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SOFIA, JANUARY, 2012

TAble OF CONTeNTS

Contents

Report of the Board of Directors page 2

Organizational Structure –

Board of Directors and AmCham Team page 9

Key Performance Indicators page 10

Membership 20�� page 12

AmCham Events 20�� page 22

AmCham Committees & Working Groups page 33

Our Speakers page 36

International Cooperation page 43

Financial Report 20�� page 44

AmCham Bulgaria Publications page 45

In the media in 20�� page 46

Audit Report 20�0 page 49

2

RepORT OF The bOARd OF dIReCTORS FOR The YeAR 2011

deAR AmChAm membeRS:On behalf of the American Chamber of Commerce Board of Directors it is my pleasure to present you with our Annual Report for 20��.

A year ago I was privileged to be elected as President of the American Chamber. That has been a great honor to me and at the same time I accepted the position fully aware of the responsibili-ties that the leadership of AmCham requires from me. At the same time in January and June last year we elected six new members and that is may be the biggest renewal of the Board that happens in one calendar year. The process was very competitive one which is an indication of the increased popularity and attractiveness of the Chamber as well as the willingness of the membership to serve and present new ideas for the common good.

This report is aimed to reflect upon our activities in 20�� but I would like to use it as an opportunity to talk more about the future plans and hear your thoughts and ideas for the development of the Chamber.

Let me focus on some of the main areas that the Board thinks are critical for AmCham:

Bilateral U.S.-Bulgaria trade and investment relations

This is one of the cornerstones in the AmCham mission. In 20�� we have accomplished the second AmCham/Ambassadors road show. The trip that covered Chicago, Huston, Phoenix and San Francisco aimed to present Bulgaria to the U.S. business community as a sta-ble EU member and the opportunities for U.S. companies to expand their trade and investments in the country. Seminars, roundtables, press events and one-on-one meetings helped U.S. firms better understand and act on market opportunities in Bulgaria. The road show was followed by a conference in Sofia to commemorate the 20th anniversary of the first U.S.-Bulgaria bilateral agreement on promotion and protection of investments i.e. the so-called OPIC agreement. We were honored to have Prime Minister Boyko Borissob, Deputy Prime Minister Simeon Djankov and Minister of Environment and Water Nona Karadjova speaking at the event.

Our plans for this year are to do the road show in the end of May and have President Rossen Plevneliev joining us in part of the mission.

Report of the Board of Directors

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Report of the Board of Directors

Having the head of state with us will undoubtedly bring a lot of atten-tion and give a great chance to increase awareness of the opportuni-ties for trade and business in Bulgaria. There is no secret that President Plevneliev is a long standing and committed friend of AmCham. Our ambitions are to make the maximum out of this commitment and put that into the service of the common goal – promotion of the U.S. – Bulgaria trade and investment relations. For example our plans include the organization of business forums with the President in September in New York and Boston at the time he will be attending the opening session of U.N. We have to use every single chance to make Bulgaria more and more visible for the American businesses.

These plans of AmCham may be accomplished only with the critical involvement of the U.S. Embassy and the U.S. Commercial Service and we are happy that our partnership is becoming stronger and stronger with every year. In this line of thoughts we are working with the U.S. Department of Commerce for bringing a trade mission from U.S. this fall. The U.S. Commercial Service on the one hand works with us in developing the regional partnerships with the USCS missions and AmChams in the neighboring countries, and on the other hand AmCham provides assistance in the International Buyers Program.

Lobbying, Advocacy and Committees’ Work

If you look at the scorecard you will see that the AmCham involve-ment in lobbying and advocacy for a better business environment covers a wide range of areas. In many of the sectors we have performed common actions with other chambers as for example in tax and financial issues. With regard to the legal framework for foreign investments we have presented to both Deputy Prime Minister Simeon Djankov and Minister of Ecinomy Traycho Traykov a package of stimuli for attracting foreign capital. I would like to use this occasion to acknowledge the leading role of Atanas Garov as Vice President of the Chamber to start and move forward that ini-tiative. We are continuing the dialog with the government and we have been recently invited to attend a round table focused on the measures needed to boost investments and capital in the country.

Let me also take advantage to praise the active role of two commit-tees in particular. The Tax Committee and the HR Committee are great examples that we have true leaders in every single company and that it is not only the Board members to drive initiatives but every member can have a decisive role in the life of the Chamber. The co-chairs of these committees have made them vibrant and efficient and we witness a record number of participants in their events and dynamic discussions on various topics.

Encouraging Innovation, Education, Entrepreneurship

I would like to address a very important issue that we have put as a priority in our Board agenda.

There is no doubt that innovation is a key factor of any modern economy and a key driver of high living standards. There is also no

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Report of the Board of Directors

question that the high class education provides top specialists that economy needs. At the same time many of the innovative ideas come actually because of the individual initiatives of the talented young people with entrepreneurship spirit.

In 20�� the Chamber and many of its members have supported a number of initiatives aimed at assisting small businesses and start ups in their first steps of bringing the innovations from the stage of the ideas to the practical implementation.

We observe a great potential in this area and AmCham has already started some steps for a more structured approach in assisting these processes. We have identified the need of closer cooperation between U.S. and Bulgarian universities and we will help the institu-tions making these partnerships happen. We will also allocate funds and provide expertise to boost start ups and help entrepreneurs converting innovative ideas into working business models.

Last year we visited five universities in US in search of appropri-ate ways for transfer of expertise and establishing joint training programs with Bulgarian universities. We also explored how the technology and innovation centers work in U.S. and we believe our knowledge can be of help to the Bulgarian government in creating such tech parks in the country. The success in this endeavor will position better the country within broader regional and intercon-tinental knowledge network. And we believe that will bring many benefits to the Bulgarian economy and to our companies as well.

Let me conclude by extending thanks to all the Board members and Committee Chairs who have done outstanding work by mobilizing members and bringing new initiatives to the organization. It is also worth saying that the enthusiastic and very capable AmCham team, led by our Executive Director Valentin Georgiev, contributed much to the success of the Chamber.

Great part of the credit for the AmCham success in 20�� should go to the U.S. Embassy and the U.S. Commercial Service for the tireless assistance they have extended to us. Our sincere thanks go to Ambassador Warlick who has been an avid supporter and friend of the Chamber.

And of course our big gratitude is directed to all members for the dedication and commitment to make the Chamber a vibrant and highly professional organization.

I wish you a lot of success and a very prosperous 20�2!

