Investment Profiles Design and Appications for Small Border Situated Municipalities

Agricultural and resource economics, 2024

Purpose. The purpose of the research is to determine the degree of implementation of specific regional policies in rural areas in the context of Bulgaria's integration into the European Union through the prospects of the changing economic situation and new trends in the implementation of regional policy. Methodology / approach. The focus of the research is the need for a working regional policy that gives importance to the development of rural areas and influences the demographic and socioeconomic processes in Bulgaria. The study is defined by comparative analysis, reference to expert assessment, use of statistical data, and analysis of strategic documents and programs related to regional development. Results. This research has shown that the applied regional development policies within the European Union have partial success. At the same time, the problems and emerging deficits are successfully defined, but it is more difficult to find optimal solutions that can be applied in more than one municipality. In this direction, regional policy has its achievements in its development, but new solutions are still being sought for several spatial and territorial problems in connection with integration into a common European market. This means a comprehensive process of functional impacts in the socioeconomic development of nearly 281 regions. In Bulgaria, the situation is even more complicated, because it is necessary to have a dual approach in regional politics. On the one hand, the development of the most urbanised regions, and on the other hand, the development of the rural areas, which are decisive for the development of the greater part of the territory of Bulgaria. Originality / scientific novelty. The regional development policy carried out in the years after 2007 has a static and spontaneous character, the new approach of the measures and programs after 2023 are based on new concepts and elements in line with information technologies, development of intelligent systems, economic connectivity to overcome the backward development of rural areas. New approaches and moments are proposed in the construction of a regional policy, which has a new framework and provisions for the development of the European economic space. In this direction, the need for expert decisions related to the management of regional development comes to the fore. Practical value / implications. It is necessary to make regional development a national priority. In addition, governments should facilitate access to young people and medium-sized businesses for the use of inputs and the promotion of projects. Access to financing, strategic, and planning activities, which have their characteristics at different levels, must be further developed.

Survey of Local Government Investments – dynamics and sources of financing: the cases of Bulgaria and North Macedonia, 2019

Local and regional authorities play a crucial role in the implementation, maintenance and rehabilitation of public infrastructure. Sub-national governments in the countries of OECD implement 57% of public investments while the implementation in EU countries is over 50%. The investments of local authorities of South and Eastern Europe increased in recent years, but the ratio of local investment to public investments made in many countries is under the EU average. At the same time, sub-national governments in SEE obliged to cover greater costs for the transportation infrastructure, the energy and road sectors, than the local authorities of Western Europe. The purpose of the article is to investigate the investment capacity of local authorities in Bulgaria and North Macedonia as representatives of SEE. An analysis of dynamics of capital costs for the period 2013-2017 is performed. The main sources of investment financing and direct investment capacity are researched. Based on a historical review of trends in finding sources of financing of capital costs (own sources, capital transfers from the central government, local expenditures) and current legislation and tendencies in the public investment sector, the possibilities for increasing the number of sources of investment financing and the inter-municipal cooperation are analyzed. Alternative sources of financing are studied due to the increasing investment needs. In addition, the paper provides comparative overview of the ratio of local investment to public investment and local investment and GDP in Bulgaria and North Macedonia and a comparison with the EU countries. The possibilities for introducing new local taxes and alternative sources for capital funding, including expansion of the local debt financing market and inter-municipal cooperation are investigated. 2 The investment capacity of sub-national authorities is crucial for the absorption of EU funds. Regarding the infrastructure projects, municipalities must ensure own contribution (through own revenue, net operating balance or debt financing). Lack of sources for municipalities' own contribution hampers their participation in EU projects.

Layout: Gisela Will -Zeichen der Zeit, Hamburg Printing: MediaMix Organisations-und Beteiligungsgesellschaft m.b.H., Schwalbach September 2006 3

SPOUDAI Journal of Economics and Business, 2011

The article examines the capacity of four medium-sized cities in Southern Europe, concerning the current situation of their assets (agglomeration economies, urban infrastructures, factors of labor and cost, etc.), the degree of development policies implementation and effectiveness by local authorities and finally the level of local authorities capacity to plan and implement particular policies and partnerships with the private sector in order to shape a favorable and attractive magnitude investments supporting through this way cities development and firms competitiveness. The analysis uses primary data from 310 small and medium sized firms in Southern Europe. At the end, the article provides some important conclusions especially for the studied cities, but also for similar cities in the wider zone of Southern Europe.

