VUKOVAR'S RECONSTRUCTION FUND DEBATES ECONOMIC SITUATION

VUKOVAR, Nov 7 (Hina) - The economic situation in Vukovar continues to be difficult even though privileges offered by the government with the Law on Reconstruction and Development of Vukovar and approved to investors are large and unique, the president of the eastern town's Reconstruction and Development Fund, Diana Galic, said on Thursday. #L# In an effort to promote economic development in Vukovar, the Fund's steering committee will soon invite businessmen to submit applications to be included in a new programme of subsidies for production projects, Galic said. The chairman of the Council for the Reconstruction and Development of Vukovar, Branislav Tusek, said that before the end of the year Vukovar would open a Danube River Region free trade zone which will ensure operations for eight production companies and employ about 130 people. Vukovar free zones are quickly being organised on land owned by the Borovo, VUPIK and Velepromet companies. In the spring, facilities will be constructed in an economy zone in the southern section of the Borovo factory. The Reconstruction and Development Fund will also offer scholarships for Vukovar students in the amount of 40,000 euros. (hina) sp/ha sb