Follow Up: Financial Policy and Competitiveness of the Bulgarian Economy

On April 15, the British Bulgarian Chamber of Commerce (BBCC) and the American Chamber of Commerce in Bulgaria (AmCham Bulgaria) hosted an exclusive executive-level business breakfast with special keynote speakers—Dimitar Radev, Governor of the Bulgarian National Bank, and Temenuzhka Petkova, Minister of Finance at the InterContinental Sofia. The event brought together senior executives from member companies of both Chambers to engage in a high-level discussion on Bulgaria’s financial policy and economic competitiveness. The event offered valuable insights into Bulgaria’s fiscal direction, current budgetary priorities, and the country’s progress toward Eurozone integration.

The morning began with networking and registration, followed by welcoming addresses from Ivan Mihaylov, Chief Executive Director of AmCham Bulgaria, and Desislava Miteva, Executive Director of BBCC. Both highlighted the importance of public-private dialogue in navigating the evolving economic landscape.

Minister Petkova highlighted that Bulgaria has met all criteria for Eurozone membership and anticipates positive convergence reports from the European Commission and the European Central Bank, aiming for adoption of the euro by January 1, 2026. She emphasized the extensive technical work undertaken to align with the Eurozone’s requirements and the government’s commitment to restoring fiscal stability and combating the grey economy.

Governor Radev noted that Bulgaria’s macroeconomic position remains stable despite global challenges. He pointed out that the country’s banking sector exhibits strong capital adequacy, liquidity, and profitability, with fiscal indicators such as debt-to-GDP ratios among the strongest in the EU.
The event underscored the importance of political stability, Bulgaria’s integration into the Schengen Area, the OECD, and strategic positioning within the EU and NATO. Business leaders called for the government to play a more active role in EU dialogues and to restart the U.S.-Bulgaria Strategic Dialogue.

The moderated discussion, led by Lutchezar Bogdanov from the Institute for Market Economics, provided a dynamic platform for in-depth conversation and interactive Q&A. Participants had the unique opportunity to ask questions directly to Mr. Radev and Ms. Petkova, facilitating a transparent exchange of perspectives on Bulgaria’s monetary strategy, inflation control, and financial sector stability.

We thank all our members who participated and contributed to the discussion, making this event a success.

We extend our gratitude to our sponsors for their support: Visa, Credissimo, Top Hospital Service , Hewlett Packard Enterprise operated by Selectium, and ING.

You can find pictures from the event here.

Special thanks to the Diamond sponsor:

Special thanks to the Gold sponsors:

Responding to the announcements from the Chancellor and Business and Trade Secretary to support UK exporters, William Bain, Head of Trade Policy at the British Chambers of Commerce (BCC) said: 

“The BCC called last week for enhanced credit and financial support through UK Export Finance and the British Business Bank to cushion the effects upon UK exporting firms. Traders will welcome news that the Chancellor and Business and Trade Secretary have responded positively to the actions we proposed to help thousands of UK firms who export to the Unites States. 

“Increasing the credit capacity of UK Export Finance by up to £20bn and loan facilities of up to £2million through the British Business Bank Growth Guarantee Scheme will provide much needed cashflow support now for exporting firms affected by the impact of new tariffs. We also welcome that £10bn of the greatly increased UK Export Finance lending capacity will specifically support firms experiencing financial pressures right now. 

“In our survey of more than 600 businesses last week, the clear message from firms is that negotiation not retaliation is the best way forward. Firms also told us they want government to get tariff relief in terms of our trade with the US, remove unnecessary trade barriers in our trade relationship with the EU, and to work with our partners in the Indo-Pacific region to expand opportunities for UK trade and investment. 

“A calm, clear headed approach by government to trade negotiations together with a strong package of increasing the finance available to affected firms is the way forward. That will back the resilience UK exporters are showing in these uncertain times in global trade.” 

Source: British Chambers of Commerce

🌟 Reflecting on an Unforgettable BBCC IT Retreat at Hotel Rila, Borovets 🌟

We’re still buzzing from the energy and inspiration of the recent BBCC IT Retreat at the stunning Hotel Rila in Borovets! Great talks, meaningful connections, and a perfect mountain setting made it truly special.
Thanks to everyone who joined and helped make it such a success! Guests had the chance to hear an insightful presentation on How to prepare for a strategic deal by presentation by Martin Bochev and Steliana Kostova, EY Bulgaria.

You can find pictures from the event here.

A heartfelt thank you to all the participants, who made this event a resounding success.

Shout out to Hotel Rila for their hospitality. We’re excited to carry forward the connections and ideas sparked during this retreat into our future endeavors.

