At the invitation of Ms. Rosa Cusmano, chief secretary of the Italian Chamber of Commerce in Bulgaria, Sofia Investment Agency participated in the 27th edition of the Convention of the Italian Chambers of Commerce Abroad. The conference was held on November 10-13 in Verona, Italy.

Mr. Vladimir Danailov, CEO of Sofia Investment Agency, was invited to present the activities of the Agency, the business and investment climate in Sofia, as well as to take part in international meetings and events with representatives of the international and Italian business on November 13. The meetings took place with managers of companies who stated their interest in participating in B2B meetings with Invest Sofia and receiving up-to-date information on the conditions and opportunities for business and investment in specific sectors in Sofia.

The international business forum is organized once a year by the Association of Italian Chambers Abroad and the Italian Chamber of Commerce in Verona. The event brings together representatives of chambers of commerce, Italian trade associations, universities, Italian and international institutions, small and medium-sized enterprises from all sectors, national agencies and representatives of international businesses from all over the world.

This year the conference was attended by more than 540 delegates from 61 countries. The participants discussed the potential and opportunities for international trade cooperation with Italy.

Mr. Marco Montecchi, President of the Italian Chamber of Commerce in Bulgaria, and Ms.  Rosa Cusmano, Secretary General, and Mr. Giorgio Perillo, SEO Specialist, Social Media & Branding Manager, also took part in the presentation and participation of Sofia and Bulgaria at the event.

#Thanks @InvestSofia for joining us and let boosting Italian Bulgarian relationships! @PresMontecchi https://t.co/1eb6QqWTUD

— CCIE Bulgaria (@CCIE_Bulgaria) November 15, 2018

Italy is among Bulgaria’s main trade and economic partners and the second largest export destination for our country, following Germany. In 2017, Bulgaria’s exports to Italy amounted to EUR 2.212 billion and imports totaled EUR 2006 billion.  Italy ranks third after Germany and Russia in terms of total imports in Bulgaria. The country is also the fourth largest investor in Bulgaria with companies in sectors such as construction, finance, textile production, energy, trade, etc. In 2017, the largest number of foreign tourists in Sofia came from Italy, some 70 000.

Vladimir Danailov, CEO of Sofia Investment Agency, presented the business environment in Sofia and current sectoral data during the Second Lebanon-Bulgarian Business Forum, held on November 12 at Intercontinental Hotel in Sofia. The Forum was organized by the Bulgarian Chamber of Commerce and Industry (BCCI), the Lebanon-Bulgarian Business Council, the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon, and with the support of the Lebanese Embassy in Sofia.

At the event, Vladimir Danailov presented the investment opportunities in the capital to representatives of large enterprises, state and private sector, the chairmen of the Chambers of Commerce and Industry of Beirut, Tripoli, Saida, executives of the Lebanese Investment Agency, the Association of Lebanese Industrialists, etc.

The official guests of the event included H. E. Toufic Jaber, Ambassador of Lebanon in the Republic of Bulgaria, as well as Mr. Ahmed Aladin, chairman of the Lebanon-Bulgarian Business Council and organizer of the Second Lebanon-Bulgarian Business Forum.

Over 80 business representatives from both countries attended the business meetings. The Bulgarian companies had the opportunity to meet representatives of the Lebanese business in the sectors of construction and construction machinery, real estate, food industry and supermarkets, financial and investment brokerage, consultancy services, pharmaceuticals, cosmetics, IT and software development, textile, equipment, etc.

According to data of the BCCI, the trade between the two countries increased by 56% in 2017. More than 300 companies with Lebanese capital are registered in the Chamber and a total of 95 Lebanese companies have registered trade representation offices in Bulgaria.

We are sharing an invitation to take The Balkan, Black Sea & Baltic ICT Network (3B ICT Cluster Network) barometer survey. The Network has launched an initiative dedicated to mapping the innovation potential and overview of the state of Industry in the wider region. Through the common effort of 16 cluster organizations from 9 countries, the network aims to significantly increase the global visibility of the region as a technology-oriented destination and establish a common research and business framework for IT sector development.

