The Big Job Interview Amcham Bulgaria Conducts Internship Programs Survey
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issue 93 october 2008 Analysis: Bulgaria and the Financial Crisis - Special Report by ISI and an Article from Institute of Market Economy News: Ratification of the U.S. - Bulgaria Treaty on Avoidance of Double Taxation Events: Public Affairs Committee Initiates Discussion on IPR Issues Six New Members of AmCham Join the Community The Big Job Interview AmCham Bulgaria Conducts Internship Programs Survey American Chamber of Commerce in Bulgaria Business Park Sofia, Mladost 4 Area, Building 2, Floor 6, 1766 Sofia Tel.: (359 2) 9742 743 Fax: (359 2) 9742 741 homepage: www.amcham.bg e-mail: [email protected] editorial Dear Members and Friends, With less than two weeks left until Election Day it is obvious that the financial crisis that has engulfed the banking system has led to a dramatic economic backdrop to the United States presidential elec- tions. Both candidates Barack Obama and John McCain welcomed the $ 700 billion rescue package which in itself went through frantic biparti- san talks at the White House and a dramatic vote in the Congress. The bailout was substantially improved in the negotiations by imposing better protections for the public interest but despite how good the plan is it does not seem to calm the markets. Meanwhile in an effort to address the credit crisis on the other side of the Atlantic the European finance ministers have agreed to raise the minimum guarantee of bank deposits to 50,000 euros across all EU member states and to work together on a package of other measures to limit the negative impact of the financial tensions in their economies. That has not yet produced the needed stability in the markets either. Thus as the financial crises unfolded over the past month the economic issue has shot the political agenda of both candidates. That has become apparent even in the first presidential debate which was supposed to be about foreign policy, but much of it focused on the economy. So as it is too early for the financial rescue package to restore confidence, the economic issue is becoming of paramount importance for the American voters and it makes them aware that whoever would elected president must be capable of handling the crisis with leadership and authority. AmCham Magazine Bulgaria 2008 July Best regards, Valentin Georgiev Executive Director page 1 contents issue 93 october 2008 AmCham Bulgaria Magazine is a primary forum for political and economic analyses, news, viewpoints as well as for the presentation of new business oppor- tunities. The articles in the AmCham Bulgaria Magazine express the opinions of the authors and do not necessarily reflect the position of the American Chamber of Commerce in Bulgaria. Publisher Writers: American Chamber of Commerce in Bulgaria Boyko Vassilev, Marina Tzvetkova, Business Park Sofia, Mladost 4 Area Mina Georgieva, Panayot Angarev, Building 2, Floor 6, Sofia 1766, Bulgaria Yuliana Boncheva Tel.: +359 (2) 9742 743 Fax: +359 (2) 9742 741 Advertising e-mail: [email protected] AmCham Bulgaria: www.amcham.bg Nadejda Vakareeva, [email protected] AmCham Bulgaria Magazine: Editor-in-Chief Milen Marchev, [email protected] Milen Marchev Deputy Editor-in-Chief: The AmCham Bulgaria Magazine reaches a broad audience Christopher Karadjov of AmCham members, leading US, Bulgarian and internation- al companies, US and Bulgarian decision-makers, all Senior Editor: AmChams around the world. Irina Bacheva Subscription is free of charge. If you would like to subscribe to AmCham Bulgaria publications, please contact the ISSN 1312-935X AmCham Bulgaria office. 2 AmCham Magazine Bulgaria 2008 July amcham bulgaria Board of Directors of the American Chamber of Commerce in Bulgaria President Mr. Borislav Boyanov Borislav Boyanov & Co. Vice President Mr. Anthony Hassiotis Bulgarian PostBank Vice President Mr. Kenneth M. Lefkowitz New Europe Corporate Advisory Contents Treasurer Tanya Kosseva-Boshova Landmark Property Bulgaria cover story AmCham Bulgaria Conducts Members Mr. George Georgiev Motorola Bulgaria Internship Programs Survey ..................................... 4 Mr. Thomas Higgins Balkan Accession Fund By Irina Bacheva, Sevdalina Voynova Mr. Andon Ichev General Electric Mr. Stefan Ivanov Citibank N.A. Bulgarian Market Demands Mr. Bernard Moscheni BTC More Middle Management ....................................... 5 Ms. Dana Leff AbCRO Bulgaria By Silvia Umnikova, Consultant, Alexander Hughes Bulgaria Mr. Chris Thompson Consultant Microsoft Relies on Internships Ms. Elitsa Tsaneva Ideal Standard Bulgaria to Find Its Pearl Leader ........................................... 