Category Archives: Events


Employers ‘and social partners’ organizations should be involved in the formulation, implementation and monitoring of European and national Blue Economy policies. The importance of building and maintaining a sustainable Blue Economy goes far beyond the narrow understanding associated with coastal zones, as many economic activities depend on and affect the water resources that are connected to the world’s oceans. This was stated by the Vice President of SGI Europe and Secretary General of Bulgarian Industrial Capital Association Dr. Milena Angelova during the two-day European Forum on Blue Economy, organized in Rome with the participation of UN representatives, Commissioner Sinkevicius, businesses and stakeholders.

“The blue economy plays a significant role and has a growing potential to promote economic development by contributing to quality employment and improving people’s well-being. These opportunities should be used to the maximum, while working to minimize the adverse effects on climate, biodiversity and the environment, “said Dr. Angelova.

The EU has foreseen significant European funding to support the sustainable blue economy, including through instruments such as Horizon Europe, the Structural and Investment Funds and the Mechanism for Recovery and Sustainability. According to Dr. Angelova, this funding needs to be easily accessible to operators at national and local level. At the same time, however, it is important to attract private funding for the development of the blue economy, which requires projects that are attractive to private investors. Dr. Milena Angelova called for the promotion of more joint projects between the public sector, businesses and people at the local level.

During the forum, she also said that due to its nature, the blue economy should be considered comprehensively and consistently in policy development. This requires seamless cooperation between politicians at all levels, both vertically and horizontally – between the EU and national governments, between Member States, and between different policy areas such as industry, fisheries, trade, transport, energy, employment and the environment.


Regional cooperation between Member States and with non-EU countries is particularly important to ensure the security of maritime activities and to protect human and environmental rights against internal and external geopolitical threats, including piracy, environmental crime and cybercrime.

In her speech, Dr. Angelova called on the EU to actively support the development and implementation of digital solutions. Innovation is needed to improve energy and material efficiency and to help reduce greenhouse gas emissions, air, water and waste pollution. Special attention should be paid to supporting small businesses in the green and digital transition.

The blue economy and its potential must be seen in a global context. To this end, international cooperation and common rules are needed to ensure a level playing field and avoid conflicts over marine resources. Dr. Angelova stressed that the EU must strengthen the global implementation of international conventions and agreements in areas such as trade, transport, working conditions, climate and the environment.

“The EU must make every effort to ensure that the conditions for the blue economy in the Union are competitive with those of other countries such as China, and to strengthen the blue economy as a key element of the partnership with Africa. This is necessary for EU companies to be able to export products, technologies and solutions for a sustainable blue economy to international markets and to compete successfully with imports from outside the EU, “she added.

Among the main highlights of her speech was the need for additional training and measures to raise awareness of the importance of the blue economy. She set an example by providing opportunities for healthy eating, mobility and recreation, protection of the marine environment and others.

Dr. Milena Angelova drew attention to key sectors for the blue economy such as maritime transport and ports, fisheries and aquaculture, tourism, shipbuilding and energy. She called on the EU to encourage investment, improve competitiveness conditions and exchange good practices of companies in these sectors.

The blue economy refers to the oceans, seas and coasts, and yet, through cross-border supply chains and common markets and through a shared climate and environment, it predetermines the importance of regional cooperation. It covers a wide range of sectors and operations, and the businesses involved range from large international companies to local SMEs.


On 5th of December 2021 BICA marks the 25th anniversary of the establishment of Bulgarian Industrial Capital Association (BICA), the most representative organization of employers at the national level, uniting 3/4 of economic activities and over 10,000 companies in the country. This is a joyful and inspiring occasion for BICA to make sense of its current path, to assess its contemporary identity and to prepare for future successes and challenges.

As part of this process, the Association would like to seek a new, even more expressive vision of its hitherto used (and already well known to the general public) logo, which corresponds to its evolving nature, essence and mission.

BICA announces a competition for redesign of its current logo or creation of a completely new one.

TOPIC: Redesign of the BICA logo.

VISION: The projects are expected to correspond as adequately as possible with the essence and mission of BICA, as well as their content to be expressed in modern, accurate, legible and aesthetically sound forms.


