become one of the most widely-known companies in the world. Google is a subsidiary of Alphabet Inc. Google Bulgaria EOOD www.google.bg

Global Libraries - Bulgaria Foundation (GLBF) is part of a worldwide network supported by the Bill and Melinda Gates Foundation. It partner with institutions, NGOs and private funders to create favorable conditions for equal access to information, the Internet and electronic services for the citizens and to encourage information literacy, life-long learning, and community development. GLBF reaches out to the citizens Glob@l Libraries Foundation – Bulgaria of 911 Bulgarian towns and villages and provide digital public access at over 4,000 workstations.

The five star business hotel represents a symbiosis between the traditional Bulgarian hospitality and a five star service. The hotel is situated in the heart of the capital, overlooking the City garden and within walking distance from the major tourist attractions. Business guests appreciate its close proximity to main administrative, financial and commercial sites. Each of the exceptionally spacious 105 rooms as well as the Grand Hotel Sofia 17 apartments offers luxury, comfort and style. The hotel convention centre has 6 multifunctional conference halls with daylight and up to 200 attendees. www.grandhotelsofia.bg

GlaxoSmithKline (GSK) is a science-led global healthcare company with a special purpose: to help people do more, feel better, live longer. Our goal is to be one of the world’s most innovative, best performing and trusted healthcare companies. Our strategy is to bring differentiated, high-quality and needed healthcare products to GSK as many people as possible. Our values are Patient focus, Transparency, Respect, Integrity. www.bg.gsk.com Our expectations are Courage, Accountability, Development, Teamwork. Everyone at GSK focuses on three priorities: Innovation, Performance, Trust

AMCHAM BULGARIA | YEARBOOK 2018 XXXIX member directory

GTC Bulgaria is a 100% subsidiary of Globe Trade Centre S.A. Globe Trade Centre (www.gtc.com.pl) was established in Warsaw in 1994 and is one of the leading real estate investor and developer focusing on Poland and in Central and Eastern Europe. GTC now actively manages a commercial real estate portfolio of 42 commercial buildings providing 698,000 sq. m of lettable office and retail space in Poland, Budapest, GTC Bulgaria Bucharest, Belgrade, Zagreb and Sofia. In addition, GTC has a development pipeline of 388,000 sq. m retail and office properties. www.gtc.bg

Gugushev & Partners is one of the leading law firms in Bulgaria. It has been chosen for The Best Law Office in Bulgaria for 2015 and 2017. The main areas of practice are in the field of Corporate and Commercial Law, M&A, Banking and Finance, Tax Law, Real Estate, Energy, IP and Dispute Resolution. The law office provides great and innovative legal solutions, integrated with excellent customer service and business judgment. It is Gugushev Partners Law Office a member of LEXWORK International and PONTES Legal Network. www.gugushev.com

Helios Power is a Bulgarian shareholding company est. in 2000. We are an investment, managing and consultancy company, specialized in the development of renewable projects. Helios Power has incorporated several SPV companies. Each of them developed and now operates photovoltaic project in Bulgaria, with a totaling capacity HELIOSPOWER of app. 20 MW, as well as hydropower production unit. Also, the company holds Helios Power Jsc several packages of shares in companies and joint ventures in general and investment consultancy, energy, construction, financial brokerage, etc. www.heliospower.bg

Hewlett Packard Enterprise is a technology leader focused on developing intelligent solutions to allow customers capture, analyze and act upon data seamlessly from edge to cloud. HPE enables customers to accelerate business outcomes by driving new business models, creating new customer and employee experiences, and increasing Hewlett Packard Enterprise operational efficiency. HPE Bulgaria is one of the largest and continuously growing HPE sites providing flaw- Global Delivery Bulgaria Center less customer service, consultancy, supply chain operations, project management and www.hp.com/bg business analysis.

For the last 6 years HRS Bulgaria has grown into a trusted HR partner of more than 250 Bulgarian and multinational companies. Providing staffing and payroll services to big and small clients, the company is now among the top 3 leaders in the HR sector and has supported numerous candidates in their professional journey.

HRS Bulgaria It’s safe to say HRS is all about matching great people with inspiring business projects, what the company thrives from is mutual trust and commitment. www.hrs-bg.com

AMCHAM BULGARIA | YEARBOOK 2018 XL member directory

AMCHAM BULGARIA | YEARBOOK 2018 XLI member directory

A landmark located in the heart of the Bulgarian capital, Hilton Sofia has 245 spacious rooms, including 16 Park Executive Suites and extraordinary Presidential Suite. Get to work in our meeting rooms or business center, escape it all with a trip to our spa or enjoy a refreshing drink at Artists bar. For conferences and banqueting our meeting facilities provide 7 meeting rooms with daylight and a ballroom to accommodate up Hilton Sofia to 300 delegates. Seasons Restaurant features a combination of local and international cuisine in a relaxed, yet trendy setting which opens onto a summer terrace with www.sofia.hilton.com Vitosha Mountain view.

Honeywell is a Fortune 100 company with $40.5B in sales. Honeywell invents and manufactures technologies that address some of the world’s most critical challenges around energy, safety, security, productivity and global urbanization. We are uniquely positioned to blend physical products with software to support connected systems that improve homes, buildings, factories, utilities, vehicles and aircraft, and that Honeywell Bulgaria enable a safer, more comfortable and more productive world. Our solutions enhance the quality of life of people around the globe and create new markets and even new www.honeywell.com industries..

HP Inc Bulgaria EOOD is a subsidiary of HP Inc, USA which is one of the leading providers of personal computers and printers in the world, based on unit volume shipped and annual revenue. HP Inc Bulgaria provides via its channel partners commercial PCs, consumer PCs, workstations, and other related accessories, software, and services for the commercial and consumer markets in Bulgaria. HP Inc Bulgaria is the leading HP Inc Bulgaria EOOD imaging and printing systems provider in the country for consumer and commercial printer hardware, printing supplies, printing media and scanning devices and services. www.hp.com

Hydroenergy Company JSC began as Hydroenergostroy – a construction company established in bulgaria in 1998. We have been expanding ever since and currently we have more than 430 employees with offices in Bulgaria, Chile, United Kingdom, United States of America, Japan and Greece. In 2002, the company expanded its scope of services by adding construction of hydropower plants to its portfolio and becoming a Hydroenergy Company JSC leader on the Bulgarian market. www.hydroenergycompany.com

I&G Insurance Brokers Ltd. is a leading provider of insurance and reinsurance services and risk management solutions in Bulgaria. I&G Insurance Brokers is part of ASIGEST HOLDING, a company which is emerging as one the leader independent insurnce bro- ker with main offices in the HQ of Biella and Roma, London, Hamburg, Casablanca, Bucharest, Istanbul, Belgrade, Sofia. Asigest Holding has the aim of consulting in I&G Insurance Brokers Ltd insurance small, middle and large clients with offices in 9 countries , 12 languages , using the experience of over 1,000 experts. www.iandgbrokers.com

AMCHAM BULGARIA | YEARBOOK 2018 XLII member directory

IBM is a global technology and innovation company headquartered in Armonk, NY. It is the largest technology and consulting employer in the world, with more than 65 years of being a leader in bringing innovation to the Bulgarian business. Today, IBM is much more than a “hardware, software, services” company. IBM is now emerging as a cogni- tive solutions and cloud platform company. IBMers are helping transform healthcare, IBM Bulgaria improving the retail shopping experience, rerouting traffic jams and even designing the next generation fan experience in sports stadiums around the world. We’ve been www.ibm.com/bg digital leader for more than a century.

“Ideal Standard - Vidima” AD is the biggest organization within Ideal Standard International - one of the world’s leading manufacturers of high-quality residential, commercial and healthcare bathroom solutions.

“Ideal Standard – Vidima” AD is based in Sevlievo. The Bulgarian company manufac- Ideal Standard - Vidima AD tures sanitaty fittings and sanitaty ceramics, and manages finance and IT activities for Ideal Standard International, sales and commercial activities in East Europe. www.idealstandard.bg

Imperial Tobacco is an international fast moving consumer goods company with a strong track record of creating value for our shareholders. Our core business is built around a tobacco portfolio that offers consumers comprehensive brand choice. We are also creating new consumer experiences through our non-tobacco products. We are present on the Bulgarian market for more than 15 years now. Our motivated and goal Imperial Tobacco Bulgaria EOOD oriented team is always focused on providing high level of service to our clients and our consumers. www.imperial-tobacco.com

Industrial Holding Bulgaria is one of the largest Bulgarian industrial groups. The investments are in maritime transport, shipbuilding, ship repair, ship design, port activities, machine building-metal cutting machines, foundry production, industrial project management. Main companies of IHB group are: Bulyard Shipbuilding Indus- try; IHB Shipping operates 5 cargo vessels of total 165,000 DWT; three ports-KRZ Port Industrial Holding Bulgaria Bourgas, Odessos PBM Varna and Bulport Logostics, Varna; IHB Shipdesign, Varna and ZMM Bulgaria Holding. IHB is listed on BFB and is part of the main stock exchange www.bulgariaholding.com indices SOFIX and BGBX 40.

Ingram Micro helps businesses fully realize the promise of technology —helping them maximize the value of the technology that they make, sell or use. With its vast global infrastructure and focus on cloud, mobility, technology lifecycle, supply chain and technology solutions, Ingram Micro enables business partners to operate more efficiently and successfully in the markets they serve. Ingram Micro SSC EMEA EOOD www.ingrammicro.com

AMCHAM BULGARIA | YEARBOOK 2018 XLIII member directory

Intelligent Systems is an international consultancy company delivering business software solutions and related services to local and foreign organizations. We have offices in Sofia, Varna, Tirana, Albania and Istanbul, Turkey. Fully focused on Microsoft Dy- namics products, our specialists help more than 400 companies in over 55 countries worldwide to digitally transform their businesses via the newest achievements in IT. Intelligent Systems Bulgaria EOOD In 2016 the company became part of Microsoft’s Inner Circle - the highest recognition www.isystems.bg given to only 60 out of more than 10000 Microsoft Dynamics Partners worldwide.

The icon of international modern luxury in Sofia, vibrant with 7,000 years of civilisa- tions.

The capital’s ultimate luxury hotel delivers landmark location adjacent to the primary leisure attractions, government and business buildings. The hotel’s 194 rooms and InterContinental Sofia suites deliver elegant interior with variety of modern facilities. InterContinental Sofia offers 5 multifunctional meeting rooms accommodating up to 240 delegates, all with www.intercontinental.com/sofia natural daylight. Floret Restaurant and Bar delights local and international culinary enthusiasts with signature dishes and cocktails.

ICB has been providing a wide range of digitalization and software solution services to leading companies worldwide for more than 22 years. Our core competencies are in Digital Transformation, Industrial Internet of Things (IIoT), as well as Augmented Reality (AR) and Virtual Reality (VR) application development. We focus on C#/.NET development and applying the Microsoft technology stack. InterConsult Bulgaria Ltd. In 2016, ICB was selected by Microsoft to co-found and run the Microsoft Innovation www.icb.bg Center in Sofia Tech Park, Bulgaria together with Microsoft Bulgaria.

INTERLANG has a proven track-record and solid reputation on the Bulgarian and international translation services market. We provide a comprehensive linguistic package, including translation, localisation, interpreting, transcreation and legalisation. INTERLANG specialises in the translation of all major languages INTO Bulgarian and VICE VERSA in different fields: community and national law, finance, medicine and

C - 40 C - 0 M - 0 M - 0 InterlangY - 100 Y - 0 Ltd. pharmacy, marketing and advertising, information technologies, technical equipment, K - 0 K - 100 telecommunications, corporate and personal documents, public procurement etc. www.interlang.net

Intertek BA EOOD www.intertek.com

Intertek is a leading Total Quality Assurance provider to industries worldwide. Our network of more than 1,000 laboratories and offices and over 43,000 people in more than 100 countries, delivers innovative and bespoke Assurance, Testing, Inspection and Certifi- cation solutions for our customers’ operations and supply chains. Intertek Total Quality Assurance expertise, delivered consistently with precision, pace and passion, enabling our customers to power ahead safely.