6 Ex-Officio Member Mr. Scott Pozil US Senior Commercial Attache By Diana Stoeva, HR Manager Bulgaria, Macedonia, Cyprus, Executive Director Valentin Georgiev Malta and Albania, Microsoft Businesses Lack Flexible System 3M (East) AG . AA KRES EOOD . ABB Bulgaria EOOD . Abbott Laboratories S.A. AbCRO - Bulgaria . for Employment of Interns ....................................... 7 Accor Services Bulgaria . ACO Building Elements Ltd. ACSIOR Ltd. ADIS Ltd. Advance International Transport (Balkan) EAD . AES Corporation . AFA OOD . AIG Bulgaria Insurance & Reinsurance Company By Emil Georgiev, Human Resources Director, Postbank EAD . AIG Life Bulgaria . AIMS Human Capital . Alcoa Packaging Bulgaria . Alexander Hughes Bulgaria OOD . ALEXANDROV GROUP CORPORATION . Alfred C.Toepfer International . Alliance One Tobacco 300 Students Joined UniCredit Team Bulgaria . Allied Pickfords Bulgaria . Alter Ego Company OOD . American College of Sofia . American After Successful Intern Programme in 2008 ............... 8 English Academy . American Resarch Center in Sofia . American University in Bulgaria (AUBG) . Anglo- American School of Sofia . Anton Preslavski, Liebert Hiross . APIS - BULGARIA Ltd. APOLO Ltd. Aries Commerce . Ashtrom International Ltd. Association Integra-BDS . Astra Zeneca UK Ltd. Astral Holidays Perfecting of Social Skills is AD . AT Engineering 2000 Ltd. Auditing Company Versi and Partners Ltd. AVON Cosmetics Bulgaria Ltd. Essential in Work .................................................... 9 . BAE Systems International Ltd. Balkan Accession Fund . Balkan News Corporation Plc. Balkan Star Automotive EOOD . Baxter AG . Bayer Bulgaria EOOD . BC Serdon . Berlitz Schools of Languages . The Challenge is to Solve a Problem BG Radio . BMG Ltd. Bodyguard-Fire-K Ltd. Borislav Boyanov & Co. Braykov's Legal Office . British American Tobacco . Brown Forman Beverages Worldwide Sofia Branch LLC . Bulgaria Platinum Group When Taking Every Aspect of It ............................... 9 EAD . Bulgarian American Enterprise Fund . Bulgarian Charities Aid Foundation (BCAF) . Bulgarian Land Development EAD . Bulgarian Telecommunications Company AD . Bulgarian VIP Travel . Business Media “If You Listen Very Hard, Group . Business Park Sofia EOOD . CallPoint New Europe AD . Candole Partners EOOD . Car Rental the Tune Will Come to You at Last” ........................10 Bulgaria Ltd. Carlsberg Bulgaria AD . Cefin Bulgaria EOOD (IVECO dealer) . Center for the Study of Democracy . CENTURY 21 Bulgaria . Chelopech Mining EAD . Chris Thompson, Independent Consultant . Cisco Systems Bulgaria . Citibank N.A.- Sofia Branch . City University of Seattle . Cleves EOOD . news CMS Cameron McKenna EOOD . Coca-Cola HBC Bulgaria AD . Coface Bulgaria Credit Management Services Ratification of the U.S. - Bulgaria Treaty EOOD . Colgate-Palmolive Adria . COLLIERS International . ConsulTeam Recruitment and Selection Ltd. Cook Communications . Corstjens Worlwide Movers Group . CPM Consultancy Sllc . Curtis / Balkan Ltd. on Avoidance of Double Taxation ............................12 . D&IC (Dun and Bradstreet Representative) . DeConi International . Deloitte Bulgaria OOD . DENIMAR Ltd. Devin AD . DHL Express Bulgaria Ltd. Diageo Bulgaria Ltd . Diamed Ltd. Dimitrov, Petrov analysis & Co. Djingov, Gouginski, Kyutchukov, & Velichkov . DLA Piper Weiss-Tessbach Branch Sofia . Dobrev, Bulgaria and the Crisis ...........................................14 Kinkin & Lyutskanov Law Firm . Domaine Boyar International AD . Dr. Emil Benatov & Partners . Dr. I.S. Greenberg Medical Center, Ellen Ruth Greenberg, Ph.D. DuPont de Nemours International S.A. DynCorp By Dimiter Chobanov International LLC . Economedia AD . Effekten Und Finanz - Sofia AD . Ekotoi - Service Ltd. Electron Progress EAD . Eli Lilly and Company . Elido (Lamel Ltd.) . Elmec Sport Bulgaria EOOD . Elta consult Global Financial Crisis Poses Serious Risks to AD associated partner of CB Richard Ellis for Bulgaria . Emerson Process Management AG . Emporiki Bank Bulgaria’s Economy ................................................18 Bulgaria EAD . Encouragement Bank AD . Enel Maritza East 3 AD . Enemona SA . Engineeringservice Sofia Ltd. Environmental Quality Management, Inc. Epsilon Interactive International . Equest EAD . ERATO HOLDING Plc . Ernst & Young Bulgaria . European Bank for Reconstruction and Development (EBRD) interview . Faustina Group Ltd. Flying Cargo Bulgaria Ltd. - Licensee of FedEx . Force Delta Ltd. Forem Consulting Everyone Is Special At Bulgaria . Fortel Engineering LTD. Forton International JSCo . Foster Wheeler Energia Polska, Branch Office Bulgaria . Foundation for Local Government Reform . G4S Security Services Bulgaria JSC . General United Medical Group ............................................20 Electric International . General Security ltd. Genmark Automation Bulgaria Plc. GlaxoSmithKline . Global Benefits Group GBGI CEE LLC Representrative Office . Goodyear Dunlop Tires