Sincerely,

Peter Lithgow, President

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Organizational structure

AmeRICAN ChAmbeR OF COmmeRCe IN bUlgARIA

bOARd OF dIReCTORS

President ................................................... Mr. Peter Lithgow AES Corporation

Vice President ............................................. Mr. Atanas Garov Colliers International Bulgaria

Vice President Mr. Daniel Berg European Bank

for Reconstruction and Development

Treasurer ............................................. Mr. George Gueorgiev Adecco Bulgaria

Members ....................................................... Mr. David Butts CMS Cameron McKenna

Ms. Krassimira Chemishanska Amgen Bulgaria

Mr. Borislav Dimitrov Cisco Systems Bulgaria

Ms. Petya Dimitrova Eurobank EFG Bulgaria

Ms. Mihaela Kalaydjieva VIVACOM

Mr. Alex Nestor Chelopech Mining

Mr. Solomon Passy Atlantic Club of Bulgaria

Mr. Roman Vasilev Johnson Controls Electronics Bulgaria

Ex-Officio Member ....................................... Ms. Barbara Lapini Senior Commercial Officer, U.S. Embassy

AmChAm TeAm Executive Director ................................ Mr. Valentin Georgiev valgeorg@amcham.bg

Business Development & Event Manager .............................. Ms. Nadejda Vakareeva nadia@amcham.bg

PR and Publications Manager ..................... Ms. Irina Bacheva irina@amcham.bg

Office Manager .................................... Ms. Milena Milenkova milena@amcham.bg

Chief Accountant .................................... Ms. Bilyana Petrova bilyana@amcham.bg

Event and Committee Assistant .................... Ms. Iva Zhivkova izhivkova@amcham.bg

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Report of the Board of Directors

AmChAm KeY peRFORmANCe INdICATORS 2011

KPI 2011 Plan/Actual

2012 Plan

Description

MEMBERSHIP 308 / 306 306 Period 01-12/2011

EVENTS

Conferences and Seminars

� / � � New Perspectives in U.S. – Bulgaria Trade & Economic Relations Conference – 07.0�.20��

Business Luncheons & General Assemblies

� / 7 � Business Breakfast with the U.S. Consul General – 2�.0�.20��

General Assembly – 08.02.20��

Business Breakfast with BCAF – �7.0�.20��

Business Breakfast with EBRD – 22.0�.20��

Business Breakfast with U.S. Embassy, Robert Vernon – �7.0�.20��

General Assembly – ��.0�.20��

Business Luncheon with Rossen Plevneliev – 08.09.20��

Social / Sports Events

8 / 9 8 AmCham Ski Tournament – 2�.0�.20��

AmCham-BCAF Volunteer Day – 28.0�.20��

Tennis Tournament – 0�-0�.0�.20��

Airshow Thunderbirds – 2�.0�.20��

Independence Day Celebration – 02.07.20��

AmCham-BCAF Volunteer Day – ��.�0.20��

Halloween Party – ��.�0.20��

Thanksgiving Community Dinner – 22.��.20��

X-mas Party – 07.�2.20��

Networking Receptions

� / 8 � Meet the New Members Party – 07.0�.20��

Travel in the U.S. Evening – ��.0�.20��

Meet the New Members – 28.0�.20��

BAH – Steelcase – 02.0�.20��

Networking Reception with Chigaco Business Council – �.0�.20��

Farewell Reception for the U.S. Commercial Attache – ��.0�.20��

Meet the New Members – 28.09.20��

AmCham/ U.S. Embassy BBQ – 0�.�0.20��

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Report of the Board of Directors

KPI 2011 Plan/Actual

2012 Plan

Description

EVENTS

International Cooperation

� / 7 � AmChams in Europe meetings – Brussels, Dublin, Bucarest

U.S. Ambassadors Business Roadshow – ��-2� May, 20��

AmCham Summer Training – 2�-2� August, 20��

U.S. Universities Visit – ��-2� October, 20��

U.S. Trade Missions with the US Commercial Service – National Hardware Show

Local Cooperation

0 / 2 2 Branding Bulgaria Conference with Capital and Ministry of Economy – 0�.0�.20��

Public speech by Karel de Gught with the Antlantic Club – �2.07.20��

Projects � / 2 2 Volunteer Day and CSR cooperation with BCAF

Empower award for young entrepreneurs

PUBLICATIONS

AmCham Magazine

�0 issues, �2 pages

Yearbook 20�� �00 copies

Annual Report 20�0 ��0 copies

COMMITTEES

� / 2 � Outsoursing & Offshoring Working Group

� / 8 � Human Resources Committee

� / � � RES & Energy Efficiency Committee

� / 2 � Corporate Social Responsibility Committee

0 / � � Taxation Committee

LOBBYING

Policy issues Attracting Foreign Investments and Investment incentives for Jobs creation, Research & Development, Innovation

Education and exchange of programs with US universitites, Entrepreneurship

Taxation reform

Advocacy Whistle Blowing: Gasstroymontaj

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MEMBERSHIP 2011

AmChAm

membeRShIp 2011

AmChAm membeRShIp pOlICY

The Board of Directors of the Chamber proceeds to strengthen the AmCham membership policy stressing on the US/international origin or active engagement in business with the US. The good corporate reputation and adherence to responsible business con-duct principles have remained one of the most important criteria for membership acceptance. All members should be committed to the aims and principles of the Chamber.

At the same time the financial crises lead to constrains in company budgets for marketing purposes which resulted to a row of mem-bers that did not prolong their membership in 20��.

membeRShIp develOpmeNTThe AmCham Bulgaria membership numbered �0� as of December ��, 20��. �� new members joined the Chamber, and at the same time the same number of companies left due to closing of offices and tightening of companies budgets or were expelled due to late payments of the membership fees.

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MEMBERSHIP 2011

Membership Structure by Field of Business, as of December ��, 20��

Membership Structure by Membership Type, as of December ��, 20��

The sectors with biggest shares among the membership are ICT with 8.8%, Consultancy and Legal services with 7.2% followed by the Real Estate with �.2 % and Manufacturing and Travel and Tourism with �.9% each.

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MEMBERSHIP 2011

New membeRS

�� new member companies joined the Chamber in 20��.

Company Name Industry Membertype

January

Progress CAD R&D Centre Ltd.Information and Communication Technologies Local company

February

BulPros Consulting JSC Outsourcing, IT Services Local company

Sitel Bulgaria EOOD Outsourcing, IT Services Multinational company

Sportfive GMBH Branch Bulgaria Marketing and Advertising Multinational company

March

BLU Offices and Hilton Garden Inn Travel and Tourism Multinational company

Deutsche Bank AG Finance and Banking Multinational company

Eltrak Bulgaria Ltd. Industrial Equipment and Trade Multinational company

Kamor Auto Ltd. Automobile Multinational company

Mr. Kirko Kirkov Pharmaceutical and Chemical Individual

Ms. Margarita Radeva, CPA Audit and Accounting Individual

April

MLC International Human Resources Local company

Mr. Stefan Ivanov Finance and Banking Individual

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MEMBERSHIP 2011

May

Danailov, Mihaleva, Nedelchev & Co. Consultancy and Legal Services Local company

Drujba Glassworks SA Manufacturing Multinational company

E.ON Bulgaria EAD Energy Multinational company

Shell Bulgaria EAD Energy Multinational company

August

Baker Tilly Klitou and Partners OOD Audit and Accounting Multinational company

Contitrans M Ltd. Travel and Tourism Local company

Megatron EAD Industrial Equipment and Trade Multinational company

Sb Accounting and Consulting Audit and Accounting Local company

Sofia Bio Healthcare Multinational company

September

Arexim Engineering Manufacturing Local company

Dedeman Princess Sofia Hotel Travel and Tourism Multinational company

Mondi Stambolijski EAD Manufacturing Multinational company

Sopharma AD Pharmaceutical and Chemical Local company

Terra Group Ltd. Construction and Engineering Local company

November

Atos IT Solutiions and Services EOODInformation and Communication Technologies Multinational company

December

Amarant Bulgaria Ltd. Insurance Local company

Congress Engineering OpltdInformation and Communication Technologies Local company