AMCHAM BULGARIA | YEARBOOK 2018 XLIV

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Intracom Bulgaria S.A., a subsidiary of Intracom Telecom, was established in 1995.

Focus: design and delivery of technology and turn-key projects in the telecommunications - mobile and data networks, IT, infrastructure and building management solutions. Intracom Bulgaria EAD Participation: system integration and software projects for the banking and finance www.intracombg.com sector; training and support services.

Portfolio: Wireless Access & Transmission, Telco Software Solutions, ICT Services, Civil & Electromechanical Services.

Investbank JSC is a privately owned, not listed joint-stock company established on December 16, 1994. The bank is a licensed investment intermediary, exclusive primary- market dealer of government securities, and registered custodian bank under the Law for Social and Retirement Security. Investbank is a successfully developing universal commercial bank providing complete line of quality financial services to corporate Investbank JSC clients, institutions and individual customers. The branch network of Investbank comprises over 100 financial centers and offices covering the entire territory www.ibank.bg

Investor.BG AD is a leading media company, based in Bulgaria. Its portfolio consists of first-class TV and online media, including the premium business channel Bloomberg TV Bulgaria, the financial information leader online investor.bg, the leading news website dnes.bg, the real estate website imoti.net, the health website puls.bg, the Investor BG AD sports website gol.bg and many others. The online network of the media group reaches 40% of the Internet users. The national TV broadcaster Bulgaria ON AIR is a www.ibg.bg pillar in the media family, including also a radio channel, and two magazines. The portfolio of the media group includes the prestigious VUZF University.

IP Consulting Ltd. European Intellectual Property Office (EUIPO), European Patent Office (EPO) and CPVO. Branch offices: Bucharest (Romania); www.ipconsulting.eu Skopije (Macedonia).

IP Consulting is specialised in the protection of trade marks, patents, utility models, industrial design, copyright and related rights, unfair competition, consumer protection, protection against infringement, border measures, litigation. The team is specialized also in the legislation in the area of pharmacy and food regulation. In our team we have experienced European and bulgarian Patent & Trademark Attorneys, Lawyers. Offering services before

Quintiles and IMS Health have come together to become IQVIA, The Human Data Science Company. Inspired by the industry we help, IQVIA commits to providing solutions that enable life sciences companies to innovate with confidence, maximize their opportunities and ultimately drive human health outcomes forward. We provide actionable solutions by tapping into the power of the IQVIA. IQVIA ∙ Domain Expertise ∙ Advanced Analytics ∙ Unparalleled Data ∙ Transformative Technology

AMCHAM BULGARIA | YEARBOOK 2018 XLVI member directory

ISAaudit Ltd. (est. 1999) and is now the 7th largest local firm in Bulgaria. It is specialized in provision of audit & assurance services; management consulting, financial advisory and taxation services; accounting, payroll and HR services. ISAaudit Ltd. is a member of RSMI - the 6th largest audit, tax & advisory network in the world. RSMI members are represented in over 90 countries and bring together the talents of over ISAaudit Ltd. 3,100 partners and over 32,600 individuals in 900+ offices globally. Our services are in accordance with a confirmed and unified methodology and approach and of highest www.isaaudit.bg quality by strictly following generally accepted principles of loyalty and professional expertise.

ITA Engineering Ltd was established in 1990. Through its long standing successful work on the Bulgarian market, the company is now one of the leading companies in the field of engineering and system integration.

We are distinguished for high quality, precision and short terms performance. ITA Engineering Ltd. Our company is correct and promising partner with focus on the interests of the www.itaengineering.com clients. We can grant our clients will receive the needed co-operation during the whole process from the research phase and design to final realization and putting into exploitation of the system.

Janev & Janev is a leading strategic communications consultancy, established in 1993. We provide a full range of communication services for local and international companies. The company has gained extensive experience in the corporate, political and non-governmental sectors. We have a successful track record in projects, supporting the reforms in the banking, health care and pension sectors and funded by the Janev &Janev EU Commission, the World Bank and the USAID in Bulgaria. The company is a member of the international PR group – The Worldcom Group ® and is a co-founder of the www.janev-janev.com Bulgarian Association of PR agencies.

JTI is a leading international tobacco company with operations in more than 120 countries. It is the global owner of both Winston, the number two cigarette brand in the world, and Camel outside the USA and has the largest share in sales for both brands. With its internationally recognized brand Logic, JTI is also a major player in the e-cigarette market and has, since 2011, been present in the heated tobacco category Japan Tobacco International Bulgaria with Ploom. The company employs close to 40,000 people and was awarded Global Top Employer for four consecutive years. JTI is a member of the Japan Tobacco Group. www.jti.com

JobTiger is a company for comprehensive HR services. The company created the first job board in Bulgaria in 2000 and over the years it expanded its services and became a well-known HR agency with innovative and efficient approach to the market. In addition to the recruitment services, it also is the biggest organizer of events in the country including the largest career forum in Bulgaria - “National Career Days”, as well as the JobTiger Ltd. first Bulgarian online career forum - “Virtual Career Days”. www.jobtiger.net

AMCHAM BULGARIA | YEARBOOK 2018 XLVII member directory

Belongs to the Johnson & Johnson family, one of the most comprehensive and broadly-based manufacturer of health care products. Johnson & Johnson has more than 250 companies located in 57 countries around the world. The Company has products in different fields of medicine dealing with pharmaceutical, medical devices and consumer goods. Johnson & Johnson Bulgaria EOOD

Jobs.bg is the primary source for career information in Bulgaria. Its audience by far exceeds the combined audiences of all other career-related sites. Jobs.bg is used by all businesses in Bulgaria, both large multinationals and small businesses, as their primary and in most cases sole channel for attracting qualified candidates (it is used by more than 75000 companies publishing more than 40000 job opportunities Jobs.bg EOOD monthly; over 2 million applications are sent through the site monthly). Jobs.bg is Superbrand for 2007-2008, 2009-2010, 2012-2013, 2015-2016 and 2017-2018. www.jobs.bg

JA Bulgaria is leading organization with established reputation for providing cutting- edge educational programs for 6 to 26 old students in entrepreneurship, financial literacy and employability skills. It reaches 40,000 students annually and involves 1,000 business mentors and 3000 teachers, based on the “learning by doing” method and use of interactive digital content. In 2018, JAB received “JA Europe Model Organization Junior Achievement Bulgaria Award” for performing at high-quality standards, recognized among 40 organizations within the network. JA Bulgaria is a member of JA Europe and JA Worldwide, celebrat- www.jabulgaria.org ing its centennial in 2019 globally.

KAI Group is one of the largest manufacturers of floor and wall ceramic and porcelain tiles in SE Europe, constitutes of two production units with an annual capacity of over 28 million sq. m.

The Group has subsidiaries in Romania and Greece, operating under two brands - KAI Group KAI and Ceramica Fiore. www.kai.bg Since 2015 KAI group is part of Mohawk Industries - the largest manufacturer, distributor and marketer of ceramic tile and natural stone globally, running brands like Daltile, American Olean, Marazzi, Ragno, KAI, Emilgroup, Polcolorit, Kerama Marazzi, Eliane.

Kambourov & Partners (KP) is a leading Bulgarian law firm with 30 years of unique experience and insight. Over the years, the firm evolved into a full-service one, thus offering its clients any type of legal support they may require in the course of their business. Nowadays KP provides legal support under the Bulgarian jurisdiction to domestic and international clients within various practice areas, including Corporate, Kambourov & Partners Attorneys at Law M&A, Competition, Energy, Banking, Finance, Employment, IP, TMT, Litigation/Arbitra- tion, Restructuring/Insolvency, Real Estate, Tax, etc. www.kambourov.biz

AMCHAM BULGARIA | YEARBOOK 2018 XLVIII part of jobs.bg member directory

The history of Kamenitza AD began in 1881 with the creation of Bulgaria’s first beer - Kamenitza. The company is the founder of the brewing industry in the country and carries more than 137 years of quality and rich brewing traditions. Today Kamenitza AD is one of the leading brewing company in Bulgaria. Its portfolio includes local brands Kamenitza, Astika, Burgasko, Slavena, as well as leading international licensed brands Kamenitza AD Stella Artois, Beck’s and Staropramen. Among the imported brands are Leffe Blonde, Leffe Brune, Hoegaarden, Carling and Corona. www.kamenitzacompany.bg

Katilin Popov Enforcement Officers is focused mainly on working with corporate clients who have unsatisfied judgments against debtors in Bulgaria or abroad by providing judgment enforcement services. We provide complex and customer shaped judgment enforcement services in compliance with the best practices in the field. We also offer guardianship and management of collaterals service. Katilin Popov Enforcement Officers www.ppofficers.com

Ideally positioned right across the Gondola lift station, the five star luxury hotel features 157 Alpine-style rooms including 24 suites and an exclusive Presidential Suite, fully renovated Kempinski The Spa with outdoor and indoor swimming pool, superb meeting facilities and 3 restaurants with spectacular views of the majestic Pirin Mountains. The hotel comprises 4 ful ly renovated conference rooms up to 180 Kempinski Hotel Grand Arena Bansko pax and is the only Kempinski hotel in Bulgaria. It provides VIP ski passes to its guests, which guarantee direct access to the Gondola. The hotel is awarded by the World www.kempinski.com/bansko Travel Awards as Bulgaria’s Leading Resort for 2017.

Kinstellar is a leading independent law firm in Emerging Europe, Turkey and Central Asia, with offices in Almaty (Kazakhstan), Belgrade (Serbia), Bratislava (Slovakia), Bucharest (Romania), Budapest (Hungary), Istanbul (Turkey), Kyiv (Ukraine), Prague (the Czech Republic), Sofia (Bulgaria) and Tashkent (Uzbekistan). Founded as a spin- off from Magic Circle law firms, Kinstellar operates as a single fully integrated firm and Kinstellar delivers consistently high quality services across all jurisdictions in an integrated and seamless style. www.kinstellar.com

Law Firm Kolcheva, Koev and Partners has been established as Novel Consult in 1994. Currently, the firm comprises six partners, associates, zoning and urban planning expert engineer, paralegal assistants, licensed translators and other staff. We have managed to create a team of professionals with different backgrounds and experience, fully devoted to our clients’ needs. We provide services in English, German, French, Kolcheva, Koev and Partners Law Firm Russian and Bulgarian. We pride ourselves in investments, real estate, energy law, labour and social welfare, banking and financing of projects, commercial disputes, www.novelconsult.net bankruptcy and enforcement of creditors’ claims.

AMCHAM BULGARIA | YEARBOOK 2018 L member directory

KONTRAX JSC is a leading system integrator in Bulgaria and one of Top 10 companies on the ICT market in the recent years according to the IDG ratings. KONTRAX JSC is exclusive partner for Bulgaria of the US Corporation General Dynamics and offers wide range of products and services in the field of defense and public safety.

Kontrax Jsc. KONTRAX is also a group of companies specialized in ICT, software development, distribution, engineering, outsourcing, Internet delivery, stationery and furniture, www.kontrax.bg congress tourism and manufacturing.

KPMG in Bulgaria is a leading professional services firm with over 300 professionals in our offices in Sofia and Varna. Our Audit services are designed to comply with both group audit and local statutory audit requirements enhancing the reliability of financial information. Our Tax & Legal advisors offer services in Corporate and Indirect Tax, Transfer Pricing, Tax & Bookkeeping Outsourcing, and Business Law. Our Advisory KPMG in Bulgaria practice provides informed perspectives in Deal Advisory, Forensic and Consulting. www.kpmg.com/bg

LANDMARK is a property investment and management company that has made a decisive entry into the local real estate market in 2005 by acquiring several prime property assets throughout Bulgaria and neighboring countries. Our objective is to secure prime property assets and to serve the real estate needs of key occupiers while they focus on their core business. We are a full-service provider in asset and facility LANDMARK Property Management AD management. Our team combines an excellent understanding of the real estate market and field experience, to provide clients with knowledgeable, creative solutions www.landmark.bg to their real estate needs.

