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Positive economic prospects for Veliko Tarnovo region

Friday, Aug 14, 2009

Veliko Tarnovo has a dynamic and modern present and goals for the future. Its major aim is to become a European region with sustainable development like the regions in the European Union countries by utilizing a favorable climate for investments, working on new projects, business and infrastructure plans.
Veliko Tarnovo region works for the achievement of sustainable and balanced development through: implementing of modern and high-effective forms of international tourism; drawing of high technologies in the industry; active attracting of local and foreign investment. ?hese activities are expected to result in improvement of the life standard of the population of the region. Strategy for regional development has been elaborated in order to ensure the development processes in Veliko Tarnovo region. Based on SWOT analysis the vision of the region is determined and overall strategic goal is formulated.
Vision: “Veliko Tarnovo region – European region with leading role as an industrial, transport-logistical, tourist, cultural and educational center; attractive for investors, people and tourists; achieving stable and balanced territory development; and ensuring security, clean and harmonic environment and good living standard”.
The overall strategic goal, formulated in the Strategy for Regional Development: “Achievement of economic growth and improvement in quality of life on complex and balanced development of the region”, is decomposed to few priorities. They are:

• Economic dynamism and regional competitiveness;
• Infrastructure and environment;
• Quality of life;
• Territorial cohesion;
• Sustainable alternative tourism;
• Institutional environment.

Major characteristic of the region economy is its diversification and existence of traditional productions. Business climate improvement and the extended flexibility achieved by the region companies, that are trying to act in response of the high European and international standards for the quality of their production; determine stability and sustainability of the region economic development for the last few years.
Strengths of the region that influenced region economy character are:
• Favorable geographic and transport location;
• Well-developed transport, communication, energy and water-supply structure;
• Large territory of fruitful arable land;
• Well-determined hydrographic net;
• Rich non-metalliferous minerals;
• One of most significant concentrations of well-preserved cultural and historical heritage in the country;
• Balanced development of the economic complex;
• Large number of Small and Medium sized enterprises;
• 3 big universities ensuring high-qualified labor force;
• Well-educated and vocationally skilled cadres;
• Well-developed settlements network.
Veliko Tarnovo Region offers excellent opportunities for tourism: remarkable nature sights, historical and cultural monuments, unique architecture, museums, mineral springs, hunting shoots, etc. In the Region are concentrated more than 140 historical monuments of national significance, which is 15 % of the total number for the country.

Source: www.vt.government.bg