Eastern Journal of European Studies, 2010

This paper offers a comprehensive and balanced assessment of the spatial distribution and significance of MNEs activities for the development of regions in Bulgaria. Comprehensive official data and large business samples of foreign affiliates show that the MNEs impact is controversial as benefits are unevenly distributed across regions. The paper states that MNEs activities are not only one of the most important vehicles of local development, but also a factor in extending regional disparities in production, income and living conditions. Possible explanations could be found in the motives and structure of attracted FDI, lagging national development, low absorption capacity of regions and inadequate government policy towards FDI.

2014

The strategic decision-making may be studied as a process which takes into consideration several criteria. Regionalisation of the accessing countries is one of the key conditions represented particularly with regard to so called Chapter 21 and it is the assumption of satisfactory regional administrative capacity for the European regional policy implementing. The Slovak Republic, Czech Republic and Hungary followed the requirements and realised the regionalisation administrative and financial procedures before their accession in 2004. However, there is an important question onhow the real processes of strategic decision making in implementing of the regional policy works at the regional level and what is the basis in a diverse national context. The article is aimed to study the importance of different criteria at the regional level, based on the empirical research done in most of the regional governments in three Central European countries to show their country specific differences. ...

Journal of Security and Sustainability Issues, 2019

Authors of the article focus on the current issues regarding foreign direct investments and their impact on the economic development of Slovak regions. The aim of this article is to draft overview of stage of current development within the economic and investment policy of the Government of the Slovak Republic to meet the needs of regional development. The introduction part presents the theoretical basis described by local and foreign authors reflecting the level of foreign direct investments use including their influence on the economic progress in particular regions emphasised on the development and promotion of small and medium-sized enterprises. Analysis of the government investment policy is carried out in the specification part underlining the significant role of the Slovak Investment and Trade Development Agency. Stated knowledge provide the theoretical framework for the experimental part of the article. Experimental part of the article by the means of numerical statistics and comparison method analyses and evaluates the level of investment support provided to small and medium-sized regional enterprises through projects sustained by the Slovak Investment and Trade Development Agency within the years 2012 and 2017.Successfully concluded projects concerning the foreign investment aid for the particular Slovak regions are analysed in experimental part, which also quantifies investments based on their contribution to the growth in jobs and provides an overview of the cooperating activities among regions of Slovakia from 2007 to 2017. Contributional outcome of the experimental part of the article is presentation of governmental standards, which are required from regions in order to obtain investment aid while job creation is taken into account. Issued conclusions may inspire further economic operators and authorities responsible in area of social and economic regional development in Slovak republic, regions of other Member States and third countries of Europe as well.

Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie, 2017

Regional development balanced and sustainable, is a prime target interest not only locally and at the level of states and the EU as a whole. In the process of regional development, the small enterprises play an important role, contributing, on the one hand, at the rational use of local resources, and secondly, to create jobs and thus increase the living standards of local population. Based on these aspects, the paper examines, in a first hand, the manner in which are distributed the small enterprises from manufacturing, construction, trade, transport and hospitality industry at the level of the eight development regions. Also in the second part of the paper are presented the results of the analysis of territorial concentration of small active enterprises in 2014 in the five areas of activity, both in the development regions and counties of Romania.

Proceedings 2019

The main objective of EU regional policy is to reduce disparities in terms of employment and income of the population, level of infrastructure development, economic development, etc. In 1957, when the six founding countries signed the Treaty of Rome, their aim was "to strengthen the unity of their economies and ensure their harmonious development by reducing the disparities existing between the various regions and the backwardness of the less favored regions." In practice, this is an economic development policy focused on problem areas. In practice, this is a policy based on solidarity. Solidarity is mentioned in the preamble to the Treaty on European Union, which states that community action is geared to economic and social cohesion, and especially to reducing disparities between the levels of development of individual regions. Economic and social cohesion is supported through regional, social and structural measures. The integrated approach dates from the time of the emergence of European cohesion policy. The Territorial Integrated Approach also highlights the need to work with a more flexible sense of geography. Geography continues to matter. The regional policy of the Republic of Bulgaria arises with the intention of defending the European model of social structure, in which the elements of free competition and social market economy are accompanied by goals related to the solidarity and promotion of specific priorities for economic, social and territorial development.

2005

Investment activity has a central position in economic life, both in production and consumption, being the factor that simultaneously influences demand and supply of goods and services. Investments are the main instrument for achieving economic growth. By carrying out investment projects the newer and more modern technologies can be implemented, hence they represent an instrument for economic modernisation by which new structures can be created, more effective, conform to the strategic options for future development.