ISTRIA COUNTY AND ISRAEL TO OPEN NEW FREE ZONE

PICAN, Jan 22 (Hina) - Istra County and the Efgard company from Israel will establish a free zone in Potpican, a town in the northern Adriatic peninsula of Istria, county and municipal representatives said on Monday. During a recent visit to Israel, an Istra County delegation and the Efgard company signed a draft agreement on joint investing in a free zone and a letter of intent on economic cooperation, prefect Stevo Zufic said. The two sides would be the founders of a joint company with equal interest. The local self-government, i.e. Pican Municipality and Istra County, will provide land, while the Israelis will equip the zone and find potential investors. According to Zufic, the free zone could provide about 1,000 new jobs. Istra County Assembly president Damir Kajin said foreign investors would invest about three million US dollars in the zone, which could be opened in two months. The municipality will be granted a concession from the government. (hina) ha