Law and Internet Foundation is an NGO & research centre which performs applied studies, scientific researches, programmes and projects in the field of legal, technological, economic and social issues related to the fast penetration of ICT. Our mission is to contribute to the transformation of society to meet the challenges of the digital world, and to assist the development of legislation on digital environment through Law and Internet Foundation legal analyses and ethical reviews, promotion of education, equality, protection of children from abuse. www.netlaw.bg

McGregor & Partners is a boutique commercial law firm in SE Europe, with offices in Bucharest and Sofia. The firm is managed by experienced Bulgarian and Romanian lawyers, headed by a British solicitor with some 16 years’ experience in the region. Our team now consists of five partners, sixteen other lawyers and our support staff, including officially-authorized legal translators. Our firm holds a consistent professional insurance cover, and the firm’s trustworthiness and Law Firm McGregor & Partners efficiency is currently certified according to EN ISO 9001:2008 standards. www.mcgregorlegal.eu

AMCHAM BULGARIA | YEARBOOK 2018 LI member directory

Lindner Immobilien Management EOOD is a wholly owned subsidiary of the Lindner Group, Germany. Lindner Immobilien Management EOOD is in charge of the investment and construction control, project development and project management of the large-scale investment projects of the Lindner Group in Bulgaria as well as of other Lindner Immobilien Management EOOD Bulgarian and foreign investors. www.lindner-im.com

The Lirex.com companies (Lirex BG, Lirex BS, Lirex High Tech, Lirex Skopje) are leaders in the information technology field. We offer consulting, technology and outsourcing services, design development, and support of ICT solutions and systems. We also offer support and maintenance of computer, network and office equipment. We are committed to enabling our clients to achieve their business goals through mastering and Lirex effectively applying information and communication technologies. www.lirex.bg

Lockheed Martin is an American global aerospace, defense, security and advanced technologies company with worldwide interests. Lockheed Martin has four business areas: Rotary Mission Systems, producing helicopters and ground based and airborne advance systems, Aeronautics, Missile Fire Control and Space.

Lockheed Martin

M3 Communications Group, Inc., the Hill+Knowlton Strategies exclusive partner in Bulgaria, is a leading PR company.

Its portfolio includes Public Relations and Public Affairs, creative strategies and copy- writing, graphic and web design, media monitoring and analysis, event organization, M3 Communications Group, Inc. crisis communications, CSR, traditional and social media relations, digital communications and web development, PR and media training. www.m3bg.com CEO of the company is Maxim Behar – globally renowned PR professional, President of the World’s PR Organisation (ICCO) from 2015 to 2017, founder and former Presdent of Bulgarian Business Leaders Forum.

Based in McLean, Virginia, Mars has net sales of more than $30 billion and six business segments including Petcare, Chocolate, Wrigley, Food, Drinks and Symbioscience. Approximately 70,000 Associates worldwide are putting the Mars Principles in action every day to make a difference for people and the planet through their performance. Mars brands include: Petcare – PEDIGREE®, WHISKAS®, SHEBA®, CESAR® and Mars Incorporated Bulgaria EOOD ROYAL CANIN®; Chocolate – M&M’S®, SNICKERS®, DOVE®, GALAXY®, MARS®, MILKY WAY® and TWIX®; Wrigley – ORBIT®, EXTRA®, STARBURST®, DOUBLEMINT® www.mars.com and SKITTLES®; Food – UNCLE BEN’S®, DOLMIO®, MASTERFOODS®

AMCHAM BULGARIA | YEARBOOK 2018 LII

member directory

MARSH BULGARIA is 100% subsidiary of MARSH LLC. the global leader in risk management and insurance related services, with 530 offices in 160 countries. In Bulgaria our 50 professionals are servicing over 340 long-term corporate clients, mainly sizable foreign investors. Marsh offers a full range of risk management, insurance advisory and management consulting services. Marsh Bulgaria is also responsible for the Marsh LLC. business in Macedonia and Albania, representing the services of the entire MMC group. Marsh LLC is part of Marsh & McLennan Companies the premier global professional www.marsh.com services company.

MasterCard is a technology company and payments industry leader. For more than four decades, we have been a driving force at the heart of commerce, making the global economy safer, more efficient, more inclusive and more transparent for all.

Consumers, merchants, business partners and governments in markets around the Mastercard Europe SA world have reaped the benefits of our innovative products and solutions. www.mastercard.com/bg/consumer/ Our mission is to use our technology and expertise to make payments safe, simple and smart. Our vision - to create a world beyond cash.

MBL is a leading commercial property and real estate services company, providing a full range of commercial property services. The company has built a solid reputation in the real estate market in Bulgaria and offers complex solutions in the field of commercial real estate, both local and international clients - investors, financial institutions, investment funds, retail chains and tenants. MBL provides a full suite of MBL services including valuations, investment sales and acquisitions, representation of tenants and landlords of commercial, office and industrial spaces, land transactions www.mbl.bg and property management.

MEGATRON EAD is the exclusive distributor within the territory of Republic of Bulgaria of worldwide leading producers - JOHN DEERE, KUHN, BOBCAT, DOOSAN and co-operates with other leading European producers related to the covered market segments. The company’s main business activity is marketing, distribution and service of Agricultural, Golf, Turf, Industrial, Construction and Forestry equipment. Megatron EAD www.megatron.bg

Mellon Bulgaria EAD was founded in 2001 in Sofia. The company offers Technology Solutions (ATMs, POS, Card Systems, Contact Centre Services, Debt Recovery Services and Business Process Management Services. Mellon’s offering addresses the needs of organizations with strong consumer business such as Retail banks, Financial Services, Public Utilities, Telecommunications Providers etc to operate more efficiently Mellon Bulgaria EAD and competitively, representing international leading companies such as Ingenico, Diebold-Nixdorf, Fiserv, NemoQ, Thales e-Security, Matica, NEC etc. Mellon has been www.mellongroup.com benchmarked and awarded by top international organizations including Europe’s 500 Entrepreneurs for Growth, Best Workplaces, European Business Awards and Contact Center World Awards.

AMCHAM BULGARIA | YEARBOOK 2018 LIV member directory

For more than a century, MSD, a leading global biopharmaceutical company, has been inventing for life, bringing forward medicines and vaccines for the world’s most challenging diseases. MSD is a trade name of Merck & Co., Inc., with headquarters in Kenilworth, N.J., U.S.A. Through our prescription medicines, vaccines, biologic therapies and animal health products, we work with customers and operate in more than Merck Sharp &Dohme Bulgaria 140 countries to deliver innovative health solutions. www.msd-bulgaria.com We also demonstrate our commitment to increasing access to health care through far-reaching policies, programs and partnerships.

Metalvalius LTD. (VIOHALCO group) began its recycling operations in Bulgaria in 2004, the main activity of the company is trading and processing of secondary raw materials. Metalvalius provides waste management services to all kind of private industries & public organizations.

Metalvalius EOOD www.metalvalius.bg

With over 150 years of experience MetLife, is a leading global provider of insurance, saving and employee benefit programs. We hold leading market positions in the USA, Japan, LatAm, Asia, EMEA. MetLife brand trusted by approximately 100 million customers worldwide and serve more than 90 of the top 100 FORTUNE 500® companies in USA. MetLife Europe - Bulgaria Branch The Bulgarian operation was established in 1999 with an Agency, Independent Bro- kers and Employee Benefits channels. MetLife has leading positions here by offering a www.metlife.bg broad range of individual and group life insurance products.

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

Microsoft Bulgaria Microsoft opened its office in Bulgaria in 1999. Microsoft Bulgaria is the leading private investor in Bulgarian education with annual investment of over 200 000 USD in www.microsoft.com/bulgaria projects on educators’ professional development, innovative schools, online platform for communication and cooperation, as well as career support for youth.

Miltech Ltd. information equipment, specialized network. www.miltech-bg.com

Miltech Ltd. is a Bulgarian company established in 1998. The company is exclusive partner for Bulgaria of the US Corporations Lockheed Martin and Harris, offers wide range of products and services in the field of defense and civil communications. For the last couple of years Miltech Ltd. becomes a partner of number of other confirmed companies as: API, Aviat Networks, HYTERA, KEYMILE, PANASONIC TOUGHBOOKS, EMS Satcom, PELI, McDow- ell Research, Ultralife Corporation, B&W International, Savi, Nortel and other that are leading manufacturers of communication and

AMCHAM BULGARIA | YEARBOOK 2018 LV member directory

Minstroy was established on January 12, 1952, and is now among the largest companies in the Republic of Bulgaria. The company is experienced in the field of mining of metal ores; industrial, civil and power construction; as well as the electricity production using renewable energy sources. Moreover, Minstroy has the necessary licensing documents permitting work on NATO and EU projects that require access to classified Minstroy Holding Jsc information. www.minstroy.com

Mnemonica specializes in providing data protection system, information security compliance solutions, cloud and managed services. Among its customers are the top 10 financial institutions, utility companies and telecoms in Bulgaria. Since 2009, Mnemonica has successfully implemented 600+ projects for 100+ customers thus positively impacting the work of 100 000+ employees. Since 2017, Mnemonica’s team Mnemonica JSC has been helping companies to get GDPR compliant. As of 2018 the company is a member of IAPP. www.mnemonica.bg

Modis is a global leader in professional solutions for IT, Engineering and Life Sciences. In Bulgaria, the company provides IT Service Desk, Data Center and Network Services, End-User Device Support (Desktop & Mobile), Application Development and Support and BPO Solutions to customers from around the globe.

Modis Bulgaria With more than 20 years of experience, Modis is present in Europe, North America, Asia and Australia. The company connects the smartest people and brightest busi- www.modis.com/en-bg nesses to the opportunities they need to thrive.

Monbat is a vertically integrated economic group that operates under two main business segments - Lead-Acid batteries and Li-Ion high-power solutions. With worldwide presence in over 60 countries and more than 20 different applications and industries, it is among the strongest economic groups in the country. Monbat AD is listed on the Premium Equities Segment of the Bulgarian Stock Exchange – Sofia. Monbat AD www.monbatgroup.com

Mondelēz International, Inc. (NASDAQ: MDLZ) empowers people to snack right in approximately 160 countries around the world. With 2017 net revenues of approximately USD 26 bn, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud Mondelez Europe Services GMBH - Bulgaria Branch member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. www.mondelezinternational.com

AMCHAM BULGARIA | YEARBOOK 2018 LVI member directory

Moto-Pfohe is the official importer and dealer of Ford, Volvo, Jaguar and Land Rover in Bulgaria, specialized in the sale of cars, service and spare parts. The company network covers 16 Bulgarian cities - Sofia, Plovdiv, Varna, Burgas, Russe, Stara Zagora, Pleven, Veliko Turnovo, Gabrovo, Dobrich, Montana, Blagoevgrad, Haskovo, Shumen, Pazardshik and Smolyan. Moto-Pfohe Ltd. The company group Moto-Pfohe provides the whole range of mobility services, incl. www.motopfohe.bg financing orf hire purchase and leasing, insurances, long and short term rentals.

Alex Nestor, VP of Canada Bulgaria Business Network and AmCham’s Co-Chair of Energy and Mineral Resources Committee. More than 30 years of global experience in Canada, USA, Bulgaria, Russia, and Kazakhstan. Held various executive positions in PA, PR, corporate management, project management, engineering, construction in mining, metallurgy, petrochemical, and nuclear sectors. Well connected with a wide Mr. Alex Nestor network of government officials, politicians, business community, NGOs, media and worked with 5 consecutive governments in Bulgaria.