  • Preferred colors: black, white, blue, gray, yellow;
  • Proposals must be submitted in PDF format;
  • The submitted projects should be presented in one black and white and in one color version;
  • To be developed in variants of Bulgarian (Cyrillic) and English (Latin) language.


  • Adequate artistic and aesthetic interpretation of the topic;
  • Originality of the idea and vision;
  • Compliance with the above technical requirements;
  • High quality in technical execution.

A special jury, composed of graphic design experts and members of the Management Board of BICA, will review and evaluate all submitted projects. Thus, among all the projects, a winner will be announced, who will be awarded with the following prizes: redemption, diploma and a cash prize of BGN 1,500.

Up to 3 variants (projects) of a logo are accepted, accompanied by the three names of the author and a contact phone number at:  For additional explanations you can contact us at this e-mail or by phone +359 884 251 809.

Deadline for submission of projects: November 10, 2021.

The results of the competition will be promoted through all communication channels of BICA, as well as in the national media.

The submitted projects will be considered and shared only for the purposes of the competition. The participants in its organization, as well as the members of the jury, are acquainted with the current Law on Copyright and Related Rights in our country, and guarantee its strict observance in the course of the procedure.

For the assignor:

Bulgarian Industrial Capital Association (BICA) was established on December 5, 1996 and is the most dynamically developing representative organization of Bulgarian business at the national level. Its members are over 90 branch chambers, which represent 3/4 of the economic activities in the country, with over 10,000 companies providing employment to nearly 500,000 people. BICA has a network of regional chambers, which cover 2/3 of the municipalities in the country.

The Association has established itself as a spokesperson for the real manufacturing sector, protects the interests of its members before the executive and legislature at national and European level, influences the development of regulations and policies in the economic sector, works systematically to increase the competitiveness of Bulgarian enterprises. creating a favorable business environment and stimulating the Bulgarian economy as a whole.


There is no perfect Recovery and Sustainability Plan. No matter how much we change it, we cannot achieve absolute perfection. The best plan at the moment is the submitted plan. That is why we call for its accelerated submission and coordination with the European Commission. This was stated by the Executive Director of BICA Dobrin Ivanov during today’s meeting of the Committee on European Union Affairs in Parliament. Atanas Pekanov, Deputy Prime Minister for European Funds Management, was heard at the meeting in connection with the progress made in drafting the National Plan for Reconstruction and Sustainability of the Republic of Bulgaria.

During the meeting of the commission Dobrin Ivanov made two recommendations for improving the plan, which according to him do not require a change in the text and drafts of the plan. They relate only to the financial allocation, which allows these corrections to be made very easily and quickly.

The first recommendation has been made many times by BICA and it concerns the means for economic transformation of Bulgarian business. The association called for a balance to be struck between direct support for businesses and the possibility of providing financial instruments. “In the first version of the plan, the funds in the three funds for economic transformation were BGN 900 million and were only for direct support. In the latter case, they have been increased to BGN 1.2 billion, but the balance has been disturbed and financial instruments have been given precedence, “Ivanov added.

According to him, at the moment there are enough financial instruments on the Bulgarian market, which, however, the business does not recognize and does not use. The Executive Director of BICA reminded that out of BGN 2.5 billion provided by BDB to guarantee bank loans provided by commercial banks, only about BGN 334 million were utilized funds. This is below 15%, which shows that the effect sought by the government is not being achieved.

According to Dobrin Ivanov, the national plan is to restore the economy from the effects of the COVID-19 crisis. For these two years, Bulgarian companies have been decapitalized, heavily indebted, with reduced sales revenues and very difficult to invest. It is not acceptable for them to be offered a financial instrument – credit financing, because it will not provide a quick recovery, and may even in some cases worsen the financial condition of enterprises. While direct support will provide the necessary liquidity and will activate additional private investments in the form of self-financing amounting to at least 50% of the total value of the investment.

The second recommendation of BICA is regarding the funds provided under the scheme for support of pilot projects for production of green hydrogen and bio gas. For the association of the BGN 877 million set in the PVU for the construction of 1.7 gigawatt hours of RES and batteries for storage of the electricity produced by them, about BGN 150 million should be redirected to the scheme for economic transformation with the same purpose, while maintaining the overall commitment to the depletion of RES capacity. In this way, small and medium-sized enterprises will be given the opportunity to build renewable energy sources for about 350 megawatt hours, which they can use for their own needs. Thus, Bulgarian companies will reduce the total price of electricity they use and will be more competitive.


