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Austria interested in greenfield investments in Croatia - minister

ZAGREB, Nov 9 (Hina) - Austria is increasingly interested in investingin the Croatian industry and is notably interested in greenfieldinvestments, Austrian Economy Minister Martin Bartenstein told thepress in Zagreb on Wednesday.
ZAGREB, Nov 9 (Hina) - Austria is increasingly interested in investing in the Croatian industry and is notably interested in greenfield investments, Austrian Economy Minister Martin Bartenstein told the press in Zagreb on Wednesday.

He was speaking during a break of an Austrian-Croatian symposium on environmental protection and alternative energies.

Bartenstein said the increased interest in greenfield investment was the result of optimism among business people following the launching of Croatia's European Union entry negotiations on October 3.

He said Austria would do everything for the negotiations to be swift and successful during its six-month EU presidency in the first half of 2006.

Twenty-seven per cent of Austrian companies doing business in Croatia estimate the launching of the entry negotiations has improved the security of planning business, 15 per cent have a higher turnover and eight per cent have higher profits, according to a poll conducted by the Austrian Office for Foreign Trade in Croatia, whose results were presented by office chief Peter Hasslacher.

Fifteen per cent of the companies are planning new investments, while only two per cent expect worse business results.

Hasslacher said one could expect a wave of investments from Austria as well as from other countries whose investors were encouraged by the EU entry negotiations.

Croatian Economy Minister Branko Vukelic said the government was intensively working on removing problems such as a poorly effective public administration and land book offices, and insufficiently good laws and regulations.

Sixteen Austrian companies participated at the symposium.

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