Ruse climbs to second place in the ranking for industrial development in Bulgaria according to the new index of Capital newspaper
The "Industrial Development" index of Capital newspaper analyzes the regional potential for attracting manufacturing investments
Ruse climbs to second place in the industrial development ranking in Bulgaria, according to the new "Industrial Development" Index of Capital newspaper. The development of the industry in Ruse is becoming more and more significant, which affects the results of the index. This index was calculated by combining eight indicators divided into two main groups.
The first group of indicators, called "Globally Competitive Industry", focuses on the ability of regions to develop high-performance industrial activities and attract investors with strong exposure to international markets. This group includes indicators such as value added per job, share of the mechatronics and automotive sector in the total number of jobs in the industry, share of foreign companies in the number of jobs in the industry and export intensity.
The second group of indicators, "Sustainable Development", includes aspects of the region's ability to create a competitive environment that is not heavily dependent on a small number of large investors, as well as to achieve sustainable wage growth in parallel with that of productivity. This group contains indicators such as productivity growth relative to wage growth, industry share of regional employment, market concentration (measured by the Herfindahl-Hirschman index) and share of new investors (post-2016) in total industry jobs in the respective region.
Ruse is distinguished by improved productivity, thanks to the process-processing enterprises in the region, as well as the active restructuring process of the local industry, which leads to a more pronounced mechatronics and automotive profile. This significant improvement in indicators contributes to the development of industry in Ruse and the city is established as the second most industrialized region in Bulgaria after Sofia.
Achieving a high ranking in the "Industrial Development" index highlights the importance of industry for Ruse and the city's potential to attract investment and develop manufacturing activities. The Rousse Chamber of Commerce and Industry appreciates these achievements and will continue to work to promote investment and innovation in the region in order to maintain this success and develop it even further.
To read the full article, click here. Authors: Georgi Stoev, Vesislav Iliev, Trakia Tech, Capital newspaper.