The Association of  Organizations of Bulgarian Employers’ (AOBE) sent a  signal  to the Prosecutor General’s Office, the Specialized Prosecutor’s Office, the Sofia City Prosecutor’s Office, the Ministry of Interior, the State Agency for National Security, the CDCOC, and the Commission for Protection of Competition. The grounds for referring to these institutions are established data, allowing to make a reasonable assumption of  a crime of a general nature , which with its size and scope endangers the economy and national security of the Republic of Bulgaria. Taking into account the number of persons involved and participating in the achievement of the specific result, it can also be assumed that there is a permanently structured criminal association, which aims to commit a crime.

You will find more information below in the full text of the  signal and its annexes.













Vasil Georgiev Velev,  in his capacity as Chairman of the Management Board of the Association of Industrial Capital in Bulgaria , BULSTAT: 121442528, with address: Sofia, Sofia Municipality, Oborishte District, 15 Trakia Str.

Dobri Dimitrov Mitrev, in his capacity of Secretary General and member of the Management Board of the Bulgarian Chamber of Commerce – Union of Bulgarian Business , BULSTAT: 831391124, with address: Sofia, Sofia Municipality, Oborishte District, 76 Chataldja Str.

Tsvetan Atanasov Simeonov, in his capacity of Chairman of the Management Board of the Bulgarian Chamber of Commerce and Industry,  BULSTAT: 000703066, with address: Sofia, Sofia Municipality, Oborishte District, 9 Iskar Str.

Kiril Petrov Domuschiev, Chairman of the Confederation of Employers and Industrialists in Bulgaria – the Voice of Bulgarian Business,  BULSTAT: 130439965, with address: Sofia, Sofia Municipality, Triaditsa District, 8 Han Asparuh Street







Reasons to refer you to this signal are established data, allowing to make a reasonable assumption of a crime of a general nature, which with its size and scope threatens the economy and national security of the Republic of Bulgaria. Taking into account the number of persons involved and participating in the achievement of the specific target result, we can also assume that there is a permanently structured criminal association, which aims to commit a crime. Therefore, in view of your powers, we bring to your attention the factual circumstances of the above conclusions, which are:

On the electricity market operated on the Bulgarian Independent Energy Exchange (IBEX), on the platform “Day Ahead” the  average  price for 1 MWh of base capacity for the period July 27 – August 5, 2021 is in the range of  BGN 177.89 – BGN 330.73  – the most most expensive throughout Europe, reaching even over BGN 400.00 / MWh per hour (see Appendix № 1 in  PDF  or  MS Excel). Moreover, this price is over 50% higher than the EU average and over 75% higher than the price of electricity in Germany, France, Austria and Switzerland and more than two and a half times the price for the same period last year. year. This result is a cumulative effect on the one hand from the increased demand (including signs of stock market manipulation) on the Day Ahead platform, and on the other hand from the insufficient and poorly structured supply of electricity by the producers of the same.

The subject of this signal is the insufficient supply of quantities by the producers of electricity on the platform “Day Ahead” and in particular by the state company TPP “Maritsa East 2” EAD, stating the following specific facts that allow us to make a reasonable assumption of a crime of a general nature.

