Bulgaria in EU's Mirror SINCE 1990
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z z z z EVENTS ANALYSES INTERVIEWS Issue 2(173) CO%86,1(66 NNECT March-April 2017 $ආൾඋංർൺඇ&ඁൺආൻൾඋඈൿ&ඈආආൾඋർൾංඇ%ඎඅൺඋංൺ Bulgaria in EU's Mirror SINCE 1990 WITH ACCESS TO 100 COUNTRIES 21 000 LAWYERS 160 LAW FIRMS AT HOME WORLDWIDE COMMERCIAL & COMPANY LAW COMPETITION & ANTITRUST MERGERS & ACQUISITIONS ENERGY & RENEWABLES ADMINISTRATIVE LAW LITIGATION & ARBITRATION & PUBLIC PROCUREMENT BANKING & FINANCING LAW TAXATION & LABOR TRADEMARKS, PATENTS IT, MEDIA & TELECOMMUNICATIONS & LICENSING Legal: 500: Chambers Europe: Chambers Global: IFLR 1000: “Excellent, comprehensive “More western than others” “Innovative and practical, “They are the best and responsive services” “One of the best in Bulgaria” entirely client & business when it comes to advising investors, “Excellent – prompt, oriented” they know how the law works…” efficient and extremely knowledgeable of the local environment” e-mail: [email protected] ∙ www.penkov-markov.eu ∙ telephone: (+359 2) 971 3935 executive's remarks 1 Bulgaria needs more EU A stable government and more European integration are a must if we want to have predictable political environment in Bulgaria. “No more business as usual” sounded as the main message of the Transatlantic week in Brussels where 37 representatives from 23 AmChams exchanged views on advocacy and ways to cooperate. The 25th anniversary of the EU Single Market and Bulgaria’s 10 years of EU membership provided the chance to draw up a balance sheet. GDP has increased by nearly 70% in nominal terms during that period and, according to Euro barometer, Bulgarians are happier now than before. Some 70% of Bulgarian exports are destined for the EU; a similar percentage goes to the countries at the “fastest” EU speed – Germany, France, Italy and the Benelux. AmCham’s view on Europe on “several speeds” is aligned with that of the current caretaker government – Bulgaria needs more integration and more EU. This will lead to better investment climate in our country. Bulgaria’s good macroeconomic performance is not sufÀ cient to attract more FDI, as high levels of corruption, problems with rule of law and law enforcement all present major impediments. For instance, economist Krassen Stanchev discusses on Page 16 Bulgaria’s structural problems related to the constitutional arrangement of the prosecutorial powers. We are not mere observers, but also contributors to the efforts to change the status quo. Major political parties assured AmCham of signing a Memorandum of Understanding, which should enable the Chamber to pursue its key priorities outlined in the 2017 White Paper, read more on Page 4 and Page 26. God helps those who help themselves, says an old proverb. Numerous pundits and scholars in Bulgaria have pointed out its great and unrealized potential that is still hampered by excessive bureaucracy, outdated governance structures and narrow- minded mentality. Those impediments must be addressed and removed soon if we do not want to be left behind in an unpredictable, fast changing world. Sincerely Yours, Alex Nestor Executive Director Board of Directors Content of the American Chamber of Commerce in Bulgaria President Ms. Krassimira Chemishanska Amgen Bulgaria First Vice-President Mr. Venislav Iotov AIG Europe Limited (Bulgaria Branch) chamber news . .4 Second Vice-President Mr. Sergey Koinov AG Capital standpoint Treasurer Ms. Stanislava Taneva Citibank Europe Plc, Bulgaria Branch Members Mr. Olivier Marquette AES Bulgaria Obamacare Trips Trump . .8 Mr. Solomon Passy Atlantic Club Bulgaria %<&+5,6723+(5.