Elevat Ltd. Legal House Consultancy and Legal Services Local company

Fairplay International Real Estate Local company

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MEMBERSHIP 2011

AmChAm membeR COmpANIeSAS OF JANUARY 31, 2012

�M (East) AGAA KRES EOODAbbott Products EOODACO Building Elements Ltd.ACSIOR Ltd.Adecco Bulgaria ltd.Advance International Transport (Balkan) EADAECOM Bulgaria BranchAES CorporationAFA OODAIMS Human CapitalAir France Trade RepresentativeAlexander Hughes BulgariaALEXANDROV GROUP CORPORATIONAlfred C. Toepfer International Bulgaria EOODALICO Bulgaria ZhZD EAD, a MetLife Inc. CompanyAll Channels CommunicationAlliance One Tobacco BulgariaAllied Pickfords BulgariaAlpha Bank Bulgarian BranchAlter Ego CompanyAmarant Bulgaria Ltd.America for Bulgaria FoundationAmerican College of SofiaAmerican English AcademyAmerican Research Center in SofiaAmerican University in Bulgaria (AUBG)Amgen Bulgaria EOODAnglo-American School of SofiaAON BulgariaAPOLO Ltd.Arco Capital Management LLCArexim EngineeringAshtrom International Ltd.Astra Zeneca Bulgaria EOODAT Engineering 2000 Ltd.Atlantic Club Bulgaria / NATO InfoCenterAtos IT Solutiions and Services EOODAVON Cosmetics BulgariaAxway Bulgaria EOODBAE Systems International Ltd.Baker Tilly Klitou and Partners OODBalkan Star Automotive EOODBallistic Cell Ltd.Bayer Bulgaria EOODBC SerdonBCD Travel Bulgaria

Berlitz Schools of LanguagesBG RadioBICA International Ltd.BLD Asset ManagementBMG Ltd.BMW Vertiebs GmbH – Branch BulgariaBorislav Boyanov & Co.Boyden Ltd.Braykov’s Legal OfficeBritish American Tobacco BulgariaBrown Forman Beverages Worldwide Sofia Branch LLCbTV Media GroupBulgarian American Enterprise FundBulgarian Charities Aid Foundation (BCAF)Bulgarian Development BankBulgarian Property Developments EOODBulgarian VIP Travel Ltd.BulPros Consulting JSCBulwork Bulgaria Ltd.Business Park Sofia EOODCallPoint New Europe ADCarlsberg Bulgaria ADCefin Bulgaria EOOD (IVECO dealer)Center for the Study of DemocracyChartis Europe S.A. Bulgaria BranchChelopech Mining EADCheque Dejeuner Bulgaria Ltd.Cisco Systems BulgariaCitibank N.A. – Sofia BranchCity University of SeattleCivitasCleves EOODCMS Cameron McKenna LLP – Bulgaria BranchCoca-Cola HBC Bulgaria ADCoface Bulgaria Credit Management Services EOODCOLLIERS International BulgariaCongress Engineering OpltdConstruction Management GroupConsulTeam Recruitment and Selection Ltd.Contitrans M Ltd.ContourGlobal Maritsa East � ADCook CommunicationsCorstjens Worlwide Movers GroupCurtis / Balkan Ltd.Dalkia Bulgaria EADDanailov, Mihaleva, Nedelchev & Co.Dedeman Princess Sofia Hotel

Delchev & Partners Law FirmDeloitte Bulgaria EOODDeutsche Bank AGDevin ADDHL Express Bulgaria Ltd.Diamed Ltd.Dimitrov, Petrov & Co.Djingov, Gouginski, Kyutchukov, & VelichkovDobrev, Kinkin & Lyutskanov Law FirmDr. I.S. Greenberg Medical Center, Ellen Ruth Greenberg, Ph.D.Drujba Glassworks SADuPont Bulgaria EOODE.ON Bulgaria EADEcoPack Bulgaria ADEdenred BulgariaEKO BulgariaEkotoi – Service Ltd.Ekzotika EOODElectron Progress EADElevat Ltd. Legal HouseEli Lilly and CompanyEltrak Bulgaria Ltd.EMC Corporation BulgariaEmerson Process Management AGEmmis InternationalEmpire Development Group ADEmporiki Bank Bulgaria EADEmpower United FoundationEnemona SAEnergoService ADEngineeringservice Sofia Ltd.ERATO HOLDING PlcErnst & Young Bulgaria EOODEtap AdressEurobank EFG Bulgaria (under the brandname of Postbank)Eurohold BulgariaEurOmax Resources Ltd.European Bank for Reconstruction and Development (EBRD)European Trade Center OODExperian Bulgaria EADFairplay InternationalFama Consulting OODFlying Cargo Bulgaria Ltd. – Licensee of FedExForce Delta Ltd.Forton International JSCoG�S Secure Solutions JSC

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MEMBERSHIP 2011

Gasstroymontaj JscGeneral Electric InternationalGIFTAGlaxoSmithKlineGrand Hotel SofiaGrenville BulgariaHewlett-Packard Bulgaria Ltd.HILD Asset Bulgaria Jsc.Hilton SofiaHoneywell EOODHotel Yastrebets Wellness & SPAIBM BulgariaIBS Bulgaria Ltd.Ideal Standard – Vidima ADIndustrial Holding BulgariaING Bank N.V. Sofia BranchInterdeanInternational University CollegeIntertek – MoodyInvestbank Plc.Investor BG ADIP Consulting Ltd.Iris Trade Consult Ltd.ISI Emerging Markets (Internet Securities, Inc.)ITT ExelisJapan Tobacco International BulgariaJobTiger Ltd.Johnson & Johnson Doo.Johnson Controls Electronics BulgariaJunior Achievement BulgariaKaliakra ADKamenitza ADKamor Auto Ltd.Katilin Popov Enforcement OfficersKempinski Hotel Grand Arena BanskoKPMG BulgariaKraft Foods Bulgaria ADLANDMARK Property ManagementLesaffre Bulgaria Ltd.Lexim Sofia Ltd.Lindner Immobilien Management EOODLirex BG Ltd.M & M Air Cargo Service Bulgaria Ltd.M� Communications Group, Inc. A Hill & Knowlton AssociateMaria Vranovska, MD, MBAMars Incorporated Bulgaria EOODMarsh EOODMartinez-Echevarria/ MEPF Law OfficesMB CommunicationsMBL | Part of the CB Richard Ellis NetworkMegatron EADMellon Bulgaria EADMerck Sharp & Dohme BulgariaMicrosoft BulgariaMiltech Ltd.MLC International

Mobiltel EADMonbat Plc.Mondi Stambolijski EADMoten SportMoto-Pfohe Ltd.Motorola Bulgaria EADMovex RelocationsMr. Kirko KirkovMr. Marin J. DimitrovMr. Stefan IvanovMs. Margarita Radeva, CPAMs. Nadezhda StoyanovaMusala Soft Ltd.National DISTRIBUTORSNATO Defense College Anciens’ AssociationNemetschek BulgariaNeochimiki Bulgaria S.A.Neterra CommunicationsNew Europe Corporate AdvisoryNEXTDOOR Ltd.Nova Broadcasting Group ADOn Bulgaria Ltd.OPlus EOODOracle East Central Europe Limited – Branch BulgariaOrbit Ltd.Orkikem Ltd.OSG Records ManagementPANDA – IP Ltd.Pedersen & PartnersPenev LLPPenkov, Markov & PartnersPfizer Luxembourg SARL, Representation Office BulgariaPioneer Semena Bulgaria EOODPMB EOODPPD Bulgaria EOODPratt & WhitneyPremier Tours Ltd.PricewaterhouseCoopersProgress CAD R&D Centre Ltd.PSG Payroll Services Ltd.Radisson Blu Grand HotelRegus Bulgaria Ltd.Renault Nissan Bulgaria SRLRising Force Co., Ltd.S&T BulgariaSanofi – Aventis Bulgaria EOODSavantelbul BulgariaSb Accounting and ConsultingSchenker EOODSchneider Electric BulgariaSECTRONShell Bulgaria EADSheraton Sofia Hotel Balkan

Sherita M Ltd.