  1. In 2020, TPP Maritza Iztok 2 achieved a record loss of over BGN 341 million, with the accumulated loss (including losses from previous years) exceeding BGN 1.15 billion. The negative financial result for 2020 is almost 75% of the revenues realized by the company and the TPP are literally facing bankruptcy due to over-indebtedness, as its current liabilities significantly exceed its current assets.
  2. According to Decision № Ц-27 of 01.07.2021 of the Energy and Water Regulatory Commission, the state company TPP “Maritsa East 2” EAD is entirely at a profit at price levels of electricity above BGN 220.83 / MWh, ie. at this price of electricity the company covers all its conditionally fixed and variable costs related to the production of electricity. Every lev above this price brings the company an operating profit. In the same decision № Ц-27 of 01.07.2021 of the Commission for Energy and Water Regulation, page 29 in the table of technical and economic indicators are indicated as the net electricity, forecast for the period 01.07.2021 – 30.06.2022. in the amount of BGN 6,501,789 MWh, as well as the amount of the estimated variable costs – BGN 1,115,651 thousand In other words, the EWRC experts point out that at a price above BGN 171.59. / MWh fully cover the variable costs of the company for the production of electricity, ie. each BGN above this selling price (up to BGN 220.83 / MWh) will reduce the possible losses of the company from the reported conditional fixed costs.
  3. At the same time, during the specific period, July 27 – August 5, 2021, the state company TPP “Maritsa East 2” EAD does not offer electricity on the platform “Day Ahead” or offers it at 20-25% of its available capacity. With an installed capacity of 1610 MW for a total of 8 units and available capacity of the period in the range – 1207-1063 MW (see Appendix №2 in  PDF  or  MS Word ), TPP “Maritsa East 2” EAD offers energy from only 2 units , adding another unit only after public public reaction and dissatisfaction – respectively a total of between 230 and 500 MW in the individual time periods (see Appendix № 3 in  PDF  or  MS Excel ).
  4. The lack of supply even at incomplete capacity on the part of the state-owned company TPP Maritza East 2 EAD  deprives the company of potential profits that it could make  and at the same time maintains an artificially high price of electricity on the day ahead of the IBEX platform.

What has been said so far illustrates behavior that can in no way be considered responsible, much less good governance. We do not work with the available, but with underestimated in times capacity (averaged about 400 MW at a possible 1207 MW), do not use the opportunities to make profits at an appropriate price level, do not use the opportunities to reduce accumulated losses, such as insufficient supply  in one with a number of “buy” offers, which arouse serious suspicions of stock market manipulation , keep the high price and practically destroy the Bulgarian industry.

In our opinion, the stated inaction is a constitutive act. Given that this example – July 27 – August 5, 2021 is far from an accident or an isolated case, there is a reasonable assumption in our opinion that this is a continuing crime.

From the above it is established another inaction and non-fulfillment of obligations by persons with management functions in TPP “Maritsa East 2” EAD and BEH, as well as by the Minister of Energy as a principal,  which is essentially a pricing element of the electricity market, as a direct affects the competitiveness of Bulgarian industry (which competes with markets with significantly cheaper electricity), as well as the prices of goods and services for end users. Thus, once again, Bulgarian citizens and Bulgarian businesses will pay for the irresponsibility and mismanagement that has become a practice in Bulgarian state-owned companies, including especially in the energy sector. The interest of both the State and its company TPP Maritza East 2 and third parties – electricity consumers (industrial enterprises, hospitals, schools, municipal and state administrations, etc.) has been damaged.







In view of your function of supervising legality in the Republic of Bulgaria and given the data set out in this signal, please order a circumstantial inspection to establish the facts of the case and in case of assessment of sufficient data on crimes committed, order the initiation of relevant pre-trial proceedings.

Attachments:  According to the text.





On July 14, 2021, SGI Europe – the European association representing employers and companies providing public services and services of general interest, regardless of their ownership and status – announced the start of the new next edition of its initiative “CSR mark of SGI Europe And invites all interested to participate in it.

As in previous years, participants will have the opportunity to assess the level of compliance of their organization with the agreed international norms on corporate social responsibility (CSR). Moreover, this year’s edition sets itself the ambitious goal of bringing together and attesting to the tremendous contribution of SGI Europe members and partners in supporting citizens, businesses and territories affected by the COVID crisis, demonstrating their responsible behavior and involvement in reconstruction efforts to build greater sustainable society.

The ability to detect and work with sustainability data will be a key element in ensuring future funding and success in a legislative framework in which major changes are expected. For this reason, in this issue, the CSR SGI Europe logo will offer campaign participants a special training event that will provide basic knowledge of the EU Taxonomy Regulation – designed to become one of the most important tools. of sustainable development policy.

Corporate social responsibility has undoubtedly changed in recent years. Therefore, the award ceremony in Paris in February 2022 will mark the beginning of a new generation of SGI Europe CSR. The organizers are committed to creating a new learning framework to support SGI Europe members and partners in integrating and enhancing their actions to achieve environmental and social sustainability.