3B ICT Cluster Network is thus inviting companies active in the IT industry to fill the online barometer survey on the innovation potential of the region.

The common conclusions and results will be used by the organizations during presentations on national and international events, fairs and business missions.   

If you are a digital SME from the targeted regions, please contribute by filling the survey on the following link by December 5th.

—

About 3B ICT Cluster Network

Established in 2015, 3B ICT Cluster Network now consists of 16 business organisations and a network of more than 1 000 member companies from 9 countries. The main goal of the Network is to create a framework to intensify collaboration of ICT Clusters and ICT organizations in the Balkan and the Black Sea region aiming to meet common challenges affecting SMEs growth, innovation and business environment.

The Balkan and Black Sea ICT Clusters’ network is recognized by the European Commission, (DG Growth), as a reliable partner in the region supporting digital transformation using cross-cluster, cross-industry and cross-regional collaboration.

Java2Days and CodeMonsters – the largest professional events focused on software development not only in Bulgaria but in Eastern Europe, announced a complimentary #Explorer Pass for technology professionals and enthusiasts. The conferences will take place in parallel from 27th to 29th of November in the National Palace of Culture – right in the center of Sofia – the innovative capital of Bulgaria. Over the 3 conference days, more than 60 renowned speakers from all over the world will present the latest technologies and will share their experience with the audience of software developers, IT professionals, university students and enthusiasts.

The #Explorer Pass is a unique opportunity to feel the atmosphere of the event that is consistently named one of the best in the region. Keynotes and thought leaders will present the future of software development – from the new AI based platforms to all the challenges connected with cybersecurity, blockchain technologies and IoT. All the attendees will have the opportunity to participate in different discussion panels focused on topics that include: the leading tools and platforms for software development; how to write secure code; are blockchain based solutions really unhackable; algorithms for autonomous vehicles; smart technologies; what’s behind chatbots;

In addition to the keynote sessions and discussions, the #Explorer Pass holders will also get access to hundreds of software developers and will become a part of the global community at the “Community Zone”. In the “Exhibition Hall” the event offers many surprise appearances, participation in video game competitions, ping pong matches and charity initiatives.

The technology entrepreneurs with #Explorer Pass will have the chance to take part in several business discussions with investors, lawyers and influencers from Silicon Valley. Those who are looking for the tips and trick on how to improve their career development will meet the Top HRs from the leading tech companies.

Registrations are now open on the websites of each event – Java2Days, CodeMonsters and AI & Smart Tech. From the drop-down menus choose the option Explorer to get your complimentary pass.

In the evening of November 28, as a part of Global Tech Summit, in the Main Hall will take place the official awarding ceremony of the GTS Technology Awards.

The GTS Technology Awards are dedicated to all tech companies, software developers and IT professionals who are developing revolutionary solutions, establishing and refining best practices, contributing success to the IT industry

At the invitation of Georgiy Poltavchenko, governor of St. Petersburg, to Mrs. Yordanka Fandakova, mayor of Sofia, the Bulgarian capital will take part in the VI St. Petersburg International Congress “St. Petersburg and the Slavic World”, to be held on November 28-30, 2018 in St. Petersburg.

Sofia will be represented by a team of Sofia Investment Agency with a presentation during the plenary sessions of the Congress program, and the city will have its own information stand as part of the “Global and Regional Partners of St. Petersburg” exhibition under the three-day forum.

The event will focus on the introduction of innovations, in particular, digital transformation, and their successful implementation in urban life. The Congress is organized by the Government of St. Petersburg and is part f the XI St. Petersburg International Innovation Forum “Transition to innovative digital economy”, the largest congress and exhibition event in Northwest Russia dedicated to innovations. The Forum welcomes more than 10 000 experts annually. It is a place for professional dialogue between the Russian and international community and aims to support innovation and cooperation between institutions, business and science.

