Industrial Clusters: Industrial clusters play an important role in economic activity. This is particularly true in technology intensive industries. Industry clusters are concentrations of firms in one or more industries, which benefit from the synergies developed by the existence of a network of competitors, buyers and suppliers. Clusters contain demanding buyers, specialized suppliers, sophisticated and relevant human resources and well developed financial and support institutions. The existence of functioning clusters is an indication of the sophistication and competitiveness of a business environment. This is highly attractive to transnational companies who are always seeking to locate new competitive advantages.