Siemens EOOD

SIENIT Holding

Sitel Bulgaria EOOD

Smarts Ltd.

Sodexo Pass Bulgaria EOOD

Sofia Bio

Sofstroy AD

Sogelife Bulgaria IJSC

Sopharma AD

Sportfive GMBH Branch Bulgaria

Stanton Chase International Bulgaria

Steelcase International

Stefan Dimitrov, Norman Realestate Co. Ltd.

Stroy-Consult EOOD

Sunfoods Bulgaria Ltd. – Development Licensee of McDonald’s in Bulgaria

Sutherland Global Services Bulgaria EOOD

TechnoLogica EAD

TeleLink EAD

Terra Group Ltd.

The Cedar Foundation

The City Media Group Bulgaria

The Coca-Cola Company Bulgaria

Tishman Management Company EOOD

Titan Zlatna Panega Cement

TMF

Totema Engineering

TR Baxter AG

Trinity Corporate Services EOOD

UniCredit Bulbank

Unimasters Logistics Plc

Unique Estates

Unisys Bulgaria Branch

United Bulgarian Bank

United Health Insurance

Universal Music Bulgaria EOOD

Vaptsarov Holding AD

Videolux Holding / Technopolis

VISA Europe

VIVACOM

VSK Kentavar – IZ Dinamika EOOD

VUZF University Higher School of Insurance and Finance

Welcome to Bulgaria

Westinghouse Energy Systems Bulgaria Branch

Wolf Theiss

World Courier Bulgaria Ltd.

World Transport Overseas Bulgaria Ltd.

WorleyParsons Nuclear Services JSC

Wrigley Bulgaria EOOD

Xerox Bulgaria Ltd.

Zlatina Ruseva-Savova, LL.M., MBA

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AmChAm eveNTS OveRvIew 2011

JANUARY

AmChAm bUSINeSS bReAKFAST wITh eRIC m. AlexANdeR, CONSUl geNeRAl U.S. embASSY IN bUlgARIA

January 26, Grand Hotel Sofia

U.S. consul general Eric Alexander provided some important remarks on the U.S. consular services within the US embassy in Bulgaria at AmCham business breakfast. In his presentation Mr. Alexander paid special attention to the US visa waiver program for Bulgaria.

FebRUARY

AmChAm geNeRAl ASSemblY meeTINg

February 8, Hilton Sofia Hotel

Thirteen candidates ran for the six vacant seats at the AmCham Board of Directors during AmCham General Assembly meeting. Three new members of the Board were elected: Daniel Berg, direc-tor Bulgaria, European Bank for Reconstruction and Development (EBRD), Petya Dimitrova, executive director and member of the Board of Directors, Eurobank EFG Bulgaria, and Solomon Passy, founder and president of the Atlantic Club of Bulgaria. Certificates of honor for their contribution to the business community and dedi-cated service to AmCham Bulgaria were given to the outgoing presi-dent Anthony Hassiotis, Eurobank EFG Bulgaria, Thomas Higgins, Balkan Accession Fund, and Zachary Hampson, Grenville Bulgaria. On February �0, 20��, the AmCham Board of Directors elected Peter Lithgow, Executive Director, AES Corporation, Chamber’s new president and Atanas Garov, Managing Director Bulgaria, Colliers International, first vice president.

EVENTS 2011

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mARCh

meeT The New membeRS March 7, Radisson Blu Grand Hotel

Five new companies presented their profiles during the AmCham Meet New Members party. Four of them operate in the IT sector, namely Bulpros, Nemetschek Bulgaria, Progress CAD R&D Centre and Sitel Bulgaria, whereas Gifta specializes in farming and grain trading, research, development and implementation of renewable energy projects.

AmChAm bUSINeSS bReAKFAST ON CSRMarch 17, Sheraton Sofia Hotel Balkan

AmCham Bulgaria and Bulgarian Charities Aid Foundation (BCAF) hosted a business breakfast, titled “The Role of CSR in Building the Sustainable and Profitable Company.” The guest speaker was Michael Brophy, chair of the Board of Trustees, Capital Community Foundation, London.

AmChAm bUSINeSS bReAKFAST ON ebRd’S TRANSITION RepORT

March 22, Sheraton Sofia Hotel Balkan

The European Bank for Reconstruction and Development (EBRD) presented its “Transition Report 20�0: Recovery and Reform” at a business breakfast organized by AmCham Bulgaria. The report was presented by Erik Berglof, chief economist and special adviser to the president of EBRD. The event was attended by AmCham mem-bers, representatives of the diplomatic corps and the media.

AmChAm SKI TOURNAmeNT

March 26, Borovets Resort

The Seventh AmCham Ski Tournament gathered in Borovets around �� skiers and will be remembered for its renowned participants: Traycho Traykov, minister of economy and tourism and H.E. Karol Mistrik, ambassador of the Slovak Republic, competed alongside of AmCham members and media representatives. The sports event was sponsored by Kamor Auto, BMW Dealer, McDonald’s Bulgaria, Microsoft Bulgaria, Mobiltel, Jacobs �-in-�, Milka, and KOM min-eral water. The awards were kindly provided by SLS Rossignol & Quicksilver, Radisson Blu Grand Hotel, and Hilton Sofia. Hotel Yastrebets Wellness & SPA provided the perfect venue for the eve-ning cocktail and gala dinner.

EVENTS 2011

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TRAvel IN The U.S. eveNINg

March 31, National Palace of Culture

AmCham Bulgaria and the US Embassy organized a joint promo-tional exhibition, presenting attractive travel destinations in the US. Representatives of leading tourist agencies distributed informa-tion about top destinations in the US and offered attractive travel packages. US Embassy officials provided updates on tourist and visa related issues. Visitors were treated to traditional American food & beverages and authentic live music. Main sponsors of the event were: Austrian Airlines, Air France, BCD Travel, Bulgarian VIP Travel, Holiday Inn Sofia, Hornit Travel, Premier Tours and Vakancia Travel Agency.

ApRIl

meeT The New membeRS April 28, Grand Hotel Sofia

Five new companies were introduced to the AmCham business community at a regular Meet New Members Party: BLU Offices and Hilton Garden Inn, Law Office Danailov, Mihaleva, Nedelchev & Co., Eltrak Bulgaria, Kempinski Hotel Grand Arena Bansko and Shell Bulgaria.

