3.30 Veliko Tarnovo 2023, Инвестиционен анализ

The municipality of Veliko Tarnovo creates a favourable environment for business development and for attracting investments that have a perspective mainly in tourism, culture, education and innovation. The mayor’s team and the municipal administration make a leading contribution to the development of the city. The administration has built capacity for efficient provision of administrative services, including electronic services. It maintains an adequate feedback relationship with users, and in addition, it has also created two outsourced administrative offices, tailored to the geographic location of the municipality. Employees ensure adequate access to information about the discussed documents, decisions and policies, which is one of the prerequisites for the transparency of the consultative process.

The mayor and the mayoral team implement policies for the development of the municipality in two directions: development of the administration’s capacity for quality service provision and promotion of investments in the area. They exercise control over the activity of municipal companies and in relation to the executors of public procurement contracts; they also apply an equal approach of control institutions to private business.

The municipal council has adopted an Ordinance for the promotion of investments and has created basic rules for business participation in the advisory process. However, they should be further developed into concrete and transparent interaction mechanisms (consultative advice, information on compositions, rules of operation and work results). The City Council adheres to the standards of publicity and accountability regarding its work, striving to seek accountability from the mayor and the administration as well.

The website of the municipality provides basic information about business activity, which is available in sections “Investment destination”, “Economy and finance” and “Construction and investment activity”. The main information can be found in the “Investment destination Veliko Tarnovo” section, where data are published on the region’s economic profile, business environment, local regulations, location and connectivity, IT and outsourcing, land and property market, education and labour market. In 2023, a specialised website “Invest Veliko Tarnovo” was created, which provides more detailed information on the above topics, including information on the potential for innovation. The municipality’s plans include the development of a new site to ensure a more adequate structuring and presentation of information.

Local business has favourable conditions for carrying out economic activity, especially in the field of cultural tourism. The characteristics of the city create a significant potential for business development in the field of culture, cultural tourism, education and innovation. Business has the potential and resources to play a key role in good governance policies but exhibits a rather passive and declarative approach to the subject.

Contribution of civil society structures (media and civil organisations) to the implementation of public control over institutions, respectively to the creation of an environment favourable to investments and fair competition between economic entities: moderate, with the potential for a more substantial contribution, provided they mobilise the intellectual resources of Veliko Turnovo University and National Military University “Vasil Levski”.