David Hampson, Ph.D. (Stamford University) has worked in the US Government, Aca- demia and the Private Sector. He has extensive experience in International Business in project development and consulting in South America, Africa and Europe. He has worked on a U.S. Presidential Transition Team; on White House Advance; co-chaired President Clinton’s visit to Bulgaria. His interests are in Risk Analysis, Organizational Mr. David Hampson Change and Unobtrusive Measures. Currently he is focusing on the empirical base required for a functioning Policy Think Tank and the potential of Bulgaria as a base for www.technologytransfer.bg Technology Development, the creation of a Knowledge Economy, the Commercializa- tion of Innovation and Intellectual Property.

Ivaylo Taskov, CFA is a US citizen and a financial professional with strong relations to leading US and Bulgarian companies; a member of the CFA Institute and the New York Society of Security Analysts (NYSSA). He manages Global Financial Consulting (GFC) since 2006. Project manager for a structured shopping mall development investment with an Irish fund and a developer for AES Solar. GFC developed 5 PV projects over Mr. Ivaylo Taskov, CFA 22MWp and built a 2.64MWp PV Park. Partner for Bulgaria of Lindal Cedar Homes, Seattle, WA.

Nikolay Ouzounov is a Sofia-based US-licensed attorney who has broad transactional and disputes experience from both the United States and Europe. Nick began his career at a Chicago law firm where he practiced international trade law. Upon arrival in Bulgaria, Nick joined the Sofia office of CMS Cameron McKenna where he focused on cross-border transactions and international disputes. Subsequently, he launched his Mr. Nikolay Ouzounov own practice concentrating on international disputes and transactions with focus on venture capital deals and early-stage technology companies.

AMCHAM BULGARIA | YEARBOOK 2018 LVII member directory

Kalinka Kovatcheva is President CEO of three successful companies with own well- developed network in EU, USA, Russia and SE Europe. European Defense Systems JSC: Export, Import and Transfer of Weapon Systems & Ammunitions. It represents Lockheed Martin Corporation for the relations with the Government of Bulgaria. Alter Ego Company EOOD: Lobbying, Corporate and Political PR, Image Making, Media Rela- Ms. Kalinka Kovacheva tions and Event Management. PartnerLink EOOD: Business Development Consultancy, Transfer of Technologies and Commercialization of Innovative Products.

Individual member

Ms. Maria Vranovska, MD, MBA Individual Member

Certified public accountant, member of the ICPAB. More than 20 years of intensive audit experience. Lecturer of IFRS, ISO 9000:2000 Lead Auditor Certification from AUBG - Management of European Project USA experience as a Realtor with Coldwell Banker Residential Brokerage Washington, DC Internal auditor with IND -Washington DC Member of Audit committee of MMMF - Washington DC. Ms. Margarita Radeva, CPA Services offered:

∙ Independent financial audit of financial statements and all kinds of financial information; ∙ Real estate consultation and logistics

Advising on Bulgarian corporate and commercial law, as well as English and American business law. Practice areas: M&A, private equity, public procurement, technology, data protection and security, IP&IT, renewable energy and natural resources, EU project finance, capital markets, telecoms, lifesciences. Experienced in advising multinational corporations on large-scale transactions of EUR 20 M like the public Ms. Zlatina Ruseva-Savova, LL.M., MBA procurement tender award participation in the Bulgarian environment and water sector (incl. under the FIDIC terms of contract) under EU co-financed projects, or the www.rslaw.eu assignment of rights in software.

Established in April 1996 as a universal commercial bank, Municipal Bank AD has a leading position in public finance, with a market share of 31.40% in local government loans and 33.26 % in local government deposits as of December 2017. The main shareholder is an investment fund registered in Liechtenstein - Novito Opportuni- ties (67.65%). With an experienced management team the bank is focused on Municipal Bank AD sustainably developing its retail, corporate and municipal banking share. The bank operates through its 80 points of sales all over the country. www.municipalbank.bg

AMCHAM BULGARIA | YEARBOOK 2018 LVIII member directory

Musala Soft is a software services company. It is specialized in IT consulting, solution development and implementation, and delivery of complex large-scale software projects. Musala Soft has more than 18 years of experience in providing software services, covering the whole product or solution development lifecycle. Musala Soft is certified in the international standards ISO 9001:2008, ISO 27001:2005, ISO 14001:2004. Musala Soft AD Musala Soft expertise includes strong track record in some of the most challenging and fast growing industries: ICT, Telecom, Finance and Government. www.musala.com

Our mission is to spark children’s curiosity towards science and learning through interactive play. We aim to inspire kids to explore the wonders of science, technology and art. We provoke kids to think, create, learn, risk and succeed, so that they can grow as future leaders and entrepreneurs. All of Muzeiko’s programs and exhibits are developed in line with contemporary trends in education by leading scientists, educa- Muzeiko Foundation tors and designers. The activities are based on the theories of learning through play, multiple intelligences and other techniques for accelerated learning and expanding www.muzeiko.bg kids’ potential.

Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 bn people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what’s right, not what’s easy; and impact the future through passionate global leadership. We offer a growing portfolio of more than 7,500 Mylan EOOD marketed products around the world, including antiretroviral therapies on which more than 40% of people being treated for HIV/AIDS globally depend. We market our www.mylan.bg products in more than 165 countries and territories. We are one of the world’s largest producers of active pharmaceutical ingredients. Every member of our approximately 35,000-strong workforce is dedicated to creating better health for a better world, one person at a time.

The National Network for Children is an alliance of 150 civil society organizations working with and for children and families across the whole country. The Network is established in 2006. We work in partnership with institutions, NGOs and businesses to guarantee the rights of children and to improve their well-being. Only in 2017 the member organizations of National Network for Children the Network had supported 73,624 children, 21,718 families and 11,661 professionals. We do believe that “The change in a child is a change for Bulgaria” and we are open for www.nmd.bg sustainable partnerships with AmCham members and network.

NDB Ltd. is a value-added distributor of the IBM, VMware, Veeam, Citrix and Red Hat software portfolio for Bulgaria. Since the beginning of 2018, NDB Ltd. became a distributor of hardware solutions - IBM Power and IBM Storage. The IBM Technical Exploration Center (TEC) and IBM Cloud Labs, located at NDB’s office, are at the service of current and potential business partners and their customers. NDB Ltd. NDB Ltd. is an authorized training center for VMware and Veeam products. All courses are held by a certified instructor and are conducted in the official programs in Bulgar- www.ndb.bg ian language. NDB Ltd also conducts trainings on IBM Informix, IBM Cognos and Red Hat.

AMCHAM BULGARIA | YEARBOOK 2018 LIX member directory

We are proud to be one of the first independent software houses in Bulgaria with almost 20 years of experience and close to 300 professionals on board. Nemetschek Bulgaria’s teams are known for their professional attitude thus becoming a reliable software development partner to companies worldwide. In addition, we are a stable provider of software solutions on the Bulgarian and regional markets. What we do Nemetschek Bulgaria is run faster than the rest of the world: work with passion, innovate the future and make ideas turn into reality. We develop solutions that advance the present and give www.nemetschek.bg freedom of your business creativity.

NOVOTEL Sofia is part of AccorHotels, the world’s leading hotel operator and market leader in Europe, present in more than 100 countries with nearly 4,500 hotels. NOVOTEL Sofia has 178 modern rooms, 6 meeting rooms, a restaurant, bar and a gym. The hotel benefits from its strategic location in one of the fastest developing business areas of Sofia, on the city’s main arterial road Tsarigradsko Shosse Blvd. at 6 km from Novotel Sofia the city center and only 5 km from Sofia Airport. The hotel is adjacent to The Mall, one of Sofia’s biggest shopping and entertainment centers. www.novotel.com/8468

Netinfo is the leading Bulgarian digital media company, reaching over 1 million people on daily basis. The company aims to be an integral part of the daily routine of every digital Bulgarian. Founded in 1998, today the company reaches over 80% of Internet users in the country, according to the data from Gemius. Net Info www.netinfocompany.bg

NOVACON is a leading and well-reputed payroll & accounting company, providing high-quality professional payroll, accounting & tax services to companies from various industries operating in Bulgaria, such as IKEA, Pepco, Porsche, Intersport, Colliers, Wizz Air, Edison. Our mission is to provide value to our clients by helping them manage their financial and accounting processes in the best way through quality services, based on Novacon Bulgaria Ltd. the highest professional and ethical standards. NOVACON has implemented a QA system for payroll, accounting & tax advisory services in accordance with ISO 9001:2015, www.novacon.bg certified by LRQA UK.

Oiltanking is one of the world’s leading independent storage partners for oil, chemicals, gases and dry bulk. Oiltanking owns and operates 81 terminals in 23 countries with a total storage capacity of 21 million cubic meters. Oiltanking Bulgaria is established in 1999 and operates a terminal for chemicals storage at Port of Varna - West with a total capacity of 24 000 m3 - a vital connection between 3 of the biggest Oiltanking Bulgaria AD chemical producers in the country. www.oiltanking.com

AMCHAM BULGARIA | YEARBOOK 2018 LX MEET WITH success AT NOVOTEL

115N Tsarigradsko Shosse Blvd., 1784 Sofia, Bulgaria + 359 2904 3000, E: [email protected]

www.novotel.com member directory

On Bulgaria Ltd. is a real estate company that has been acting in Bulgaria for the last 19 years. Our next project River Park located on the right side of the road to Simeonovo cabin lift is a luxury green residential complex containing 300 houses (private, twin and row houses).

On Bulgaria Ltd.

Oracle is shifting the complexity from IT, moving it out of the enterprise by engineering hardware and software to work together—in the cloud and in the data center. From servers and storage, to database and middleware, through applications, each layer of the stack comprises best-of-breed products, and every product and layer is designed, optimized, and engineered to work together. Integrated, industry-specific solutions are engineered to address complex business processes for Oracle East Central Europe Limited - Branch Bulgaria a wide range of industries. www.oracle.com/bg

Orak Group Europe Ltd. is an independent software developer of vertical solutions for the retail, hospitality, manufacturing industry and for the public sector and provides integrated branch solutions according to specific business needs of each client in combination with ERP partners. In Bulgaria Orak has implemented vertical solutions to SAP in the fuel distribution, chain fashion stores, Duty Free airport shops, brewing Orak Group Europe Ltd. industry, public administration. www.orakgroup.com

Relocation, Forwarding, Air & Sea, Logistics service provider, Quality Certified: ISO 9001-2008, FIDI FAIM, TAPA FSR, AEO. Member of: FIDI, IATA, FIATA, IAM, Harmony, BAR, IELA, ICEFAT, TAPA EMEA, NSBS, HBCB. Services: Household Goods Removals and Fine art transport; Commercial Fairs & Exhibitions; Air Cargo Service of all commodities; Road Freight services; Ocean Freight - groupage services and full containers; Orbit Ltd. Heavy Haulage and abnormal loads; Warehousing and 3PLogistics; Inventory and Stock Management; Records storage; Customs Brokerage. www.orbit.bg

Panda IP EOOD is specialized in food products, fruit and vegetables supply. We deliver to 38 towns in Bulgaria reaching to over 60,000 people. Among our major customers are institutions, incl. Ministry of Interior, Ministry of Justice, Ministry of Defense, Sofia Municipality, Hospitals and municipal childcare institutions. We have completed contracts with the U.S. Department of State and the NATO Air Forces Southern PANDA - IP Ltd. Command. Also, we own agriculture land in Yambol Region, as well as we trade with Vinolla Wines.