EVENTS 2011

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mAY

U.S. ROAd ShOw: TRAde ANd INveSTmeNT IN bUlgARIA

May 15 – 20, 2011

The American Chamber of Commerce in Bulgaria organized togeth-er with the U.S. Embassy in Bulgaria the second Bulgarian-US Ambassadors’ Road Show to several cities in the US. The leading figures in this endeavor were the U.S. Ambassador to Bulgaria James Warlick and the Bulgarian Ambassador to the U.S. Elena Poptodorova.

The tour was meant to promote trade and investments in Bulgaria and included visits to four cities – Chicago, IL; Houston, TX; Phoenix, AZ, and San Francisco, CA. The delegation was also com-plemented by the AmCham Vice President Atanas Garov, Colliers International, and Board Member Alex Nestor, Dundee Precious Metals. Other delegates were Scott Pozil, former US Commercial Attaché, Nikolay Valov, Economic and Commercial Officer, Bulgarian Embassy – Washington and Borislav Stefanov, Executive Director of InvestBulgaria Agency.

AmChAm bUSINeSS bReAKFAST wITh RObeRT l. veRNON

May 17, Radisson Blu Grand Hotel

Robert L. Vernon, President of Pointman Leadership Institute with �8 years of experience in the Police Dept. of Los Angeles, USA, elaborated on how government corruption costs business and on the ways to prevent corruption. The event was co-organized by the American Chamber of Commerce in Bulgaria and the US Embassy in Sofia and incited the interest of many government officials and businesses.

SpRINg vOlUNTeeR dAYS

May 28

The National Museum of History in Boyana hosted the official open-ing of the AmCham-BCAF Volunteer Day on May 28, 20��, which marked its fourth anniversary. The initiative gathered over 900 employees of AmCham and non-AmCham member companies in Bulgaria who worked on 2� projects in Sofia, Stara Zagora, Varna, Shumen, Blagoevgrad, Gabrovo and Sliven. Volunteer activities included cleaning, repair and renovation works of parks, painting of garden facilities and aid in homes for children without parents and elderly people, centers for children with disabilities and centers for environmental protection.

EVENTS 2011

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JUNe

bUSINeSS AFTeR hOURS wITh STeelCASe INTeRNATIONAl

June 2, Best Western Expo Hotel

Steelcase International, the world-leading company in the office furniture industry, celebrated the opening of its first showroom in Sofia, Bulgaria at AmCham business-after-hours cocktail. At the cocktail Philippe Pereira, managing director for Central Europe, presented company’s profile and latest products, before taking the guests to the showroom where they could experience firsthand the design and all the modern conveniences of the company’s office furniture.

AmChAm - devIN ChARITY TeNNIS TOURNAmeNT

June 4-5, Gloria Palace Club in Gorna Banya

The AmCham-Devin charity tennis tournament brought together twelve teams of the AmCham member companies and �0 keen players in this year’s game. For the second time participating com-panies provided donations for the AmCham Charity Fund. Bulgarian VIP Travel and Gloria Palace players became finalists and after a close-run contest Gloria Palace team won over Bulgarian VIP Travel who placed second.

Supporters of the match were: Devin, SLS Rossignol, Gloria Palace Club, Pain d’Or and Dunlop Sport.

CONFeReNCe “New peRSpeCTIveS IN The TRAde ANd eCONOmIC RelATIONS beTweeN The UNITed STATeS ANd bUlgARIA”June 7, Hilton Sofia Hotel

The forum was organized by AmCham and US Commercial Service in Bulgaria and featured the May AmCham/Ambassadors’ road show in the United States, aiming at promoting investment in Bulgaria. Among the speakers were: US Ambassador to Bulgaria James Warlick, who talked about the positive outcome of the trip to the US and the lessons learned, Prime Minister Boyko Borissov, Minister of Finance Simeon Dyankov, Minister of Environment Nona Karadjova, representatives of the business and the diplomatic corps and other government officials. The event received high public attention and substantial media coverage.

The forum was kindly supported by AES Corporation, Amgen, Colliers International, Dundee Precious Metals, Ernst&Young, Johnson Controls, McDonald’s Bulgaria, and Microsoft.

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EVENTS 2011

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AmChAm geNeRAl ASSemblY meeTINg

June ��, Grand Hotel Sofia

Three new members joined AmCham board of directors after the elections held during the meeting: Krassimira Chemishanska, General Manager, Amgen Bulgaria, Mihaela Kalaydjieva, Secretary General, Vivacom, and Roman Vasilev, Director, Johnson Controls Electronics Bulgaria.

AmCham honored three outgoing members of the board: Dana Leff Niedzielska PPD Bulgaria, Stefan Ivanov, Citibank N.A. – Sofia Branch and Tanya Kosseva-Boshova, European Trade Center. Peter Lithgow, AmCham president, gave the three Bod members certifi-cates of honor and oil canvases of Kiril Bozhkilov.

The event culminated in a touching farewell party AmCham orga-nized for the US Commercial Attaché Scott Pozil, a close friend and strong supporter of AmCham whose commitment and dedicated work contributed to the continuing success of our organization and the flourishing AmCham-US Commercial Service partnership.

“ThUNdeRbIRdS” AIR ShOw

June 25, Graf Ignatievo Air Base

On the occasion of the �00th anniversary of the Bulgarian Air Force and to celebrate their �8th show season the world’s famous American air demonstration team “Thunderbirds” threw a remark-able show up in the sky of Graf Ignatievo and amazed the specta-tors by performing most intricate and breathtaking maneuvers. The event was organized by the Bulgarian Air Force and the US Embassy in Bulgaria, and supported by AmCham Bulgaria. Among the VIP guests at the airs how were U.S. Ambassador James Warlick, the minister of defense Anyu Angelov, chief of defense gen. Simeon Simeonov, chief of air force gen. Konstantin Popov, deputy chief of the air force Rumen Radev, senior military officers, military attaches and members of parliament.

The air show was kindly supported by: Lockheed Martin, AON, Electron Progress EAD, Eltrak Bulgaria, M Car-official dealer of BMW, Jack Daniel’s, Orbit Ltd, UniCredit Bulbank, Coca-Cola, Kamenitza, McDonald’s, Nestle, and �-Express Party.

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EVENTS 2011

20

JUlY

INdepeNdeNCe dAY CelebRATION

July 2, American College of Sofia

Close to �000 guests gathered at the American College of Sofia to celebrate the birthday of the United States of America. The party started with the performance of the US and Bulgarian anthems by Georgi Robev Choir, followed by the ceremonial presentation of National Colors by the US Marine Corp. Celebrations contin-ued through the night with the performances of Mihail Yossifov quintet and the famous Dirty Purchase band. The children were entertained at a fabulous kid’s corner and all guests were treated to delicious foods and beverages kindly provided by: McDonald’s Bulgaria, McCafe, AES Galabovo BBQ, Pain D’or, Nestle Ice Cream, Radisson Blu Grand hotel, Jack Daniel’s, Coca Cola, Kamenitza & Stella Artois.

The party also featured Uti Bachvarov’s famous cooking contest, charity raffles, spectacular fireworks and an impressive birthday cake representing the US national flag, brightly lit with Bengal light.

