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RSS Feed Business29. 09. 10. - 14:00
PM brings American investors to Croatia
Croatian Times
Croatian Prime Minister Jadranka Kosor has met in New York with 500 of the biggest American companies interested in investing in Croatia.
In a meeting organised by the non-profit and non-partisan public policy organisation Center for Economic Development (CED) on Tuesday, Croatia’s officials presented 30 large investment projects in Croatia as well as the country’s economic recovery plan.
The American investors showed biggest interest in tourism and for establishing direct flights from the United States to Croatia, which would enable the arrival of more American visitors.
Charles Kolb, the president of the CED that numbers some 200 senior corporate executives amongst its members, expressed optimism about Croatia’s potential to attract American investors.
"Croatia is an excellent country, has a highly educated population, rich natural resources and spectacular beauty without comparison in the world," Kolb said.
He singled out tourism, the pharmaceutical industry and telecommunications as the sectors of greatest interest for Americans.
"Taking into consideration the stable government dedicated to transparency, and entrance into the European Union, I believe that is a recipe for success," he added.
CED has invited Croatia to participate in its annual meeting of representatives of its global network on November 30th in New York.
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Dr James B Waddell wrote on 01. 10. 2010 from Swansea UK and Bajkini, Istria
Let us hope the Americans undertake full due diligence, on the ground, speaking to those who have invested in tourism and property in Croatia, made every effort to follow the Croatian laws and then found the interpretations of the laws changed so that they can no longer trade legally. For example in October 2007, the Croatian Ministry of Environmental Protection and Physical Planning and Construction, led by Marina Matulović Dropulić brought into force a new law regulating physical planning and construction in Croatia. The new law did not change the provisions or wording of the previous law regarding the use of a property. However, without warning a new policy and interpretation of the law was applied by the Ministry. This policy applied retrospectively and insists that residential building and usage permits are no longer acceptable for obtaining categorisation (a legal requirement for renting to tourists), as renting to tourists of a residential property is considered by the authorities to be business activity and therefore requires a business building and usage permit. Overnight the business cases of investors became in valid as it was almost impossible for nearly three years to change the building permits or a residential property due to the spatial plans. In some regions of Croatia commonsense has finally prevailed and the planning authorities have accepted changes in building permits and foreign investors can now rent legally. In Poreč, Istria the Planning Office are still digging their heels in and not allowing the changes in building permits to be made unless part of a residential house is classified as for business use. If investors rent their property without categorisation they face large fines and their guests being evicted. Lobbying the government authorities is like shouting at a wall, with a 3 month minimum turnaround on any correspondence and answers that are completely evasive. No government department wants to manage serious business issues. I know I have spent over two years doing it. You have been warned! Have a nice day.:-)
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