All the necessary information for participation, including the self-assessment tool (translated into 8 languages), is now available on the website and will remain there until October 14, 2021. The application and verification of compliance with CSR standards is carried out in a few steps. For further clarification or questions, you can contact Stefan Enika at

SGI Europe (known until December 2020 as CEEP – The European Centre of Employers and Enterprises providing Public services) is a European association representing companies providing services of general interest, regardless of their ownership or status. It is one of the three cross-sectoral social partners at European level, recognized as employers’ associations by the European Commission. The Organization and its General Secretariat in Brussels represent the interests of their members in the European Social Dialogue before the European institutions.

Through contacts with institutions such as the European Parliament, the Economic and Social Committee, the European Committee of the Regions and the European Commission, SGI Europe consults on draft regulations, directives and other legislation of interest to members, sends representatives and observers to committees and advisory bodies. bodies of the European institutions, and thus be able to inform its members about the latest developments at European level. SGI Europe members, in turn, share national experiences and best practices and get involved when SGI Europe participates in the European consultation process to set out their views.

One of SGI Europe’s vice presidents is Dr. Milena Angelova, Secretary General of Bulgarian Industrial Capital Association (BICA).


Bulgarian Industrial Capital Association (BICA) presented the Eighth National Awards “Business to the Rules”. The awards were presented at an official ceremony in Sofia Hotel Balkan, and guests of the event were the caretaker Deputy Prime Minister for Economic and Social Policies and caretaker Minister of Labor and Social Policy Galab Donev, the caretaker Minister of Tourism Stella Baltova, the caretaker Minister of Regional Development and Public Works Violeta Komi , the Chairman of the NSI Sergey Tsvetarski, the Executive Director of BSMEPA Boyko Takov, the Chairman of ESC Zornitsa Rusinova and many other representatives of business, non-governmental organizations and social partners.

The Bulgarian National Association of Essential Oils, Perfumery and Cosmetics took the prize in the category “For normative act or administrative practice, which lead to reduction of the gray economy and improvement of the business environment”. The Law on the Oil-bearing Rose, initiated by the association, introduces administrative practice in connection with the control and suspension of the export and import of fake rose oil. Also nominated in the category were the Executive Forest Agency, the Ministry of Education and Science and the Ministry of Finance.

The winner in the category “For a person or organization that has contributed to the restriction and prevention of the informal economy through an active position” was the Association “Movement for National Cause”. The award was given for the development and launch of the Bulgaria Wants You platform, which aims to attract Bulgarian citizens from abroad to return to the country and join the local labor market. The platform unites the efforts of business and local authorities by guaranteeing real and secure jobs and contributing to the reduction and prevention of undeclared work. Diplomas in the category were also awarded to the Association for Qualification of Motorists in Bulgaria, the Bulgarian Association of Restaurants and the Friedrich Naumann Foundation.

Bulgarian National Radio, Horizon and Nedelya 150 are this year’s winners in the category “Journalist or Media Contributing to Changing Public Attitudes Toward Intolerance of the Informal Economy.” They beat the competition of the investigative journalist of bTV Maria Tsancarova, the show “Traces remain” on BNT 1 and the electronic newspaper “Economic Life”, which were awarded diplomas.

The nominations for the awards were made through a broad public consultation among the members of the Association of Industrial Capital in Bulgaria, all social partners, members of the Public Council for Restriction and Prevention of the Informal Economy, which includes representatives of a number of state institutions and the media. The winners were announced by secret ballot by a large expert jury composed of over 100 prominent personalities: prominent economists, public figures, media representatives, members of the National and Control Council of BICA, the Public Council for Restriction and Prevention of the Informal Economy and the undeclared employment, etc.

The competition aims to highlight and award leading institutions and individuals with an active position and contribution to the reduction of gray practices. Thus, for another year, BICA encourages active action in the fight against the informal economy and promotes the constructive role of business in society to improve the socio-economic environment.


The International Coordinating Council of Employers’ Unions (ICCEU) discussed the business implications of the Covid-19 pandemic. Representatives of employers’ organizations from Bulgaria, Russia, Ukraine, Azerbaijan, Hungary, Georgia, Latvia, Armenia and Kazakhstan were unanimous that small and medium-sized enterprises suffered the most. They agreed that sustainable investment is needed to speed up economic recovery to support accelerating growth.