AmCham cordially thanks the main sponsors of the event: AES Galabovo, America for Bulgaria Foundation, BMW Vertriebs Branch Bulgaria, Dundee Precious Metals, Jack Daniel’s Tennessee Whiskey, Vivacom, along with the supporting sponsors: Adecco Bulgaria, Amgen Bulgaria, Bulgarian VIP Travel, Cisco Systems Bulgaria, CMS Cameron McKenna, Electron Progress, Eurobank EFG Bulgaria (Postbank), PricewaterhouseCoopers and UniCredit Bulbank, as well as all the companies who kindly contributed to the charity raffles by providing a lot of attractive prizes.

EVENTS 2011

2�

SepTembeR

AmChAm bUSINeSS lUNCheON wITh mR. ROSeN plevNelIev, mINISTeR OF RegIONAl develOpmeNT ANd pUblIC wORKS

September 8, Sheraton Sofia Hotel Balkan

Mr. Rosen Plevneliev, Minister of Regional Development and Public Works, was a guest speaker at AmCham Business Luncheon where he spoke before the AmCham community about the priorities of the economic policy of the Bulgarian Government, with main focus on the improvement of the business environment in Bulgaria, infra-structure, absorption of EU funds, development of e-government and reduction of the corruption.

The discussion provoked the interest of many representatives of the business, diplomats and the media and received very positive feedback by the AmCham community.

meeT New membeRS

September 28, Radisson Blu Grand Hotel

AmCham Bulgaria hosted the September cocktail “Meet new Members”. Where three new members presented their profiles and activities before more than 70 guests: Baker Tilly Klitou, an auditing, accounting and business advisory company, Contitrans M, cruise experts and consultants, and Megatron EAD, specializing in import and distribution of agricultural machinery products.

OCTObeR

US embASSY ANd AmChAm bbQ pARTY

October 6, Marine House, US Embassy

AmCham Bulgaria and the US Embassy in Bulgaria invited more than ��0 guests to a traditional barbecue cocktail set up in the Marine House Area. At the event the AmCham community met the newly arrived key officers and members of the US Mission in Bulgaria, including Barbara Lapini, the new senior commercial officer to Bulgaria who joined the U.S. Embassy in Sofia in the late summer of 20��.

EVENTS 2011

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AmChAm-TITAN ChARITY gOlF TOURNAmeNT

October 8, Pirin Golf Course, Razlog

For a second consecutive year Bulgarian and foreign golfers gathered at Pirin Golf & Country Club in Razlog to compete and raise money for the AmCham charity fund at the annual AmCham-Titan Charity Golf Tournament. The event attracted �0 competitors among which were the U.S. Ambassador to Bulgaria James Warlick and the Slovak Ambassador Carol Mistrik, who ranked in the top �0.

AmChAm-bCAF vOlUNTeeR dAY

October 15

The eighth edition of the joint Bulgarian Charities Aid Foundation in Bulgaria – AmCham initiative volunteer days gathered over �,700 volunteers who worked on over �0 different projects throughout the country. For the first time this year local coordinators – NGOs from Sofia and five regional centers also joined the project.

Volunteer activities included working at the shelter for homeless dogs at “Animal Resque Sofia” in Bogrov; renewing of the nursery of “Pirogov” hospital; finishing and cleaning of parks, urban and central rural areas, greenhouses, water courses, eco-trails and natu-ral sites, repairs in schools and in social centers.

AmChAm hAlOweeN COSTUme pARTY

October 31, Swinging Hall

Numerous AmCham members, partners and friends joined the first AmCham Halloween party which included a contest for best cos-tume, spooky food, live music and entertainment. Special guests at the event were the US ambassador to Bulgaria James Warlick, Deputy Minister of Education Petya Evtimova, Deputy Minister of Health Dessislava Dimitrova, and Borislav Stefanov, InvestBulgaria Agency.

The party turned out a great success and showed potential to become a fine tradition within AmCham with a lot of enthusiastic and supportive fans.

EVENTS 2011

2�

NOvembeR

AmChAm ThANKSgIvINg COmmUNITY dINNeR

November 22, Central Military Club

At its Thanksgiving community dinner AmCham raised �0 000 BGN for the projects: “Ready for Success” (scholarships for pupils and students without parents) and for “Protected Homes” project for young people leaving orphanage houses and deprived of parental care due to age of majority.

Special guests at the event were President-elect Rosen Plevneliev and the U.S. Ambassador to Bulgaria James Warlick who greeted the guests.

The dinner was kindly supported by: America for Bulgaria Foundation, Cisco Systems Bulgaria, ContourGlobal, Dundee Precious Metals, Johnson Controls Electronics Bulgaria and many other AmCham members companies who generously provided numerous items for the open bids, silent auctions and the raffles.

deCembeR

AmChAm x-mAS pARTY

December 7, Sheraton Sofia Hotel Balkan

The 20�� AmCham Christmas Party gathered more than 800 guests – member companies, partners, diplomats, government officials, media, friends and family who met to network, have fun and celebrate Christmas. A quartet of the New Symphony Orchestra greeted the audience with performances of classical music. The rock legends B.T.R and the famous musician and front man of

“Shturcite” rock band, Kiril Marichkov, blew the audience away with Bulgarians’ favorite rock classics and.

Many government officials, diplomats and guests from partnering organizations and business chambers attended the party.

The party was kindly supported by Black Sea Gold Pomorie, Coca-Cola, Johnie Walker, and Vivacom.

EVENTS 2011

2�

AmCham Committees

AmChAm COmmITTeeS & wORKINg gROUpS

TAx COmmITTee

Co-Chairs: Mr. Milen Raikov, Ernst & Young Bulgaria Mr. Paul Tobin, PricewaterhouseCoopers

Mission: to promote a modern tax framework based on best international practices, facili-tate the correct and transparent implementation of the tax legislative system, and enhance stability and predictability in the tax system to support the positive devel-opment and growth of the Bulgarian economy.

Goals: • identify and promote changes in the Bulgarian tax legislation and adminis-trtaion with the aim of making it more predictable and competitive;

• assist membership in their efforts to bring about positive change in the tax framework;

• assist the membership in achieving a direct dialogue with decision makers;

• provide members with the opportunity to keep up-to-date with tax changes and key developments by organizing seminars, roundtables and other forums for exchange of best practices;

• build a sustainable community of financial professionals.

Activities in 2011 The Tax Committee was launched in May 20�� and organized five regular working meetings on Tax Law and practices, Transfer Pricing, VAT Regulation, Bulgarian tax

restrictions for food vouchers.

Representatives of the AmCham Tax Committee participated and had a significant contribution to the foreign bilateral business chambers initiative to establish a joint position regarding the main priorities in the area of tax reform in Bulgaria, with a view to find a dialogue with the Bulgarian government and to start the process of bringing about such reform for the benefit of the business com-munity in Bulgaria. The joint position focuses on � topics:

�. Implementation of a procedure allowing the taxpayers to obtain binding opinions/rulings from the revenue authorities on particu-lar tax issues;

2. Enforcement of a voluntary disclosure mechanism;

�. Extension of the time limit for filing an appeal against a tax assessment;

�. Mitigation of the penalty regime for violations on VAT matters;

�. Introduction of a minimum statutory period as of the date of promulgating amendments to tax laws until the date when they become effective.

