Tourism Investment Development and Attraction Initiative

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The Investment Attraction Initiative is designed to support the region's tourism development by helping in filling of investment gaps. The project addresses constraints and weaknesses building on strengths. The project is an innovative solution (supporting and promoting identified investment projects in tourism) for better use of existing resources, promote them and attract new investments. During project preparation process Joint Project Team identified already existing 34 investment projects in tourism sector and assessed the current state of readiness for implementation. The Joint Project Team and external consultants analysed them together with key municipal and regional stakeholders from both side of the borders. Joint Project Team agreed with key municipal and regional stakeholders on criteria which tourism investment projects should be chosen to be addressed and assisted through the Project. Criteria for choosing the investment project were: clear ownership situation; the commitment of municipal authorities to take leading role in project development; estimated project value between 500.000 – 5 million €. The Project strategy is to improve the development of 10 investment projects: 3 green-field projects related to spas (in Sokobanja, Knjazevac and Zajecar), 6 to ethno-village projects located in Belogradcik, Cuprene, Vidin, Novo selo, Negotin and Majdanpek and one visitor centre. 6 projects are on Serbian side, 4 on the Bulgarian side. This will build a portfolio of mature projects and will promote them with potential domestic and foreign investors. Each of the mentioned 10 projects will be supported to: Create clear vision how to be future developed; Make an Action plan for further development and implementation - Include market analysis; Set up project implementation unit; Draw budget and financial analysis; Be jointly promoted; Have synergy with other cross-border projects at same stage

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