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American Chamber of Commerce in Bulgaria is a member of:

US Chamber of Commerce


European Council of American Chambers of Commerce

AmCham Bulgaria Statutes
Ammended January 2007

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Toastmasters Club
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Welcome to AmCham Bulgaria 

Mission

• About the American Chamber of Commerce in Bulgaria

The American Chamber of Commerce in Bulgaria is a fast growing business organization uniting over 280 American, Bulgarian and international companies operating in the country. The Chamber was established in December 1994 with the purpose to strengthen economic relations between U.S. and Bulgarian commercial enterprises, and to promote US-sponsored business initiatives and investments within Bulgaria.

Events

• AmCham Forum:
U.S. Presidential Elections 2008: Sofia Perspective
October 16th (Thursday) 9:30 am - 1 pm National Palace of Culture, Hall 6

Social events

The American Chamber of Commerce in Bulgaria organizes a discussion forum “U.S. Presidential Elections 2008: Sofia Perspective”. During the forum we will present the American electoral system. Americans residing in Bulgaria will share their impressions and expectations from the nominated candidates while leading Bulgarian political scientists and journalists will present their analyses and summaries.
Translation is provided in English and in Bulgarian languages.
For more information, see 
ProgramCard, or call AmCham office at: ++359 2 974 27 43/44/45.

• Second AmCham-BCAF Community-Wide Volunteer Day
17th/18th October

Join us on October 17 /Friday/ or 18 /Saturday/, 2008
and be part of the Second AmCham-BCAF Community-Wide Volunteer Day Read more...

• AmCham Board of Directors Meeting
23rd October /Thursday/ 8:30 am AmCham Office, Business Park Sofia, bld. 2 fl. 6

Other

US Presidential Election 2008

• US Presidential Election 2008
What Europe Needs to Know
November 4th (Tuesday) USA

The presidential prize is in sight as the nation's registered voters head to the polls on the first Tuesday in November to decide who'll lead the country. November 4 is Election Day in 2008, with polls opening as early as midnight in Dixville Notch, New Hampshire, and finally closing in Hawaii and Alaska.

Campaigns reach final agreement on presidential, vice presidential debates:
October 7: Nashville, Tennessee
October 15: Hempstead, New York
Electoral Map

Follow here latest developments on US elections

New Website for Overseas Voters
We encourage you to visit the newly redesigned Federal Voting Assistance Program website at www.fvap.gov , the official U.S. government website for overseas voters.  The updated website features an automated Voter Registration and Ballot Delivery tool that will greatly improve the vote-by-mail process.
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Overseas Vote Foundation and FedEx have teamed up to provide U.S. overseas residents and military voters fast and reliable ballot return service. You will be able to return your ballot to your U.S. election office with confidence.
Express Your Vote program starts September 15, 2008.
Please visit www.overseasvotefoundation.org for service details

Announcements

• First Bulgarian Conference on Organizational Culture

Human Synergistics International, a world leader in measuring and transforming organizational cultures in thousands of organizations for over 30 years, organizes Conference on Organizational Culture:
Managing Talents and Achieving Business Results by Creating High Performing Organizational Culture
The event will take place October 28th, Sheraton Sofia Hotel Balkan.
14% off of the conference fee for AmCham Bulgaria members.

The conference will provide a many sided viewpoint on:

Who should participate?

• US Embassy Fall Fair Oct. 4

 More Information.pdf 

• Balkan Legal Forum November 5 - 7

The fifth edition of the Balkan Legal Forum will be held on November 5 - 7, 2008 at the Sheraton Hotel in Sofia, Bulgaria. The Balkan Legal Forum is an initiative of the European Forum of the IBA, established in the year 2000, for the purpose of fostering the collaboration between legal professionals from South East Europe and abroad, and strengthening the rule of law for political stability and economical and social prosperity. The official opening will be presided by the President of IBA, Mr. Fernando Pombo, the Minister of Justice of the Republic of Bulgaria, President of the Bulgarian Bar and top governmental officials. There is a 10% discount off the price for AmCham members.
More information at:
http://www.balkanlegalforum.com/

image More Informationimage Programimage Sponsorship Packages 
image Updated brochure 