Among the main priorities of the members of the International Coordinating Council of Employers’ Organizations for the period 2021-2022 are working with local governments to continue supporting compensation for losses, as well as encouraging their members to invest more in supporting the transition to digital and green transformation.

During the meeting, the Chairman of the Board of BICA Vasil Velev presented the situation in Bulgaria. “In Bulgaria, we had several measures to support businesses and people – credit holidays for companies and individuals, state guarantees for loans to SMEs, state aid to maintain employment under the model 60/40. However, the measure that the business really needed was related to support for fixed costs of enterprises with more than 30% drop in sales, which the Bulgarian government never recognized. We are already seeing signs of overcoming the crisis, but the Bulgarian economy is recovering unevenly. While the industry began to report growth in the last 2 months, even compared to the pre-crisis period, sectors such as tourism and passenger air transport are likely to return to pre-crisis levels only after 2 years, “said Vasil Velev.

During the meeting, the rotating chairman of the organization for 2022 was elected. This is the Union of Industrialists and Entrepreneurs in Russia, represented by Alexander Shokhin.

For the ICSD

The International Coordinating Council of Employers ‘Organizations was established in 2010 and unites 18 employers’ organizations from 15 countries in Central and Eastern Europe and Asia. Its main mission is to promote the establishment of sustainable links between them, exchange of experience in the field of regulation of social and labor and related economic relations.


The following is the full text of a letter from Association of Organizations of  the Bulgarian Employers (AOBE) urging the postponement of a market union at the Bulgarian-Greek border for the last quarter of 2021, when the market union between Bulgaria and Romania is expected.
The letter was sent to the Minister of Energy Temenujka Petkova, the Minister of Economy Lachezar Borisov, the Chairman of the EWRC Ivan Ivanov and the Executive Director of the Bulgarian Independent Energy Exchange EAD Konstantin Konstantinov.






SUBJECT: Insistence on postponing a market union on the Bulgarian-Greek border for the last quarter of 2021, when the market union between Bulgaria and Romania is expected


Association of Organizations of  the Bulgarian Employers (AOBE) supports all efforts to create a transparent and competitive electricity market in Bulgaria. One of the main priorities of the Bulgarian Independent Energy Exchange EAD in recent years, for which the exchange operator receives the full support of trading participants, is the implementation of market mergers with neighboring market areas.

According to the latest publicly available information, the first market merger on the Day-Ahead market on the Bulgaria-Greece border is planned for mid-May 2021. It is important to note that the Italian and Greek markets with which we will merge are the most -the most expensive electricity markets throughout continental Europe. The planned unification will inevitably lead to the equalization of price levels in the direction of rising electricity prices on the free market in Bulgaria, despite the partial increase in competition in supply and demand.

For this reason, the Association of Bulgarian Employers’ Organizations calls for a review of the planned start date and its postponement for the last three months of 2021, when the market unification of the Bulgarian-Romanian border, which has the largest national importance for the Bulgarian energy and industry, as through it Bulgaria will have access to 6 other market areas with lower price levels than those on the Bulgarian electricity market.

Among our main motives for requesting this postponement are the many cumulative factors that affect upward electricity prices such as increased demand due to the exit of all business consumers, record high prices of CO2 allowances, planned annual repairs of Kozloduy NPP EAD, the forthcoming new price decision of the energy regulator from 01.07.2021, as well as the fact that we are the only market in the EU whose consumers pay a fixed surcharge for long-term contracts. Although the transmission capacity between Bulgaria and Greece will not increase after the market unification, in the forthcoming implicit distribution the trade exchange between the two countries will increase many times over, as so far it is used to a limited extent by the trade participants,

In this situation, AOBE is of the opinion that the national interest at the moment is to focus all efforts on the process of unification of the markets “Day-ahead” on the Bulgarian-Romanian border, which will actually lead to a serious increase in efficiency, liquidity and competition electricity market. Only after its implementation should the subsequent integration of the national market with that of Greece and Italy proceed. By adopting this sequence, possible market shocks and further increase in the wholesale price of electricity in Bulgaria will be avoided. We reiterate that our members support, in principle, the unification of the southern border, but it must be done in the best way and at the right time.