At the invitation of Emídio Sousa, Mayor of Santa Maria da Feira, Portugal, Sofia Investment Agency presented the investment profile of Sofia and the business opportunities in the capital at the International Fórum Bizfeira in Portugal.

For a 4th year in a row Biz Feira Business Forum is organized by Santa Maria da Feira, a municipality near Portugal’s second biggest city Porto, a metro region of over 2M people.

The event took place on October 11 in the Europarque Congress Centre, located in the Porto Metropolitan Area. BizFeira was visited by nearly two thousand people and exhibitors from Europe, Canada, USA, Brazil and Africa, as well as many bilateral chambers of commerce, associations connected to the Portuguese diaspora, and municipalities from several European cities. Member companies of the local IT cluster AETICE formed the majority of the exhibitors.

The Invest Sofia representatives had many meetings with local IT, manufacturing and trading companies with presence or interest towards Sofia and Bulgaria. As a part of the BizFeira event, the city of Sofia participated in a workshop on the opportunities of further developing the IT sector in cooperation between Portugal, Sweden and Bulgaria with participants from the AETICE cluster and the Swedish city of Gothenburg. Our partners from Portugal, Sweden, Canada and the US were interested to learn more about the fastest growing sector of Sofia’s economy.

A very special thank you to Ms. Celine Fernandes, the International Business Director of NU Boyana FX, for participating in the workshop and sharing her insights on working with teams from Bulgaria and Portugal:

‘Working with Bulgaria is very easy. The English is excellent and there are no language and cultural barriers. The country has strong traditions in IT and creative industries.’

We explored possibilities for cooperation in the IT sector between the three countries in cost-reduction in manufacturing through digitalization, team-development and access to new markets.

The visit also included a tour of Centro Empresarial Feira, a former shoe factory that is being turned into a new business and logistics center with a built-in area of over 50 000 sq. m. by a private investor.

Santa Maria da Feira is a municipality with approximately 140 000 people and the administrative center of a highly developed industrial area in Portugal, known mainly for the production of cork and articles for the footwear industry.

At the initiative of the Association of Commercial Building Owners in Bulgaria (ACBO), Sofia Investment Agency presented the investment profile and investment opportunities in Sofia in the construction and real estate sector at the biggest real estate and investment forum in Europe – EXPO REAL 2018, held in Munich. For the first time in the history of the exhibition, Sofia had its own stand at the event. This made the capital the first city that presented Bulgaria at an event of Messe München.

The Bulgarian participation at the exhibition also included six leading companies in the construction sector in Bulgaria that presented their projects: Expo 2000 Real Estate, Galaxy Investment Group, Real Estates BG, Business Park Sofia, East Ring Logistic Park and Harmony Group. The purpose of the Bulgarian delegation at EXPO REAL was to show the experience of the real estate companies operating in the country and their most innovative achievements, as well as to present Bulgaria and Sofia as attractive business destinations for international investors.

Visit the Bulgarian booth at the largest European trade fair for property and investments EXPO REAL in Munich: hall A1, booth 442 @exporeal_team #PartnerForTradeFairs #PartnerForSuccess #messemuenchen pic.twitter.com/zpQK3N722I

— AHK Bulgarien (@AHK_Bulgarien) October 8, 2018

The Bulgarian companies presented a diverse portfolio of projects, including office buildings, commercial and logistic parks, hotels, residential buildings.

This year EXPO REAL welcomed a record high number of visitors and exhibitors:

•         44 536 visitors from 72 countries (an increase of some 7% compared to 2017), including more than 100 mayors, executive directors and municipal representatives from 24 European cities;
•         After Germany, the countries with the highest number of visitors were the UK, the Netherlands, Austria, Poland, Switzerland, France, the Czech Republic, Luxembourg, the USA and Spain;
•         2 095 international exhibitors (companies, cities, regions, etc.) from 41 countries;
•         The countries with the highest number of exhibitors, after Germany, were: Austria, the Netherlands, Switzerland, the UK (with the largest increase from 16 to 47), Poland, Romania, France, Luxembourg, Hungary and the USA;
•         This year, the exhibition welcomed two new cities for the first time  – Sofia and Liverpool.

