The concept of a specially supported territory
A specially supported territory (SST) is a territory having long-term negative tendencies of economic and social development or one of these tendencies, and which has been granted the status of a specially supported territory.
The status of a specially supported territory
The objective of granting the status of a specially supported territory is to create opportunities for economic and social development of economically weak or the least developed territories, in order to promote equal social and economic conditions in the whole territory of the country.
The development of specially supported territories is stimulated with the help of a special credit policy, tax relief and the resources of the Regional Fund which gives an additional possibility to finance projects whose implementation in the respective territory boosts economic activity, creates new jobs and helps to maintain the existing jobs and raises the people's standard of life.
The procedure of granting the status of a specially supported territory
The status of a specially supported territory shall be granted and repealed by the Development Councils in compliance with the procedure defined by the Cabinet of Ministers.