AMCHAM BULGARIA | YEARBOOK 2018 LXII member directory

Paraflow is a leading Bulgarian IT company with over 20 years of experience. As an innovator in the implementation of technological concepts and leader in the deployment of business applications, communications technologies and IT solutions the company is among the primary system integrators on the Bulgarian IT market. Paraflow has successfully implemented projects in the field of corporate information Paraflow Communications Ltd. infrastructure, business intelligence and analysis, mobile sales, cloud computing and information security. www.paraflow.bg

Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com Pedersen & Partners www.pedersenandpartners.com

Penev LLP is a top-ranking law firm providing premium quality legal services in virtu- ally every discipline of the law. With more than 20 years experience since its foundation, Penev LLP has grown to become one of the key partners of foreign investors in Bulgaria, with offices in the three major cities (Sofia, Plovdiv, Varna) and international support based in London, UK. Over the years we have built trusted relationships with Penev LLP international clients (mostly European and North American), including global corporations, major investment and/or commercial banks and governmental institutions. www.penev.eu

Ever since its establishment in 1990, Penkov, Markov & Partners is one of Bulgaria’s leading law firms, providing the highest quality legal advice and representation. Rooted in our rich history is the Penkov, Markov & Partners’ long-standing firm culture and traditions, entirely dedicated to our clients’ needs in all spheres of the law, also warranted by our certification under the ISO 9001:2015 Quality Management System. Penkov, Markov &Partners Since 1996 Penkov, Markov & Partners has been the Bulgarian member of LEX MUNDI, the world’s leading association of independent law firms, allowing us to provide legal www.penkov-markov.eu support to our clients throughout the world.

With more than 150 years of history, Pfizer is the world’s largest research-based pharmaceutical company that discovers, develops, manufactures, and markets leading prescription and non-prescription medicines. Pfizer’s diversified global health care portfolio includes biologic and small molecule medicines and vaccines, and many of the world’s best-known consumer products. Pfizer operates in 150 countries. A Pfizer Luxembourg SARL Branch Bulgaria representative office was established in Bulgaria in 1995. www.pfizer.com

AMCHAM BULGARIA | YEARBOOK 2018 LXIII member directory

Philip Morris Bulgaria EOOD is part of Philip Morris International (PMI), the world’s leading tobacco company. PM Bulgaria has more than 10 years presence on the Bulgarian market with a strong portfolio of brands and more than 80 talented people. Today PMI is dedicated to doing the biggest shift in its 150 years of history towards a smoke-free future. PMI is engaged in development and commercialization Philip Morris Bulgaria EOOD of Reduced-Risk Products - products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes. www.pmi.com

Porsche BG is a subsidiary of the Austrian Porsche Holding Salzburg (PHS). Porsche BG operates as importer of Volkswagen passenger cars, Volkswagen light commercial vehicles and Audi for Bulgaria.

PHS represents the VW Group brands in 21 countries throughout Europe, as in Porsche BG EOOD Colombia, Chile, China, Malaysia, Singapore and Brunei. PHS is 100 % subsidiary of Volkswagen AG since 2011. www.porschebulgaria.bg

Postbank, legally named Eurobank Bulgaria AD, has 27-years’ presence as one of the leaders in Bulgaria’s banking sector. The bank is a decisive factor in innovation, in shaping the country’s banking trends in recent years and award-winning for its innovation. Postbank occupies a strategic position in retail and wholesale banking in Bulgaria. It is one of the market leaders in credit and debit cards, mortgage and con- Postbank (Eurobank Bulgaria AD) sumer loans, saving products, as well as regarding corporate tailored products - from those for small businesses to large international companies operating in the country. www.postbank.bg

PPD is a leading global contract research organization providing comprehensive, integrated drug development, lab and lifecycle m-gmt services. Our clients & partners are pharma, biotech, medical device, academic and government organizations. With offices in 47 countries and 20000 professionals worldwide, PPD uses innovative technologies, therapeutic expertise and a firm commitment to quality to help clients PPD Bulgaria EOOD & partners bend the cost and time curve of drug development and optimize value in delivering life-changing therapies to improve health. www.ppdi.com

Set in picturesque foothills of Pirin Mountain, Premier Luxury Mountain Resort, the only member of Small Luxury Hotels of the World in Bulgaria, is a 5-star hotel in one of Bulgaria’s top skiing resorts in the town of Bansko. PREMIER, awarded as the best Ski Hotel in Bulgaria, offers 111 rooms & elegant suites, along with a fully renovated Spa, which guarantees complete relaxation and rejuvenation. Surrounded by stun- Premier Luxury Mountain Resort ning mountain views and within a walking distance of the ski lifts, PREMIER is also the place where guests can acquire their VIP ski passes. PREMIER’s gastronomy will www.premiermountainresort.com elevate your senses! Welcome to the elite’s choice.

AMCHAM BULGARIA | YEARBOOK 2018 LXIV Защо да се състезаваш с времето, когато можеш да го печелиш?

Новият Audi A6. Това е твоето време. Audi е повече.

#TimeForWhatYouLove

Audi А6 3.0 TDI: комбиниран разход на гориво – 5,6-5,8 л/100 км, CO₂ комбинирани емисии – 146-150 г/км Показаното в изображението превозно средство може да се различава в някои детайли от актуалните, предназначени за България, доставки. Част от показаното представлява опционално оборудване, което се доставя срещу доплащане. member directory

Premier Tours being an American Express Business Travel partner offers the complete range of travel services (inbound and outbound): air tickets, hotel accommodation, rent-a-car, incentive travel, cruises, package and tailor-made trips. It is our primary goal to offer good quality and competitive rates to our client and thus enable and support them to take smart travel decisions. Premier Tours Ltd. www.premiertours.bg

Prestige-96 AD is one of the biggest food producers in Bulgaria and market leader in all the categories in which the company operates - biscuits, wafers and mini cakes with the brands Trayana, Mirage, Roden Krai, Hyper, Troy, Spoko, Naya, Muesli, Nasladki, Prestige Wellness, 100% Power and FRUNU with a total market share of 23%. We pursue an active investment policy to build our strong brands and to develop Prestige 96 AD innovations. Prestige has a new modern world class production plant, for which in 2012 we won the award “Investor of the Year” and “Building of the Year”. www.prestige96.bg

Progress offers the leading platform for developing and deploying strategic business applications. We enable customers and partners to deliver modern, high-impact digital experiences with a fraction of the effort, time and cost. Over 1,700 independent software vendors, 100,000 enterprise customers, and two million developers rely on Progress to power their applications. Progress stepped in Bulgaria in 2014 after its Progress acquisition of Telerik. The Sofia-based office holds the largest number of Progress employees worldwide and serves as an innovation hub. www.progress.com

PSG Ltd. is one of the leading payroll companies in Bulgaria concentrated entirely on the Payroll Services and successfully working on the Bulgarian Market since 1998. The Company is dedicated to assisting businesses in the extensive economic changes taking place in the country today. As a result from its activity, the Company is ready to offer professional services, technical expertise, and creative thinking to meet the PSG Payroll Services Ltd. client’s needs. www.psg-payroll.com

With offices in 158 countries and more than 236,000 people, PwC is among the leading professional services networks in the world. PwC helps organisations and individuals create the value they’re looking for, by delivering quality in assurance, tax and advisory services. PwC is present in Bulgaria since 1992. With a local team of around 200 full-time employees - transaction service specialists, business consultants, auditors, PwC Bulgaria tax experts and HR consultants, PwC Bulgaria help organisations meet the challenges and opportunities of doing business in the Bulgarian market and beyond. www.pwc.bg

AMCHAM BULGARIA | YEARBOOK 2018 LXVI member directory

Raiffeisen Property Holding International is a real estate developer operating in Central and Eastern Europe.

RPHI develop, manage and sell real estate in Austria and other CEE countries. The portfolio of the company, initially specialized in office buildings, now includes a wide Raiffeisen Property Management GmbH range of residential real estate. www.rphinternational.com

Established in 1994 as the first green-field investment in the Bulgarian banking sector, with 100% foreign capital - a subsidiary of Raiffeisen Bank Internationl AG, Vienna.

More than 600,000 clients

Raiffeisenbank Bulgaria EAD Branches: currently: 134 www.raiffeisen.bg Universal bank covering all segments: Corporate Banking (large, medium and small companies, financial institutions and sovereigns, Treasury&Investment) and Retail Banking (private individuals, micro companies and entrepreneurs, affluent customers).

Group of companies with 15 years of experience. We offer integrated and global products in the field of event management. In the scope of our activities are included food delivery for business meetings, basic catering functions on competitive prices, classical receptions, dinners, buffets, exclusive concepts, specific events – festivals, concerts, exhibition, competitions, as well as full event management. Red Devil Catering Plc Red Devil Catering owns modern facility, certified by all international laws. www.reddevilcatering.com

REFAN Bulgaria LTD was founded in 1991 and is a leadingproducer of perfumery and cosmetics. For almost 26 years the trademark REFAN has won recognition both on the Bulgarian and international markets as a symbol of quality, prestige and professionalism.

REFAN product catalog includes a wide variety of items: over 250 perfume fragrances Refan Bulgaria Ltd. for men and women, more than 550 high-quality cosmetic products for face, body and hair, handmade glycerin soaps, magnificent boutique candles and home perfumes. www.refan.com

Right Rental Ltd. is leader in event management, logistics and equipment rental for corporate events, weddings, sports events, exhibitions and concerts. We have national and regional coverage, delivering both equipment and event services to neighboring countries – Greece, Romania and Serbia. We offer the most advanced tent solutions and aluminum structures produced by the leading Belgian company Veldeman Right Rental Ltd. Structure Solutions. No event is too big or small, too far or too unusual for Right Rental. Our team of professionals with over 10 years of experience is ready to meet www.rightrental.net any challengeable event!

AMCHAM BULGARIA | YEARBOOK 2018 LXVII member directory

Roche Bulgaria is representing Roche - the world’s largest biotech with truly differentiated medicines in oncology, hematology, immunology and diseases of the central nervous system. Roche Bulgaria is the second leading company on the total Bulgarian pharmaceutical market for 2017 and leader on the hospital market for the 7th consecutive year. Roche Bulgaria EOOD Doing now what patients need next www.roche.bg

RUSEVA-SAVOVA & PARTNERS is an advisory firm delivering trust and top-quality Ruseva-Savova services to international and local companies and governmental institutions on their & Partners landmark investments and expansions, compliance and day-to-day operations. Our Partners are based in Bulgaria and the USA, one is U.S. Export Controls Specialist certified by Amber Road-Global Trade Academy. We are recognized of our client focus, Ruseva-Savova &Partners excellence of style and service, talent, strong international and local network. We always exceed client expectations in an integrated effort with other leading practices. www.rslaw.eu

With approximately 3,900 employees and strong international presence, S&T is a leading supplier of IT solutions and Industry 4.0 and IoT technology and one of the industry leaders in these segments in Central and Eastern Europe. S&T Bulgaria has a proven track record in design, development and implementation of integrated IT strategies, business processes and systems for the needs of the private business and S&T Bulgaria EOOD public sector. We have partner agreements with Fujitsu, Canon, Hitachi Vantara, HP, Dell EMC, Cisco, VMware, Citrix, IBM, Microsoft, etc. S&T Bulgaria is an Authorized www.snt.bg distributor of Philips Healthcare in Bulgaria.

Sanofi-a global biopharmaceutical company focused on human health is dedicated to supporting people through their health challenges. We prevent illness with vaccines, provide innovative treatments to fight pain and ease suffering. We stand by the few who suffer from rare diseases and the millions with long-term chronic conditions. With more than 100,000 people in 100 countries, Sanofi transforms scientific innovation Sanofi Bulgaria EOOD into healthcare solutions. In Bulgaria we are No.4 among the innovative companies for 2017 (IQVIA). www.sanofi.bg Sanofi, Empowering Life.

