Defining Aspects of the New Economy in Valea Jiului Carboniferous Basin

The new economy of Valea Jiului Carboniferous Basin changes the economic profile of the six localities with urban status in Hunedoara County: Petroșani, Vulcan, Lupeni, Petrila, Uricani and Aninoasa. The changes in the new economic landscape occurred in a relatively short period of time (about 33 years) and created educational, social and political imbalances. The new economy proposes the reintegration of a significant part of the population by abandoning extractive operations, reducing the secondary sector of the economy and focusing on the tertiary sector, the service sector. The business environment in the Valea Jiului coalfield is going through a new stage, which began with the restructuring that began in 1990. It is influenced positively or negatively by technological advances, European Union policies, local, national and international political events and the evolution of demand and supply. Technology and strategic innovators have the opportunity to quickly enter competitive markets and replace or assimilate local players.