Special thanks to our partner:

Planning a corporate event? Take your team to the freshness of nature and the inspiring views of the mountains! In May, the month when the forest awakens to new life, Hotel Rila, Borovets invite you to take advantage of our special offer for an unforgettable business event.

The offer is valid from 13 to 28 May and includes:
– Minimum of 50 rooms booked
– Special fixed rates per day for single and double occupancy

Our compliments to you:

– Free use of conference room – comfort and top functionality for productive meetings
– 50% discount on technical equipment rental – for flawless presentations
– Refreshing bottle of mineral water (0,330 ml) per person – for your comfort in the meeting hall

Available dates are filling up fast – contact Hotel Rila, Borovets today and create an inspiring event in the fresh air and beauty of the pine forest.

Contact Hotel Rila, Borovets for more information and preferential quotes at +35975090006

Zdravko Mladenov, Pavlina Ralcheva, Elena Lalova and Boyan Mitev talk about the success of Baringa Bulgaria, considered one of the “Best Consulting Firms In The World” by Forbes and with 19 awards from Financial Times.

Elena Lalova: Attracting the highest calibre of talent is probably our most important, business-critical objective. We are confidently aspiring to be a beacon for all Bulgarians – whether already at home or still studying and working abroad – to join an organisation that offers world-class employment and career opportunities in the heart of Sofia. But an even more important part of our strategy is to be a genuinely people-first organisation – not just in words, but in everyday actions. We are one of the few organisations in Bulgaria that holds a Great Place to Work certification. We pride ourselves in having created a work environment built on kindness, collaboration and taking care of each other at all corners of the organisation. Colleague engagement scores are one of our key performance indicators and one of the highest in our industry. Our regular colleague feedback surveys are read meticulously to ensure everyone’s voice is heard, regardless of seniority or geographical location. Most of our ideas for improvement come from within, from colleagues who feel empowered to drive continuous improvement.

Read more here.
Source: Forbes Bulgaria

Among the awarded companies were Konica Minolta Bulgaria, HR One and Postbank. We’re proud to congratulate our members for their exceptional achievement.

Elena Drecheva-Vladimirova, managing director at Konica Minolta, has been awarded “Most committed to people management organizational leader”.

HR One was awarded in the category “HR Consulting Project/Tool of the Year” – subcategory “Tool”, for its eponymous comprehensive solution that digitizes and automates key processes in HR management.

Postbank was honored in the “HR TECH Project of the Year” category – for their project on AR, VR and AI technologies in their onboarding program.

This week, Ambassador Nathaniel Copsey visited Kingly Knitwear, a socks and apparel producer, and a member of the BBCC community. The company is located near Sofia Airport, Bulgaria. Kingly is a zero-waste sock knitting facility with 100% traceability.

Rob Armour, Kingly’s founder, gave a tour to Ambassador Copsey and his team of the facilities in the factory, and explained more about their commitment to leaving a better environmental footprint.

This week, the BBCC had the pleasure of attending a special celebration at the Bulgarian Embassy in London, marking five incredible years of connecting investors, entrepreneurs, and innovators in the UK and Bulgaria.

Over the years, the London chapter has become a vibrant hub for ideas, support, and cross-border collaboration—fostering a strong community of angel investors and startups with Bulgarian roots and global ambitions.

A big thank you to everyone who has contributed to this journey so far—and here’s to many more years of growth, impact, and shared success!

Among the topics that participants in a business breakfast organised by SeeNext discussed are:

• The upsurge in energy storage and hybrid projects in Southeast Europe; the likelihood of holding hybrid PPA tenders within the next years
• The financing risks before such projects and how they can be offset;
• The need for digitalization of the grid and for the integration of the wider European power market
• How geothermal projects can be integrated in the energy mix and what are the challenges that energy-intensive industries face

Innovative low-Earth orbit satellite internet is now available through Neterra’s comprehensive network services portfolio.

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About Starlink by SpaceX 

Starlink delivers high-speed, low-latency internet to users worldwide. As the first and largest satellite constellation in low Earth orbit, Starlink supports streaming, online gaming, video calls, and more. Starlink is engineered and operated by SpaceX, a global leader in launch services. SpaceX uses its extensive experience in spacecraft and on-orbit operations to deploy the world’s most advanced broadband internet system.

About Neterra 

Neterra is an independent global provider of communication and IT asset management services, recognized as “Best Connectivity Provider in Central and Eastern Europe” by the Capacity Global Connectivity Awards (2023, 2024). Nine of the world’s top ten telecom companies and nearly 1,000 global enterprises rely on Neterra’s connectivity, data center, cybersecurity, and IT services. Neterra’s brands include Sofia Data Center (SDC), NetIX, Neterra.Cloud, NetFleet, Sofia Teleport, Thracia Teleport, and Neterra.TV.