cconcessions oncessions ggame changesame changes€¦ · amcham bulgaria magazine is a primary...

A m e r i c a n C h a m b e r o f C o m m e r c e i n B u l g a r i a

h o m e p a g e : w w w . a m c h a m . b g e - m a i l : a m c h a m @a m c h a m . b gBus in e s s Pa rk So f i a , M lado s t 4 A re a , Bu i l d ing 2 , F l o o r 6 , 1 7 6 6 So f i a

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Concessions Concessions Game ChangesGame Changes

i s s u e 1 6 8m a y - j u n e 2 0 1 6

Analyses:Analyses:A Joker in the Pension PackA Joker in the Pension Pack

The Referendum TemptationThe Referendum Temptation

The Hot Summer of 2016 The Hot Summer of 2016 in the U. S.in the U. S.

AmCham Events:AmCham Events:Ambassador Rubin Sums Up Ambassador Rubin Sums Up U.S-Bulgaria Par tnershipU.S-Bulgaria Par tnership

AmCham, BCAF Spearhead AmCham, BCAF Spearhead Volunteer DaysVolunteer Days

CheckPoint Cardio Monitors CheckPoint Cardio Monitors Patients RemotelyPatients Remotely

Investment Advisor y, Investment Advisor y, Real Estate Companies Hold Real Estate Companies Hold M2M MeetingsM2M Meetings

Member News:Member News:EY Bulgaria, Visteon EY Bulgaria, Visteon Corporation, Corporation, Mtel, Sitel, Siemens Mtel, Sitel, Siemens Healthineers, TMF GroupHealthineers, TMF Group

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AmCham Bulgaria Magazine is a primary forum for political and economic analyses, news, viewpoints as well as for the presentation of new business opportunities. 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.

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a m c h a m b u l g a r i a

Contentsc o v e r s t o r y

. . . . . . . . . . . . . . . . 4By Marina Georgieva

a m c h a m e v e n t s

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a n a l y s i s

. . . . . . . . . . . . . . . .14By Mina Georgieva

. . . . . . . . . . . . . . . .18By Boyko Vassilev

u . s . e l e c t i o n

. . . . . . . . . . . . . . . . . . .21Text and photos by Christopher Karadjov

a n a l y s i s

. . . . .24By Nadezhda Bocheva


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m e m b e r n e w s & a n a l y s e s

. . . . . . . .29By Milen Raikov, Executive director, EY Tax, Law, Bulgaria, Macedonia,

Albania, Kosovo & Co-chairman of AmCham Bulgaria’s Tax and Financial

Committee

. . . . . . . . . .30Nevena Kovacheva and Pavlina Raytcheva,

EY Bulgaria, People Advisory Services

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n e w m e m b e r s . . . . . . . . . . . . . . . . . . . . .36