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News

• Europe rescue plans may have short-lived effects
15.10.2008

Topic of the day

European governments’ joint efforts against the global economic meltdown will be unable enough to break the bearish trend on the capital markets, experts told Dnevnik daily. “The looming recession is drawing a bleak outlook for European stocks for the next months. The positive reaction to the announced measures will be short-lived and there may be new bottoms down the road,” commented Ivan Ovcharov, broker at Elana Trading. “It’s too early to speak about a lasting support for the markets simply because the ongoing processes do not depend on real events and cannot be stopped so easily,” commented Petko Valkov, executive director of BenchMark Asset Management.
• Bulgaria State Security Agency to Investigate BSP Election Campaign Financing
15.10.2008

Politics

The Chief Prosecutor's Office has assigned the State Security Agency (DANS) with the task to verify the Bulgarian Socialist Party (BSP) 2005 election campaign financing, as announced before Darik radio by Sofia City Prosecutor Nikolay Kokinov. DANS is to investigate financing coming from businesses owned by Mario Nikolov through the use of false names of individual donors. The signal for the illegal campaign financing was submitted to the Prosecutor's Office by the Chair of the opposition Citizens for European Development of Bulgaria Party (GERB), Tsvetan Tsvetanov.
• Bulgaria is delaying zero excise on bio fuels
15.10.2008

Economy

The government is delaying the zero excise tax on bio fuels, PARI wrote. The Ministry of Finance hasn't asked the approval of the European commission. This might happen in two months the earliest and the approval itself might be expected not sooner than in 18 months. In this way the distributors have no economic motivation to offer bio mixtures and the result will be the ruin of this branch in the country, the president of Association of bio fuel producers said.
• Insurance branch with 22.4% growth
15.10.2008

Business

Since the beginning of 2008, the twenty general insurance companies in Bulgaria gathered altogether BGN 953.5 million gross premium income, data of the Financial Supervision Commission (FSC) by the end of August show, cited by PARI. This is a growth of 22.4% year on year. The rate of paid claims however rises more quickly than the incomes gathered by the companies. The paid claims for that period are BGN 384.7 million which is with 30% more compared to August 2007.
• US President Reveals Details of New Plan to Buy Bank Shares
15.10.2008

International

The US Treasury Department disclosed on Tuesday a plan to bring in USD 250 B into struggling US banks in order to deal with the credit crisis that could lead to a global economy recession. According to the plan, the government is going to spend USD 250 B of the USD 700 B government rescue program passed by Congress on October 3, to buy preferred shares in qualifying financial institutions, limited to USD 25 B or 3% of risk assets for each institution. The deadline for banks to apply for participating in the planned government purchases is November 14.
Recent Events

• Regional Energy Forum in Budapest
October 7-8, 2008
More than 200 representatives from the government, business, NGO, academic and media sectors from eight countries in CEE met in Budapest  on October 7-8 for the Second Regional Energy Forum. The forum was hosted by AmChams in Bulgaria, Czech Republic, Poland, Romania, Slovak Republic, Ukraine, Hungary and AmCham EU. "This is the largest active co-operation of AmChams in Europe taking place in Budapest over these two days," said Dr. Gustav Bienerth, President of AmCham Hungary. His opening speech set the tone for the Forum, which has been organized for the second time following last year's successful debut. During his welcoming remarks, Dr. Bienerth also formulated the main message of the forum: the need for a common strategy to tackle the region’s energy issues. According to Bienerth, the "Budapest Summit" is unique, as it facilitates a multi-stakeholder dialogue between politicians, energy experts, private companies and NGOs.
AmCham Bulgaria was represented by Valentin Georgiev, executive director, and Kenneth Lefkowitz, vice-president of the chamber.

• AmCham Bulgaria Protests Gas Prices
In a letter to Bulgaria’s prime-minister Sergei Stanishev AmCham Bulgaria expressed concern for the sharp increase of the natural gas prices by 29 percent as of October 1st. The chamber joined the initiative of CEIBG and other business organizations to protest the plans of the energy regulator to raise the gas prices. According to the chamber the measure will harm the competition in the country. In the letter the chamber says that currently it represents 300 companies that are providing at least 50% of the country’s GDP. AmCham insists that the gas prices have to be debated with the businesses in order to ensure the market mechanism of setting the gas prices, rather than using administrative measures.

