Croatian minister pledges better business environment for investors

The incumbent Croatian government is firmly committed to the implementation of reforms and to the improvement of business climate so as to attract potential investors, the Croatian Minister for SMEs, Darko Horvat, said on Wednesday while attending the Sarajevo Business Forum in the Bosnian capital.

Addressing the event that brought together several hundred business people and officials from 16 countries in the region as well as from Arab countries and China, Horvat said that being a European Union member, Croatia strongly advocated the enhancement of economic cooperation in its neighbourhood.

In the same vein, he said that government policies must be conducive to a stable business environment and favourable investment framework and tax system.

The minister recalled that the cabinet led by Prime Minister Tihomir Oreskovic intended to amend 238 laws so as to create more favourable conditions for doing business in Croatia and for new investments.

Concerning large-scale projects, Minister Horvat said that Zagreb was open to talks with Bosnia and Herzegovina about investments in the hydro power plant "Dubrovnik II" and on the continuation of the construction of the Croatian and Bosnian sections of the pan-European Vc transport corridor.

He reiterated Croatia's full support to Bosnia and Herzegovina's European Union membership bid so as to remove administrative borders and help set up a single economic zone in the region, according to Horvat's explanation.

The first edition of Sarajevo Business Forum was held in 2010. Bosna Bank International (BBI), in cooperation with its shareholders (Islamic Development Bank, Dubai Islamic Bank and Abu Dhabi Islamic Bank) and other international partners, organises this annual investment conference.

Islamic Development Bank President Ahmed Mohamed Al-Madani said today that the organisation of such events in Sarajevo helped Bosnia and Herzegovina to become a hub for connections of potential investors,

Bosnia and Herzegovina's Presidency chairman Bakir Izetbegovic said that this forum was attracting a rising number of participants and building bridges of cooperation between Europe and Asia.

Izetbegovic welcomed the attendance of the Chinese delegation at this year's forum. The delegation included China Gezhouba Group Corporation that is set to invest EUR 722 million euros in a new block within the thermal power plant in Tuzla, northeastern Bosnia and Herzegovina. The Chinese EXIM bank is willing to offer a favourable 15-year-long loan for that purpose. This project  is now described as the biggest investment in energy facilities in the country since the end of the war.

Last update: Wed, 04/05/2016 - 13:02

More from Croatia

Croatia should be stronger bridge between EU, S-E Europe, German official says

Senior German official Michael Roth said on Tuesday Croatia was a bridge between the European Union and Southeast...

Nature magazine writes about plagiarism scandal involving Croatia’s science minister

Nature, international weekly journal of science, on Tuesday ran an article about the plagiarism scandal involving...

Petrov and Bulj not stripped of immunity in private suit

The parliamentary Credentials and Privileges Commission (MIP) on Tuesday rejected motions to strip two Bridge...

Croatian PM says economy minister wouldn't put private interest before state's

Prime Minister Andrej Plenkovic said on Tuesday that Deputy PM and Economy Minister Martina Dalic enjoyed his full...

Bloomberg ranks Croatia 41st among 50 most innovative economies

According to Bloomberg's innovation index, Croatia is ranked 41st among the 50 most innovative economies, down three...