3M Bulgaria EOOD . AA KRES EOOD . AbbVie EOOD . Abrites . Accedia . Actavis Bulgaria EAD . Adecco Bulgaria Ltd. . ADM Bulgaria Trading EOOD . Advance International Transport EOOD . AES Corporation . AFA OOD . AGORA-IN Ltd. . AIG Europe Limited (Bulgaria Branch) . AIMS 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 Center in Sofia . American University in Bulgaria (AUBG) . Amgen Bulgaria EOOD . Amway 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 . Astra Zeneca Bulgaria EOOD . AT Engineering 2000 Ltd. . Atlantic Club Bulgaria . Atos IT Solutions and Services EOOD . Attica Eva AD . August Research . Auto Bavaria Ltd. . Auxionize Jsc . AVAir Ltd. . AVON Cosmetics Bulgaria . AW-Tronics LLC . Axway Bulgaria EOOD . Baker Tilly Bulgaria . Balkan Star Automotive EOOD . Ballistic Cell Ltd. . Baxter Bulgaria EOOD . BG Radio . BICA International Ltd. . BMG Ltd. . BMW Vertriebs GmbH - Branch Bulgaria . BNP Paribas S.A. - Sofia Branch . Bojinov & Bojinov . BOYANOV & Co. . Braykov's Legal Office . British American Tobacco Bulgaria . Brown-Forman Bulgaria Ltd. . Bulgarian Charities Aid Foundation (BCAF) . Bulgarian Executive Search Association . Bulgarian International Television . Bulgarian Property Developments EOOD . Bulgarian Tennis Federation . Bulgarian-American Commission for Educational Exchange Fulbright . Bulgarian-American Credit Bank . BulPros Consulting JSC . Bulstrad Life Vienna Insurance Group . Business Intellect Ltd. . Business Park Sofia EOOD . C3i Europe EOOD . CAD R&D Centre Progress Ltd. . Castello Precast OOD . Center for the Study of Democracy . CEZ Bulgaria EAD . Chaos Software ltd. . Cheque Dejeuner Bulgaria Ltd. . Cibank JSC . Cisco Systems Bulgaria . Citibank Europe Plc, Bulgaria Branch . CMS Cameron McKenna LLP - Bulgaria Branch . Coca-Cola Enterprises Services Bulgaria EOOD . Coca-Cola HBC Bulgaria AD . Coface Bulgaria Credit Management Services EOOD . COLLIERS International Bulgaria . Comverse Bulgaria . Congress Engineering Ltd. . Contitrans M Ltd. . ContourGlobal Maritsa East 3 AD . Curtis / Balkan Ltd. . DA Travel Ltd. . Danailov, Drenski, Nedelchev & Co. . Delchev & Partners Law Firm . Deloitte Bulgaria EOOD . denkstatt Bulgaria OOD . Dentsu Aegis Network Bulgaria OOD . Deutsche Bank AG . Devin AD . DHL Express 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 . EcoPack Bulgaria AD . Edenred Bulgaria . Ekoterm Proekt EAD . Ekotoi - Service Ltd. . Ekzotika EOOD . EL-A-Project Ltd. . Electron Progress EAD . Eli Lilly and Company . Eltrak Bulgaria Ltd. . EMC Computer Systems Austria GmbH . Emerson Process Management . EnergoService AD . Engineeringservice Sofia Ltd. . Enterprise Communications Group OOD . EOS Matrix Ltd. . EPAM Systems Bulgaria . EQE Control OOD . Ernst & Young Bulgaria EOOD . ESRI Bulgaria Ltd. . 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 Ltd. . Forton AD . Foundation Glob@l Libraries - Bulgaria . Founders Foundation . Galardo Real Estate . Garitage Investment Management EOOD . Gasstroymontaj Jsc . General Electric International . Georgiev, Todorov & Co. . Geostroy AD . Geotechmin OOD . Geotrading AD . GfK Bulgaria, Market Research Institute EOOD . Gi Group . GIFTA . Grand Hotel Sofia . GSK . GTC Bulgaria . Gugushev & Partners Law Office . Harley-Davidson Sofia . Helios Power Jsc . Hewlett-Packard Enterprise . Hilton Sofia . Holzindustrie Schweighofer . Honeywell EOOD . Hotel Marinela Sofia . HP Inc Bulgaria EOOD . Hydroenergy Company JSC . IBM Bulgaria . ICAP Bulgaria JSC . IDC Bulgaria . Ideal Standard - Vidima AD . Imperial Tobacco Bulgaria EOOD . Industrial Holding Bulgaria . Ingram Micro SSC EMEA EOOD . InterConsult Bulgaria Ltd. . Interlang Ltd. . International Legal Advice center - ILAC . Intertek BA . Intracom Bulgaria EAD . Investbank JSC . Investor BG AD . IP Consulting