• Public Affairs Committee Prompts Discussion on IPR Issues
On September 17 the AmCham Public Affairs Committee had a meeting in the Radisson SAS Grand Hotel with Mr. Matthew Lamberti, intellectual property law enforcement coordinator - Eastern Europe at the US Department of Justice. Over 20 representatives of law and consultancy offices of AmCham Bulgaria, and professional associations participated in the discussion that focused on the IPR enforcement in Bulgaria and the region, providing examples, challenges, trends in this area. Matthew Lamberti is a prosecutor, and has been working in Sofia for 10 months already, covering the region of Eastern Europe. He is working closely with the Bulgaria’s Prosecutor’s office regarding copyrights products and trade marks protection. Mr. Lamberti elaborated on the issues with pirated CD-s and DVD-s, and the pirated downloading using bittorrents know how that is going on a large scale throughout Eastern Europe.

• AmCham meets with Migration Directorate to Discuss Visa Related Issues
Kenneth Lefkowitz, AmCham Public Affairs Committee Chair, Valentin Georgiev, Executive Director, and Sevdalina Voynova, Government Affairs Director, met September 16th with Mr. Stefan Hristov, director Migration Directorate, Ministry of Interior. The challenges that member companies continue to face in obtaining visas for their employees and contractors were discussed during the meeting. In addition, the meeting focused on the difficulties that arisen with the enforcement of the amended Rules and Procedures for Issuing Visas in July this year. The AmCham representatives also shared examples of challenges, experienced by member companies. Mr. Hristov promised to examine the single instances. He invited AmCham to present ideas and proposal for optimizing the process of business travel visa applications. AmCham Bulgaria and the Director of Migration Directorate discussed further ways of cooperation in the framework of the National Strategy on Migration and Integration.

Yearbook

• AmCham Yearbook
 The AmCham Yearbook is the most up-to-date and sophisticated business guide to Bulgaria. It is published annually by the chamber with the support of the Commercial Service of the US Embassy – Sofia, and the substantial help from more than 200 company members. The Yearbook is a valuable resource both for current members and new companies considering membership and investigating the Bulgarian market. It is distributed free of charge to all AmCham members.

 


 

 US-Bulgaria Joint Training Facilities

U.S. Army Awards $61 Million Project for Construction at Joint Training Facility in Novo Selo
Bulgarian firms win 11 of 13 contracts in project

September 18, 2008
The U.S. Army has awarded a two-year, $61.15 million project for construction at the Joint Training Facility in Novo Selo, Bulgaria.  Eleven of the thirteen companies winning contracts for the project are Bulgarian.  The other two companies are American and Italian. Ambassador Nancy McEldowney said “This is a great moment for the U.S.-Bulgaria partnership.  This project will facilitate our cooperation, both bilaterally and as NATO allies.  It will enhance our joint training and make us more effective in facing the challenges that confront our common security.  This is the largest construction project the U.S. military has ever organized in Bulgaria and it will inject $61 million dollars into the Sliven district.  This money will provide economic opportunities for many Bulgarian companies and jobs for even more Bulgarians.”
Open file to read more.

Archive Announcements
Pre Solicitation Notice of the US Army Corps of Engineers

The US Army Corps of Engineers, Europe District is requesting expressions of interest in proposing on a Firm Fixed Price (FFP) solicitation for design and construction services of a Forward Operating Site (FOS) in Bulgaria.
The Government will post this synopsis, the solicitation and all subsequent amendments for this requirement to the Government-wide Point of Entry (GPE) available at the Federal Business Opportunities (FEDBIZOPPS) website, _http://www.fedbizopps.gov_, and it is the Offeror’s sole responsibility to obtain a copy of the solicitation and any subsequent amendments from this website. Vendors are encouraged to visit this website and become familiar with its content and functionality prior to the solicitation issue date. Information will not be available through Federal Technical Data Solutions (FedTeDS) so prospective Offeror’s must provide the information requested above in order to receive instructions necessary to access the location of additional information not posted to the GPE. The contract specialist(s) will be the sole point of contact(s) for this solicitation. The Government reserves the right to cancel this solicitation at no cost any time. Attached please find subject Pre-Solicitation Notice. Interested firms must register at _http://www.fedbizopps.gov/_ as an interested vendor for this solicitation.
image Pre-SolicitationNoticeBulgaria 

Federal Business Opportunities Announcements
U.S. Federal Business Opportunities (www.fbo.gov) announced tenders of presolicitation for Novo Selo military exercises. Please read more in the attached links to the FedBizOpps announcements.
image Solicitation presolicitation 
Temporary base camp will be designed to support 1000 soldiers from 15 July, 2008 through 31 October, 2008 located at Novo Selo Training Area (NSTA), Bulgaria, in support of Joint Task Force East. The Ordering Period for these Services is from 20 May 2008 through 19 May 2009.