Chairman of the Board of

Association of Industrial

capital in BulgariaRADOSVET RADEV, / P /

Chairman of the Board of

Bulgarian Chamber of Commerce 


Chairman of the Board of

Bulgarian trade and industry



Chairman of the Board of

Confederation of Employers and

the industrialists in Bulgaria                                VASSIL VELEV,

                                CHAIRMAN OF AOBE FOR 2021


Bulgarian Industrial Capital Association (BICA) and the Prosecutor’s Office of the Republic of Bulgaria signed a memorandum of cooperation. The document was officially signed today by the Chairman of the Board of BICA Vassil Velev and the Chief Prosecutor Ivan Geshev. The purpose of the agreement is for the two organizations to partner in the development and implementation of comprehensive measures to prevent, identify and sanction violations of regulations in all areas of the economy.

It is extremely important for BICA not only to establish the existence of gray practices and to identify illegal actions in the field of energy, construction, transport, licensing and other regulatory regimes, but also to punish violators with a view to deterrence and prevention. The gray economy, corrupt practices and the lack of investment security are among the main factors holding back the growth of the Bulgarian economy. BICA can and is ready to provide assistance to the Prosecutor’s Office with an objective and competent analysis of activities in various sectors of economic life in the country.


BICA will alert the Prosecutor’s Office in case of irregularities that raise suspicion of illegal activity such as corruption, homelessness in public enterprises that are state or municipal property, market manipulation in electricity trade, theft of enterprises, draining of public funds through misuse and abuse of receiving inherited unemployment and sickness benefits, issuing decisions of the bodies of medical expertise in establishing the ability to work, the type and degree of disability of persons in violation of regulations, etc.

The memorandum also states that good European and world practices in the fight against corruption, money laundering and tax crimes will be studied and applied. And the parties will annually review the implementation of this memorandum.


The General Assembly of Bulgarian Industrial Capital Association (BICA) elected new governing bodies. The current chairman of the Board of Directors of the Association Vassil Velev was re-elected for a new term, and his deputies will be Daneta Jeleva, Nikola Zikatanov, Rumen Radev and Kancho Stoychev. Boyan Boychev, Kiril Boshov, Stefan Vassilev, Mariana Iteva and Stefan Chaikov are also members of the Management Board of BICA. During the meeting, the composition of the National and Control Council of BICA was renewed.

The General Assembly also approved the priorities in the activities of BICA for the next four years. The association will work to improve the business climate in the country, to increase the competitiveness of the economy, to develop capital markets and research and to promote the implementation and continuation of reforms in the fields of energy and human resources.

According to BICA, the macroeconomic policy of our country should be directed in three main directions. These are maintaining the tax model, effective control over public spending and companies with a monopoly position on the market and a course towards the Eurozone and the OECD. The association will support the preservation of the proportional tax of 10% and the amount of social security contributions.

Emphasis in the priorities of BICA is the industrial policy to support the development of the economy so as to create conditions for accelerated economic growth, and hence income growth.

“Accelerating the activities for introduction of e-government, better regulation for free business development, implementation of a strategy for modernization and digitalization of the industry and promotion of investments and innovations are just some of the priorities that our country must implement in the next few years. years if we want to have a competitive business. These are the main prerequisites for the necessary growth of over 6% of GDP, through which to achieve catch-up development, reversal of migration flows and a future for our children and grandchildren in Bulgaria, “said Vassil Velev.

BICA also focuses on the development of capital markets. The capital market in our country can be used to raise resources to finance investment projects of both SMEs and projects of significant public interest, including participation in international companies, construction of energy, industrial capacity and infrastructure projects. Privatization transactions should be carried out mainly through the stock exchange, incl. minority shares in state-owned companies, such as Kozloduy NPP, NEK, Bulgartransgaz, ADIS, Bulgarian Sports Toto, Electricity System Operator and others.

During the General Meeting, the Executive Director of the Fund of Funds Vladimir Danailov and the Executive Director of the Bulgarian Export Insurance Agency Momchil Roynev presented to BICA the opportunities for support and financing of Bulgarian companies through the various financial instruments of the two companies.

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