Bulgaria property news and articles

Bulgaria is to absorb over 1,5 billion Euro under the newest Operational Program “Regional development”, which the European union has recently launched. All 6 Bulgarian regions are applicable for participating in the program, which involves both infrastructural and business climate improvements.

Bulgaria’s main priorities are:

• Preserving the economical and financial stability;
• Modernizing and construction of road infrastructure – intercity and regional;
• Improving the business climate – better social services and legislation;
• Investment in human capital.

The “Regional development” program will decentralize funds to all regions of the country. Its aim is to ensure integrated urban development by improving the road network, social and transport services, urban environment.

Bulgaria is divided into 6 main regions:

• To the North there are: North-West, including cities like Vratsa, Pleven, Vidin; North-Central: Veliko Tyrnovo, Ruse; North-East – Varna;
• To the South we have: South-West – Sofia, Blagoevgrad; South-Central – Provdiv; South-East – Stara Zagora, Burgas.

The Southern part of the country is comparatively better developed. The regions to the South have better infrastructure and provide more business opportunities, which in turn attract both local and foreign investors. The Sofia region has the highest living standard in the country and provides nearly 40% of the total gross income in Bulgaria.

The priority economical sectors indicated in the project are tourism, information and communication technologies and social services.