issue 69 may 2006 Bulgaria, United States Sign on Joint Training Facilities ■ IMF Performance Review Completed With Three Waivers ■ AmCham and Symix Host an Award Ceremony ■ Maritsa Forum Mulls Infrastructure, Industrial Zones and Support of SMEs ■ Member News ■ New Members NATO IN SOFIA: An April Walk Through a Global Agenda American Chamber of Commerce in Bulgaria Business Park Sofia, Mladost 4 Area, Building 2, Floor 6, 1715 Sofia Tel.: (359 2) 9769 565 Fax: (359 2) 9769 569 homepage: www.amcham.bg e-mail: [email protected] editorial Dear Readers: Each of us has a personal interpretation of the beneficial corollaries for Bulgaria from the just-concluded NATO meeting in Sofia (please read in-depth analyses by Boyko Vassilev and Panayot Angarev on pp. 4-14). Most of you, too, have a position on whether Bulgaria and Romania's EU entry will be delayed by a year. Neither I, nor any other journalist can answer this question definitively at this time (for details, see Yuliana Boncheva's article on p. 22.) NATO and the European Union have been subjects of numerous articles in our publica- tion, among others. So I would rather switch your attention toward another topic now. Namely, it is the story by Chris Warde-Jones in the New York Times on Sofia as a tourist destination, which was published in the newspaper of record in early May. (We present it for you on p. 44.) This travel feature offers a refreshing view of the Bulgarian capital, written by someone who was impressed by images of the city that are, generally speaking, flattering. We, the denizens of Sofia, run our cars into terrible potholes, cross to the other side of the street to avoid stinking trash containers, stress out over our businesses, and overall have little time to dwell on the niceties of our home city. I suggest you read this New York Times story in lieu of a little excursion to Sofia - a trip that business-fixated citizens have not time or inclination to take otherwise. You will be reminded, for instance, that in the capital's center less than 500 meters separate an Eastern Orthodox church, a mosque and a synagogue. You will also realize that Sofia is considered by many visitors to be a green city with a distinct character and pleasant ambiance. It is truly important to appreciate the fact that such an influential publication has taken 2006 May Magazine AmCham Bulgaria the stand that Sofia is a place to be seen in person by the sophisticated traveler. I recently watched a CNN story by Richard Quest about real estate investment in Bulgaria's winter resorts, which was also full of praise for our country. Two authoritative media outlets have shown Bulgaria in positive light within a short period of time. This makes me wonder whether our pessimistic attitudes are not, in fact, too glum? Are we sweating the small stuff too much? Of course, poor infrastructure and high taxes are page not exactly small stuff, but still, aren't we forgetting to look at the big picture in Bulgaria? 1 The New York Times, CNN and NATO's foreign ministers saw the positives in our city and country. When are we going to notice them as well? Yours truly, Milen Marchev Editor-in-Chief contents issue 68 april 2006 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 1715, Bulgaria Yuliana Boncheva e-mail: [email protected] www.amcham.bg Advertising AmCham Bulgaria: Editor-in-Chief Nadejda Vakareeva, [email protected] Milen Marchev AmCham Bulgaria Magazine: Milen Marchev, [email protected] Deputy Editor-in-Chief: Christopher Karadjov The AmCham Bulgaria Magazine reaches a broad audience Senior Editor: of AmCham members, leading US, Bulgarian and internation- Irina Bacheva al companies, US and Bulgarian decision-makers, all AmChams around the world. Layout, Design & Printing: Subscription is free of charge. If you would like to subscribe Milen Marchev to AmCham Bulgaria publications, please contact the AmCham Bulgaria office. iF YOUR AD WERE pLACED HERE, AMCHAM ADVERTISING RATES BACK COVER ....................1330 BGN YOUR MESSAGE SECOND COVER ................1220 BGN THIRD COVER ..................1180 BGN • WOULD BE CONVEYED TO THE LEADING US, INTERNATIONAL AND TWO PAGES SPREAD ............1440 BGN BULGARIAN COMPANIES OPERATING WITHIN BULGARIA; FULL PAGE ........................960 BGN HALF PAGE ........................780 BGN • WOULD REACH THE DESKS OF SENIOR EXECUTIVES AND DECISION-MAKERS QUARTER PAGE ....................580 BGN WHODEMANDHIGHQUALITYPRODUCTSANDSERVICES; LOGO ..............................350 BGN INSERT ............................840 