“Without morals, there is no success”
The year is 1994 and Bulgaria is going through a institutional and social crisis. Our country becomes an associate member of NATO. The government of Lyuben Berov gave up after they couldn’t reform the state institutions and start a privatization of the losing companies. The president Zhelyu Zhelev dismissed the parliament before calling new parliamentary elections. In times of uncertainty Mr. Mirtchev realized one of his biggest dreams and created one of the first companies in the information technology area “Net Is” of Bulgaria.
In January 1996, the Parliament rejected the second non-confidence vote against the Videnov council of ministers. The pressure in the country grew. Continuous mass protests with persistence for cabinet resignation began. On the contrary of all these dynamic events Mr. Mirtchev created the logistics company “Bultransport logistics & services”, but later he renamed it to “Movio Logistics”. Today the company offers a full logistics 3PL service including packaging, foiling, forwarding, traffic services and more.
In the beginning of 1997, Bulgaria fell in a deep political and financial crisis. The big cities were enveloped in protests, roads and streets were blocked. The country was standing before hyperinflation that was destroying the savings of a tremendously big part of the Bulgarian community, but it also melted the debts of the credit millionaires. In a few months 15 banks bankrupted. The company “Net is sat” was found in one of the heaviest for the Bulgarian economic year. It is specialized in providing internet services and in 2006 a licensed teleconferencing attendant as well as an advertisement agency “A team”, that offers integrating marketing communications- ATL, BTL, events management. Later, they added digital services to their portfolio
May 1997 – the country has a new parliament and government, together with Ivan Kostov, who started a program for fast and decisive reforms. Currency board was introduced that stabilized the finance system. The quota of the controlled prizes was lowered and mass privatization commenced. For the period from 1997 till 2001 45% of the state assets are privatized, including important companies like BGA Balkan, Kremikovtsi AD, Vidahim and more.
In this environment in 1998 Mr. Mirtchev created the first Bulgarian monthly business magazine “MET” Management Economics Technology, which later in 2001 was renamed to magazine “Manager”. The publication becomes the leader in the category of the business magazines, without an analog like the thematic concept and unrivalled like market presence, carrier of the title of Superbrand, awards from the Bulgarian Industrial Association, the Bulgarian human resources management and development Association, Grand Prix for the press media MEDIAMIXX, statuette the Golden umbrella and more.
A company named “Transport” was created in 1998, which specializes in services like import, marketing and distribution of consumer products; it is later renamed in Delion and the company Asko, importer and distributor of products of the legendary Canadian conglomerate Seagram company “Seagram” for Bulgaria.
A financial stabilization and a small inflation come after a decision for denomination of the Bulgarian Lev in 1999, which is equalized with the German marks. In the same year Bulgaria received an invitation to begin negotiations towards joining the European Union.
2001 set a new stage in transition with the appearance of the National movement Simeon the Second NDSV. It represents a program in which gathers against corruption and the big social differentiation and it wants trust for national government for 800 days. This is the year of establishment of Avendi, a leading Company in marketing and distribution of fast selling consumer Products and International Human Resourcing IHR, the first accredited educational training center of Bulgaria, which represents the internationally recognized institutes for professional qualification in the human resources, accounting, financing, marketing, purchase and supply spheres.
2004 is the year marked for Bulgaria by the most important foreign political event that is joining NATO. In this year, the Travel Retail Distribution TRD Company is created, which later reformed into a collaborative joint venture with the German company Gebr. Heinemann. In the same year the company New System is created, a leading Engineering company for building automation, uninterruptible power supply and energy protection.
2005 passed under the sign of the coming integration of Bulgaria with the EU. The multi-party parliament nominated a tri-party government, with Sergey Stanishev as the head. For the Business organization this was the year for restructuring of the existing associations. A corporative model of management was initiated, integrating the established companies into the holding company VM Finance group AD.
On the 1st of January 2007, Bulgaria became a qualified member of the EU. In the same year, ABC Children’s center was created, a chain of educational kindergartens working with embassies, international companies and Bulgarian families.
In 2009, Mr. Mirtchev was selected by the general gathering of the head-office BFKK for a President of the Federation of Canoe Kayak and for chairman of the Advisory council of the global contract of UN in Bulgaria, voluntary network of members, encouraging the business to develop social responsibility practices and projects for preserving the environment in our everyday activities. In that year VM Finance group created the company Menu in the prepaid corporative services region, which later made joint venture with the global leader Edenred and continued with its successful activity under the name Edenred Bulgaria till today.
Today we continue to upgrade this history of success. We look behind with honour to the legacy of our founder and all people contributing to the building and recognition of our company. We build strategic visions for the future, we reshape our business, we develop talented potentials, we race with the best and we run with the speed of change.
Mr. Vasil Mirtchev graduated the University of National and World Economy and the National sports academy. The combination of studying in international trading and finances and sports combined academic knowledge with strong will, strive for success, racing spirit and discipline.
This converts into the moving force of more than 25 years of entrepreneurship experience, joined with the creation of the companies of VM Finance Group. Today the holding association leads the portfolio of companies in logistics, distributing, retail, marketing, advertisements, publishing activity and educational spheres.
Vasil Mirtchev