Ltd. . Japan Tobacco International Bulgaria . Jobs.bg EOOD . JobTiger Ltd. . Johnson & Johnson Bulgaria EOOD . Junior Achievement Bulgaria . KAI Group . Kalamaris Group . Kambourov & Partners Attorneys at Law . Kamenitza AD . Katilin Popov Enforcement Officers . Kempinski Hotel Grand Arena Bansko . Kinstellar . Kolcheva, Smilenov, Koev and Partners Law Firm . KPMG Bulgaria OOD . LANDMARK Property Management AD . Law Firm McGregor & Partners . Lexim Sofia Co. Ltd. . Lindner Immobilien Management EOOD . Lirex BG Ltd. . M3 Communications Group, Inc. Hill+Knowlton Strategies Partner . Maria Vranovska, MD, MBA . Mars Incorporated Bulgaria EOOD . Marsh LLC. . MBL| Part of the CBRE Affiliate Network . Medical Center AmeriMed . Megatron EAD . Mellon Bulgaria EAD . Merck Sharp & Dohme Bulgaria . MetLife Europe Ltd. - Bulgaria Branch . Microsoft Bulgaria . Miltech Ltd. . Minstroy Holding Jsc . Mnemonica . Mobiltel EAD . Monbat Plc. . Mondelez Europe Services GMBH - Bulgaria branch . Moten Sport . Moto-Pfohe Ltd. . Mr. Alex Nestor . Mr. David Hampson . Mr. Jean Talmon . Mr. Kalin Kostov . Mr. Nikolay Ouzounov . Ms. Kalinka Kovatcheva . Ms. Margarita Radeva, CPA . MTAC . Municipal Bank Plc . Musala Soft AD . Mylan EOOD . National Network for Children . NDB Ltd. . Nemetschek Bulgaria . NEXTDOOR Ltd. . Novacon Bulgaria Ltd. . Novotel Sofia . On Bulgaria Ltd. . Oracle East Central Europe Limited - Branch Bulgaria . Orak Group Europe Ltd. . Orbit Ltd. . Panchim Ltd. . PANDA - IP Ltd. . pCloud . Pedersen & Partners . Penev LLP . Penkov, Markov & Partners . Pfizer Luxembourg SARL Branch Bulgaria . Philip Morris Bulgaria EOOD . Philips Bulgaria Ltd. . PPD Bulgaria EOOD . Premier Luxury Mountain Resort . Premier Tours Ltd. . Prestige 96 AD . Provident Financial Bulgaria Ltd. . PSG Payroll Services Ltd. . PwC Bulgaria . Quintiles Bulgaria Ltd. . Radisson Blu Grand Hotel . Raiffeisen Investment Bulgaria EOOD . Raiffeisenbank Bulgaria EAD . Red Devil Catering Plc . Refan Bulgaria Ltd. . Regus Bulgaria Ltd. . Renault Nissan Bulgaria SRL . Right Rental Ltd. . RSM BX Ltd. . S&T Bulgaria EOOD . Sanofi - Aventis Bulgaria EOOD . Santa Fe Relocation Services . Sb Accounting and Consulting . Schenker EOOD . Schneider Electric Bulgaria . SECTRON . Sensata Technologies Bulgaria EOOD . Shell Bulgaria EAD . Sherita M Ltd. . Siemens EOOD . Siemens Healthcare EOOD . SIENIT Holding . Silver Ridge Power . Sitel Bulgaria EOOD . Sodexo Pass Bulgaria EOOD . Sofia Airport Center EAD . Sofia Hotel Balkan . Sofita Translation Agency . Sogelife Bulgaria IJSC . Sopharma AD . Sopharma Trading JSC . Sportal.bg JSC . Stanton Chase International Bulgaria . Stefan Dimitrov, Norman Realestate Co. Ltd. . Sterling Serviced Office Group . Sunfoods Bulgaria EOOD - Development Licensee of McDonald’s in Bulgaria . Sutherland Global Services Bulgaria EOOD . Synchron-S OOD . Tavex EOOD . TBI Bank EAD . TechnoLogica EAD . Telelink EAD . Telenor Bulgaria . TELUS International Europe . The Coca-Cola Company Bulgaria . Titan Zlatna Panega Cement . TMF Services EOOD . Tocheva & Mandazhieva Law Office . Uber Bulgaria EOOD . UniCredit Bulbank . UniCredit Leasing EAD . Unimasters Logistics Plc . Unique Estates . United Bulgarian Bank . Veolia Energy Bulgaria EAD . Videolux Holding / Technopolis . VIP Security Ltd. . VISA Europe . Visteon Electronics Bulgaria . Vitosha Soft Ltd. . VIVACOM . VMware Bulgaria EOOD . VSK Kentavar - IZ Dinamika EOOD . VUZF University Higher School of Insurance and Finance . Walltopia Ltd. . Welcome to Bulgaria . Westinghouse Energy Systems Bulgaria Branch . Woodward Bulgaria EOOD . World Courier Bulgaria Ltd. . World Transport Overseas Bulgaria Ltd. . WorleyParsons Nuclear Services JSC . Xerox Bulgaria Ltd. . Xogito Ltd. . Yatoto . Zlatina Ruseva-Savova, LL.M., MBA . Zobele Bulgaria EOOD .