Santa Fe Relocation is a worldwide presented company, providing Global Mobility Ser- vices to international businesses with expatriate employees and relocation services individuals who are on the move. Present in over 50 countries around the world we provide the full range of international relocation, business immigration, moving, and destination services to organizations and individuals. Our focus is to deliver an excel- Santa Fe Relocation lent service, maximizing human, technological, and environmentally friendly resources to affect innovative change that exceeds customer expectations. www.santaferelo.com

AMCHAM BULGARIA | YEARBOOK 2018 LXVIII

member directory

SAP is the world leader in enterprise applications in terms of software and software- related service revenue. Based on market capitalization, we are the world’s third largest independent software manufacturer. SAP helps the world run better and improves peoples’ lives through our integrated strategy. We enable our customers to create positive economic, environmental and social impact on the world. SAP Bulgaria EOOD www.go.sap.com/bulgaria/index.html

Offering a wide range of business services, Sb Accounting & Consulting nowadays is one of the top leading professional firms in Bulgaria. Established in Sofia back in 1989, our company has been always achieving the utmost standard in the provision of professional services to business clients from all over the world in the following areas: • Professional accounting services; • Payroll Administration & Processing on a Sb Accounting and Consulting global level; • HR & Personnel services; • Professional recruitment services; • Tax and fiscal representation services; • Legal consulting; • Business solutions and company www.sb-bg.com management.

ScaleFocus is a technology, R&D and advanced engineering company. We are a core supplier for IT solutions’ implementation and technology consultancy for multiple IT vendors, building industry know-how, innovation and R&D centers of excellence. ScaleFocus’ team delivers custom software solutions and integrates existing leading products (IBM, SAP, AWS, Oracle, Microsoft, TIBCO, Appian, etc.) under proven Scale Focus AD consultancy and implementation methodologies. We architect and guide your digital transformation strategies. We craft data solutions to allow you to make informed www.scalefocus.com decisions, based on your own data.

With more than 25 years of successful business operations in Bulgaria, DB Schenker now employs 340 people at 10 locations with logistical capacities over an area of more than 39,000 square meters. The company is a leading logistics provider on the Bulgarian market and offers integrated logistics solutions and a wide range of services for land transport, air and ocean freight, contract logistics, multi-modal solutions, Schenker EOOD warehousing, value-added services, removals and trade-fair logistics. www.dbschenker.com/bg

Schneider Electric is the global specialist in energy management and automation. With revenues of ~€25 billion in FY2016, our 160,000+ employees serve customers in over 100 countries, helping them to manage their energy and process in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our Schneider Electric Bulgaria customers manage and automate their operations. www.schneider-electric.bg

AMCHAM BULGARIA | YEARBOOK 2018 LXX member directory

SECTRON is a leading company with over 28 years of experience in the design, delivery, installation and support of security systems. The company acts as a wholesale distributor and also provides total engineering service of: intruder alarm, CCTV, fire detection & fire extinguishing systems, access control & hotel security, perimeter protection, gas/water detection, communication, PA & SCS systems. SECTRON also SECTRON supplies solutions for centralized security & data transmission, bank & retail security, metal detectors and x-ray screening equipment. www.sectron.com

Sensata Technologies is one of the world’s leading suppliers of sensing, electrical protection, control and power management solutions. We’re first and foremost an engineering-focused company. Our ultimate mission is to empower engineers in many of the world’s most vital industries to create a smarter, more connected, electrified, and ultimately, more autonomous world. With a 100-year track record, we’re a global Sensata Technologies Bulgaria EOOD leader in designing, customizing and manufacturing mission-critical sensors and controls, with operations in 12 countries around the world, 47,000+ unique products www.sensata.com sold and 1.1 billion units shipped annually.

Opened in 2013, the 5-star Sense Hotel Sofia, a member of Design Hotels, is in a great location on Tsar Osvoboditel Blvd., a few steps from the Parliament. This is Sofia’s first upscale design hotel balancing luxury and superb design with world class service. The hotel has 71 rooms and suites - spaces that are balanced, organic and alluring. The hotel also includes two conference rooms suitable for different type of events as well Sense Hotel Sofia as an exclusive SPA area with indoor stainless steel pool, two smaller pools with hot and salty water, sauna, steam bath and gym. Unbeatably located on the highest 9th www.sensehotel.com fl. Rooftop bar and Gastro bar can be

Shell Bulgaria EAD is part of Royal Dutch Shell plc and has been operating on the local market, as one of the fuel retail sales leaders, for over 25 years with a network of around 100 retail sites. During this period the company has launched and strengthened the position of Shell V-Power premium fuels, the euroShell Card services and the ClubSmart loyalty program. Each month over 1 million customers are served in Shell Shell Bulgaria EAD Bulgaria’s retail sites. In 2016, Shell made an Upstream entry in the country with its activities related to exploration of oil and gas in the offshore “”Han Kubrat”” Block www.shell.bg 1-14 in the Western Black Sea.

Sherita M is established in 1997m as a company which has set itself the ambitious task of cleaning buildings, offices, hospitals, automobiles and doing everything which is necessary for the office, home, etc. The spatial design and decorative arrangement, planting, grassing and garden service are the other public utilities, which Sherita M offers to its partners and clients. Sherita M has been certificated and applies quality Sherita M Ltd. management systems to the standards ISO 9001:2000, ISO 14001:2004, OHSAS 18001:2007. www.sheritam.com

AMCHAM BULGARIA | YEARBOOK 2018 LXXI member directory

Siemens Bulgaria is part of Siemens AG - a world’s leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry.

In Bulgaria Siemens has been active for more than 140 years. Today Siemens Bulgaria Siemens EOOD has more than 450 employees. The company’s aim is to improve the quality of life and provide products and services that move the world forward. www.siemens.bg

At Siemens Healthineers, we enable healthcare providers to achieve better outcomes at lower cost by expanding precision medicine, transforming care delivery, improving patient experience, and digitalizing healthcare.

Siemens Healthcare EOOD www.siemens.bg/healthcare

Silver Ridge Power (formerly known as AES Solar) is a global solar power company. We develop, construct, own and operate utility-scale solar photovoltaic power generation plants in seven countries. We sell electricity under long-term power sale arrange- ments primarily to electricity grid operators, regulated utilities and other creditworthy counterparties. We are one of the world’s largest independent power producers Silver Ridge Power focused on solar power generation.

Sienit Holding” Jsc. Is one of the most powerful Bulgarian companies in the field of construction and investment. The company is a leading construction entrepreneur and key in building large industrial, logistic, infrastructure, energy, commercial, recreational and residential facilities. Trakia Economic zone (TEZ) is the biggest investment and industrial project in Bulgaria, more than EUR 1,1 bn are already invested. Investors in SIENIT Holding TEZ are more than 100 and jobs created more than 15,000. www.sienit.com

Sitel Group is one of the largest customer experience companies in the world. With over 30 years of industry-leading experience, Sitel Group’s 75,000 associates service over 400. Through its network of more than 150 offices in 24 countries. SITEL col- laborates with some of the best known global brands to help deliver outstanding customer experiences. As one of the first multi-lingual contact centers in Bulgaria at Sitel Bulgaria EOOD present SITEL Bulgaria has 12 years of experience, delivering services in 33 languages for 9 world known brands and has more than 900 employees from our locations in www.sitel.com Sofia and Varna.

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Sodexo is a worldwide leader in Quality of Life Services, which operates in 80 countries where our 425,000 employees serve 75M consumers each day.

Sodexo Bulgaria We provide solutions that help our clients achieve their strategic goals by using our Sodexo Pass Bulgaria EOOD products: Trapeza PASS: tax exempted & preventive food vouchers; Podarak Pass: a gift vouchers and incentive programs; Flexi PASS: flexible social benefits; Sport Pass: a www.sodexo.bg sport service that improves ones Quality of Life.

Sodexo Bulgaria is AON’s Best Employer in Bulgaria for 2018 (Service Sector, companies up to 250 employees’ category).

. Sofia Airport Center (SAC) is a business park development providing an international- standard working environment in a landscaped park setting. It consists of 40,000 sq.m office space and 16,000 sq.m prime industrial space. It is the first LEED Gold certified office development in Bulgaria. The project is managed by Ceres Manage- ment Services in the highest international standards. Second phase of SAC is under Sofia Airport Center EAD development and will include additional office space of 18,000 sq.m. and a new retail building focused exclusively on providing SAC tenants with a diverse range of www.sac.bg amenities.

With its prime location in the heart of Sofia, Sofia Hotel Balkan is the ideal place to hold a meeting or organize a special event. The hotel’s exceptional conference and banqueting facilities can easily accommodate up to 1500 delegates at a time and up to 650 attendees for every type of event – from intimate business meetings to large- scale presentations and international conferences. The hotel offers a completely Sofia Hotel Balkan refurbished restaurant and lobby bar, a perfect location for a business dinner or meeting. www.sofiabalkan.com A refined blend of opulence and contemporary chic are the characteristics of all 185 guest rooms.

SOFITA Translation Agency - the first private translation company in Bulgaria established 1989. SOFITA is a provider to many EU institutions, such as Court of Justice of the EU, DGT at EC, the European Central Bank.

Sofita Translation Agency Sofita is proud of its joint legal database product APIS-SOFITA BG LAW, which contains all primary Bulgarian acts in force translated into English. www.sofita.com SOFITA is certified under ISO 9001 and the first Bulgarian company certified under ISO17100. It is a founding member of the Bulgarian Association of Professional Trans- lation Agencies and a member of the associations ELIA and GALA.

Software Group is a global technology company specialized in the delivery channel and integration solutions for institutions that provide financial services. Founded in 2009 and headquartered in Sofia, Bulgaria, it currently serves a worldwide client base in more than 65 countries from 9 regional offices located in Australia, Bulgaria, Egypt, Ghana, India, Kenya, Mexico, the Philippines and the USA. Software Group Software Group provides solutions to a range of players in the financial sector includ- www.softwaregroup-bg.com ing banks, telcos, fintechs, microfinance institutions, credit unions, etc.

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Sogelife Bulgaria, founded in May 2007, is a quickly developing insurance company on the market with more than 240,000 clients and offers Protection and Saving Insur- ance for individuals and companies. The company has also recently launched a unit- linked product that successfully responds to clients’ needs. Sogelife’s aim is to develop innovative and flexible insurance solutions bringing value to individual customers and Sogelife Bulgaria JSC business partners. www.sgeb.bg/bg/sogelife

Solytron is a leading Bulgarian added value IT distributor for more than 27 years with over 50 global brands in its portfolio. The company multiplied its revenue by more than two and a half times for the past 6 years and in 2017 registered sixth year of growth. As a result company footprint in the market is over 30%. Solytron portfolio offers a full range of hardware and software needed to build any size and complexity Solytron Bulgaria Ltd. of information and communication systems. www.solytron.bg

Sopharma is a Bulgarian pharmaceutical manufacturer of modern and affordable health-related products. Its reputation, built for 85 years and the excellent financial results, is why the company is even more active in the care of people’s health and investing in society. Sopharma is at the foundation of a vertically integrated business model that ensures high standards. Sopharma has over 210 products in its portfolio, Sopharma AD 15 of which are original and are introduced in more than 40 countries. The company’s shares are traded on the BSE and the WSE and are included in two of Dow Jones’ www.sopharmagroup.com indexes.

Sopharma Trading Jsc. is a leading commercial company in the healthcare sector in Bulgaria. The company is servicing more than 3000 customers and offers over 15,000 products - medicines, OTC consumables, medical equipment and devices, food supplements, cosmetics, etc. Sopharma Trading’s strategy is the diversification of operations in different segments and markets. In 2015 the company launched own Sopharma Trading JSC pharmacy concept SOpharmacy and started regional expansion in Serbia. In 2017 strengthened its expansion by acquiring Lekovit wholesaler in Serbia and www.sopharmatrading.bg Pharma Store chain in Bulgaria.