$5$'-29 Mr. Plamen Zhechev Cisco Systems Bulgaria Mr. Iravan Hira Hewlett Packard Enterprise Bulgaria cover story Ms. Iva Todorova IBM Bulgaria Mr. Petar Ivanov Individual Member Bulgaria in EU’s Mirror. .10 Ms. Zlatina Ruseva-Savova Individual member %<0$5,1$769(7.29$ Mr. Stoyan Ivanov The Coca-Cola Company Bulgaria Ex-Officio Member Ms. Maria Galindo Senior Commercial Officer, interview U.S. Embassy Acting EU, Bulgaria: Executive Director Mr. Alex Nestor Trading With the Richer 3XEOLVKHU Makes You Richer . .16 $PHULFDQ&KDPEHURI&RPPHUFHLQ%XOJDULD cover story %XVLQHVV3DUN6RILD0ODGRVW$UHD %XLOGLQJ)ORRU6RILD%XOJDULD No More “Business as Usual” . .20 7HO %<,5,1$%$&+(9$ )D[ HPDLODPFKDP#DPFKDPEJ ZZZDPFKDPEJ (GLWRULQ&KLHI ,ULQD%DFKHYD &RQWHQW$GYLVRU &KULVWRSKHU.DUDGMRY ,661; :ULWHUV %R\NR9DVVLOHY &KDLND&KULVWRYD EU Is About Rules. .22 0DULQD7]YHWNRYD %<$1'5(<.29$7&+(90(3 <XOLDQD%RQFKHYD Single Market Follows EU’s $GYHUWLVLQJ $P&KDP%XOJDULD Ups and Downs . .23 $QD9HONRYDDYHONRYD#DPFKDPEJ %<,9$</2.$/),1 Business Connect MagazineUHDFKHVDEURDGDXGL More Countries Comply HQFHRI$P&KDPPHPEHUVOHDGLQJ86%XOJDULDQ With the Maastricht Criteria . .25 DQGLQWHUQDWLRQDOFRPSDQLHV86DQG%XOJDULDQ By Investor.bg GHFLVLRQPDNHUVDOO$P&KDPVDURXQGWKHZRUOG 6XEVFULSWLRQLVIUHHRIFKDUJH,I\RXZRXOGOLNHWR amcham events VXEVFULEHWR$P&KDP%XOJDULDSXEOLFDWLRQVSOHDVH AmCham Talks FRQWDFWWKH$P&KDP%XOJDULDRIILFH Better Business Environment with Political Parties . .26 Seminar Tackles Power of Digital Marketing, 7KHFRQWHQWRIWKLVPDJD]LQHLVOLFHQVHGXQGHUWKH Business Opportunities for SMEs &&$WWULEXWLRQ/LFHQVH . .28 <RXDUHIUHHWRFRS\WUDQVODWHGLVWULEXWHDQGWUDQV Ambassador: PLWLWEXW\RXPXVWDWWULEXWHWKHFKRVHQZRUNWRLWV DXWKRUDQGWKH$P&KDPPDJD]LQHBusiness U.S. Trade, Investment in Bulgaria Connect DVFUHDWRUVRILW Exemplary. .30 content 3 innovation members 3M Bulgaria EOOD . AA KRES EOOD . AbbVie EOOD . Abrites . Accedia . Actavis Bulgaria EAD Sensata Technologies . Adecco Bulgaria Ltd. ADM Bulgaria Trading EOOD . Advance International Transport EOOD . AES Corporation . AFA OOD . AGORA-IN Ltd. AIG Europe Limited (Bulgaria Branch) . AIMS Opens New Testing Human Capital . Albena AD . Alcomet AD . Alcon Bulgaria EOOD . ALD Automotive OOD . All Channels Communication . Alliance One Tobacco Bulgaria . Allied Pickfords Bulgaria . America for Bulgaria Foundation . American College of Sofia . American English Academy . American Research Facility in Bulgaria. .31 Center in Sofia . American University in Bulgaria (AUBG) . Amgen Bulgaria EOOD . Amway amcham events Romania Marketing Srl. Anglo-American School of Sofia . AON Bulgaria . Apis Europe JSC . APOLO Ltd. Architect Nikolay Mihaylov Galabov . Architectural Agency Kadinovi Bros LTD . Arexim Engineering . Ashtrom International Ltd. Association Srednogorie Copper Industrial Cluster . 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Dentsu Aegis Network Bulgaria OOD . Deutsche Bank AG . Devin AD . DHL Express 3$571(56 Bulgaria Ltd. Diamed Ltd. Dimitrov, Petrov & Co. Djingov, Gouginski, Kyutchukov, & Velichkov . Dobrev & Lyutskanov Law Firm . Dr. Greenberg Medical Center . Drujba Glassworks SA . Dundee Precious Metals Inc. DuPont Bulgaria EOOD . Economedia . EcoPack Bulgaria AD . Edenred Exchange Rates Clauses Are Matter Bulgaria . Ekoterm Proekt EAD . Ekotoi - Service Ltd. Ekzotika EOOD . EL-A-Project Ltd. Eldrive . Electron Progress EAD . Eli Lilly and Company . Eltrak Bulgaria Ltd. eMAG . EMC of Thorough Consideration Computer Systems Austria GmbH . Emerson Process Management . EnergoService AD . .35 Engineeringservice Sofia Ltd. Enterprise Communications Group OOD . EOS Matrix Ltd. EPAM %<7=9(7(/,1$',0,7529$$77251(<$7/$: Systems Bulgaria . EQE Control OOD . Ernst & Young Bulgaria EOOD . ESRI Bulgaria Ltd. *(25*,(972'2529 &2/$:2)),&(6 Eurobank Bulgaria . European Bank for Reconstruction and Development (EBRD) . European Trade Center EOOD . EVS Translations Bulgaria . Expat Capital . Experian Bulgaria EAD . FairPlay International . Fama Consulting OOD . Flying Cargo Bulgaria Ltd. - Licensee of FedEx . Force Delta cradle Ltd. Forton AD . Foundation Glob@l Libraries - Bulgaria