InvestBulgaria Agency Newsletter (February 2014)

Date: Mar 2014

InvestBulgaria Agency issues a new monthly electronic newsletter where we bring to your attention information about:

  • Bulgarian Investment Agency - events, initiatives and current projects;
  • Economic news and key indicators related to business, investment and trade;
  • Investment opportunities of a municipality;
  • Foreign Chambers of Commerce in Bulgaria;
  • Macroeconomic indicators;
  • Upcoming events.

The InvestBulgaria Agency’s newsletter represents another step towards the establishment of Bulgaria as an attractive, stable and safe business destination.

Decrease of socio-economical differences between regions, creation of good living conditions for people and business development are the main aims for me as a Minister of Regional Development

Danail PapazovDesislava Terzieva

Minister of Regional Development

She started her professional career as a trainee judge at the Sofia City Court in 1987.

In the period 1988-1991 she worked as a legal expert in Sofia’s regional council and in the Committee on Regional and Urban Planning.

She worked as a senior expert in the Ministry of Regional Development and Public Works.

She was a director of the department Administrative-legal and financialeconomic services in executive agency Port Infrastructure.

Between 2003 and 2005 she has been a director of department National transport policy in the Ministry of Transport and Communications.

From 2006 to 2009 she took the post of a director of department European coordination and international cooperation in the Ministry of State Administration and Administrative Reform.

Between 2011 and 2013 she was a director of the department Strategic development and coordination in the administration of Councils of Ministers.

She was appointed as Minister of Regional Development by the 42nd Parliament on the 29th of May 2013.

She graduated from Julia Richman High School, New York, USA. Terzieva is a master in law from Sofia University St. Kliment Ohridski. She has additional qualifications and specialized in various international organizations and universities in Austria, the Republic of Korea, and Scotland.

Decrease of socio-economical differences between regions, creation of good living conditions for people and business development are the main aims for me as a Minister of Regional Development. Key factor for their completion is improvement of business environment in various regions and attraction of investment beyond the capital city, where economic life is strongly focused. That is the reason why Ministry of Regional Development strives to create beneficial environment for business development and intensification of economic potential of regions.

Provision of adequate infrastructure plays as essential role to that end. Improvement of coherence between regions via construction of new transport ties, as well as through recovery and quality maintenance of the country’s road network are additional steps, too. We are working for denser provision of settlements and industrial zones with plumbing services and optimization of water and wastewater infrastructure.

Activities in that sense include completion in 2014 of the following big road projects: Maritsa highway; section Sandanski-Kulata of Struma highway, Vratsa bypass and first stage of Western arc of the Sofia ring road. We will continue working for construction of Struma and Hemus highways, too. The Ministry envisages beginning of Sofia- Kalotina motorway, as well. On the other hand we consider as priority maintenance of secondary and tertiary roads that are important for the economic development of regions. More than 35% of the so called small roads are in bad exploitation condition, which hampers people’s everyday life and confines opportunities for business development in settlements out of huge urban conglomerates. In the present year we start repair of 270 kilometers secondary and tertiary road sections with BGN 50 million from the government’s Public investment program. The new policy says that each year budgetary resources will be allocated to support their good condition.

Need of investment in water sector is vital and urgent. For the first time in many years the government has allocated money from the budget for repair and construction of plumbing and for construction of dams. BGN 20 million under Public investment program is ensured for the regional ministry’s program for combating aridity. It is the first step that we take for solving the problem with modes of water supply. Together with resources, planned for construction of dams the ministry is to invest a total of BGN 43 million in water sector in 2014. We plan starting construction and installation work on dams Plovdivtsi (municipality of Rudozem), Luda Yana (Panagurishte municipality) and Studena (Pernik municipality), as well as design of the Neykovtsi dam. Total indicative budget for construction of dams is assessed at nearly BGN 122 million that are secured via State investment loan and by money of the state budget.

Nearly BGN 1.6 billion fresh financial resources under operational program Regions in development 2014-2020 will be invested in local economy and will support revival of 67 towns in Bulgaria. More than BGN 120 million under the new program will be directed for promotion of private investment in zones with potential for economic growth via grants for provision of technical infrastructure and financial engineering of the type JESSICA.

As a minister of regional development I think that Bulgarian regions are good place for investment and business development. Together with my team we are working actively for improvement of public road and water supply infrastructure and we exert maximum support for regional and local authorities to stimulate socio-economic development of all regions. Our purpose is all regions in Bulgaria to be attracted to the process of economic growth, as opposed to development of just several big cities.

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