Board of Directors of the American Chamber of Commerce in Bulgaria

President Ms. Krassimira Chemishanska Amgen Bulgaria

Vice President Mr. Venislav Iotov AIG Europe Limited (Bulgaria Branch)

Vice President Mr. Alex Nestor Individual Member

Treasurer Ms. Stanislava Taneva Citibank Europe Plc, Bulgaria Branch

Members Mr. Iravan Hira Hewlett Packard Enterprise Bulgaria

Mr. Petar Ivanov Microsoft Bulgaria

Mr. Stoyan Ivanov The Coca-Cola Company Bulgaria

Mr. Sergey Koinov AG Capital

Mr. Olivier Marquette AES Bulgaria

Mr. Solomon Passy Atlantic Club Bulgaria

Ms. Zlatina Ruseva-Savova individual member

Mr. Plamen Zhechev Cisco Systems Bulgaria

Ex-Officio Member Ms. Maria Galindo Senior Commercial Officer, U.S. Embassy

Executive Director Mr. Valentin Georgiev

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Concessions Game ChangesThe management of prisons, museums, cultural and historic sites and various types of social services by private-owned companies becomes possible with the new law

By Marina Georgieva

Bulgaria Transport Ministry invited bids for Sofia Airport concession and the most important factor would be the size of the concession payments.

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According to Tomislav Dontchev, deputy prime

minister of European funds, every concession with a

term over 50 years, will be approved by the parlia-

ment.

The Agency of privatisation and post privatisation control (APSK) will acquire new functions – it will check

how already concluded concession contracts are being fulfilled, said the economy minister Bojidhar Lukarski.

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Ore mining, natural gas producing companies have biggest contribution to concession revenue

Ivaylo Moskovski is making a prediction, that the net effect for the country from the concession of Sofia Airport

will be about 1.2 billion leva for the complete period.

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Concession e-register

AmCham Public Procurement and EU Funding Advisory Committee submitted proposals on the new Draft Concession Act.

COMMERCIAL & COMPANY LAW

MERGERS & ACQUISITIONS

ADMINISTRATIVE LAW& PUBLIC PROCUREMENT

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IT, MEDIA & TELECOMMUNICATIONS

SINCE 1990

AT HOME WORLDWIDE

e-mail: [email protected] ∙ www.penkov-markov.eu ∙ telephone: (+359 2) 971 3935

100 COUNTRIES

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WITH ACCESS TO

IFLR 1000:“They are the bestwhen it comes to advising investors,they know how the law works…”

Legal: 500:“Excellent, comprehensiveand responsive services”

Chambers Europe:“More western than others”“One of the best in Bulgaria”“Excellent – prompt,efficient and extremelyknowledgeable of the localenvironment”

Chambers Global:“Innovative and practical,entirely client & businessoriented”

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Find the full text of the business proposals on www.amcham.bg, Position papers section

AmCham Comments on Concessions Act Draft

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Ambassador RubinAmbassador Rubin Sums Up U.S-BulgariaSums Up U.S-Bulgaria Par tnershipPar tnership

Sofia Hotel Balkan hosted the business luncheon with the U.S. Ambassador.

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From left: AmCham BoD members Venislav Iotov, AIG Europe Limited, Olivier

Marquette, AES Corporation, Sergey Koinov, Forton International, and Petar

Ivanov, Microsoft Bulgaria.

Eric Rubin, U.S. ambassador (second left) with BoD members Iravan Hira, Hewlett-

Packard Enterprise, Krassimira Chemishanska, AmCham president, Zlatina Ruseva-

Savova, attorney-at-law, and Alex Nestor, AmCham vice president.

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A Joker in the Pension PackFinance Minister Vladislav Goranov has proposed yet another set of amendments to the Social Security Code that reform completely the second pillar of the pension system: private companies

By Mina Georgieva

Average pension in Bulgaria in 2015 was 340 Levs (close to 170 euros).

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Statistics

Minister of Finance Vladislav Goranov proposed the trade unions to be the only

legitimate representatives of the insured persons to discuss and outline the best

solution for pension system together with experts from the Financial Supervision

Commission and from the businesses.

From 2002 to 2015 close to 10 billion BGN were collected from contributions of

future retirees, with 1 billion. BGN already paid to pensioners, said Nikola

Abadzhiev, chair of Association of private pension funds.

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Pension funds’ assets reach 9.535 billion Leva

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The Referendum Temptation

By Boyko Vassilev

British Prime Minister David Cameron (R) and Mayor-elect of London Sadiq Khan (L) greet supporters during the launch of the battle bus for the `Remain In`

campaign at Froebel College of the University of Roehampton in London, Britain, May 30, 2016. Khan and Cameron will continue to campaign around the United

Kingdom in the lead up to the EU referendum on 23 June.

