Follow Up: Global Trends and Their Impact on Europe and Bulgaria Seminar

On November 26th, the seminar “Global Trends & Their Impact on Europe and Bulgaria” was held, organized in collaboration between the British Bulgarian Business Association (BBBA), the Canadian Chamber of Commerce in Bulgaria (CanCham), the Italian Chamber of Commerce in Bulgaria, and Confindustria Bulgaria.

Maya Alexova, Director of the International Center at UniCredit Bulbank, opened the event, followed by remarks from key association leaders: Miroslava Kostadinova, Chair of BBBA; Alex Nestor, President of CanCham; Alessandro Geretto, President of the Italian Chamber of Commerce in Bulgaria; and Roberto Santorelli, President of Confindustria Bulgaria.

The seminar featured two segments. Renowned economist Evgeni Kanev delivered an insightful presentation on global trends and their implications for Europe and Bulgaria. This was followed by a dynamic roundtable discussion, with contributions from various economic sectors, including John Alam from BBBA member company Urus Advisory. The panel explored the challenges and opportunities of conducting business amidst shifting global dynamics.

The British Chambers of Commerce (BCC) has called for an Industrial Strategy that brings benefits to businesses and people in all parts of the UK.  

In a written submission to the Government’s consultation, the BCC has urged ministers to integrate each nation and region’s strengths into the plan, alongside a focus on sectors.  

The Government says the Industrial Strategy will be published in Spring 2025, alongside the multi-year Spending Review.  

The BCC urges ministers to identify ‘growth driving priority sectors’ and says the strategy should clearly identify how the UK’s competitive advantage can be leveraged. It says, ‘the industrial strategy should drive investment, support the workforce and encompass the net-zero transition’.  

The submission says that for the strategy to succeed, foundation issues such as a competitive tax environment, skilled workforce and an enabling regulatory environment must be in place. It points out that achieving this will require collaboration across government departments and involvement from both the public and private sectors. 

Jonny Haseldine, Policy Manager at the British Chambers of Commerce: 

“The Industrial Strategy is a much-needed opportunity to boost economic growth and investment.  

“With millions of businesses now facing increased costs following last month’s Budget – even more is now riding on the Government’s strategy. Firms in every corner of the UK need this plan to deliver at pace for their needs and their communities.  

“The strategy needs to identify priority sectors which will drive growth – building on the past but crucially looking forward.  

“But the industrial strategy will struggle unless other key obstacles to business investment are tackled. It must not be designed and implemented in isolation from other policy measures and strategies.” 

Source: British Chambers of Commerce

Innovotech is organising a digital competence training, suitable for employed persons. The acquisition of digital competence is completely free of charge, financed by the National Recovery and Resilience Plan (NRRP). Each participant who successfully completes the training course will receive a digital competence certificate.

For more information, please read the attached documents below.

SiteGround is in the process of acquiring the well-known “Strawberry House”. This, undoubtedly emblematic building for Sofia, is currently in an extremely poor condition, which even makes it dangerous. Therefore, SiteGround’s initial efforts will be focused on securing the building in order to prevent further destruction and risks to others.

To this end, SiteGround will work with a team of experienced specialists, engineers and restoration experts. After completing the necessary assessments and analyses, SiteGround will prepare a detailed restoration plan, the aim of which is to preserve the unique appearance and historical identity of the “Strawberry House”. Our intention is for the building to function as a representative headquarters for all of the company’s activities, including the activities of the “For Example” Foundation, founded by SiteGround’s management. SiteGround is committed to preserving Sofia’s cultural heritage and will inform the public about the progress of the project when they have a ready solution.

Wind energy is back on Bulgaria’s horizon. After a long pause, efforts to expand wind energy are gaining momentum so SeeNext’s new analysis delves into the evolving role of wind power within a wider renewable energy context landscape.

Download the fourth annual edition of the Renewable Energy Industry in Bulgaria analysis by SeeNext and Gugushev & Partners Law Office.

Key highlights include:

• Regulatory developments simplifying wind project approvals
• Discussing some of the myths and challenges hampering wind’s take-off in Bulgaria
• A financial snapshot of Bulgaria’s renewable energy ecosystem, including revenue trends, employment impact and key players

Get the full report here.

This holiday season, Argent Group is pleased to offer members of the British-Bulgarian Business Association a 20% discount on our specialized services: Media Advertising Campaigns CO2 Footprint Evaluation and AB Brand Tracking.

• Advertising Campaigns Carbon Footprint Evaluation 

Argent is proud to be the first agency in Bulgaria to offer access to a sophisticated calculation model designed to quantify the CO2 emissions generated by advertising campaigns. Argent can assess the environmental impact of your campaigns and, based on the results, propose impactful climate projects for you to support. By contributing to these initiatives, you can become a certified Partner in Climate Action. Ideal for companies committed to sustainability, this unique service helps strengthen your brand’s reputation among eco-conscious consumers.