BGN • WOULD TRAVEL ACROSS THE EUROPEAN CONTINENT AS WELL AS THE UNITED STATES, TAKING FULL ADVANTAGE OF THE INTERNATIONAL NET- DISCOUNTS: WORK OF AMERICAN CHAMBERS OF COMMERCE; 2 AMCHAM MEMBERS ..................20% • WOULD SERVE AS AN IDEAL NETWORKING OPPORTUNITY FOR POTENTIAL ADVERTISING AGENCIES ..............15% FOREIGN INVESTORS AND BUSINESSMEN VISITING BULGARIA. MAX VOLUME DISCOUNT ............10% THE RIGHT MESSAGE TO THE RIGHT AUDIENCE. For more details please contact: AmCham Bulgaria Office – Nadia Vakareeva, phone: 976 95 65, e-mail: [email protected] AmCham Bulgaria Magazine – Milen Marchev, phone: 846 88 32, e-mail: [email protected] AmCham Bulgaria Magazine May 2006 May Magazine AmCham Bulgaria amcham bulgaria Board of Directors of the American Chamber of Commerce in Bulgaria President Mr. Borislav Boyanov Borislav Boyanov & Co. Vice President Mr. Stefan Dimitrov Allied Pickfords Bulgaria Contents Second Vice President Mr. David Hampson Grenville Financial Treasurer Mr. Anthony Hassiotis Bulgarian Postbank cover story NATO IN SOFIA: An April Walk Members Mr. Kenneth M. Lefkowitz New Europe Corporate Advisory Through a Global Agenda . .4 Mrs. Olga Borissova AUBG, Director European Programs By Boyko Vassilev Mrs. Tanya Kosseva Landmark The Border Issue, Or How the Mr. George Randelov IBM Bulgaria Alliance Spreads in All Directions . .10 Mrs. Elitsa Tsaneva Ideal Standard Bulgaria By Boyko Vassilev Mrs. Maria Vranovska Eli Lilly and Company Ms. Evgenia Stoichkova Coca-Cola Bulgaria defense Mr. Christopher Thompson Bearing Point, CLRP Bulgaria, United States Ex-Officio Member Mr. James Rigassio US Senior Commercial Officer Sign on Joint Training Facilities . .12 Executive Director: Valentin Georgiev By Panayot Angarev 3M (East) AG . AA KRES EOOD . ABB Bulgaria Ltd. AbCRO - Bulgaria . Accor society . .Services Bulgaria ACSIOR. ADIS. Ltd. Advance International. Transport (Balkan) EAD Bulgarians Are Unhappy, Poor and Rich Alike . .16 AES Corporation AFA. OOD AGS Bulgaria. Ltd. AIG Bulgaria. Insurance & By Marina Tsvetkova Reinsurance Company EAD. AIG Life Bulgaria AIMS. Human Capital ALEXANDROV. GROUP CORPORATION. Allan Collautt Associates,. Inc. Allied Pickfords Bulgaria Alter. eu analysis Ego Company OOD American. College of Sofia American Construction. Products JSC Bulgaria and Romania: Observed and Warned . .20 American English. Academy American University .in Bulgaria (AUBG) Anglo-American. By Yuliana Boncheva .School of Sofia Anton Preslavski, Liebert. Hiross APIS - .BULGARIA Ltd. APOLO Ltd.. Argento Human Resource Solutions Aries Commerce. Ashtrom International. AD analysis Association of Bulgarian Broadcasters - ABBRO AT Engineering 2000 Ltd. Auditing Company Versi and Partners Ltd. Avendi Ltd. AVON Cosmetics Bulgaria Ltd. Balkan IMF Performance Review Completed News Corporation Plc. Balkan Star . Baxter AG . Bayer Bulgaria EOOD . BearingPoint, With Three Waivers . .28 Inc. BG Radio . BMG Ltd. Bodyguard-Fire-K Ltd. Borislav Boyanov & Co. Braykov's Legal Office . Bristol-Myers Squibb . Brown Forman Beverages Worldwide Sofia amcham events Branch LLC . BULBANK . Bulgarian American Enterprise Fund . Bulgarian Charities Aid AmCham and Symix Host an Award Ceremony . .30 Foundation (BCAF) . Bulgarian Post Bank . Bulgarian Telecommunications Company EAD . Business Media Group . Business Park Sofia EOOD . CA IB Bulinvest . CableTel . Bulgarian Managers Have a Lot to Learn, Car Rental Bulgaria Ltd. Cefin Bulgaria EOOD (IVECO dealer) . Center for the Study of Says APICS President 2005 . .31 Democracy . Chelopech Mining EAD . Cisco Systems Bulgaria . Citibank N.A.- Sofia By Irina Bacheva Branch . City University . Clockwork Ltd. CMS Cameron McKenna EOOD . Coca- Cola Bulgaria EOOD . Coca-Cola HBC Bulgaria SA . COLLIERS International . EU Affairs Committee Presents ConsulTeam Recruitment and Selection Ltd. Cook Communications . Corstjens Worlwide ABCs of EU Structural Funds . .32 Movers Group . CPM International Ltd. Curtis / Balkan Ltd. DeConi M&A . Deloitte Bulgaria EOOD . DHL Express Bulgaria Ltd. Diageo Bulgaria Ltd . Diamed Ltd. regional development Dimitrov, Petrov & Kalaidjiev . DIMON Bulgaria . Djingov, Gouginski, Kyutchukov, & Velichkov Maritsa Forum Mulls Infrastructure, Industrial Zones . Dobrev, Kinkin & Lyutskanov Law Firm . Domaine Boyar AD . Dr. Emil Benatov & Partners . Dr. I.S. Greenberg Medical Center, Ellen Ruth Greenberg, Ph.D. DynCorp International LLC and Support of SMEs . .34 . Effekten Und Finanz - Sofia AD . Electron Progress AD . Eli Lilly and Company