2�

AmCham Committees

hUmAN ReSOURCeS COmmITTee

Co-Chairs: Ms. Dobromira Manasieva, VIVACOM Ms. Zlatina Kushkieva, Adecco Bulgaria ltd .

Mission: provides a platform for HR professionals and consultants from multi-national and local companies to share, discuss and learn about the latest trends in HR sector as well as to collectively influence local policy and decision makers for effective solutions in labor legislation and education which will improve the Bulgarian labor market.

Activities in 2011

February 9, 2011 Remuneration Surveys – 20�0 edition

April 21, 2011 Regular Committee meeting for setting 20�� Priorities

June 8, 2011 EU Funds for Human Resources Development

June 16, 2011 Share HR Practices – Talent Management and Leadership Development

September 20, 2011 The Business Walks Into The Universities

November 15, 2011 Coaching: The Most Innovative Tool for Business in Bulgaria

December 1, 2011 Employment Relations: Legal Issues

December 15, 2011 Share HR Practices – Mentoring and Coaching Programs

2�

AmCham Committees

CORpORATe SOCIAl ReSpONSIbIlITY COmmITTee

Co-Chairs: Ms. Elitza Barakova, BCAF Mr. Roman Vasilev, Johnson Controls Electronics Bulgaria

Mission: encourages and facilitates responsible business practices among AmCham members and to support them to improve the quality and effectiveness of their CSR pro-grams and actions.

Activities in 2011:

March 17, 2011 Business Breakfast with guest speaker Mr. Michael Brophy, Chair of Board of Trustees, Capital Community Foundation, London on topic “The Role of CSR in Building the Sustainable and Profitable Company”

AmCham-BCAF Volunteering Days 2011 Responsible Company – Responsible Employees!

May 28th, 2011 October 15th, 2011

more than �000 volunteers more than �700 volunteers (incl. non-members also) (incl. non-members also) �� companies more than �0 companies 2� locations �0 locations

For fourth year in a row, AmCham and Bulgarian Charities Aid Foundation (BCAF) organized members and friends to contribute time and talent to our community through meaningful volunteer engagements. This year the Volunteer Days initiative coincided with the European Year of Volunteering and we tried to raise aware-ness about the project and to inspire more, even non-members, participants. We also applied for funding from Sofia Municipality, and, we were awarded a grant from “Europe 20��” programme, that enabled us to recruit, train and support regional volunteer coordinators in � cities, other than Sofia. The coordinators were responsible for identifying local organisations in need of volunteers and generating ideas for creative and effective solutions to bring local NGOs and local businesses together. As a result of our efforts we attracted a record number of volunteers in the two stages of the Volunteer Days 20��.

27

AmCham Committees

Part of the information campaign about the Volunteer Days project was the special May issue of AmCham Magazine 20�� dedicated to successful volunteering projects of our member companies.

BG Food Bank initiative AmCham CSR Committee raised awareness about the BG Food Bank initiative and through our member com-panie provided support and expertise to the working group of the project.

Charity Fundraising AmCham charity & Donations fundraising initia-

tives were going through the whole year including: July �th Raffles, AmCh am -De v i n Charity Tennis T o u r n a m e n t , AmCham-T I TAN Zlatna Panega Charity Golf Tournament and the Thanksgiving Community Dinner. Overall, thanks to our members and friends, during the charity events throughout the year the Chamber collected a total of BGN 70 000, which is a record in com-parison to the previous years.

In 20�� the AmCham Corporate Responsibility Committee put in focus again the support for orphans (children without parents or living without parents in institutions) and the fundraising will go to: Protected Homes Projects (selected on a competitive base by BCAF) and Scholarships for orphan-students in secondary schools and univer-sities (a programme of the Orphan Foundation and BCAF).

The AmCham Board of Directors approved allocation of a financial support at the amount of EUR �0 000 to the Empower Award Fund for Young Entrepreneurial Excellence 20��.

Awards An award in the category “Most Successful Partnership” during the annual ceremony

“The Biggest Corporate Donor” of the Bulgarian Donors’ Forum. The prize is awarded for the AmCham – BCAF long-term joint efforts to encourage and facili-tate responsible business practices among AmCham members and to support them to improve the quality and effectiveness of their CSR programs and actions.

A certificate of Recognition for the support for Scholarships for orphan-students inSecondary schools and universities

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

Te l . : ( 3 5 9 2 ) 97 4 2 7 4 3 Fax : ( 3 5 9 2 ) 97 4 2 7 41

Analysis:

Kremikov t zi: A New Era?

The World After Osama

IMF and World Bank Forecasts for Bulgaria's Economic Development

Events: AmCham Presents Five New Members in AprilHR Committee Pulls Focus on Educational and Labor Issues

i s s u e 1 1 9m a y 2 0 1 1

Great Hopes for the Upcoming AmCham Volunteering Day

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Our speakers

AmChAm bUlgARIA:

OUR SpeAKeRS

Scott Pozil, Former Senior Commercial Officer, U.S. Embassy

Peter Lithgow, Country Manager of AES Corporation and President of AmCham Bulgaria

Nona Karadjova, Minister of Environment and Waters

Evgeny Angelov, Deputy Minister of Economy, Energy and Tourism

Rossen Plevneliev, President of the Republic of Bulgaria

Boyko Borissov, Prime Minister of the Republic of Bulgaria

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Our speakers

Erik Berglof, Chief Economist and Special Adviser to the President, EBRD

Borislav Stefanov, Executive Director, InvestBulgaria Agency

H.E. James Warlick, U.S. Ambassador to Bulgaria

Simeon Djankov, Deputy Prime Minister and Minister of Finance

Michael Brophy, Chair of the Board of Trustees, Capital Community Foundation, London

Robert L. Vernon, President, Pointman Leadership Institute

Richard Goldstein, U.S. Immigration Attorney

Atanas Garov, Executive Director, Colliers International and Vice President of AmCham Bulgaria

Eric Alexander, Consul General, U.S. Embassy Sofia

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Our speakers

Ivaylo Penchev, General Manager, Walltopia

Gergana Kukundjieva, Legal Manager, PPD Bulgaria

Julian Mihov, Tax Senior Manager, Ernst & Young Bulgaria

Krassimira Chemishanska, General Manager, Amgen Bulgaria and AmCham Board Member

Roman Vassilev, General Manager, Johnson Controls Electronics Bulgaria and AmCham Board Member

George Gueorguiev, Country Manager, Adecco Bulgaria and AmCham Board Member

George Randelov, General Manager, Microsoft Bulgaria

Alex Nestor, Director External Affairs, Chelopech Mining and AmCham Board Member

Daniel Berg, Country Director, Bulgaria, EBRD and AmCham Board Member

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International Cooperation

INTeRNATIONAl COOpeRATION

Annual Brussels Briefing of AmChams in Europe, March 2–4, Brussels, Belgium

Senior AmCham managers from all over Europe gathered in Brussels for their annual Brussels briefing to share best practices in creat-ing a suitable climate for the American investments in Europe and define the top priorities for business in Europe for 20��. The main focus of the meeting was the transatlantic relationship and “The Transatlantic Economy 20��”, an annual survey of jobs, trade and investment between the United States and EU. The “Transatlantic Week” culminated in a conference titled “Innovation in the Transatlantic Relationship: Unlocking the Potential of a 2�st-centu-ry Economy” where hot topics like data protection, patents, piracy, IPR and RoHS were profoundly explored and analyzed.

