As part of the American Chamber of Commerce in Bulgaria’s 30th Anniversary Gala Reception, held on June 5, 2025, at the National Museum of History in Sofia, AmCham’s Chief Executive Officer Ivan Mihaylov delivered a keynote speech reflecting on the Chamber’s journey since its founding in 1994. In his address, Mr. Mihaylov honored the visionaries who established AmCham, reviewed landmark initiatives in policy advocacy, investment promotion, and rule of law, and emphasized the Chamber’s role as a bridge between the business communities of Bulgaria and the United States. His remarks also served as a call for unity, responsibility, and ambition for the next 30 years of AmCham’s mission.
Below is Mr. Mihaylov’s full speech, as delivered during the 30th Anniversary Gala Reception:
Dear Members – Happy 30th Anniversary!
This milestone belongs to you – the people who shape and drive our Chamber forward. You are the ones who develop industries, build connections, and whose businesses strengthen the bilateral ties between Bulgaria and the United States.
Indeed, in times both dynamic and turbulent, the Chamber’s leaders have introduced, defended, and protected the fundamental principles of doing business and upholding democracy. For thirty years, we have consistently advocated for deeper European integration, the embrace of Western values, stronger U.S. ties, entrepreneurship, a free market economy, better education, and the rule of law.
Today, AmCham Bulgaria proudly unites 350 members — American, Bulgarian, and multinational companies. Our mission is to connect businesses across the Atlantic and to continually work toward improving Bulgaria’s investment climate and business environment. There’s no doubt that every one of you shares this mission.
The very creation of AmCham Bulgaria was the American Dream made real— right here. It’s a moment to be proud of — and one that comes with great responsibility.
In 1994, a group of pioneers laid the foundation of our organization: John Eyerst, Benjamen Counter, Bert Damstra, Jordan Dardov, Penko Dinev, Tod Madden, Reimond Mazurek, Ventsislav Petrunov, Verginia Rollins, Ognyan Shentov, Lewis Staples, and Julia Watkins. Not all of them are with us tonight, but each of them deserves a big round of applause!
Shortly after our official registration in 1995, AmCham Bulgaria affiliated with the U.S. Chamber of Commerce and joined the AmChams in Europe network. Today, we are proud to be active partners in both.
Let’s take a brief look back at our journey.
One of the most iconic events in AmCham’s history was organizing the rally at Alexander Nevski Square to welcome the 42nd U.S. President, Bill Clinton, during his official visit to Bulgaria.
Olivier already mentioned our key NATO and EU-focused advocacy initiatives. Building on that foundation, AmCham has consistently supported Bulgaria’s EU integration — including Schengen accession, euro adoption, and, over the past six years, the modernization of the Bulgarian Armed Forces.
Advocacy
We often speak of “improving the investment climate,” but what does that really mean? Let me offer a few tangible examples beyond the many position papers, statements, and letters we have sent to a wide range of institutions:
- Healthcare as an Investment Report (2021) – presented a comprehensive vision for reforming the sector, complete with concrete proposals and step-by-step recommendations.
- Power Sector Decarbonization Study (2022) – outlined pathways for decarbonizing Bulgaria’s power system and industry in line with the EU Green Deal, while preserving our energy base and economic competitiveness.
Both reports were rooted in the needs of the business community and endorsed by relevant institutions and professional bodies.
Rule of Law
This is another area where AmCham has made lasting contributions. One of the most significant milestones was our role in the creation of Bulgaria’s modern Commercial Register in 2009 — a major step toward greater transparency in doing business.
Over the years, our White Papers have become a symbol of identifying critical issues and offering actionable, well-reasoned solutions. Our 2022–2024 Rule of Law initiative resulted in a major White Paper that called out corruption and helped position AmCham as a credible partner to many stakeholders.
Investment Promotion
AmCham has always worked to bridge businesses across the Atlantic. Our business missions in 2007 and 2011 – both with the support of U.S. Ambassadors opened doors. The 2012 mission with President Plevneliev marked another milestone.
In 2019, we joined forces with the U.S. Chamber in Washington D.C. to organize the first-ever roundtable with Bulgaria’s Prime Minister and half the cabinet, connecting them with major U.S. investors.
Since 2021, our Washington D.C. office has been actively linking U.S. investors with their Bulgarian counterparts — and vice versa. In 2024, we also held our first defense mission at AUSA.
Corporate Social Responsibility
Charity and community impact are core to who we are. Here are some of our most meaningful initiatives:
- National Volunteer Days (2009–2012) – mobilized our members’ employees to improve public spaces and community life.
- Thanksgiving Charity Dinner – held annually since 2003, this event raises funds for high-achieving students in need. In 2024, it reached a record BGN 103,000. Since 2019, we have also supported efforts to combat domestic violence, in partnership with the BCause Foundation.
- Our United Against COVID-19 and United with Ukraine campaigns showed that empathy and solidarity are core values of our community.
International Positioning
AmCham has also been a vital ambassador for Bulgaria on the international stage:
- We co-organized the Three Seas Business Forum in Sofia in 2021.
- During the 120th anniversary of U.S.-Bulgaria diplomatic relations, we released the second edition of our U.S. Investment Report (with the Institute for Market Economics), showing that American and Canadian investments are here to stay — and are key to regional stability and growth.
- We co-organized the Regional Economic Summits – one held in Istanbul last year, and the upcoming one in Athens.
All of this is a tribute to our past. It is this legacy that has shaped who we are today and who we will become tomorrow.
One thing is certain: the more united we are, the stronger we become – and the better we can serve our country.
We are an organization with a purpose. And that purpose is to lead and inspire.
Thank you for being an essential part of this journey.
Here’s to our shared success — past, present, and future!