During the 30th Anniversary Gala Reception of the American Chamber of Commerce in Bulgaria, held on June 5, 2025, at the National Museum of History, AmCham President Olivier Marquette addressed members, government officials, diplomats, and partners with a wide-ranging speech. Marking a pivotal moment in the organization’s history, Mr. Marquette reviewed key milestones and challenges from the past three decades, highlighting AmCham’s advocacy on behalf of sustainable business, democratic values, energy security, and transatlantic cooperation. His speech underscored the enduring role of AmCham as a trusted partner, principled platform, and a driver of progress and reform in Bulgaria’s evolving business landscape.
Please find the full text of Mr. Marquette’s address from the celebratory evening below:
Dear AmCham Members,
Prime Minister, Ministers, Government Officials,
members of the Diplomatic Corps,
Dear friends from the U.S. Embassy in Bulgaria,
It is profound honor for me to stand before you this evening and address you on the 30th anniversary of the American Chamber of Commerce in Bulgaria.
Thirty Years, indeed!
Almost a third of a century. For a business association, this is not merely a “long time,” it is a period of building something meaningful and lasting.
Over these three decades, the Chamber has evolved and grown in parallel with key events that have shaped our priorities and advocacy. When AmCham was founded, Bulgaria was experiencing a mix of emotions – from the pride of the national football team’s 4th place at the 1994 World Cup during that unforgettable American summer, to the challenges of a state-owned economy, low incomes, sluggish growth, and a fragile democracy.
The economic crisis and hyperinflation of 1997 led to the introduction of the Currency Board, which stabilized the economy and laid the foundation for growth. Structural reforms, political will, and privatization followed — paving the way for Bulgaria’s accession to NATO in 2004 and the European Union in 2007. That decade brought considerable expectations, sweeping industrial transformations, and the adoption of digitalization and good governance practices.
A major accomplishment for AmCham during that period was the avoidance of double taxation with the United States – the result of wise and determined leadership. The Chamber also strongly advocated for the economic benefits of the Joint Training Facilities introduced through NATO membership.
The global financial crisis of 2008 – 2009 pushed many Bulgarian companies to the brink. It was followed by proposals to expand state ownership in critical sectors such as energy, water, and healthcare.
During this time, EU funds became a key driver of business activity. Yet, for AmCham, the core focus remained on structural reforms in value-added industries, improving the investment climate to foster domestic capital generation, and aligning education with modern business needs — including nurturing entrepreneurship.
In the years that followed, we witnessed rapid digital transformation across all industries. The expertise and technologies of our members played a vital role in enabling this.
Eventually, modernization efforts extended to the Bulgarian Army. AmCham was instrumental in the public positioning of the F-16 Block 70 fighter jets – a vision that is now reality.
The COVID-19 pandemic tested our resilience. It showed that Bulgarian businesses, the healthcare system, and society could endure and even inspire — with empathy and heroism. I am personally proud that AmCham members, alongside the U.S. Embassy and America for Bulgaria, raised more than 1 million leva, transparently donated to 112 organizations in need across the country.
That spirit of solidarity continued in 2022, as we joint efforts to welcome and support Ukrainian refugees who fled their war-torn homeland — providing shelter and employment to help them rebuild their lives.
AmCham also champions energy independence and national energy security. We do so by supporting the deployment of AP 1000 technology and safeguarding the country’s existing energy infrastructure.
Dear members and guests,
These are only some of the highlights from the past 30 years. Today we are giving thanks to these three decades, as well as gazing our eyes and minds to the next thirty that come.
I want to assure you that AmCham today stands as a beacon for sustainable business, a compass for the rule of law and democracy, and a pioneer of new ideas, reforms, and initiatives that support economic and social progress.
AmCham is the flag of the American businesses in Bulgaria. But beyond that, it is a platform for like-minded individuals and companies who aim high and live by our principles.
We are trusted partners to the government, to our sister bilateral chambers, and stakeholders such as employer organizations, professional groups, and many others.
This is because our Code of Conduct commits us not only to serve our members, but also to ensure that our projects, initiatives, and events bring value to society at large. This is our contribution to the nation’s continued growth and prosperity.
None of this would be possible without the dedication, vision, and hard work of the generations of leaders who have served as Board members, Presidents, Executive Directors, and staff of AmCham. Thanks to them, the current board and I stand on the shoulders of giants who shaped the Chamber, built its legacy, and continue to inspire us toward the future.
Lastly, allow me to thank three remarkable people who have served as Executive Directors of AmCham Bulgaria since nearly its inception: Valentin Georgiev, Petar Ivanov and our current Executive Director, Ivan Mihaylov. We shall have a special moment with you in a while.
Once again – Happy Birthday, AmCham Bulgaria!