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The Bulgarian municipality of Stara Zagora, through its Investment, Energy Efficiency, and Green Transition department, is spearheading a project focused on enhancing entrepreneurship, innovation, and digitalisation (PID) within the region.
This initiative is funded by the European Union under the Technical Support Instrument.
The primary objective of the project is to drive structural reforms that will foster sustainable economic development in Stara Zagora.
In response to the dual challenge of transitioning to both a sustainable and digital economy, the region aims to revitalise its economic landscape by shifting towards high-tech production and knowledge-intensive services. This transformation is crucial not only for seizing new commercial opportunities and attracting investments but also for mitigating adverse demographic trends and retaining the younger population.
Empowering regions
The project aligns with a key EU policy priority of developing a robust and resilient economic base. It seeks to empower the region and local authorities with the necessary tools and strategies to design, develop, and implement effective policies.
Key activities are central to this effort include analysis and comparative study—conducting a thorough analysis of the current state of entrepreneurship, innovation, and digitalisation in the region, alongside a comparative study to identify strengths and areas for improvement.
Strategy and action plan development meanwhile will focus on crafting a comprehensive strategy and action plan to enhance PID, with active participation from various stakeholders, including public administrations, businesses, financial institutions, educational bodies, and non-governmental organisations.
In the field of commercial opportunities and investment attraction, new commercial opportunities will be identified, and promotional activities organised to boost the region’s economic profile.
Capacity building meanwhile will focus enhancing the capacities of local and regional authorities, as well as key economic partners and operators, to better support economic and innovation activities in the district.
The project is runs until February 2025. If Bulgaria follows up on the project’s recommendations at the regulatory, institutional, and operational levels, the initiative is expected to yield significant outcomes, including more effective policy framework for entrepreneurship, innovation, and digitalization in the Stara Zagora region, and strengthened capacity among administrations and stakeholders to stimulate economic and innovation-driven activities in the district.
This EU-backed project represents a vital step forward in securing the economic future of Stara Zagora, ensuring that the region can thrive in an increasingly digital and sustainable global economy.
One of Bulgaria’s most dynamic regions
The region of Stara Zagora, located in south central Bulgaria, has a population of 291,852 (2022) and covers 11 municipalities.
Its capital, Stara Zagora, is the sixth-largest city in Bulgaria and the region’s economy is recognised as one of the most dynamically evolving regions in Bulgaria.
GDP produced in the region represents 4.5 per cent of the country’s total and in terms of GDP per capita, Stara Zagora ranks second after only Sofia (the capital), at 10,309 euros.
Due to its dynamic economy, the region also maintains a low unemployment rate, which in 2022 was just 4.3 per cent.
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