 Treaty on Avoidance of Double Taxation

On June 4 the US President George Bush wrote to the Senate of the United States with regard to the Ratification of the TADT:
I transmit herewith, for Senate advice and consent to ratification, the Convention Between the Government of the United States of America and the Government of the Republic of Bulgaria for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income, with accompanying Protocol, signed at Washington on February 23, 2007 (the "Proposed Treaty"), as well as the Protocol Amending the Convention Between the Government of the United States of America and the Government of the Republic of Bulgaria for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income, signed at Sofia on February 26, 2008 (the "Proposed Protocol of Amendment").

Open file to read further.

Bulgaria, US Sign Agrement on Avoiding Double Taxation (Updated info, Febr. 28, 2008)
A Treaty for Avoidance of Double Taxation (TADT) between the United States and Bulgaria was signed in Washington D.C. on February 23, 2007, by the Minister of Finance of Bulgaria Plamen Oresharski and the Deputy Secretary of the U.S. Department of Treasury, Robert M. Kimmitt. The two sides signed February 26th,  2008, an additional protocol that had to accompany the treaty. The Treaty and the protocol are now back to the U.S. State Department for transmittal to the Senate. The Treaty and protocol must undergo formal ratification procedures in both the U.S. Senate and the Parliament of Bulgaria. Once ratified, they will take effect on January 1 of the following year.
The TADT applies to direct taxes only and excludes indirect levies, such as value-added and excise taxes, as well as all social contributions.  TADT applies to all sources of income that residents of either state have received "at source" in the other state. The TADT will reduce the tax burden for residents of both states, which will stimulate cross-border trade and investment. 
For more information about the tax benefits offered by the Treaty for Avoidance of Double Taxation and for answers to frequently asked questions, please see More_Information. To view the text of the U.S.-Bulgaria treaty, please see Text_of_the_Treaty.
If you have additional questions about the treaty, please send them to: sofia@usembassy.bg.
image The Agreement 

 Science&Technology

US and Bulgaria Sign Science and Technology Cooperation Agreement
On January 4th 2008, the United States and the Republic of Bulgaria signed a bilateral Science and Technology Cooperation Agreement during a ceremony at the U.S. Department of State. Secretary of State Condoleezza Rice signed on behalf of the United States, and Foreign Minister Ivailo Kalfin signed on behalf of Bulgaria.
image Text of the Treaty in English
image Text of the Treaty in Bulgarian 

 Member to Member Discounts

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Business Guide on EU Post-Accession Instruments

The publication "Business Guide on EU Post-Accession Instruments - Commercial Opportunities for US companies" provides some practical information on how to deal with EU financing programs. Here you can order a copy of the book. Order Form 

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 News from Members

Alexander Philipov is the new Commercial Director for Golden Pages
Alexander Philipov is the new Commercial Director for Golden Pages. He has a degree in Economics from the University of Sofia. Alexander has more than 15 years’ management and commercial experience, including running his own business. He has a strong background in sales and sales management within the IT and telephony sectors, and is again returning to sales after his latest position as Financial Director in telecom and internet operator ITD Network.  His role at Golden Pages involves leading a high quality team of 50 sales consultants, engaged in providing advertising solutions to all types of businesses, and meeting representatives of more than 15,000 companies each year.
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Bulgarian Manager Appointed Head of Cisco Systems in Six East European States
The director of Cisco Systems Bulgaria Peter Ivanov was appointed Wednesday to manage the company business in five other eastern European states - Estonia, Latvia, Lithuania, Slovakia, and Slovenia. Ivanov has been the director of Cisco Systems Bulgaria for nine years. He will now be in charge of the sales and business development of the company in these five eastern European states plus Bulgaria. Ivanov has a graduate degree in computer science from the National Military Academy, and a graduate degree in business administration from Open University, UK.

Radisson SAS Grand Hotel
 image Festive Season at the Radisson SAS Grand Hotel 

October Happenings at Hilton Sofia
Open file to read more.

 

 

American Chamber of Commerce in Bulgaria Tel: (359 2) 9742 743, 9742 744, 9742 745;Fax: (359 2) 9742 741 e-mail:amcham@amcham.bg
Business Park Sofia, bld. 2, fl. 6, 1715 Sofia

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