• AB Brand Tracking

With this one-of-a-kind tool on the Bulgarian market, Argent not only monitors brand awareness and perception but also leverages insights, combined with the measurement of media indicators, to develop, optimize, and refine tailored communication strategies that drive improved consumer loyalty. (You can find more information here and refer to the attached PDF file for additional details).

Limited Time Offer: Book any of these services by December 31, 2024, to enjoy a 20% discount. Invest in your brand’s future while promoting sustainability.

About Argent: The agency is specialized in the field of media advertising and communications. Established in 1995, they’ve proudly maintained their status as an independent media agency and have been industry pioneers for 29 years now. Argent is fully aware that their business success comes with responsibilities, not least among them improving the environment and promoting long-term sustainability within the media industry.

Please, feel free to contact Svetoslav Dabov, Head of TV and Business Development for details and to schedule a meeting to learn more!
svetoslav@argent-bg.com
+ 359 2 942 60 60

Last week, we had the honour to host Dace Dimza-Jones and Cristina Dragu in Sofia, for an event in collaboration with our long time friends and partners Digital Health and Innovation Cluster Bulgaria (DHIC).

The session brought together member companies of BBBA and DIHC and industry experts to explore the pathways for entering the UK market. With a focus on fostering international growth, our guest speakers, Dace Dimza-Jones and Cristina Dragu shared their expertise on:

• Business development strategies in medical technologies, digital healthcare, and biotechnology
• R&D opportunities and conducting clinical trials in the UK
• Practical advice for a smooth market entry

We are looking forward to our joint activities starting early next year. Stay tuned!

On 14 November BBBA Executive Director Desislava Miteva, and BBBA UK Ambassadors Dennitsa Dimitrova and Martyn Smith took part in the Rotary Club of London Gala Reception at the Embassy of the Republic of Bulgaria, organised by the London Chapter of The Rotary Club and supported by the BBBA.

Proceeds from the evening supported the Association for Stroke and Aphasia Bulgaria, an organization making a meaningful difference for families affected by stroke.

We would like to express our gratitude for the warm hospitality to H.E. Tihomir Stoytchev, Bulgarian Ambassador to London and his wife, as well as Krassimir Kiriakov, Head of the Commercial and Economic Affairs Office.

The BCC’s representatives at COP29 have been in the thick of the action as the event in Baku, Azerbaijan, has got fully underway. 

This included a BCC event, today, where former UK energy minister, Chris Skidmore, announced a global expansion of regional centres to support companies developing sustainable and low emission technologies. 

The move, to help businesses in this sector to scale up and meet growing demand, was welcomed by East Lancashire CEO, Professor Miranda Barker, who chaired the session. 

She said: “Developing and delivering fully commercialised low carbon technologies is a global endeavour – and as such the funding must work without borders and constraints.  

“[East Lancashire Chamber], through our low carbon innovation agency RedCAT, are delighted to work in partnership with Desmos, and to bring our fast-commercialising, low carbon innovators to an international base of funding expertise.” 

In his speech to the BCC event, which featured a cohort of worldwide attendees to COP29, Chris Skidmore, said 

“[We] wanted to help support and grow companies that share our vision that there is no future economy without a net zero economy, and no future business without sustainable businesses that put our future first and commit to being part of the solution. Not only by reducing emissions, but also in supporting emerging economies and their rapidly developing needs.” 

Chambers who are at COP29 for the BCC include East Lancashire, Netherlands, Abu Dhabi and Azerbaijan. They have also been meeting with UK ministers and officials from departments, including the Foreign and Commonwealth Office, the Department for Energy Security and Net Zero and the UK Ambassador to Azerbaijan. 

The final day of the BCC’s involvement will include discussions on the role of science, technology and innovation in reaching Net Zero. 

Source: British Chambers of Commerce

Complete the PwC’s survey and assess the maturity of your finance function.

There are less than 10 days left to participate in PwC CFO Compass Survey 2024 and assess the maturity of your finance function.

For a second year in a row, the survey will take a deeper look at how CFOs in the SEE region respond to the challenges of digitalisation and the new business reality.

The “CFO Compass” offers CFOs the opportunity to transform their organisation’s business strategy and:

•  Benchmark against their peers in the region and in their industry
•  Uncover actionable insights and find optimal solutions
•  Drive discussions and influence change at the top

Is your finance function delivering its full potential? Complete the survey to find out: https://survey.pwc.com/jfe/form/SV_elGANDiPZXnxmu2

Learn more here: https://www.pwc.bg/en/cfo-compass-survey-2024.html

Please, fill out the survey by 30 November. The results will be exclusively presented in the beginning of 2025.