Sportal Media Group is one of the largest internet media groups on the Bulgarian market. The company employs over 120 people and operates a wide range of online media including sportal.bg, novini.bg, profit.bg, hotnews.bg, woman.bg and others with over 4 mln fans. In addition to its digital portfolio Sportal operates a cable sports television channel Sportal TV. The company is also investing in e-commerce and digital services. Sportal.bg JSC In 2018 Sportal has entered into a strategic joint venture with the leading Swiss media group Ringier AG to exploit proprietary know-how and technologies on international www.corp.sportal.bg markets.

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Stanton Chase International Bulgaria is one of the leading Executive Search companies in the Bulgarian market. For the last 13 years we have been helping Bulgarian companies from all sectors identify and attract qualified and experienced talents for top and middle managerial roles. As part of global network with 70 offices in 45 countries, we are experienced in cross-border and joint searches of professionals. In Stanton Chase International Bulgaria Ltd. addition Stanton Chase International Bulgaria offers a range of consulting services, including Board & Leadership Assessment, Executive Mentoring and Executive Coaching. www.stantonchase.com

Stefan Dimitrov is a highly experienced real estate consultant and investment advisor, with an extensive background within investments and sales, marketing, business development and general management. He specializes in large-scale commercial and residential property. His expertise covers leases, acquisitions and dispositions, due diligence, entitlement practices, and financing. Presently, Stefan is a Partner at Unique Mr. Stefan Dimitrov Estates, Sofia based consulting company, an affiliate of the Leading Real Estate Companies of the World® global network. www.norman.bg

STEMO is a private Bulgarian company founded by four computer specialists in 1991. Its first activities were software development and delivery of computer equipment. Today STEMO is recognized as a leader in the field of the information and communication technologies. The company has 15 own commercial offices, service and retail centers, warehouses, a training center, equipped with modern information, techno- Stemo Ltd. logical and transport facilities. The branch offices of the company are situated in the largest cities of Bulgaria: Sofia, Plovdiv, Varna, Stara Zagora, Burgas, Rousse, Pleven, www.stemo.bg Blagoevgrad, Kozloduy, others

Sterling Serviced Office Group wwww.sterlingoffice.com

Sterling Serviced Office Group is the first Serviced Office Provider in Sofia since 2004 offering premium & flexible serviced office solutions, meeting and conference facilities basis at 2 locations: at 2a Saborna Street -in the heart of Sofia and our new centre at Serdika Offices, Top 10th floor (located above Serdika Shopping Centre).

McDonald’s is the biggest fast service company in the world with more than 35,000 restaurants in more than 100 countries in the world. In Bulgaria since December 1994, McDonald’s has opened more than 40 restaurants and 9 McCafe (as of February 2016). Our brand is symbol of success and behind it stands our founder and visionier Ray Kroc, who imagined a restaurant where everyone can enjoy fast and polite service, Sunfoods Bulgaria EOOD - great taste and good value for money. “The smile on the face of our customers is the Development Licensee of McDonald’s in Bulgaria biggest reward for us” says Ray Kroc. www.mcdonalds.bg

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Sutherland is a process transformation company that helps customers, across industries from financial services to health care, achieve greater agility through transformed and automated customer experiences for over 30 years.

Headquartered in Rochester, N.Y., Sutherland employs thousands of professionals Sutherland Global Services Bulgaria EOOD spanning 20 countries around the world. www.sutherlandglobal.bg Opened in 2008 in Sofia, Sutherland Bulgaria has since grown to more than 2500 employees in five different sites, three in Sofia, one in Bourgas and one in Varna.

SYNCHRON-S Ltd. is a Fire Safety engineering company with more than 25-years of experience. We are the experts in design, installation, commissioning and maintenance of Firefighting Systems - gas fire extinguishing, water mist and foam fire extinguishing, fire detection and alarm systems. We design projects to the latest industry standards implemented with top quality. Our over 3,000 clients are data SYNCHRON-S Ltd. centers, banks, insurance companies, military and government sites, plants, logistic sites, office and public buildings. www.synchron-s.com

TBI Bank operates in Bulgaria, Romania and offers its deposit solutions online in Germany. TBI Bank is part of 4finance, Europe’s largest online and mobile consumer lending group. We serve more than 1.4 million registered customers through a trusted network of over 5.000 sales points. TBI Bank’s customer focus propels us to become the next generation digital lender. The successful business model allowed TBI to TBI Bank EAD become the most profitable and efficient bank in Bulgaria (Capital K10, 2018). www.tbibank.bg/en

Ziraat Bank’s operations in Bulgaria started in 1998 with one Branch in Sofia and extended its presence in the county with offices in Plovdiv, Kardzhali, and Varna. It is attractive for clients especially who has business in Turkey and Bulgaria. The Branch uses the facility of international network to support its clients providing comprehensive finance options such as accepting collaterals from Turkey to finance the new busi- TC Ziraat Bankasi Sofia Branch ness in Bulgaria, and vice versa, defining limit that is useable for cross-border needs and faster payment transfers among Ziraat Finance Group. www.ziraatbank.bg Ziraatbank Sofia Branch aims to be MORE THAN A BANK for its clients and partners.

Techceramic - M Ltd. is a developer, manufacturer and worldwide supplier of ceramic components with a broad and ever growing range of applications. Widely used in automotive casting, the mechanical, structural, petrochemical, electrical, electronics and textile industries ceramic components have precise tolerances and deliver a significant number of cost cutting advantages over more mainstream materials. TECHCERAMIC-M www.techceramic-m.com

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TechnoLogica is a leading Bulgarian software company with comprehensive activities in the field of IT. The company’s product portfolio includes software solutions for: human resource management, CRM, business processes modeling, project management, data warehousing and business intelligence, GIS, design automation (CAD/CAM) and customer tailored software development. TechnoLogica is an Approved Education TechnoLogica EAD Provider of Oracle, R.E.P. of PMI® and Endorsed Education Provider of IIBA®.

Telelink enables people and organizations to adopt technology and realize their full potential in the digital world. We tap into global talent, compelling next-generation IT solutions and extensive partner relationships to help everyone to transform digitally and seize new opportunities.

Telelink With a global network spanning across 10 countries and 17 years experience we provide a wide range of innovative services and solutions. www.telelink.com Telelink international team numbers 600 highly qualified professionals and over 2,000 people working on project basis.

Telenor is a leading telecommunication services provider with more than 3.1 million active users in Bulgaria. As of August 1, 2018, Telenor Bulgaria, along with Telenor Hungary and Telenor Serbia & Montenegro are part of PPF Group.

PPF Group invests into multiple market segments such as banking and financial Telenor Bulgaria services, telecommunications, biotechnology, insurance, real estate, and agriculture. www.telenor.bg PPF’s reach spans from Europe to Russia, the USA and across Asia. PPF Group’s assets under management totaled to almost EUR 38 billion (as at 30 June 2018).

TELUS International Europe is a premium BPO (business process outsourcing) and ITO (information technology outsourcing) provider, delivering high quality services since 2004. The company has more than 3,500 team members across seven delivery centers located in: Sofia and Plovdiv (Bulgaria); Bucharest and Craiova (Romania), as well as offices in Manchester and Cannock (England). TELUS International Europe TELUS International Europe offers contact center solutions, ITO and innovative customer service support for global customers in over 35 languages. www.telusinternational-europe.com

IIA Bulgaria is the exclusive representative of the International Institute of Internal Auditors (The IIA Inc.) in the Republic of Bulgaria– a global association of the internal auditors, established in 1941 and uniting more than 175 000 professionals all over world. IIA Bulgaria is established in June 2003 and up to now it has more than 550 members – professionals in the fields of internal audit, financial control and risk man- The Institute of Internal Auditors in Bulgaria agement. Our members are working in all business fields – private companies, banks, insurance companies and public sector organizations. www.iiabg.org

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Titan Machinery Bulgaria EAD is a leading company in the Bulgarian market in the sales of high technology agricultural and construction equipment. Titan Machinery Inc. is the owner of the company, the largest CNH dealer worldwide.

Titan Machinery Bulgaria EAD is an official importer of Case IH tractors and combines Titan Machinery Bulgaria EAD and a wide range of implements of the leading brands Vaderstad, Salford and An- naburger. We also offer Case Construction road and construction equipment. www.titanmachinery.bg We have a network of sales and service centers in Sofia, Stara Zagora, Montana, Pleven, Dobrich, Ruse and Burgas.

The TITAN Group has been operating in Bulgaria for nearly 15 years and has invested around EUR 120 mln in new technologies, energy efficiency, environmental protection and human resources. Zlatna Panega Cement AD is one of the leading cement manufacturers in Bulgaria. The Company operates ready-mix units in four of the largest TITAN Zlatna Panega Cement cities in the country. There are plans for their future expansion and for commissioning quarries for aggregate materials. Our success is based on the use of the best available www.titan.bg manufacturing technology and the the know-how of our personnel.

TMF Group is a leading global provider of high value business services to clients operating and investing globally. We focus on providing highly specialized and business critical accounting, tax compliance, legal administrative and payroll/human resource administrative services that enable our clients to operate their business in different geographical locations. We operate in over 100 offices in over 80 jurisdictions across TMF Services EOOD the globe. Our office in Bulgaria is operational since 1992 and employs currently more than 100 professionals. www.tmf-group.com

Established in 2004 as a boutique law firm initially focused on advising and representing clients in the financial industry and real estate and construction sector, the T&M Law Office has expanded to offer advice to Bulgarian and foreign corporate clients on all range of Bulgarian legal issues. The T&M Law Office is not among the Tocheva & Mandazhieva Law Office largest Bulgarian law firms, however, it has been well recognized and respected for its quality, integrity and business friendly, flexible solutions. www.tmlawoffice.bg

Tokuda bank is the only Japanese owned bank in Bulgaria. It is part of the economic group of Tokushukai Inc. The Bank is established in 1994. We are a full service bank specializing in products for retail clients, as well as for SME. Tokuda Bank offers a small range of products and flexible service.

Tokuda Bank AD The Head office of the bank is in Sofia. The Bank has 30 offices in the country. www.tokudabank.bg The mission of Tokuda bank is to support the advancement of the Business sector and society in Bulgaria through providing prudent financial services to private entrepreneurs and individuals.

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Takeda is a patient-focused, innovation-driven global pharmaceutical company that builds on a distinguished 27-year history, aspiring to bring better health and a brighter future for people worldwide. Our research and developments efforts are focused on oncology, gastroenterology and central nervous system therapeutic areas. The network of Takeda spans over 70 countries and regions worldwide. The representative TRO Takeda GmbH office of Takeda GmbH, Germany was found in Bulgaria in 2008. www.takeda.com/bg-bg/

Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines is a 4-star airline today with a fleet of more than 330 (passenger and cargo) aircraft flying to more than 290 destinations worldwide. According to the 2016 Skytrax survey, Turkish Airlines was chosen as Europe’s Best Airline for the 6th consecutive time. More information can be found on its official website www.turkishairlines.com or its social Turkish Airlines media accounts on Facebook, Twitter, Youtube, Linkedin, and Instagram.. www.turkishairlines.com

UniCredit Bulbank is the biggest Bulgarian bank with assets above 19 billion leva as at the end of 2017. It is a leader in the lending to the real economy with a market share of 20% of the total loans of the banking system. The bank services over one million citizens and households, private clients, small and middle enterprises, large local and international companies, etc. UniCredit Bulbank www.unicreditbulbank.bg

UniCredit Leasing is European leader on the financial market, with a permanent place in the top of the charts. In Bulgaria the Company helps international and local companies from all industrial sectors, to take advantage of the market possibilities. Establishing long-term relations with the clients through high professionalism, mutual trust and offering quality products and services is our key goal. We offer financing UniCredit Leasing EAD of vast scope of assets to its current and future clients along with joint products with dealers, based on subsidized interest. We are a market leader on the Bulgarian asset- www.unicreditleasing.bg financing market.