Sofia Investment Agency provided potential investors from all over the world with current information about the real estate development in Sofia with a focus on the following segments: offices, retail space, logistic and industrial areas, and presented the overall economic and investment environment in the city.

During the official program

The team of Sofia Investment Agency published its new report titled “The Role of Small and Medium Enterprises in Sofia’s Economy “, developed by the Institute for Market Economics for Sofia Investment Agency. The paper contains data and analysis of the state and trends of small and medium-sized enterprises in Sofia, based on their development over the past five years, as well as an overview of their economic role in Bulgaria as a whole.

The study examines the distribution of the companies in Sofia, their entrepreneurial activity and the viability of the new companies. Special attention is paid to role small and medium-sized businesses play in Sofia’s development, as well as to employment, salaries and labor productivity in the different types of companies based on their size and industry.

Overall, the results of the study are quite encouraging. As it is in other European economies, SME-s make up the vast majority of the companies based in Sofia and produce the biggest portion of the output. The SME sector is also experiencing the highest levels of entrepreneurial activity. Medium-sized businesses are leading both in terms of labor productivity and levels of remuneration. Micro and small businesses have the fastest growth in a number of indicators and their importance for Sofia’s economy is likely to increase in the future.

Here are some of the main highlights of the report:

• Between 2012-2017, the total number of companies in Sofia rose by 12.3%, compared to an 8.4% growth in the country as a whole;
• The number of small businesses had the fastest growth rate – 12.7%, followed by the growth in the number of large companies – 12.1%.

• 
• Microenterprises with fewer than 9 employees constitute the majority of the firms in Sofia (according to data on enterprise demography, most likely the majority of these companies are sole traders)  In 2017, 108 000 out of the 117 000 enterprises registered in Sofia were microenterprises.
• The number of companies with over 10 employees was much smaller – 7 400 of the companies were small, 1 400 were average-sized and only 290 were big, with over 250 employees.
• In almost all sectors of the economy micro-enterprises accounted for 85-90% of the enterprises, small enterprises accounted for 5-10%, medium-sized firms for 1-2%, and big ones for less than 1%.
• A total of 38.9% of all big companies are registered in Sofia, including 74%

Sofia Investment Agency, on behalf of the city of Sofia, continues its participation in the Digital Cities Project of the European Commission and is now moving into the strategy development and consolidation phase of the Project.
The Digital Cities Challenge is an initiative of the European Commission aiming to achieve sustainable economic growth in Sofia through the integration of advanced technologies.

The aim of the Challenge is to offer high level advisory services to 15 European cities and help them build up innovation ecosystems through the deployment of advanced technologies.

Due to the high interest showcased by the 92 applications from cities all over Europe, the initiative has increased its outreach to include 21 Fellow cities that joined on their own resources and 6 Mentor cities that inspire and share best practices with the group. The result is a network of over 40 cities that participate in the initiative.

After an online questionnaire, dozens of face-to-face interviews and three workshops with key local stakeholders from the government, academia, the IT sector, utility companies and the start-up community, our team of experts has now concluded the Assessment report for the city of Sofia. Here are some of the key takeaways from the report:

Stakeholders of Sofia consider the ICT ecosystem of the city:

• – an advanced business ecosystem composed of companies having high level of technological competence and expertise to offer any product that is demanded
• – a strongly export-oriented sector that has not contributed much to the modernisation of the local economy and city life. Moreover, the further growth of the ICT ecosystem itself depends on the creation of local markets for ICT services, enabling the ICT companies to develop a local base for product experimentation and development

Based on the above findings, the Digital Transformation Strategy for the city of Sofia focuses on smart growth sustained by digital systems in both the ecosystems of ICT companies located in Sofia (supply side) and other industry and service sectors that absorb digital services (demand side).