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A cyclist takes a look at a painted image of former London Mayor Boris Johnson (R) and US Presidential candidate Donald Trump (L) in Stokes Croft in Bristol,

Britain. Boris Johnson is supporting the Brexit campaign, ahead of a referendum on whether Britain should remain in or leave the EU on 23 June.

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The Hot Summer of 2016Trump and Sanders rallies in California yield warning signs for the remainder of the presidential campaigns

Text and photos by Christopher Karadjov

A worrisome transformation: This posing girl – a Trump supporter - surprised

me by jumping on a Mexican woman and her child.

Against the tide: A girl holds a pro-immigration slogan in the midst of young

Trump supporters in Anaheim, California.

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The other America: A Muslim woman from Orange County, California, during a rally with the Democratic contender Bernie Sanders.

Bad for business: A group of sheriff ’s deputies on horseback patrolling in front of

California’s Disney World after a Trump rally across the street.

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May 2016: A supporter and opponent of the presumptive Republican presidential

nominee Donald Trump argue politely in Anaheim, California, while the police

closes in to disperse what remained of the crowds.

National colors? Anti-Trump protesters waved the Mexican f lag in California;

at one event a U.S. f lag was burned.

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Filtering Carpooling Ser vices – Is It Possible?

By Nadezhda Bocheva

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SAS Technologies Help Analyze Big Data

Sofia Hotel Balkan hosted SAS Analytics Roadshow conference and showcased sophisticated analytical data software in the lobby.

Plamen Zhechev, Enterprise and Public Sector

Manager.

Nikos Peppas, Country Manager, SAS, Greece, Cyprus, Bulgaria.

Brad Hathaway, Regional Advisory Technical Manager Data Management,

SAS.


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AmCham, BCAF Spearhead Volunteer Days

Volunteers Report

Planting of fruits and f lowers at the school for deaf children in Monastery

Meadows district. Cleaning of Boyana church park.

The art of making good chocolate at the Factory.

Opening of the spring campaign at the Military Museum.

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OSAC Deliberates Geopolitics, Regional Security Threats

CheckPoint Cardio Monitors Patients Remotely

U.S. Ambassador Eric Rubin addresses the audience.

Telemonitoring in real time: physicians analyze data from the patients remotely.


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Investment Advisor y, Real Estate Companies Hold M2M Meetings

Iliya Komitov, Corporate Marketing Director at FairPlay International, (left), meets with the management

team of Matrix Relocations.

Olivier Marquette, AES Corporation confers with Nikolay Neov, MBL.

Christopher Christov, Penev LLP (left) meets with Vyara Stankova, Deputy

General Manager, Intertek BA.

David Davidov, Managing Partner, Garitage Investment Management EOOD

meets with MBL team.

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Binding Opinions Increase Tax CertaintyBy Milen Raikov, Executive director, EY Tax, Law, Bulgaria, Macedonia, Albania, Kosovo &

Co-chairman of AmCham Bulgaria’s Tax and Financial Committee


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Understanding Reward: Essential for Your Corporate Strategy

Nevena Kovacheva and Pavlina Raytcheva, EY Bulgaria, People Advisory Services

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Mtel Showcases 4,5G Network for the First Time in BulgariaThe company is now offering up to 130 Mbps mobile data speeds for its clients

Visteon Opens New Offices


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Sitel to Offer 200 New Jobs, to Invest Another 1 Million USD to grow in the country, Says Maya Yaneva, Site Director

From left: George Uzunov, Regional Director Germany and Eastern Europe, Sitel, Daniela Vezieva, deputy

minister of economy, and Bert Quintana, Chairman of the BoD, Sitel.

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Management, Consulting and Digital Services to Enrich Siemens Healthineers PortfolioSays Todor Vodenicharov Ph.D, is Managing Director of Siemens Healthcare


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Managing Accounting and Tax Compliance in Foreign Markets*

*This article originally appeared in TMF Group’s Media Centre - tmf-group.com

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n e w m e m b e r s

Right Rental is exclusive representative for Bulgaria 0700 13 700, [email protected], www.rightrental.net

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cconcessions oncessions ggame changesame changes€¦ · amcham bulgaria magazine is a primary...

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