AmChams in Europe: Annual European Best Practice Conference, May 4–6 May, 2011, Dublin, Ireland

The leadership of AmChams in Europe gathered in Dublin at an annual European Best Practice Conference. The program included dedicated best practice sessions, workshops on leadership and talent development facilitated by leading workforce management consultants Right Management; a business lunch with over 200 of the senior executives of US companies in Ireland; evening reception with the US Ambassador to Ireland and invited guests.

Business Trip to the National Hardware Show in Las Vegas, May 8–16, 2011

The U.S. Commercial Service in Bulgaria and the American Chamber of Commerce in Bulgaria organized a business trip to the National Hardware Show that took place at the Las Vegas Convention Center, Nevada. The show attracted over �8,000 buyers and retail-ers throughout the world in the field of home-related products including hand and power tools, electrical and plumbing, house-wares, paint and home décor, lawn and garden, and tailgating.

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international cooperation

U.S. Road Show: Trade and Investment in Bulgaria May 15–20, 2011

The American Chamber of Commerce in Bulgaria organized togeth-er with the U.S. Embassy in Bulgaria the second Bulgarian-US Ambassadors’ Road Show to several cities in the US. The leading figures in this endeavor were the U.S. Ambassador to Bulgaria James Warlick and the Bulgarian Ambassador to the U.S. Elena Poptodorova.

The tour was meant to promote trade and investments in Bulgaria and included visits to four cities – Chicago, IL; Houston, TX; Phoenix, AZ, and San Francisco, CA. The delegation was also com-plemented by the AmCham Vice President Atanas Garov, Colliers International, and Board Member Alex Nestor, Dundee Precious Metals. Other delegates were Scott Pozil, former US Commercial Attaché, Nikolay Valov, Economic and Commercial Officer, Bulgarian Embassy – Washington and Borislav Stefanov, Executive Director of InvestBulgaria Agency.

Best Practices Summer Training, August 3–5, Tatra Mountains, The Slovak Republic

AmChams in Central and Eastern Europe gathered for their Best Practices Summer Training in Nova Lesna, the Slovak Tatra Mountains. The program was focusing on sharing best practices, increasing the effectiveness of AmCham as an organization, improv-ing individual and collective performance, bonding and interacting. AmCham Bulgaria contributed by sharing successful stories and best practices in the area of CSR.

AmChams in Europe: Informal Best Practices Workshop, Bucharest Romania, November 16–18, 2011

Fourteen AmChams in Europe with over 20 chambers’ reps gath-ered in Bucharest to discuss in depth topics related to lobbying among state institutions, building relationships with US embassy and with membership, as well as organization of events.

The most appealing topics were: how to organize a door-knock mis-sion to Washington DC; merging physical networking with online networking platforms; social media. AmCham Bulgaria presented its corporate social responsibility practices: charity fundraising and CSR projects during 200� – 20�0 – with Volunteer project on top, the benefits for the AmCham members, the importance of social issues for the Bulgarian society.

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FINANCIAl RepORT 2011bUdgeT 2012

Financial Report 2011

COmpARATIve ANAlYSIS bUdgeT 2011-2012

Total Budget 2011

Total Actual 2011

Total Budget 2012

INCOME

Mem. Fees Current members ��8,000 �00,�00 �20,000

Mem. Fees – New members 2�,000

Events 270,000 ��9,000 �70,000

AmCham Publications �00,000 9�,�00 �00,000

Commercial Register Project

TOTAL BGN: 888,000 9�7,000 990,000

EXPENSES

Events 220,000 �00,000 ��0,000

AmCham Publications �00,000 �0�,000 �00,000

Salaries and Bonuses ���,000 28�,000 ���,000

Other administrative costs 220,000 �9�,000 220,000

TOTAL BGN: 8��,000 879,000 9��,000

SURPLUS (DEFICIT) ��,000 �8,000 2�,000

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PUBLICATIONS

AmChAm bUlgARIA pUblICATIONSIN 2011

In 20�� AmCham issued the following publications enhancing the communication flow within the membership:

“Travel in the U.S.” info guide – prepared for AmCham-U.S. Embassy fair presenting the United States as a multicultural nation, home to a wide variety of traditions, values, and nature. The guide, issued in February, featured major US regions and cities of interest for the tourists.

Investors’ Brochure “United States and Bulgaria: Building Bridges through Business” – a guide for the U.S. Embassy-AmCham roadshow to the U.S. in May 20��. The guide served as an information tool for the US businesses with regard to investment opportunities in Bulgaria.

Monthly AmCham Bulgaria Magazine

The official monthly publication of the American Chamber is a primary forum for political and economic analyses, highlighting of business opportunities and AmCham-related news. Every month 2,000 copies reach AmCham members, leading Bulgaria companies, business centers, international hotel chains, the U.S. Embassy and the other diplomatic missions as well as the AmCham international network.

AmCham Bulgaria Yearbook

The AmCham Yearbook is up-to-date and sophisticated business guide. It is a valuable reference guide for both current members and potential members with an active interest in the Bulgarian market.

AmCham Daily News

Every morning AmCham members receive a summary of the local news highlighting recent developments in the world of business, politics and international relations.

AmCham Bulgaria Website

On www.amcham.bg you can find detailed information about the American Chamber of Commerce – activities, list of members, upcoming events and announcements, reports, Chamber’s commit-tees, media coverage and archive of past events.

Annual AmCham Bulgaria Report

AmCham annual report is an assessment of the Chamber’s activities, lobbying, regional cooperation, finances and publications.

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AmChAm bUlgARIA

IN The medIA IN 2011

In 20�� the events, activities and initiatives of AmCham Bulgaria were covered and quoted over 200 times with thousands of views per page in the Bulgarian press, Internet media, TV stations and radio. AmCham gave several interviews for the Bulgarian media.

In particular wide scale media inter-est was drawn on several occasions:

• AmCham business breakfast on EBRD’s Transition Report held in March;

• “Travel in the U.S.” evening held in March;

• Spring and autumn volunteer days;

• Conference “New Perspectives in the Trade and Economic Relations between the United States and Bulgaria” held in June;

• AmCham business luncheon with Mr. Rosen Plevneliev, then-minister of Regional Development and Public Works held in September;

Media reports appeared in:

TV channels: BNT, bTV, Nova TV, BBT, Evropa TV, TV 7, TV+; Economy TV, Bulgaria on Air.

Radio&Internet media: Bulgarian National Radio, Darik Radio; Econ.bg, BGNES, BTA; Novinite.com, Mediapool; Sofia Echo, Dir.bg, Blitz, Actualno.com;

Press: Dnevnik Daily, Capital Weekly, Klasa, Pari, Banker, Sega Daily, Trud, 2� Chasa, Monitor, Novinar, Standard Daily, Telegraph, Stroitel Newsp., Gradat Media Group, b2b Magazine.

AMCHAM IN the media

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AMCHAM IN the media

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Audit Report 2010

AUdIT RepORT 2010

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Audit Report 2010

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Audit Report 2010

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Audit Report 2010

AmeRICAN ChAmbeR OF COmmeRCe IN bUlgARIA

Published by The American Chamber of Commerce in Bulgaria, ©20�2

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