DOING BUSINESS INTELLIGENT SPECIALIZATION

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SWOT - ANALYSIS OF THE ECONOMIC DEVELOPMENT IN THE MUNICIPALITY OF PAZARDZHIK

Strengths:

1. Combination of agricultural and forest areas and rich water resources, providing diverse economic activities.

2. Multi-sectoral structure of the economy in the region based on favorable factors - transport and geographic location, production experience, and traditions.

3. Leading functions in the national economy - strong metal industry, agricultural sector.

4. Development of modern forms of territorial concentration of modern manufacturing, logistics, and other services - Free Economic Zones, industrial parks;

5. Favorable geographical position.

6. Suitable natural and climatic conditions.

7. Good transport accessibility - the territory is crossed by the routes of 3 pan-European corridors, as well as the Trakia motorway;

8. Well-developed transport infrastructure - rail and road transport and good communications.

9. Presence of spaces and areas with rich flora and fauna and abundant water resources, dams, and cascades.

10. Clearly defined business zones.

11. Vacant land for business, mostly privately owned.

12. Presence of vocational schools.

Weaknesses

1. The relatively low share of high-tech economic activities, as well as those generating high added value;

2. Falling competitiveness of key industries in the region.

3. General negative features in the state of the agricultural sector - strong fragmentation of agricultural land; - a tendency towards increased monoculture in crop production, and slow renewal of machinery and technologies used in agriculture and livestock breeding.

4. Low labor productivity.

5. Low income of the population.

6. Worsened demographic indicators

7. Inadequate educational and qualification structure of the employed population.

8. High migration and depopulation of small settlements.

9. Insufficient investment in the modernization of productive activities;

Opportunities

1. Use of EU funds (through national operational programs) for economic and/or infrastructure development

2. Improve accessibility, technological provision, and overall management of existing industrial zones.

3. Promote the development of green industry and circular economy.

4. Introduce zero-waste technologies to realize circular economy objectives.

5. Increasing energy efficiency

6. Support for enterprises introducing innovative technological products with high added value.

7. Developing organic farming and building on modern irrigated agriculture

Threats

1. Continuation and deepening of the global economic crisis

2. Prolonging the negative effects of the COVID-19 pandemic on the global and local economy in the long term.

3. Destructive changes in the demographic situation of the territory.

4. Lack of state support for agriculture and industry.

5. Deficits in water supply and infrastructure provision

It is evident from the SWOT analysis of the Economic Development of Pazardzhik Municipality that the region has a large set of unique and high-impact assets, the significant part of which are strengths. There are no business sectors or economic industries that are undervalued/underappreciated within the municipality because many of them have been in existence for decades, engage a skilled, intergenerational workforce, and reduce social pressures.

The local economy has the opportunity to develop innovative industries, technologies, and products with higher added value, to set the goal of reducing greenhouse gas emissions, introducing zero-waste technologies that will help develop a circular economy, and green industry and ensure a fair energy transition.

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