The strategy was drafted in collaboration with local stakeholders from private and public organisations of Sofia. The stakeholders selected 16 operational objectives for the digital transformation strategy of Sofia. Operational objectives reflect the means through which the city of Sofia will achieve its ambition statements.

What is next: Identification of preliminary investment priorities

This November we

CALL FOR MENTEES

For

the Shapers of Tomorrow Mentoring Programme

The Bulgarian Chevening Association Mentorship Programme

The Bulgarian Chevening Association in cooperation with British Bulgarian Business Association is proud to announce the launch of the pioneering mentoring program Shapers of Tomorrow Mentoring programme developing under a CAPF2018 project. The aim is to support the professional and personal development of Bulgarian students in the UK or recent graduates returning to Bulgaria and encourage the development of community of engaged and skilful youth to lead the social change and shape civil society of tomorrow.

The Bulgarian Chevening Association in cooperation with the British Bulgarian Business Association is calling for mentees who would like to become a vital part of our Mentoring Program.

The Bulgarian Chevening Association is a non-for-profit association of Chevening alumni in Bulgaria, who have received an additional degree or specialization in leading UK universities.  Chevening is the UK Government international awards scheme aimed at developing global leaders and is funded by the Foreign and Commonwealth Office (FCO) and partner organizations. (chevening.org)

What is the mentoring programme about?

The Shapers of Tomorrow Mentoring Programme is a six month series (November 2018 – April 2019) designed to include at least 5 working sessions/meetings, starting from November 2018; 30’-60’ Monthly Skype/Messenger/Viber/WhatsApp/call sessions, email exchange and one or two face-to-face meetings (if possible).

All mentors are experienced individuals who are motivated to share personal achievements, including the steps of successful professional development and realization in Bulgaria, professional experience and/or experience during their study/training in the UK.  Mentors will provide an ongoing basis guidance and support to their mentees and will assist their professional development and career advancement.

Applicants will be matched with a mentor based on educational background, experience and interest. Mentees ought to be committed to engage in a professional relationship, where the mentee will be jointly responsible for the effectiveness of the mentoring including willing to listen, learn, collaborate and take initiative.

The Mentoring Programme offers mid-term and final evaluation of the mentoring partnership where the Bulgarian Chevening Association team is available to provide necessary assistance. At the end of the programme successful mentoring will be awarded with a certificate and a digital badge.

What are the benefits of participating in the Shapers of Tomorrow Mentoring Program?   Some benefits to mentees include:

• Access to a professional network;
• Individual interaction with a professional from their field of

This Monday, October 22, following an official meeting of the mayors of Sofia and Vienna, Mrs. Yordanka Fandakova and Dr. Michael Ludwig, the two cities will sign an agreement for cooperation.

The Agreement was negotiated by Sofia Investment Agency and Vienna Business Agency and will be signed by the heads of the two agencies Mr. Gerhard Hirczi – Managing Director of Vienna Business Agency and Mr. Vladimir Danailov CEO of Sofia Municipal Privatization and Investment Agency today in Vienna.

The Agreement aims to facilitate business cooperation between the two cities and to offer information and access to contacts and support that will help Sofia-based entrepreneurs in growing their business in Vienna and support entrepreneurs from Vienna to establish an office in Sofia.

In February of this year, Sofia Investment Agency signed a similar agreement with London. Learn more about the City-to-City agreement between London and Sofia.

Twelve Bulgarian companies from the Finance and Biotech & Life Science sectors will join the Bulgarian delegation in Vienna as a part of a parallel networking event called “25 Hours in Vienna” on October 22-23. The 25-hour long series of business meetings will aim to familiarize the visiting Sofia-based companies with the business environment in Vienna, establish key contacts with local partners and discuss the potential for cooperation.