Unimasters is a leading shipping and logistics group, headquartered in Bulgaria, with own subsidiaries in Romania and Hungary, whose success is based on combining local expertise with latest international standards. With more than 28 years of experience in the field of transportation, freight management, logistics and supply chain management, today Unimasters is a thought and inspirational leader in logistics Unimasters and innovation on the Bulgarian and the CEE market. The company is well known for its customer-centric approach and its user-friendly, tailor-made solutions, which www.unimasters.com exceed clients’ expectations.

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Unique Estates was established as a specialized consulting company for the sale and rental of properties in two directions - luxury and executive. It works with clients and property in the luxury and corporate segment and serves many diplomats and foreign nationals. For twelve years it has been a leader and undisputed authority in the market. The company is part of AG Capital - a holding specialized in construction and Unique Estates real estate investments. www.UES.bg Welcome to our home – an aristocratic house in the city center of Sofia.

United Bulgarian Bank (UBB) is a banking institution with more than 25 years of history, which began in 1992 through the merger of 22 Bulgarian regional commercial banks. Being the first and most comprehensive consolidation project in the Bulgarian banking sector in the national history. In 2017 the Belgian banking and insurance group KBC acquired UBB from the National Bank of Greece. After the CIBANK-UBB United Bulgarian Bank consolidation the new united UBB bank ranks as the third largest bank in Bulgaria in terms of assets. In addition United Bulgarian Bank has been an active and responsible www.ubb.bg member of the Bulgarian society through its sustainable CSR policy.

V+O Communication is a leading strategic communications agency in Southeastern Europe with operations in Athens, Sofia, Belgrade, Bucharest, Tirana, Nicosia, Lagos, and Brussels. The office in Bulgaria was established in 2004. We are a team of talented and passionate professionals with concrete knowledge and accumulated experience. An agency of conversation starters, enablers and storytellers of an original V+O Communication and disruptive sort that clients need. A group of restless creative thinkers that constantly seek for trailblazing ideas that create new perspectives, change perceptions www.vando.bg and generate growth.

Veolia supplies 3.4 million households with heating, manages 76,000 energy installations and operates more than 595 heating and cooling networks worldwide. Our scal- able solutions optimize energy efficiency, performance and reliability, while reducing energy consumption, environmental impact and costs to meet the specific needs of the diverse customers and industries we serve. Veolia Energy Bulgaria EAD Our solutions are: • District energy www.veolia.bg • Facility operations and management (O&M) • Energy performance contracts • Co-generation • Renewable energy solutions • Energy management and advisory services

VERO Bulgaria EOOD was established in 2008 and is based in Bulgaria. The company has been developing in various directions - from material supply for industrial scaffold erection, to leasing farm machinery and equipment.

Over the recent years, VERO BULGARIA has been developing digital solutions suitable VERO Bulgaria for the small and medium businesses. www.vero.de The company is an inventor of utility models and patents in the field of occupational safety and health on special purpose sites.

VERO BULGARIA has invested in digitalization of its own business activities .

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VIDEOLUX was established in 1992 and is a 100% private company dealing with wholesale and retail of C.E. and home appliances. The company is the exclusive distributor of JVC, CANDY, HAIER, BEKO, TAURUS for Bulgaria. In November 2001, VIDEOLUX together with Lindner Bulgaria established a new chain with new concep- tion: TECHNOPOLIS, the biggest specialized hypermarkets for consumer electronics, Videolux Holding / Technopolis home appliances and IT products in Bulgaria and SE Europe. The company operates in major cities in Bulgaria. www.technopolis.bg

VIP Security is one of the rapidly developing security companies in Bulgaria. It also operates in Europe and in the USA. Since its establishment in 1999, the company has continually invested in the development of a broad product range and in the professional skills of its personnel. Our portfolio includes the entire spectrum of security services, close protection, cash management services, video surveillance and VIP Security Ltd. control, electronic security systems, consultancy services and training. VIP Security employs professionals trained in accordance with the standards of the International www.vipsecurity.bg Bodyguard Association.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The VISA company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a www.visabg.com cashless future for everyone, everywhere.

Visteon Electronics Bulgaria autonomous car solutions. www.visteon.com Visteon Electronics Bulgaria is a technical center with more than 900 employees with expertise in Software, Hardware and Mechanics. It is Visteon’s second largest development center, focused currently on the design and development of cockpit electronics and advanced electronics products and connected and

Vitosha Soft Ltd. is a software development company focused in creating innovative technologies that solve problems in the financial and lending industries. Its flagship products allow lenders and borrowers to interact exclusively over the Internet throughout the loan origination process without the need for paper processing and wet signatures. The company is headquartered in Sofia, Bulgaria and its customers are Vitosha Soft Ltd. based primary in the USA. www.isign.bg

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VIVACOM is the largest telecom in total revenue on the Bulgarian market for 5 consecutive years. The company provides modern telecommunication services to meet the highest professional standards - from Мobile and Fixed Voice services, high speed Internet, DTH and IPTV, satellite services, to tailor made telecommunication solutions. We also develop innovative smart solutions and cloud services for corporate clients, VIVACOM municipalities and state authorities. www.vivacom.bg VIVACOM is socially responsible company, supporting initiatives in education, charity and sport.

VMware software powers the world’s complex digital infrastructure. The company’s compute, cloud, mobility, networking and security offerings provide a dynamic and efficient digital foundation to over 500,000 customers globally, aided by an eco- system of 75,000 partners. Headquartered in Palo Alto, California, this year VMware celebrates twenty years of breakthrough innovation benefiting business and society. VMware Bulgaria EOOD For more information, please visit www.vmware.com/company.html www.vmware.com

VSK Kentavar is top manufacturer of metalworking precision tools and equipment. Certified by ISO 9001:2015, AQAP 2110, with a CNC standard and custom solutions, we invested more than EUR 22 mln in our modern manufacturing plant. We are the biggest vendor of KENNAMETAL USA in EU – global supplier of tools and production processes components. We also own VSK Kentavar–Mashtehmo Ltd. Sofia – logistic VSK Kentavar - IZ Dinamika EOOD center, VSK Kentavar - ZMM Ltd. Velingrad – coupling and lathes spare parts plant, and boutique hotel in Dryanovo. www.kentavar.com

Walltopia is the world’s leading climbing wall manufacturer. Founded in 1998, the company has the largest production facility in the world and over 1 800 completed projects all over the globe. Since 2012 Walltopia expands its portfolio to the Amuse- ment industry and currently manufactures interactive Fun Walls, the aerial attraction Rollglider, ropes courses, ninja courses, theming solutions and adventure hubs that Walltopia AD combine it all. With Head Office in Sofia, Walltopia employs over 850 professionals and also has offices in the USA, Canada, Austria, UK, Germany, Russia, China, and Asia www.walltopia.com Pacific.

Westinghouse Electric Company is the world’s pioneering nuclear energy company and is a leading supplier of NPP products and technologies to utilities throughout the world. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately ½ of the world’s operating nuclear plants. Westinghouse Energy Systems Bulgaria Branch Westinghouse Bulgaria is focused on Design, Testing, Installation, Commissioning and www.westinghousenuclear.com Maintenance of Digital I&C Systems and procurement and delivery of power generation equipment for NPPs.

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WIFI Bulgaria represents since 2008 exclusively WIFI (Wirtschaftsförderungs Institut)- training organization, part of the Austrian Economic Chamber and one of the largest training institutes in Europe. WIFI offers training in all possible directions and professional levels - from workers who need specific professional knowledge to managers who need development of specific social/soft skills. All trainings of WIFI WIFI Bulgaria graduate with official European recognized certificate, guarantee for quality and sustainability. www.wifi-bg.bg

Woodward enhances the global quality of life, creating innovative energy control solutions that optimize the performance, efficiency and emissions of our customers’ products. We are an independent designer, manufacturer and service provider of energy control and optimization solutions for the aerospace, industrial and energy markets. We have significant design centers, production and assembly facilities in the Woodward Bulgaria EOOD United States, Europe and Asia, and promote our products and services through our worldwide locations. www.woodward.com

World Courier is a provider of premium logistics services and the leading global specialty supplier of transportation, storage and distribution services for multinational biopharmaceutical clinical trials. World Courier’s services are also employed by the broader healthcare, aircraft, automotive, industrial, and technology industries, where urgent delivery of mission-critical components and sophisticated handling capabili- World Courier Bulgaria Ltd. ties are required. Our customers have full confidence that mission-critical materials will reach their destination in perfect condition and on-time, anywhere in the world. www.worldcourier.com

World Transport Overseas Bulgaria ltd provides one stop shop solutions with high quality service and intelligent schemes for sea, air and inland transport. The company has 10 offices in 5 countries.

World Transport Overseas Bulgaria Ltd. www.wtogroup.eu

WorleyParsons is a leading global provider of professional services to the resources and energy sectors, and the complex process industries. Our 25,700 team working from 112 offices in 42 countries has technical expertise, project delivery systems, and resource depth to provide solutions for the full range of project services. We deliver engineering, procurement, construction management, program management, design WorleyParsons Nuclear Services JSC and consultancy services that address local and global requirements. In Bulgaria WorleyParsons operates since 1990s offering services for thermal, nuclear, gas turbine, www.worleyparsons.com renewable power plants, and hydrocarbons.

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Xerox Bulgaria was established in 1968 as a representative office of Rank Xerox. The Xerox dealers network, which covers the territory of Bulgaria, was established in 1991. The range of Xerox services includes: research of customer needs for the most appro- priate document-processing equipment; delivery and installation of the equipment; trainings, and maintenance. The history of Xerox dates back to 1947, when the Haloid Xerox Bulgaria Ltd. Company got a contract to develop and present a copy machine based on Chester Carlson’s xerographic invention. www.xerox.bg

Based in New York, The Xogito Group is a digital development consulting firm. We build, operate, and advise. Our mission is to help your business exceed your goals. Digital technologies are constantly changing to keep up with business needs and to create new ones. We help you think through where you are technically and help you map out where you want to go and how to get there. Data, RTB, E-Commerce, AdTech Xogito Ltd. – we approach your needs within the larger technical landscape in full accord with best practices, emerging trends and forward thinking solutions. www.xogito.com

Zobele Bulgaria EOOD is established in 2008 in Industrial zone Rakovski, as part of ZOBELE GROUP, a worldwide business partner that provides innovative and cost- effective solutions for leading household, health and personal care brands. The company is specialized in the production of insecticides, air freshener products and other home care products. The company is dedicated to innovative technical solutions, Zobele Bulgaria EOOD focused research and development approach and efficient delivery systems. www.zobele.com

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Notes Notes Acknowledgements: AmCham Bulgaria would like to thank all the contributors to the AmCham Bulgaria Yearbook 2018, and especially the AmCham members and the National Statistical Institute.

Special thanks to our advertisers (in alphabetical order):

Alcomet AD American English Academy American University in Bulgaria Amgen Bulgaria EOOD Anglo-American School of Sofia Balkan Star Automotive EOOD BMW Vertriebs GmbH - Branch Bulgaria Bulavto AD Business Park Sofia Congress Engineering EOOD Dobrev & Lyutskanov Law Firm Enterprise rent-a-car & National Hotel Rila Borovetz HRS Bulgaria OOD InterContinental Hotel Sofia Jobs.bg EOOD M3 Communications Group AD Novotel Sofia Penkov, Markov & Partners Philip Morris Bulgaria EOOD Porsche BG EOOD S&T Bulgaria EOOD Sense Hotel Sofia Unicredit Bulbank AD

No parts of this publication may be translated, reproduced or transmitted in any form without the written consent of the Publisher.

American Chamber of Commerce in Bulgaria, Publisher LPI Advertising and Scholz & Friends Sofia, Layout Color Studio, Print

Disclaimer Although the publisher of the AmCham Bulgaria Yearbook 2018 made every efforts to ensure that the information was correct at the time it went to press, the publisher do not assume and hereby disclaim liability to any party.

ISSN 1312-9368